Israeli IT security start-up Cyber-Ark Software Ltd. has unveiled an appliance-based version of its enterprise password vault software, which is installed on enterprise networks in the same way as other appliances.
Cyber-Ark was founded in 1999 by president Udi Mokady and chairman Alon Cohen. The company developed software to protect and manage sensitive information in enterprises using technology it called a vault, a multi-layered protection system. The company’s solutions include the protection of sensitive documents, an enterprise vault that brokers the transfer of information between the enterprise and its partners and customers, and a product for the management, protection and verification of passwords.
The appliance-based enterprise password vault will manage and protect enterprise passwords. The software solution is mainly designed to meet regulatory requirements for updating and monitoring passwords at enterprises’ information centers, databases and networks. Cyber-Ark claims that its new appliance will be integrated into enterprise networks as a server that will facilitate the installation of the system. Cyber-Ark VP regional sales Gidon Pely said the company planned to launch additional appliance-based solutions.
Cyber-Ark reportedly had $10 million in sales in 2005, after showing impressive growth in recent years. The company’s customers include large Israeli financial institutions and government agencies, and 200 large US corporations. According to IVC-Online, the company has raised $23 million from Jerusalem Venture Partners (JVP), Vertex Venture Capital, Seed Capital Partners, US-Israeli investment venture Cabaret-ArbaOne, IDB Holding’s Orama Ltd. (now managed by Israel Infinity Venture Capital) and JP Morgan Partners. Headquartered in the US, the company has 100 employees.
Published by Globes [online], Israel business news - www.globes.co.il - on August 31, 2006
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