LayerX Security Raises $26M for its Browser Security Platform, Enabling Employees to Work Securely from Any Browser, Anywhere
02 May 2024 - 11:00AM
Business Wire
Early adoption by Fortune 100 companies
worldwide, LayerX already secures more users than any other browser
security solution and enables unmatched security, performance and
experience
LayerX, pioneer of the LayerX Browser Security platform, today
announced $26 million in Series A funding led by Glilot+, the
early-growth fund of Glilot Capital Partners, with participation
from Dell Technologies Capital and other investors. Lior Litwak,
Managing Partner at Glilot Capital and Head of Glilot+, and Yair
Snir, Managing Partner at Dell Technologies Capital, will join the
LayerX board. The new capital will be used for corporate growth
across talent and increasing global market presence. This round
brings the company’s total investment to $34 million.
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LayerX Security Team (Photo: Business
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Today’s modern enterprise employees rely heavily on
browser-based services and SaaS applications. Yet, these
fundamental work activities expose organizations to a wide range of
security risks, like data leaks, identity and password theft,
malicious browser extensions, phishing sites and more. LayerX was
purpose-built to secure and govern browser-based work, from both
managed and unmanaged devices.
“We’ve transformed workforce protection for organizations
without requiring the transition to a dedicated secure browser.
Unlike other solutions, installed in a matter of minutes, the
LayerX Browser Extension does not impact employee efficiency,
speed, privacy or the browsing experience,” said Or Eshed,
co-founder and CEO, LayerX.
“As the browser becomes more central to the employee, we
anticipate it becomes more attractive to the attacker, particularly
in the wake of GenAI tools used in browser-related activities,” he
continues. “Today’s funding round is a testament to our increasing
market opportunity and the innovation behind our platform’s
user-friendly approach to a more secure browser experience.”
LayerX's Enterprise Browser Extension is compatible with all
commonly used browsers, including Chrome, Firefox, Edge and others,
without requiring agents, a VPN or network modifications. Once
deployed, the information security or IT team gains visibility into
user activities and can block or restrict any threat in real-time,
without impacting the user experience.
LayerX protects against all threats, whether they were
inadvertently or maliciously caused by the employee, or whether
they were originated by the attacker. The solution includes an AI
engine that granularly monitors the code run by the browser and
automatically generates a variety of insights related to user
behavior in the browser.
"Since inception, LayerX showed super fast growth and adoption
by the world’s leading enterprises. The company is at the forefront
of defense for modern organizations. By protecting the browser, the
central productivity application in organizations, from a wide
range of new-generation security risks, LayerX can solve acute
security problems that have remained unanswered until now,” said
Kobi Samboursky, Founding and Managing Partner at Glilot Capital
“We believe that this novel solution for securing browsers will
replace most SASE and SSE solutions prevalent today in
organizations. At an estimated market size of $7 billion, the
potential inherent in LayerX’s technology is tremendous."
"Similar to other successful entrepreneurs in the cybersecurity
field we've collaborated with, Or and David bring significant
experience and knowledge in understanding the technical issues
involved in threats to organizations and the motivations of
attackers. Consequently, they recognize that effective security
measures should adapt to real-world user behaviors, rather than the
other way around,” said Yair Snir, Managing Director at Dell
Technologies Capital. “In a world where most computer operations
are conducted through browsers, LayerX introduces a creative
approach to corporate security that is user-friendly, robust, and
easily implementable in large organizations. This approach
transforms the browser from a major vulnerability to a strength,
facilitating secure work across devices. Our investment in LayerX
isn't just driven by the promising opportunity but also by the
potential impact of the company's solution on organizations,
regardless of where employees conduct their tasks."
About LayerX
LayerX was founded in 2022 by Or Eshed, CEO, and David Vaisbrud,
CTO, who developed web attack and defense systems during their
military service. In 2017, Eshed led the exposure of the largest
attack campaign in history on the Chrome browser, which involved
tens of millions of compromised browsers and even led to the
capture and trial of the hackers. LayerX has Fortune 100 clients
worldwide.
LayerX Enterprise Browser Extension natively integrates with any
browser, turning it into the most secure and manageable workspace,
with no impact on the user experience. Enterprises use LayerX to
secure their devices, identities, data, and SaaS apps from
web-borne threats and browsing risks that endpoint and network
solutions can’t protect against. Those include data leakage over
the web, SaaS apps and GenAI Tools, malicious browser extensions,
phishing, account takeovers, shadow SaaS, and more.
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version on businesswire.com: https://www.businesswire.com/news/home/20240502717414/en/
Media contact: Dori Harpaz, LayerX dori@layerxsecurity.com