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Israel is home to around 450 active startups in the field of cybersecurity, according to a recent report in Reuters<\/a>. Now, the one with perhaps the most distinctive name of them all is announcing some funding for a\u00a0novel approach to authentication.\u00a0<\/span>Secret Double Octopus \u2014 which\u00a0borrows a concept from the world of nuclear launch codes to build extra-secure, but simple, keyless authentication services \u2014 is announcing that it has raised $6 million in funding.<\/span><\/p>\n The Series A includes backing from\u00a0Jerusalem Venture Partners, Liberty Media\u2019s Israel Venture Fund, Iris Capital, Benhamou Global Ventures and angel investor Yaniv Tal, and will be used to expand the startup\u2019s RD and business development in the U.S. and Europe.\u00a0<\/span><\/p>\n Cybercrime and malicious hacking are on the rise, and Israel, a country known for its security services, is positioning itself as one of the leading regions when it comes to producing solutions to tackle this issue. Just earlier today, another security startup called Illusive Networks \u2014 which focuses on deception-based protection \u2014 announced new backing<\/a> from\u00a0Microsoft Ventures.<\/p>\n Founded by a group of academics and IT industry execs \u2014 Professor\u00a0Shlomi Dolev (chief science officer), Dr Shimrit Tzur-David (CTO), Raz Rafaeli (CEO) and Chen Tetelman (VP RD) \u2014 Secret Double Octopus is a reference to how the company describes its approach to authentication, which is modelled on how nuclear launch codes are created.<\/p>\n Typically, with nuclear weapons, several people will have a piece of the full launch code, and nothing\u00a0will launch\u00a0unless all those pieces fit together, and fit correctly. This is a protection that is based on making sure that there is consensus among a group of people before taking an action, relying on the wisdom of a small group. Secret Double Octopus takes that idea and creates authentication profiles that essentially reproduce\u00a0those\u00a0segments into\u00a0a single identity on both sides of the authentication equation.<\/p>\n \u201cThere are many tentacles on both sides, both for the individual and the system that individual is accessing,\u201d said Amit Rahav, the VP of marketing, in an interview.<\/p>\n Secret Double Octopus is tackling what it has identified as a key problem in cybersecurity, at the authentication layer. While the mantra today is to switch services to two-factor-authentication so that your password is bolstered by authentication codes through SMS, or an external, code-generating fob, or other services, some of these have been proven to be vulnerable<\/a> to hacking, or simply inconvenient to use.<\/p>\n Its solution is to provide a series of authentication parameters based not just on passwords, but also fingerprints and biometric measures\u00a0as picked up by your handset. The theory is that these are far more natural and harder for a malicious hacker to crack.<\/p>\n \u201cIt is seldom the case where security solutions ease user experience,\u201d said\u00a0Yoav Tzruya, partner at JVP, in a statement. \u201cSecret Double Octopus offers the best of both worlds: theoretically secure technology, immune to all computational challenges and quantum attacks, seamless user experience, and the ability to deploy in conjunction with all existing solutions.\u201d<\/span><\/p>\n (It\u2019s not the only company looking at taking this kind of approach. UnifyID<\/a>, which was in our Startup Battlefield in San Francisco last September, is another startup looking at biometrics as a route to authentication. And Google has been working on a similar system for Android<\/a>.<\/p>\n Secret Double Octopus says that it is\u00a0also working on related algorithms that can be used in IoT systems and connected objects, as well as in networks with the sending of packets.<\/p>\n This latest funding round follows a previous $1.5 million seed fund led by JVP, after Secret Double Octopus passed through its Cyber Labs incubator.<\/p>\n \n \u201cSecret Double Octopus is improving network security by offering keyless authentication and post-computational (\u201cquantum-safe\u201d) data-in-motion protection,\u201d said Yaron Rosenbaum, Partner at Iris Capital, in a statement. \u201cWith the imminent cyber security risks presented by IoT and Quantum Computing, we believe Secret Double Octopus is uniquely positioned to address a very large market potential, with its unique set of products based on strong and well established scientific principles.\u201d<\/span><\/p>\n \n <\/p>\n Featured Image: damn_unique<\/a>\/Flickr<\/a> UNDER A CC BY-SA 2.0<\/a> LICENSE<\/small><\/p>\n Article source: http:\/\/feedproxy.google.com\/~r\/techcrunchIt\/~3\/O2XujPFs_QM\/<\/p>","protected":false},"excerpt":{"rendered":" Israel is home to around 450 active startups in the field of cybersecurity, according to a recent report in Reuters. Now, the one with perhaps the most distinctive name of <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[19],"tags":[25],"class_list":["post-3044","post","type-post","status-publish","format-standard","hentry","category-enterprise-software","tag-enterprise"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t