Intezer, a cybersecurity startup, has raised $33 million in a Series C funding round to expand its business and address the urgent talent shortage in the industry. The round was led by Norwest Venture Partners, with participation from Intel Capital, OpenView, Magma, and CyberArk co-founder Alon Cohen. Itai Tevet, the CEO of Intezer and former head of the Cyber Incident Response Team (CERT) in Israel’s IDF, co-founded the company with CTO Roy Halevi and Alon Cohen to streamline cybersecurity processes and help teams manage the overwhelming volume of security alerts.
Intezer’s autonomous technology helps triage and investigate alerts more efficiently, completing tasks in just two minutes that would take human analysts between half an hour to four hours. The platform, built on research into the “genome” of security issues, identifies the permutations, origins, and connections of various cybersecurity threats. The company has partnerships with major security platforms like Palo Alto Networks, Wiz, and CrowdStrike, and its technology has helped organizations identify major threats, such as Chinese state actors, that were missed by security teams.
As cybersecurity threats become more sophisticated, Intezer’s technology aims to ensure that companies can keep up without overwhelming their security teams, ultimately helping to close the critical labor gap in the industry.
Addressing the cybersecurity talent gap
Intezer, which develops AI-powered technology for autonomous security operations, announced on Tuesday that it has raised $33 million in Series C funding, bringing its total capital raised to $60 million.
The funding round was led by Norwest Venture Partners, with participation from all existing investors, including Intel Capital, OpenView, Magma, and Alon Cohen, founder of CyberArk. The startup’s Autonomous SOC platform uses AI models to simulate human analysts’ decision-making process, effectively functioning as an extension of the security team. Intezer integrates with the customer’s existing security tools to automatically investigate endpoint alerts, SIEM alerts, user-reported phishing, and more.
According to the company, its platform triages new alerts in two minutes, automatically resolves false positives, and escalates only 4% of alerts to the SOC team with clear findings and recommended incident response actions, leading to faster response times for critical threats. Itai Tevet, CEO and co-founder of Intezer, said, “I know what it’s like to work in SOC and incident response teams, where every day you have too much work, too many alerts, and not enough people. This experience made me passionate about helping security teams facing resource shortages.
That’s why we built Intezer, with a mission to arm security professionals with AI and automation to virtually extend their capacity by 10x.”
With this new funding, Intezer aims to continue advancing its platform and solidify its presence in the cybersecurity market, providing essential tools for security teams worldwide.
