The Silicon Review ^Asia

The round was led by new investor Springtide Ventures

Rosh Ha’ayin, Israel-based Source Defense has raised $27 million in Series B funding. The round was led by new investor Springtide Ventures with all existing investors also participating, including Jerusalem Venture Partners (JVP), AllegisCyber Capital, Global Brain, Connecticut Innovations, Inc., NightDragon, LLC, and Capital One Ventures. In addition to the investment, Karel Tusek, CTO of Springtide Ventures, will join the Source Defense Board of Directors.

“Organizations spend a lot of time and effort to make sure their websites are well designed, coded, and performing before going live, yet so many of them know so little about what actually happens on their website once it leaves the server-side and reaches the visitor’s browser (client-side), even though it is one of their most important assets both financially and brand-wise,” said Dan Dinnar, CEO of Source Defense. “Source Defense not only identified this as a major and growing issue very early on but partnered with some of the world’s largest and most trusted brands to put a real-time halt to any attempts at digital skimming, formjacking, clickjacking, ad injection, PII theft, and content defacement.

The funding will be used the company to accelerate growth plans, including investments in Sales, Marketing, Alliance, and Research and Development. Source Defense uses its expertise to address the major concern related to third-party supply chain risk which has led to material adverse impact on thousands of companies over the past few years.