Network security firm AlgoSec wins $36 mln from Claridge Israel: Reuters

Network security company AlgoSec said on Wednesday it raised US$36 million from investment firm Claridge Israel to help it expand globally.

AlgoSec, which is headquartered in the United States with its research and development in Israel, says its system automates and orchestrates network security policy management, and that it has 1,500 enterprise customers globally.

This is the first external investment in AlgoSec.

Claridge Israel is a partnership between Caisse de dépôt et placement du Québec, one of the largest institutional investors in Canada, and the Bronfman family’s investment firm Claridge Inc, which is based in Montréal.

Update: Founded in 2004, AlgoSec is led by Chairman and CEO Yuval Baron.

(Reporting by Ari Rabinovitch; Editing by Tova Cohen)

(This story has been edited by Kirk Falconer, editor of PE Hub Canada)

Photo courtesy of AlgoSec