Funds will be used to enhance product offering and strengthen sales channels by leveraging investor’s strong market positioning & access to ICARO’s telco clients
Assac Networks, which specializes in cyber solutions for the complete protection of mobile devices from cyberattacks, announced a new investment of $7.5 million by ASPIS Cyber Technologies.
The company, which focuses on government agencies, defense and commercial organizations, will use the funding to enhance its product offering, while also leveraging ASPIS’s strong position in the international market to strengthen its own sales channels, in particular through the investor’s major client ICARO.
Assac had previously received a seed-stage investment from Canadian-Israeli VC Awz Ventures.
Assac Networks’ flagship product, ShieldiT, is the only solution with a unified, managed anti-hacking and anti-tapping capability for Bring Your Own Device (BYOD) smartphones, which are the most vulnerable point in an organization's IT network today. The company was recently awarded a government contract from one of the GCC countries.
ShieldiT integrates two proven smartphone security solutions originally designed to meet the strict, high-level security requirements of the security and defense market, which the company has adapted for the consumer and corporate user. The company’s clients include law enforcement and intelligence agencies, and large enterprises around the world.
“We are proud to enter this partnership with ASPIS Cyber Technologies, which opens up extensive opportunities for our company,” says Shimon Zigdon, founder and CEO of Assac Networks.
"ICARO, a major consumer of ASPIS cyber services, has over 400 million subscribers worldwide, all of whom will now be able to use our unique comprehensive protection technology for their endpoint cell phones. We are confident the growth will come from the Telco vertical market. We thank ASPIS for their confidence in our solutions, as illustrated by this investment.”
“As a provider of cyber protection services to government-federal, corporate and cellular subscribers, we are delighted to incorporate Assac’s solution into our offering,” says Paul Feller, executive chairman of ASPIS Cyber Technologies.
“It will now be available to all our customers, including American company ICARO, whose customers include TIM Mobile, Oi, AT&T, América Móvil , Vodafone and more. With 87% of cyber hacks now happening through employees' cell phones, it was important for us to invest in a company that has a complete and proven solution. We are confident that this investment will bear fruit for everyone involved.”
Established in 2011 by seasoned veterans of the Israeli defense and security industries, Assac Networks develops and implements unique end-point security solutions. The company is particularly focused on the development, integration, and marketing of network forensic and security products and solutions in the fields of mobile and landline communication – as well as cyber protection systems for ISPs and mobile carriers, government agencies and commercial organizations.
ASPIS Cyber Technologies provides cyber intelligent protection, global security and end-point solutions that protect consumers, businesses and governments against theft, terrorism and crime.
Leveraging AI to combat the world's greatest security challenges, the company provides continuous innovation that leverages the latest breakthroughs in cyber protection, delivering an ecosystem of technology to protect organizations, municipalities, military and governments across clouds, networks, and mobile devices.
ASPIS is headquartered in New York, with international offices located in Tel Aviv, Miami, and Los Angeles.
ICARO empowers global telecoms, media companies and broadcast television networks, with turnkey white-label technology that empowers its partners to better monetize their subscribers through personalized, state-of-the-art, AI-driven technology.
Creating personalized content offerings and digital experiences for its customers, ICARO has over 400 million subscribers under contract in LATAM, North America, Europe, and the Middle East, and partners with TIM Mobile, Oi, AT&T, América Móvil, Vodafone, AZTECA TV, Record News, COMCAST, RCN and Multi Medios.
ICARO is headquartered in New York, with international offices located in New York, Los Angeles, São Paulo, Mexico City, Toronto, Boca Raton and London.
Assac Networks is a participant and sponsor of Cybertech Global TLV, which will take place (in person!) between March 1st-3rd. For additional information, please visit the event’s official website.