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Welcome to the November issue of Talking Cyber, YL Ventures’ monthly cybersecurity newsletter.
We are excited to share the latest global news impacting our industry as well as trends, innovations and tips for cybersecurity entrepreneurs and professionals. 
We hope you enjoy this issue and would love to get your feedback!

YL Ventures Team
Uber's Massive Hack: What We Know
Uber's disclosure that hackers accessed the personal information of 57 million riders and drivers last year, a breach it didn't disclose publicly until Tuesday, adds new potential legal woes for the already troubled company. Read more on CNNtech »
Uber Hack Shows Vulnerability Of Software Code-Sharing Services
The data breach at Uber Technologies Inc. holds a lesson for software developers who use third-party services to store and share code: be careful what you share. Read more on Bloomberg  »
Threat Predictions For Connected Health In 2018
The threats to healthcare will increase as ever more connected devices and vulnerable web applications are deployed by healthcare facilities. Read more on SECURELIST  »
Intel: Critical Flaws In Management Engine Leave Millions Of Desktop, Server Chips Vulnerable
Intel said in a security advisory Monday that flaws found on its management engine, server platform services and trusted execution engine have left millions of desktop and server chips vulnerable. Read more on CRN »
Tether, A Startup That Works With Bitcoin Exchanges, Claims A Hacker Stole $31M
Tether operates USDT, a cryptocurrency asset that it backs via the U.S. dollar. The company said that $30,950,010-worth of USDT was taken from its core treasury wallet “through malicious action by an external attacker.” Read more on TechCrunch  »
20 Million Google Home And Amazon Echo Devices Are Affected By The Blueborne Flaws
The IoT security firm Armis now reported that an estimated 15 million Amazon Echo and 5 million Google Home devices are vulnerable to BlueBorne attack. Read more on Security Affairs »
2017 Has Broken The Record For Security Vulnerabilities
2017 has already broken the record for the most security vulnerabilities - and that's only as of the third quarter of this year. There were some 16,006 vulnerabilities disclosed through Sep 30, which is more than all of 2016. Read more on DarkReading »
Four Years Later, Yahoo Still Doesn’t Know How 3 Billion Accounts Were Hacked
In a security hearing that called both Equifax and Yahoo’s past and present executives to Washington, D.C., we’re learning a bit more about what Yahoo didn’t know about the biggest hack in history. Read more on TechCrunch  »
Why Cybersecurity Workers Are Some Of The Hardest To Retain
Cybersecurity workers are in high demand, and the security industry may face a shortage of close to two million qualified personnel by 2022. That’s concerning giving the increasing number of cyber attacks we’re witnessing. Read more on VentureBeat  »
Round: $5.35M Seed 
Investors: YL Ventures, Blumberg Capital

Field: Medical Device Security 
Learn more »
Round: $8M Series A 
Investors: Intel Capital, Magma Venture Partners, Samsung NEXT
 
Field: Malware Detection
Learn more  »
Round: $25M Series B 
Investors: Lightspeed Venture Partners, Microsoft Ventures, TLV Partners, Shlomo Kramer
Field: Container Security

Learn more »
Round: $150M Growth
Investors: CVC Capital Partners, Pantheon 
Field: Vulnerability Management

Learn more  »
Round: $9.3M Series A
Investors: Bain Capital Ventures, Mayfield, individual investors

Field: DevSecOps
Learn more »
Round: €14M Series B 
Investors: Keen Venture Partners, INKEF Capital, KPN Ventures
 
Field: Threat Intelligence
Learn more »
Round: $25M Series E 
Investors: Insight Venture Partners
 
Field: Threat Intelligence
Learn more  »
Round: $27M Series B 
Investors: Bessemer Venture Partners, Spinnaker VC, Comcast, Keel Funds, Ballentine Partners, individual investors

Field: IoT Security
Learn more »
Round: $27.5M Series C​
Investors: Nokia Growth Partners, Moody's Corporation, AXA Strategic Ventures, Intel Capital, Sequoia Capital, Google Ventures, Boldstart Ventures, Two Sigma Ventures, Evolution Equity Partners 
 
Field: Security Risk Monitoring
Learn more »
Round: $30M Series C​
Investors: Battery Ventures, General Catalyst, Acero Capital

Field: Application Security
Learn more »
Acquired by: Continental
Amount: Undisclosed
 
Field: Automotive Cybersecurity
Learn more  »
Acquired by: Fidelis​
Amount: Undisclosed

Field: Cyber Deception
Learn more  »
Acquired by: Guidewire
Amount: $275M
 
Field: Cyber Insurance
Learn more »
Acquired by: Synopsys 
Amount: $565M

Field: Application Security
Learn more  »
IPO: $116M for a Market Value of $800M
Field: Network Access Control

Learn more  »
ShiftLeft, an innovator in application-specific cloud security, was founded by highly experienced entrepreneurs with an extensive background in security and cloud infrastructure: Manish Gupta, CEO (former Chief Product & Strategy Officer at FireEye), Chetan Conikee, CTO (former Chief Data Officer & GM Operations at CloudPhysics), and Vlad A Ionescu, Chief Architect (Founder of Lever OS). 
ShiftLeft is a cloud-based security service that helps protect your applications by creating a comprehensive security profile and enforcing that profile at runtime using a lightweight agent. ShiftLeft's fully-automated Security-as-a-Service (SECaaS) solution understands the unique security needs of each version of each application, creating custom security and threat detection capabilities.


ShiftLeft website  »
This month was full of exciting developments for YL Ventures and our portfolio companies.

We are very proud to announce our new portfolio company -
Medigate!
Medigate provides a dedicated platform to comprehensively secure connected medical devices on health care provider networks. Medigate has the right combination of superb team, innovative technology and unique approach to become a true leader in its space. We are excited to welcome
Jonathan Langer, Itay Kirshenbaum & Pini Pinhasov to our family and we look forward to supporting them in their mission to protect hospitals and patients from cyber threats.

YL Ventures was fortunate to host two special cybersecurity events over the past few months:
 
Our first ever Silicon Valley event brought together our community of partners & friends for an intimate gathering with amazing speakers: 
Manish Sarin (EVP, Corporate Planning & Development at Proofpoint), Dean Sysman (CEO & Co-Founder of Axonius) and Ben Bernstein (CEO & Co-Founder of Twistlock).

In Tel Aviv, we were lucky to hold a fascinating fireside chat with leading U.S. investors: Brendan Hannigan (Entrepreneur Partner at Polaris Partners), Chris Thomas (Founder & Partner at Fontinalis Partners), Alex Doll (Founder & Managing Member at Ten Eleven Ventures) and Charles Beeler (General Partner at Rally Ventures). You can find the full video of this session here

In YLV portfolio news, our first investment from YLV III, Axonius added a new CMO, Karamba Security was selected by CRN as one of 34 top IoT's emerging vendors to watch for, Twistlock was chosen by SINET as one of the 16 award winners of “2017 SINET 16 Innovator” – a huge honor! See below for more updates on our current portfolio.

Stay tuned for more exciting news about us and our portfolio companies!
Medigate announced $5.35 million in seed funding for its mission to secure the use of the millions of connected medical devices on healthcare provider networks. Backing for the technology platform, which lets CISOs and security teams defend networked medical devices from cyberattacks, comes from YL Ventures, with additional funding from Blumberg Capital. Learn More »
Axonius, provider of a unified visibility control platform for endpoint devices, welcomes Nathan Burke, former VP of Marketing at Hexadite (recently acquired by Microsoft), as its new Chief Marketing Officer. In his excellent blog post, “See All to Secure All: Why I’m Joining Axonius”, Nathan talks about Axonius' solution and why he chose to join the Axonius team. Learn More »
CRN recognized Karamba Security, a provider of cybersecurity solutions for connected and autonomous vehicles, as one of 34 hot IoT startups that solution providers should be aware of. “In the IT industry, shattering the status quo is the status quo. While big vendors generate their share of ground-breaking products, startups are a major driver of innovation and are changing the rules of the game.”  Learn More »
Twistlock, a provider of container and cloud native cybersecurity solutions, announced the availability of a companion guide to NIST SP 800-190, the Container Security Guide. The guide is designed to provide clear understanding of how to operationalize the recommendations in the Special Publication using Twistlock's platform.  Learn More »

INsecurity 2017

National Harbor, MD USA
29-30 November 2017   
Event Info »

BlackHat Europe 2017

London, United Kingdom
4-7 December 2017   
Event Info »

SANS Austin Winter 2017

Austin, TX USA
4-9 December 2017   
Event Info »

CiConnect 2017

Mountain View, CA USA
6 December 2017  
Event Info »


YL Ventures is excited to partner with CiConnect. Join us and Axonius, who will present in the summit!

Brendan Hannigan, Entrepreneur Partner, Polaris Partners
"Don't put strategic business development on the back burner.  A common mistake of emerging companies is to put off investing in outreach and relationships with strategic partners (i.e. potential acquirers).  While an exit may be years down the road, it takes a long time to nurture valuable relationships and establish iron-clad proof points of partnership value in the market.  Focus on joint customer value and technology integrations.  Don't be too worried initially about being 'buried' in the partner organization and instead demonstrate value at multiple levels.  Relationships and experience that span a couple of years minimize risk for the acquirer and maximize the outcome for you.

Brendan Hannigan is an Entrepreneur Partner at Polaris Partners. Previously he was General Manager of IBM Security. Before IBM, Brendan served as President & CEO of Q1 Labs which was acquired by IBM in 2011. 

Polaris Partners currently invests out of its eighth fund of $435m, in technology and healthcare companies across all stages of their life cycles. Polaris Partners invested in Twistlock, YL Ventures' portfolio company. Brendan Hannigan serves as its Chairman.


About Brendan Hannigan »
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YL Ventures funds & supports brilliant Israeli tech entrepreneurs from seed to lead. Headquartered in Silicon Valley with deep roots in Israel, we manage approximately $135 million of venture capital investment funds focused primarily on cybersecurity.

Copyright © 2017 YL Ventures, All rights reserved.


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