Covertix said the funding would be used to enter the European cybersecurity market, strengthen its product offerings, and boost its international sales and marketing outreach.
Based in Kfar Saba, Israel, Covertix supplies products that provide protection against information leaks and sensitive data security by offering independent file-level surveillance and control systems. The company's SmartCipher protects sensitive data inside and outside the organization even when used by third parties.
"Every day there is a new information leakage scandal being publicized. Yesterday it was WikiLeaks and today is Renault – it's a threat that concerns all organizations", Covertix chief executive Alon Samia was quoted by UPI as saying.
"Organizations should not have to worry about their confidential documents being publicly disclosed and enterprises should have the business agility to securely share sensitive information internally and externally", he added.
Samia told the Globes website that the company was close to signing contracts with customers in Europe. "The ability of the partners in Kima Ventures to help us reach large customers in Europe enables to move forward quickly", he told Globes.