Based in Beersheba Cyberfish, a provider of next-generation phishing protection technology has been acquired by Cofense, a leading global phishing defense company with thousands of enterprise clients based in the United States. The deal’s value was not disclosed.
Following the acquisition, Cofense will establish its first R&D center in Israel, led by the Cyberfish team, and hire additional employees. Cyberfish was founded in 2017 by Dima Kagan, Eugene Geht, and Amit Israel in JVP’s cyber incubator in Beersheba, and is backed by Spinach Angels and JVP.
Phishing is regarded as the top threat in cyber-attacks, accounting for more than 90% of all global cyber-attacks. Every year, phishing attacks increase by more than 400 percent worldwide, and the FBI estimates that the annual damage from phishing attacks is more than $15 billion, according to Cofense.
Cofense will offer a holistic, advanced automation solution for e-mail protection, detection, and response by integrating innovative machine learning capabilities from Cyberfish with Cofense’s detection and response technology, according to the company. Cyberfish’s solution is based on computer vision and advanced machine learning technology, and it can be installed in less than a minute to provide real-time phishing protection. It will be deployed immediately as part of Cofense’s managed service.
“Cyberfish is excited to work with Cofense to solve the phishing problem and take email security to the next level,” said Dima Kagan, CEO and Co-founder of Cyberfish. “As we met with the team, it became clear that we share the same vision for how to revolutionize the email security market, which includes meeting the business needs of MSPs and enterprises by providing advanced email protection beyond Microsoft and Google. We look forward to collaborating to make that vision a reality using advanced AI and automation capabilities.”
“Together, Cofense and Cyberfish will provide a one-stop-shop for an organization’s email security needs, eliminating the need for many expensive and time-consuming legacy solutions,” said Rohyt Belani, CEO and Co-founder of Cofense.
“As organizations work to consolidate technology vendors, we are laying the groundwork to support our customers in this endeavor while maintaining the high quality they expect in whatever solutions they adopt. This includes our ongoing commitment to Cyberfish’s MSP ecosystem.
Cofense’s DNA is to disrupt the email security market, and we look forward to advancing phishing detection and response capabilities for more organizations and MSPs in 2021.”
“We congratulate the founders, and are confident that the establishment of Cofense’s first R&D center in Israel, following the acquisition, will create significant employment opportunities for the area,” said JVP founder and executive chairman Erel Margalit.
“This is another example of how JVP sees Israeli innovation shaping our world through connecting groundbreaking technologies to global markets.”