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nsKnox raises $15 million in a Series A funding round led by M12

Nir Tenzer, CEO, nsKnox

nsKnox, a corporate payment protection solution, has announced that it has raised $15 million in a Series A funding round led by M12 (formerly- Microsoft Ventures) and Viola Ventures with the participation of investors such as Discount Bank and other seed investors.

The funding will enable nsKnox to expand its global customer base and to further develop its corporate payment protection platform – helping to ensure verified and secure business transactions, mitigate reputational risk and prevent billions in corporate losses.

According to nsKnox, its platform protects organizations against cyber frauds, internal fraud, social engineering and data manipulation. The technology allows organizations to validate payment authenticity, verify sender and receiver, and identify and prevent manipulations – safeguarding the payment process seamlessly across every point of transaction, including enterprise, bank, and supplier. The platform utilizes nsKnox’s innovative Cooperative Cyber Security (CCS), a new paradigm combining the strength of multiple cybersecurity systems from several organizations to secure both outbound and inbound payments from fraud.

nsKnox CEO Nir Tenzer commented “nsKnox is bringing corporate payment protection into the digital age, arming companies in the battle against payment fraud, manipulation and cybercrime. The backing of M12 and Viola Ventures is a tremendous vote of confidence in our ability to protect organizations worldwide and help them tackle this incredibly costly issue.

“The evolving nature of cybercrime creates a perpetual challenge for businesses to detect and mitigate fraudulent behavior, which costs corporations significant amounts of money every year,” said Lior Litwak, Principal at M12. “nsKnox’s corporate payment solution solves a critical business issue at scale, saving businesses the time, money and headache that result from fraudulent threats. We look forward to being a part of nsKnox’s journey as they grow and expand.”

Founded in 2016, nsKnox is a fintech security company which invented the field of Cooperative Cyber Security (CCS) to offer a new approach to protecting corporate payment systems against insider threats, cyber-fraud, and data manipulation attempts. It is based in Boston and Tel Aviv.

 

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