Website Security Startup Source Defense Raises $10 Million

Israel-based website cybersecurity startup Source Defense Ltd. has completed a $10 million Series A funding round, the company announced Wednesday. Venture capital firms investing in the round include Palo Alto, California-based Allegis Capital LLC (AllegisCyber), Tokyo-based Global Brain Corp., Connecticut Innovations Inc., and existing investor Jerusalem Venture Partners (JVP).

Founded in 2014 and based in Rosh HaAyin, a town in central Israel, Source Defense develops cloud-based software for automatically monitoring and detecting vulnerabilities on third-party applications used on websites. The company intends to use the funding to boost marketing efforts.