July 24, 2018 / 12:06 PM / 5 months ago

Cybersecurity firm Siemplify raises $14 million, total raised $28 million

TEL AVIV (Reuters) - U.S.-Israeli cybersecurity provider Siemplify said on Tuesday it raised $14 million in private funding, bringing its total raised to date to $28 million.

The funding round was led by Jump Capital and joined by the company’s existing investors G20 Ventures and 83North.

The funds will be used to strengthen Siemplify’s position in the security orchestration, automation and response (SOAR) market through increased investments in sales and marketing and product innovation.

SOAR enables the management of various cybersecurity tools through a single platform.

Siemplify, which is headquartered in New York with offices in Tel Aviv, said it had a 532 percent year-over-year increase in customer bookings and 350 percent growth in its customer base in the first half of 2018.

Reporting by Tova Cohen

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