Alcide Raises $7 Million in the funding round of Series A

Cybersecurity startup Alcide, a subsidiary of Alcid.IO Ltd., says it’s ready to play with the big boys now.

Today, it announced it has landed $7 million in a Series A round of financing that it plans to use to fuel its expansion into the U.S., Europe and the Middle East. The round was led by new investor CE Ventures, with participation from previous investors Intel Capital and ELRON Electronic Industries Ltd. Design.

The company has built what it calls a “full stack cloud-native security platform.” Launched in April, the platform has a key component, a “machine-learning-driven” microservices firewall that gives developers a simple way to define, apply and enforce security policies for their cloud-based applications.

Developers can quickly identify any activity not allowed in the network and close it down before any damage can be done. Alcide’s firewall is used to embed security policies into apps during the design process and automatically enforce them once the apps are up and running.

More: Are you looking For A Job in IoT: Here are Three things which you should remember

With its platform, Alcide is hoping to cater to the security needs of the growing number of enterprises adopting a multicloud strategy, which involves using a combination of different public and private clouds and on-premises infrastructure. The company said its security platform can be used across hybrid environments, software container, virtual machines, bare metal servers and serverless infrastructure.

Despite being launched just seven months ago, Alcide’s platform has made some significant traction. Its product is already available in the Amazon Web Services Inc. and Microsoft Corp. Azure marketplaces, and the company was recently listed as a “Cool Vendor” in the cloud security market by analyst firm Gartner Inc.

The Acide Chief Executive and Founder, said in a blog post that “We have built the Alcide as a security solution so that we can help to enforce unique app-based security policies across all the entire services, in both the automatically and uniformly, but can also address the real need of both the security and DevOps teams to have one consolidated and comprehensive approach which also includes the external services, network and the major applications,”

More: LetsTransport Raises $12 Mn From Shanghai-based Fosun International & Others

1 thought on “Alcide Raises $7 Million in the funding round of Series A”