OurCrowd has invested in Hub Security, a startup that offers military-grade cybersecurity solutions for Fintech, cloud, blockchain, and data storage in general, in a $5 million Series A funding round led by AXA Ventures. Details of the investment were not announced.
Moshe Raines, Partner at OurCrowd and Labs/02 managing partner, said he was actively looking for a “software-defined HSM” platform for the past 12 months and he was very pleased when I met Hub Security and learned about their unique offering.
“We agreed very quickly to partner and invest,” said Raines.
The new funding will be used to expand the company’s technology and offer enhanced products to Fintech companies, focusing on enabling access to credit, corporate banking solutions, cross-border payments, and providing ultra-secure banking solutions.
Eyal Moshe, CEO of Hub Security, said the funding round was crucial to helping them continue their mission to provide cybersecurity solutions to top cloud and digital asset management providers:
“Hub Security’s end-to-end approach to the development and delivery of its hardware and software components ensures the highest level of security throughout the entire product lifecycle something that’s critical now more than ever in the era of COVID-19. We don’t take for granted the trust we’ve seen from investors, especially in the current financial climate,” stated Moshe..
Hub Security reports an expanding portfolio of Fintech, cloud, and insurance clientele. In February 2020, the company announced a strategic partnership with Seagate Technology as part of its new LyveTM Labs. The initiative was launched in order to provide methods for safe and secure data management solutions, both on and off the cloud.
Hub Security’s miniHSM is said to be the first of its kind to offer a pocket-sized HSM solution, which provides an “ultra-secure HSM-to-HSM communication layer” built for cloud, banking, healthcare, and government enterprises with scalable, “air-tight security” that can support any cloud-based or digital asset explained Moshe.
HUB Security utilizes military-grade cybersecurity tactics for its HSM architecture that is designed for FIPS140-2 Level 4 protection (In advanced stage process); the highest protection level available for mobile cryptographic security solutions on the market to date.
“On our FPGA-based HSM, we have an innovative approach,” Moshe said. “This is in sharp contrast to HSMs relying on legacy architecture, where you have to connect your source via PCIe — and depend on the operating system to deliver the data to your application. HUB Security approach gives very high bandwidth, as well as low latency.”
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