Israeli startup Panorays recently closed an early stage funding round of $5 million. The round was led by noted venture capital fund, Aleph and had Amichai Shulman, co-founder and former CTO of Imperva, Elevator Fund, Moshe Lichtman and Michael Dolinsky and several cybersecurity veterans in attendance.
The company also launched its flagship automated platform that secures and strengthens the security of organizations in the supply chain. The platform enables companies to view, manage, and engage with third-parties to reduce their cyber risk.
“We’re seeing increasing demand for our solution, which solves third party security issues. The Panorays platform delivers a 360-degree view of cyber gaps. It does this by automating thousands of activities that mimic those that hackers would apply, combined with internal policy enforcement. Based on the findings and leveraging big data analytics, the platform provides context-based ratings and actionable intelligence,” founder and CEO Matan Or-El said.
Founded by Matan Or-El, Meir Antar and Demi Ben-Ari, the company has several infosec behemoths in its executive team who have held leadership roles in companies like Imperva, AVG, ironSource, Windward, WalkMe and enSilo.
“As a new company in the third-party risk space, Panorays has taken advantage of seeing what other solutions are not doing well to create a solution that will close coverage gaps. By actively engaging third-parties in the business cyber-security risk management program, Panorays uses the web of symbiotic relationships to create a broad ecosystem where all companies involved benefit from each other’s success in reducing risk,” said David Monahan, managing research director, security and risk management, Enterprise Management Associates, Inc.
