Israel’s PerimeterX raises growth capital, FundGuard snags Series A

 Israel’s PerimeterX raises growth capital, FundGuard snags Series A

Israeli cybersecurity startup PerimeterX has secured a large round of growth capital while software-as-a-service based company FundGuard has managed to raise early-stage funding.

PerimeterX, which makes app protection software, said in a statement it has raised $57 million from a clutch of investors to expand into new regions and business verticals.

This takes the total amount the company has mopped up so far to $144 million.

Investment management firm AllianceBernstein led the new round. Stereo Capital, JS Capital and Golden Arc Capital also joined as new investors in the company.

Existing investors in PerimeterX include Adams Street Partners, Canaan Partners, DTCP, Scale Venture Partners and Vertex Ventures US.

PerimeterX CEO Omri Iluz said the round gives the company the runway to extend its market reach beyond its core retail e-commerce vertical into new industries such as financial services. It also enables the company to develop its foothold in Europe, the Middle East, Africa and Asia-Pacific, he added.

AllianceBernstein routed its investment in PerimeterX through the Growth Stage Capital platform of AB Private Credit Investors, its middle-market direct lending vertical. This vertical manages over $10 billion and can invest up to $200 million of credit in a company. It also makes equity co-investments.

FundGuard

Tel Aviv- and New York-based fintech company FundGuard has $12 million in a Series A funding round led by venture capital firm Team8. This takes its total fundraising so far to $16 million.

Existing investors LionBird Ventures and Blumberg Capital also joined in the new round, FundGuard said in a statement.

Several veterans of the banking and asset management industry came in as new investors. These included former JPMorgan executives Heidi Miller and Jay Mandelbaum.

FundGuard is an artificial intelligence-powered SaaS investment management and asset servicing enterprise platform. It was set up in 2018 by Lior Yogev, Uri Katz and Yaniv Zecharya.

Asset managers use FundGuard’s AI-based solutions to manage investments across mutual funds and exchange-traded funds, alternatives, insurance and pensions.

Aman Malik

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