As the global threat of cyber-attacks grows exponentially, so do companies that develop software to fight them off. Some of the world’s oldest and best-trusted players are headquartered in Israel (beginning with Check Point Technologies, founded in 1993), or have R&D operations here. IBM now plans to open a cyber-security software lab in Israel. In 1999 Udi Mokady co-founded CyberArk Software, Israel’s largest private cyber-security company. More than 40% of the Fortune 100 and 17 of the world’s 20 largest banks are counted among its 1,400 customers. CyberArk has developed award-winning software that “locks up” critical IT infrastructure, monitoring and recording everything done with data accessed by authorized (“privileged”) users on-premise, off-premise or in the cloud.
Given the amount of sophisticated attacks out there, the border between insider and outsider has disappeared, and this has led to greater demand for “inside-out” solutions. A large part of most attacks relates to abusing privileged accounts and exploiting them to gain access to sensitive resources.
CyberArk found in its most recent annual survey that 80% of nearly 1,000 global executives and IT security professionals believe cyber-attacks pose a greater risk to their nation than physical attacks, and 51% believe a cyber-attacker is currently in their corporate network or has been in the past year. Since barely a day passes without news of the latest battle in the cyber warfare front, new and established Israeli companies that deal with all the different aspects of the problem are well positioned to sell their products.