US firm Cofense to buy Israel’s Cyberfish to better detect and avert phishing

US cybersecurity firm Cofense, a developer of software to detect and respond to phishing attacks, said Wednesday it was acquiring Israel-based startup Cyberfish, which uses computer vision and machine learning technology to prevent such attacks.

Financial details of the deal were not provided.

Following the acquisition, Cofense will open its first R&D center in Israel, led by the Cyberfish team in Beersheba.

By integrating innovative machine learning capabilities from Cyberfish with Cofense’s detection and response technology, Cofense will bring to market a holistic, advanced automation solution for email protection, detection, and response, the US firm said in a statement.

According to the FBI, phishing was the most common type of cybercrime in 2020, with incidents doubling, as businesses transitioned to remote work during the coronavirus pandemic.

Cofense’s phishing intelligence software, used by thousands of enterprises around the world, will be also used to train and evolve Cyberfish’s machine-learning algorithms to block malicious emails in real-time, the statement said.

“Together, Cofense and Cyberfish will offer a one-stop shop for an organization’s email security needs, eliminating the need for many expensive and slow-to-deploy legacy solutions,” said Rohyt Belani, Cofense CEO and co-founder, in the statement.

The joining of forces will help “solve the phishing problem and take email security to another level,” said Dima Kagan, Cyberfish CEO and co-founder. “As we met with the team, it quickly became obvious that we share the same vision for how to revolutionize the email security market.”

Cyberfish’s technology, which can be installed in less than a minute to enable real-time phishing protection, will be immediately deployed as part of the Cofense services and be available to its customers globally.

Designed for enterprise organizations, Cofense’s phishing detection and response  platform leverages a global network of 26 million people actively reporting suspected phishing, combined with advanced automation to stop phishing attacks faster and stay ahead of breaches.

Cyberfish says it is a “zero-second” phishing protection solution that combines computer vision and artificial intelligence to stop phishing emails and websites in real-time, even before they have been reported and added to the blacklists.

Cyberfish was founded in 2017 by Dima Kagan, Eugene Geht, and Amit Israel. The company was backed by angel investors Spinach Angels and venture capital fund JVP and is headquartered in Beersheba, Israel, at a cybersecurity incubator set up by JVP. The startup had raised $40,000 to date, according to the database of Start-Up Nation Central.

“Cyberfish, which started out in JVP’s cyber incubator in Beersheba, has developed a groundbreaking technological solution that addresses one of the most significant threats in the cyber world in general, and particularly in a post-corona reality. Phishing is responsible for 90% of the world’s cyber attacks,” said Erel Margalit, JVP founder and executive chairman.

“The establishment of Cofense’s first R&D center in Israel, following the acquisition, will create significant employment opportunities for the area,” he predicted.

Source Link: https://www.timesofisrael.com/us-firm-cofense-to-buy-israels-cyberfish-to-better-detect-and-avert-phishing/

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