CyVers, a Tel Aviv, Israel-based cybersecurity startup, announced that it raised $8 million in seed funding to protect against fraudulent cryptocurrency purchases before reaching the ledger.
The round was led by Elron Ventures, with participation from Crescendo Venture Partners, Differential Ventures, HDI, Cyber Club London, and Cyber Future.
“CyVers’ platform collects cross-blockchain data, streaming it to our sophisticated monitoring system,” said Meir Dolev, Co-founder & CTO. “Our analytics engine predicts evolving attacks while autonomously understanding attacker behaviours. These include smart contract exploits, private key leakage, Flashloans, etc. Once it detects the evolution of an exploit pattern, the AI system generates alerts while providing enough time to act and the best-known solution, before the exploitation and money laundering progresses.”
CyVers customers include Israeli-founded companies Bit2C, Solidus Capital, and CoinMama, among others.
Company: Cyvers.AI Ltd.
Raised: $8.0M
Round: Seed Round
Funding Month: December 2022
Lead Investors: Elron Ventures
Additional Investors: Crescendo Venture Partners, Differential Ventures, HDI, Cyber Club London, and Cyber Future
Company Website: https://www.cyvers.ai/
Software Category: Proactive Web3 Security
About the Company: Founded by experienced entrepreneurs Deddy Lavid and Meir Dolev, Cyvers is a next-generation AI-based security company that provides real-time detection and prevention of crypto attacks for Web3 and a decentralized economy. Cyvers provides proactive Web3 security for centralized, decentralized finance, and smart contract applications via detection and interception of crypto attacks across blockchains. The company’s agentless, plug-and-play solution captures transactions during the few moments between the time a transaction is broadcasted and when it is registered irreversibly to a blockchain ledger.
Source: https://techstartups.com/2022/12/01/israels-cybersecurity-tech-startup-cyvers-secures-8m-seed-funding-make-web3-crypto-exchanges-safer-us/