NewCore Ltd. Raises $66 Million in Seed Funding
NewCore Ltd., a startup specializing in secure identity platforms for both human and AI agents, has successfully closed a $66 million seed funding round. The round was led by Cyberstarts, with additional participation from Index Ventures and Evolution Equity Partners. The company operates from its twin bases in Tel Aviv, Israel, and San Francisco, USA.
Company Overview
NewCore is addressing a critical need in the digital security space. Traditional identity solutions are not equipped to handle the complexities of modern AI-driven environments. NewCore's platform is designed to securely govern both human and autonomous AI identities, providing a scalable and easily deployable architecture. This is particularly important as enterprises increasingly integrate AI agents into their operations.
Leadership and Vision
The company was co-founded by Zohar Alon, Amihai Neiderman, and Erez Yarkoni, who bring a wealth of experience in technology and security. Zohar Alon, who serves as CEO, previously founded Dome9 Security Ltd., which was acquired by Check Point Software Technologies. "The business world has changed dramatically, and existing identity systems are falling short," Alon stated, highlighting the urgent need for NewCore's innovative solutions.
Chief Technology Officer Amihai Neiderman has a background in Applied AI and previously led research at Israel's Unit 8200, a signals intelligence agency. Erez Yarkoni, the Chief Commercial Officer, brings experience from T-Mobile USA and Telstra Group Ltd.
Investment and Future Plans
The recent infusion of $66 million will be used to enhance NewCore's platform capabilities and expand its team. The company already employs over 50 people across its two offices. The funding will also support further research and development to refine their identity solutions, ensuring they meet the evolving needs of enterprises dealing with AI agents.
Looking Ahead
As the landscape of identity management continues to evolve, NewCore's solutions offer a promising approach to securing both human and AI identities. With this significant seed funding, the company is well-positioned to expand its reach and impact in the cybersecurity industry.
In a world where AI agents are rapidly becoming commonplace, NewCore's focus on secure identity management could prove to be a vital component for businesses navigating the complexities of digital transformation.