Talanx backs Israeli cybersecurity start-up ReSec Technologies

European insurance group HDI, part of Talanx Group, has co-invested in Israeli cybersecurity start-up ReSec Technologies' $4 million Series A funding round.

The financing was led by Hong Kong-based Venture Capital fund QBN Capital, with participation from HDI, US-based investment house Disruptive Ventures, and VC funds Pico Venture Partners.

ReSec's cyber security solution is designed to provide "full-prevention solution" to organisations from both known and unknown file-based malware threats. Its patented technology aims to "disrupt a crowded market" that it believes is dependent on detection solutions, which often present both security and usability challenges to organisations.

The start-up plans to use the proceeds to expand its operation globally, grow its team to focus on sales and marketing activities and to continue its R&D investment.

"We are extremely excited to complete this round and to have QBN and Talanx join our journey. The investment will allow us to expedite development and focus on growth and expansion," said Tal Yatsiv, ReSec's executive chairman and CEO.

Ulrich Wallin, managing director of Hannover Digital Investments, the venture arm of the HDI Group, commented: "ReSec is a financial investment for the HDI Group that offers starting points for operational and strategic cooperation; we have a strong belief in the company's future. We are pleased to join QBN and ReSec's existing investor lineup."

Philea Chim, senior vice president at QBN Capital, added: "ReSec's solution overcomes the limitations of traditional and advanced-threat solutions alike and allows organizations to achieve a powerful balance between security and usability. We are extremely impressed with ReSec's innovative solution and the value it brings to enterprises. We believe that the company is set up for rapid growth."