Nyotron Raises $21 Million Funding Round Appoints Former McAfee Executive Peter Stewart to Chief Executive Officer.
Santa Clara, California and Herzliya, Israel - Nyotron announced today that it has closed a new $21 million financing round led by US-based investors and including all existing investors. The financing was significantly oversubscribed and positions the company to dramatically increase worldwide sales and marketing activities and to expand its current offerings of Nyotron’s innovative endpoint cyber security solution.
Nyotron also announced the appointment of Peter Stewart to Chief Executive Officer. Mr. Stewart, who also is participating in this round, has held several important executive positions at McAfee and is the former Chief Executive Officer of TraceSecurity. Nir Gaist, founder of Nyotron and creator of the flagship product PARANOID, will serve as Chief Technology Officer, leading Nyotron's ambitious product roadmap.
Nyotron provides a revolutionary new cyber defense for endpoints using technology never before implemented in the industry. Nyotron stops all attacks, whether known before or never before experienced, including ransomware, advanced persistent threats and other malicious attacks. Nyotron is now installed at some of the world's most sophisticated technology operations, including a major US law enforcement agency, El Al Airlines and the Israeli military.
Recent cyberattacks, such as WannaCry and NotPetya, have demonstrated that the technologies deployed to protect the data of enterprises worldwide are NOT stopping the attacks. Not only have the attacks become more sophisticated, the sheer volume of attacks demands a new approach to endpoint security. Nyotron addresses this problem differently than any other technology. PARANOID’s protection does not depend on the type of threat or the attack vector.
“Nyotron offers a completely different approach to protect enterprises from ‘unknown unknown’ attacks. This patented technology will drive our growth and continued customer traction,” said Pete Stewart, CEO of Nyotron. "I am honored to serve in this role, and I look forward to working closely with Nir and the Board of Directors to establish Nyotron as the new standard for endpoint security."
“I am very happy to see Nyotron advance to this next phase of growth, and I am excited to work with Pete and Doug on our exciting future," said Nir Gaist, founder and CTO of Nyotron.
The financing was led by DGB Investments, the technology holding company owned by Douglas and Sandra Bergeron. Existing investors include Mitvah Shamir, Gil Agmon and Shmuel Harlap, the largest private investor in Mobileye.
Mr. Bergeron was CEO of VeriFone from 2001 to 2013 and oversaw growth of the business from under $300 million to $2 billion per year. He has extensive experience with the globalization of Israeli founded technology businesses. Mr. Bergeron will become Chairman of the board.
Mrs. Bergeron is the former worldwide head of McAfee research and development and former president of McAfee's PGP Security division.
Maj. Gen (Ret.) Amos Malka, founding chairman of Nyotron and former head of the Israel Defense Forces’ intelligence, will continue to serve Nyotron as lead Israeli director.
This announcement is further proof of the growing momentum that Nyotron is enjoying in the market. Nyotron recently earned a top overall score of 5 stars from SC Magazine in its group product review for Endpoint Security Platforms, won GOLD in the 2017 IT World Awards for Endpoint Security, and Nyotron was designated as the 2017 HOT COMPANY in Endpoint Security by Cyber Defense Magazine.
Nyotron will be exhibiting at Black Hat USA 2017 on July 26th and 27th at the Mandalay Bay Convention Center, Las Vegas at Booth #748.
To learn more about Nyotron’s PARANOID, please visit: https://nyotron.com/solutions/paranoid/