Cybersecurity Startup Sepio Raises $6.5 Million

Tel Aviv-based cybersecurity startup Cyber Sepio Systems Ltd. has raised a $6.5 million series A funding round, the company announced Thursday. The round was led by Hanaco Ventures and Merlin Ventures, with the participation of existing investors Energias de Portugal (EDP), Mindset Ventures, and Pico Partners. The new round brings Sepio’s total raised to date to $11 million, according to the company’s statement.

Founded in 2016, Sepio develops hardware-focused cybersecurity technology for organizations and enterprises. The company’s service is being used at over 25 banks, insurance, and telecom companies in the U.S., Singapore, Brazil, South Africa, and Israel.

In March, Calcalist reported that EDP has made a strategic investment in Sepio, the financial terms of which were not disclosed.