Cybersecurity Company TrapX Raises $18 Million

Cybersecurity company TrapX Security Inc. has raised an $18 million series C round led by Ibex Investors, the company announced Monday. Existing investors Intel Capital, BRM, Opus Capital, Liberty Technology Venture Capital, and Strategic Cyber Ventures also participated in the round.

Founded in 2012 by CEO Moshe Ben-Simon and Yuval Malachi, TrapX develops deception-based cybersecurity tools. The company employs 60 people in its Tel Aviv center and in San Mateo, California.

The funding will enable TrapX to continue developing its technology and expand beyond the Israeli and U.S. markets, Ori Bach, the company's vice president of products, told Calcalist in an interview Monday.