TEL AVIV, Israel--(BUSINESS WIRE)--Talon Cyber Security, the leader in cyber security solutions for the distributed workforce, today announced that it has secured $26 million in seed funding from Lightspeed Venture Partners, Team8, serial entrepreneur Zohar Zisapel, and leading cyber angel investors. The company is developing a first-of-its-kind cyber security technology that protects from the unique threats emerging in today’s era of distributed work.
To protect employees from COVID-19, many enterprises rapidly shifted to make distributed work possible while maintaining business productivity. Forced to accelerate digital transformation initiatives, these changes led to gaps in visibility and security, ultimately playing into the hands of attackers. There were fundamental challenges that could not be addressed using traditional security solutions such as zero trust models or VPN.
Talon’s unique technology makes it possible to turn an organization’s security weaknesses into resilience against cyber attacks without compromising an employee’s privacy or productivity. Talon’s novel approach enables all employees, no matter the device they are using, to access their corporate resources in a secure way. By enabling workforce productivity and flexibility while safeguarding security, Talon allows organizations to operate and innovate with confidence. The market for cyber solutions to support distributed work is expected to reach $42 billion by 2026.
“Talon is solving a major problem created by recent changes in the workforce model,” said David Gussarsky, partner at Lightspeed Venture Partners. “The need for one comprehensive solution to enable workforce flexibility, without compromising security, has created a whole new market and a unique opportunity to become a game-changer in the cyber security industry.”
“Accelerated digitization is impacting the way enterprises operate. I hear from hundreds of organizations, across all industries, which are struggling to find the right balance between encouraging productivity and creativity among a distributed workforce while maintaining cyber defenses,” said Nadav Zafrir, co-founder and managing partner at Team8. “I am confident that Talon’s leadership team will deliver a ground-breaking solution for today’s unique cyber risk challenges.”
“The distributed workforce presents a host of new cybersecurity challenges and exposes both large and small organizations to new types of threats that can’t be solved using existing solutions,” said Ofer Ben-Noon, Talon Cyber Security CEO. “This unique challenge and opportunity led Ohad and me to embark on this exciting journey. Talon is entering the market to provide organizations with maximum flexibility, productivity and visibility while protecting them against cyber attacks that are becoming more and more sophisticated.”
Talon was founded by two proven entrepreneurs in the cyber security industry, CEO Ben-Noon and CTO Ohad Bobrov, both alumni of Unit 8200, Israel’s elite military technology and intelligence unit. Ben-Noon founded Argus, the global leader in automotive cyber security, which was sold to Continental in 2017 (estimated $430M). Following the acquisition, he remained CEO of Argus and joined senior management at Continental, during which time Argus protected over 50 million vehicles. Bobrov founded Lacoon Mobile Security, a provider of security solutions for mobile phones, which was sold to Check Point in 2015 (estimated $100M), where he was appointed Vice President of SaaS, Mobility and Endpoint Cyber Technologies.
The seed funding will allow the company to further develop its technology and expand the development team.
About Talon Cyber Security
Talon Cyber Security is a leading provider of cyber security solutions for the distributed workforce. A next-generation solution designed to protect against a new category of threats posed by distributed work, Talon enables workforce productivity and flexibility alongside rock-solid cybersecurity. Talon’s founders include proven entrepreneurs and former leaders of Unit 8200, Israel’s elite military technology and intelligence unit. For more information, please visit www.talon-sec.com.
About Lightspeed Venture Partners
Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise and Consumer sectors. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 400 companies globally, including Snap, Nest, Nutanix, AppDynamics, MuleSoft, OYO, Guardant, Affirm, and GrubHub. Lightspeed and its affiliates currently manage $10.5B across the global Lightspeed platform, with investment professionals and advisors in Silicon Valley, Israel, India, China, Southeast Asia, and Europe. For more information, please visit www.lsvp.com
About Team8 Capital
Team8 Capital is the investment arm of Team8 Group, focused on early-stage companies seeking seed and Series A and B funding rounds. The VC builds and backs technology companies at the intersection of artificial intelligence, cybersecurity, data, fintech, enterprise software, and infrastructure. We have a track record in backing future leaders pioneering new-generation solutions to meet critical industry challenges. Team8 Capital offers a unique combination of deep domain expertise and decades of company-building and investing experience and is ready to provide our portfolio companies with a springboard to success. For further information, please visit www.team8.vc
