YL Ventures in $2.5m seed financing for cybersecurity business Hexadite


chained-door-1339522-mYL Ventures has put down part of a $2.5m seed funding investment for cybersecurity incident response company Hexadite.

Former Microsoft corporate vice president Moshe Lichtman also invested in the Tel-Aviv-based business, which aims to reduce the time it takes to investigate and resolve online attacks by 95 per cent.

YL Ventures managing partner Yoav Leitersdorf said, “Hexadite creates a paradigm shift in the cybersecurity incident response market by automating and vastly accelerating previously manual processes.

“Reducing complexity by intelligently automating incident response and implementing best practices across enterprises in a continuous manner is the only way we can combat the ever increasing volume and complexity of cyber threats.”

Hexadite’s Automated Incident Response Solution is currently being used by its first four customers.

YL Ventures is believed to be drawing down cash from its second fund, which beat its $25m target by closing on $27.5m in July last year.

Other tech companies on the seed investment firm’s books include Seculert, BlazeMeter and FireLayers.

Previous deals from the firm include funding the launch of Israeli customer analytics company Clicktale in 2007, which YL is still invested in.

Copyright © 2014 AltAssets