The report cited Experian’s strategic approach, market presence, and CrossCore® capabilities with especially high ratings. It commented, “The company’s comprehensive fraud detection and identity management solutions, including the CrossCore orchestration faculty, are trusted by businesses worldwide to protect against a wide range of fraud types – 97% of surveyed financial service practitioners were familiar with the Experian brand.”

“We help our bank clients protect their customers and assets against the ever-increasing sophistication of AI-supported fraud attacks where traditional security measures can no longer keep up as well as our clients would like them to,” said Alex Lintner, Chief Executive Officer, Experian Software Solutions. “The dramatic rise in digital accounts over the past few years has created enormous financial risk for banks and consumers. In response, we are constantly innovating ‘protective AI’ technology to offer the industry’s most effective identity verification and fraud prevention solutions — and we’re pleased our efforts have been acknowledged by Liminal.”

Experian also ranked highly in both the Strategy and Product Execution categories. “Our diverse range of services provides a valuable asset for banks faced with the three-pronged challenge of trying to simultaneously solve for authentication, identity and fraud prevention,” added Lintner. “Our solutions provide excellent protection against phishing and social engineering through advanced behavioral biometrics and analytics as well as Bot detection capabilities.”

The report highlighted the value and features of Experian CrossCore, which combines risk‑based authentication, identity proofing and fraud detection into a single, state-of-the-art cloud platform. Regarding CrossCore, the report stated that it provides “a fully featured toolkit that leverages a wide range of capabilities for highly accurate and scalable ATO prevention” and is “one of the most comprehensive product capability suites among the vendors we profiled.”

“We’re pleased to recognize Experian for its strong leadership position in authentication, fraud prevention and identity protection,” said Travis Jarae, CEO at Liminal. “Account takeover poses a major risk in the banking sector, where unauthorized access through phishing, malware or stolen credentials leads to misuse of accounts for theft and other malicious activities — resulting in significant financial losses and the undermining of customer trust.”

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“K Street Capital is excited to have invested in PrivacyHawk’s recent funding round,” said fund Managing Director and Founder Paige Soya. “We love that this is a mission driven product solving a huge problem. And this is the right team to be the ones to lead this explosive new category.”

PrivacyHawk grew 1100% in 2023 and is on track for similar rapid growth in 2024, making it one of the fastest growing consumer tech companies in the world. Its personal data protection service has grown exponentially in popularity due to its ability to mitigate a serious problem that everyone faces: personal data exposures, data brokers, and data leaks leading to an unprecedented amount of spam, scams, identity theft, and fraud.

The innovative solution offered by PrivacyHawk works by addressing the root of the problem: consumers’ personal data being exposed in thousands of databases, sold by data brokers, and exposed to scammers from data breaches. The company’s easy-to-use privacy app reduces your digital footprint by scanning to identify where your personal data is exposed, automatically removing personal data exposures, and providing the ability to delete your data from thousands of corporate and data broker databases significantly lowering your risk of being in a data breach by 90% or more. These data breaches, such as the recent National Public Data leak that exposed nearly every U.S. consumer’s social security number and other personal information, and the AT&T breach that affected nearly all of its wireless customers, can have devastating consequences.

“We’re on a mission to help everyone reduce their digital footprint, personal data exposure, and protect their privacy using cutting edge automation, AI, and comprehensive personal data protection algorithms,” said Justin Wright, CTO and Co-Founder of PrivacyHawk. “There is a lot of talk about the need for personal data protection, but there were no solutions that were really solving the problem. That is why we started PrivacyHawk.”

“We’re excited to announce the extraordinary milestones we have reached in the size of our user base and the addition of new investors that believe in us and our mission,” said CEO and Co-Founder, Aaron Mendes. “This growth is a testament to the depth and breadth of the problem we are solving. Everyone knows that privacy and personal data are an integral part of who we are and must be protected. We’re proud to be building the first all-in-one solution to help protect everyone’s personal data from falling into the wrong hands.”

PrivacyHawk plans to use the funds to invest in improving its flagship product and to continue to grow awareness among the masses, all of whom need personal data protection to reduce their risk of spams, scams, and identity theft.

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Experian^® today released its 2024 U.S. Identity and Fraud Report revealing that generative AI (Gen AI), deepfakes and cybercrime are critical threats putting intensifying pressures on businesses. The 9th annual Experian Identity and Fraud Report provides valuable insights into emerging fraud trends such as these, as well as shifting consumer expectations.

Top fraud concerns and expectations from consumers

According to the FTC, consumers reported losing more than $10 billion to fraud in 2023 alone, representing a 14% increase over the previous year and the highest dollar amount ever reported. Experian’s research shows over half of consumers say they’re somewhat or very concerned about conducting activities online with identity theft (84%) and stolen credit card information (80%) as their top online security concerns, an over 20% jump from the previous year. Additionally, online privacy (67%), phishing emails or phone scams (65%), and false information or fake news and ads (49%) round out the top five online security concerns for U.S. consumers.

While consumers want the convenience and accessibility of digital transactions, they don’t want to compromise on security. As such, consumers’ expectation that businesses will react to their fraud concerns has remained high at 82%. People understand the connection between identity verification and a positive customer experience with 63% saying it’s extremely or very important for businesses to be able to recognize them online.

The ability to repeatedly identify consumers can translate to trust. Eighty-one percent of consumers say they’re more trusting of businesses that can accomplish easy and accurate identification.The report also found that financial services companies were the most trusted, with retail banks, P2P lending and buy now, pay later financing all listed as top trusted organizations by U.S. consumers.

Businesses recognize the importance of Gen AI but there’s a lack of focus on fraud prevention

This year’s data found that companies reported high engagement and investment in Gen AI, Gen AI security solutions and AI models that improve customer decisions. With that said, businesses recognize the challenges of Gen AI with 70% of businesses saying that AI fraud is expected to be the second greatest challenge for their business. In fact, Tier 1 businesses listed Gen AI fraud as their top stress point.

Despite those concerns, funding for Gen AI fraud detection and prevention is lacking. When asked about the most important potential investment areas for 2024, businesses ranked detecting and preventing Gen AI fraud and deepfakes as the 12th most important investment area behind prevention for legacy fraud types like identity theft and first-party fraud. As the widespread use of Gen AI continues to accelerate, businesses will need to be prepared to address this evolving fraud.

Consumers want more behavioral and physical analytics verification

Currently, multifactor authentication (48%) and the use of passwords (45%) are the most used fraud prevention methods. Among the methods used most recently, physical analytics (71%), PINs sent to a mobile device (70%) and behavioral analytics (66%) evoke the highest sense of security for consumers, with security questions (63%) and passwords (58%) rounding out the top five. Interestingly, while consumers have greater trust in physical biometrics and behavioral analytics, less than 30% of businesses are using these solutions — showing companies could consider investments in physical and behavioral analytics to verify identities and combat fraud.

“With digital transactions increasing every day and new technology changing the fraud landscape, our latest report underscores the need for businesses to review their current strategies and invest in the right tools to address the evolving complexity of fraud schemes of the future,” said Kathleen Peters, Chief Innovation Officer for Experian in North America. “Companies need to take a multilayered approach to fraud prevention that leverages the right data, analytics and technology in an orchestrated way to combat fraud and build trust and positive experiences with legitimate customers.”

Experian’s identity verification and fraud prevention solutions helped clients avoid an estimated $15 billion in fraud losses globally last year. To read Experian’s 2024 Identity and Fraud Report, please visit https://www.experian.com/innovation/thought-leadership/2024-us-identity-and-fraud-report.jsp. To learn more about Experian’s fraud prevention solutions, please visit https://www.experian.com/business/solutions/fraud-management.

Methodology:

Experian’s 2024 Identity and Fraud Report is based on two major surveys conducted in the U.S. in March 2024. The first asked more than 2,000 U.S. consumers about their online interactions and expectations regarding security and customer experience. The second survey asked more than 200 businesses in the U.S. about their strategies for effective fraud management, customer identification and authentication, including investments related to security and customer experience. Companies ranged in size from $10–$49 million to above $1 billion in revenue. Industries that completed the survey include retail banks, fintech, consumer technology and electronics, payment system providers, and many other companies from a range of verticals.

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Forrester Consulting, commissioned by Regula to conduct “The New Imperative: Digital IDs” study, underlines that most respondents, 89%, anticipate a positive impact on revenue from the adoption of digital IDs. Specifically, 32% of businesses anticipate a 20%-29% rise in revenue, 23% foresee a 10%-19% increase, 16% predict a boost of over 30%, and 18% expect up to a 10% growth.

Interestingly, the Middle East seems to be more optimistic about adopting digital IDs. Only 4% of respondents in this region think that there will be no significant change in revenue, which is much lower than the global rate (10%) or the one in Europe, where 13% of businesses do not expect any change.

The most promising areas

“The New Imperative: Digital IDs” study indicates that the benefits from digital ID implementation will be most noticeable and yield the fastest results in the following top five use cases:

• online financial transactions (46% of respondents globally);
• online account opening (38%);
• eCommerce transactions (33%);
• eGovernment services (32%);
• remote customer onboarding (31%).

The Forrester Consulting study underlines: “These results highlight a significant expectation that digital IDs will enhance efficiency, security, and user experience in sectors where identity verification plays a crucial role in transaction security and customer trust.”

Regional Differences

For the region of North America, the most significant effect is expected to be experienced with online financial transactions (51%), online account opening (39%), remote customer onboarding (36%), and eCommerce transactions (35%). All of these rates are higher than the global. Interestingly, the region is rather more inclined to enhance age verification through digital IDs, with 21% expecting to see improvements in this use case (globally, this rate is 19%, and in the Middle East it is 14%).

In Europe, businesses share the global expectations. Thus, 44% anticipate seeing positive changes in online financial transactions, 38% – in online account opening, 36% – in eGovernment services, 30% – in remote customer onboarding, and 29% – in mobile device access. Europe seems to be more determined to improve eGovernment services: 36% of respondents here (compared to 32% globally) expect to benefit from adopting digital IDs.

In the Middle East, the study respondents express their expectations to see improvements in online financial transactions (44%) and online account opening (35%), though these rates are slightly lower than global. More than the other regions, the Middle East expects to see positive changes in workplace access and remote work (30%, compared to 25% global and 24% in Europe and North America), and healthcare services access (26% compared to 15% global and 9% in Europe).

“Businesses are shifting their approach to identity verification. Once merely a legal requirement or a commodity, it has now become a technological advancement and a strategic imperative. Our study shows that companies worldwide see the transformative potential of digital IDs to boost revenue, enhance security, and improve user experience. As we innovate and deliver advanced identity verification solutions, we are dedicated to helping businesses unlock these benefits and thrive in the digital era,” says Ihar Kliashchou, Chief Technology Officer at Regula.

If you are interested in getting more insights from the study, “The New Imperative: Digital IDs,” please download a complimentary copy from the Regula website.

Additional resources:

• 42% of companies globally are ready to implement Digital ID
• Digital IDs are not going to replace physical documents
• Regional expectations for digital ID fraud reduction
• EU Digital Identity Wallet: Exploring Its Current Potential

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Fraudulent transactions in the first half of 2024 were up over 73% year over year, and suspected fraudulent transactions increased by over 84%, according to the 2024 Mid-Year Identity Fraud Review, released today by AuthenticID, a global leader in identity verification and fraud prevention solutions. The report explores the continued rise in identity-based fraud across multiple industries and the accelerating effect of AI technology on fraud tactics, while outlining the latest tools businesses can use to fight fraud.

The report offers the very latest in growing fraud tactics that are already impacting businesses and consumers in 2024. Following the trajectory of emerging tactics explored in the 2024 State of Identity Fraud Report, the data offers a stark warning to businesses about the threats, and how customers respond to business’ responses, that are posed by identity fraudsters. The report offers comprehensive analysis of identity fraud trends based on two sources: internal proprietary data anonymized and analyzed from AuthenticID’s ID verification, biometric authentication, and watchlist technologies; and insights from AuthenticID’s fraud surveys conducted in Q2 2024, surveying consumers in North America.

The surge in AI-enabled fraud, as well as the increased use of deepfakes for identity fraud tactics like account takeover attacks and injection attacks, have a significant impact on fraud trends and consumer sentiment. Noteworthy impacts on businesses and consumers in the report include:

• 40% of survey respondents have already had their personal data exposed as part of a breach in 2024;
• 91% of people could not select a real person from a line of deepfake headshots;
• 68% of people said that the threat of identity fraud impacts how they make purchases, open accounts, and do business.

“What we’ve seen thus far in 2024 is that identity crime will continue to hit record highs, targeting both businesses and consumers,” said Blair Cohen, AuthenticID Founder & President. “With the proliferation of new, generative AI-powered tools for fraudsters, businesses and consumers alike face a significant challenge in the form of breaches and business attacks. But those same generative AI-powered tools can also stop fraud. It’s up to businesses to stay ahead of fraud as it continues to evolve—fast.”

The report also documents consumer and business sentiment regarding digital identity trends, such as biometric authentication and the growth of mobile driver’s licenses (mDLs), with a notable shift in consumer openness to the adoption of digital identity credentials as well as biometric authentication to access accounts.

The report also shares cutting-edge developments from AuthenticID’s Identity Fraud Taskforce, including new product enhancements that solve crucial challenges in identity verification, such as synthetic signatures, false rates in authentication, slow verifications, and deepfakes.

AuthenticID will continue to drive innovation forward in its technology to ensure companies can stay ahead of changing fraud techniques and regulatory requirements while delivering best-in-class customer experience.

The full 2024 Mid-Year Identity Fraud Review is available to download at https://www.authenticid.com/2024-mid-year-fraud-review-report/.

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Forrester Consulting, commissioned by Regula to conduct the 2024 study, points out promising global expectations for fraud reduction through the implementation of digital IDs within organizations’ identity verification (IDV) processes. Globally, the largest group of respondents, 27%, expects a reduction in fraud of 20% to 29%. Additionally, 25% foresee a decrease in fraud of 30% to 39%, while 14% expect a reduction of 40% to 49%.

Regional Insights

• North America shows higher expectations, with 36% of organizations expecting a 20% to 29% reduction in fraud, surpassing the global rate. However, a more cautious 18% anticipate a 30% to 39% reduction, indicating a skeptical outlook compared to the global average.
• Europe aligns closely with global trends, with 26% of respondents expecting a 20% to 29% reduction in fraud. Slightly higher hopes are seen as 16% foresee a 40% to 49% reduction in fraud.
• The Middle East presents a more varied perspective. Only 18% anticipate a 20% to 29% reduction, indicating a conservative outlook. Conversely, a significant 35% expect a 30% to 39% reduction in fraud, showcasing a higher level of confidence in the impact of digital IDs.

Surge in Identity Threats

The Forrester Consulting study highlights: “Digital IDs are set to transform how transactions and customer data are secured, addressing both current vulnerabilities and anticipating emerging threats. The implementation of digital ID is not merely an upgrade, it is a critical evolution that offers a strategic edge in the ongoing battle against fraud.”

It’s not news that organizations have to deal with a constant surge in identity threats. For instance, Regula’s global survey conducted in 2023 revealed that every fourth bank had experienced over 100 identity fraud incidents in the previous year. The median cost of the identity fraud the Banking sector had suffered was found to be over $310,000. With the rising number and growing sophistication of identity threats, this financial burden has also grown during the past years.

That survey also revealed that the most prevalent form of fraudulent activity experienced by organizations was the use of fake or modified physical documents. Still, the most alarming threat was the rise of AI-generated identity fraud like deepfakes, with 37% of organizations experiencing deepfake voice fraud and 29% falling victim to deepfake videos.

“The results of the Forrester Consulting study prove that there is a strong belief in the effectiveness of digital IDs in enhancing security measures. That is true to a certain extent. For example, by verifying the authenticity of issuing certificates and digital signatures, it is rather reliable to prove the authenticity of a digital ID. But no form of ID, physical or digital, can ensure that you are dealing with a genuine person or even a person at all. Sophisticated identity fraud, including deepfakes and other AI-generated threats, is evolving rapidly, and to address this challenge, we need continuous advancements in fraud detection technologies and adaptive security measures,” says Ihar Kliashchou, Chief Technology Officer at Regula.

If you are interested in getting more insights from the study, “The New Imperative: Digital IDs,” please download a complimentary copy from the Regula website.

Additional resources:

• 42% of companies globally are ready to implement Digital ID
• Digital IDs are not going to replace physical documents
• EU Digital Identity Wallet: Exploring Its Current Potential

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The US economy is facing a significant surge in online fraud, with nearly 90% of business leaders reporting it costs them up to 9% of their annual revenue. This is a key finding from the Veriff Fraud Industry Pulse Survey 2024, which surveyed hundreds of senior decision-makers and fraud leaders across various sectors in the US.

The survey highlights that almost 87% of respondents experienced an increase in online fraud over the past year, and nearly 90% suffered revenue losses between 1% and 9% a year. For a company with an annual revenue of $100 million, this could mean a loss of up to $9 million. 

“AI is a growing threat as it has been weaponized by fraudsters, but it is also an opportunity to fight against fraud,” said Ira Bondar, Senior Fraud Group Manager at Veriff. “About 78% of decision-makers noted an increase in AI-driven fraud, while 79% are using AI and ML to enhance their fraud prevention efforts, from identifying fraud patterns to automating the customer identity verification process for more robust checks.”

According to the survey, US businesses are actively improving their defenses, with nearly 96% planning to increase the use of Identity Verification (IDV) and biometrics in the coming year. 

Consumer awareness is also increasing, with over 86% of US fraud decision-makers reporting higher demands for robust fraud prevention measures. Supporting this trend, the Veriff Fraud Index 2024 found that 75% of consumers consider a company’s fraud prevention record before using its services.

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Thales, the leading global technology and security provider, today announced Passwordless 360°, a new concept for passwordless authentication which offers Thales customers the broadest coverage of passwordless function across multiple types of users and assurance levels. Passwordless 360° has the flexibility to let companies use the latest technologies like FIDO passkeys, while also making the most of previous investments they might have made in passwordless technologies.

End users are increasingly frustrated with the number of passwords they’re asked to use, as well as the rules in place around their complexity. With the average person having as many as 100 to manage, users seek workarounds to get by – choosing passwords that are easier to remember or reusing the same password across multiple services.

Passwordless 360° provides a complete set of tools that let organizations use passwordless authentication across a wide range of applications – from secure access to personal and work devices, to legacy and modern web resources. This helps keep the costs of making the move to passwordless down by being able to use one system – as well as increasing the likelihood that employees, customers and suppliers will use it. By removing the need to use traditional passwords it also eliminates the associated security risks through theft and phishing. Passwordless 360° can also meet the individual risk management requirements an organization might have, adhering to NIST requirements no matter where the passkeys are stored.

Sitting alongside the existing Thales OneWelcome Identity Platform that serves as the foundation for passwordless policies, the Passwordless 360° concept includes:

• Support for passkeys in the OneWelcome Identity Platform
• Passwordless Windows Logon, a true passwordless user experience that replaces passwords with ways for users to identify themselves, offering convenience and security benefits.
• SafeNet FIDO Key Manager, a way of helping users manage the several FIDO keys they might be using themselves, reducing administration costs for organizations.
• FIDO Authenticator Lifecycle Management, developed in partnership with identity management software company Versasec. This tool lets organizations manage FIDO tokens and lets larger enterprises make the move to the modern FIDO standard at the scale needed.

The announcement comes as Thales has been named an Overall, Product, Innovation and Market Leader in KuppingerCole’s latest Leadership Compass on Passwordless Authentication for Consumers, with the platform praised for offering a versatile set of identity applications encompassing a wide range of authentication methods to meet organizations’ needs.

Alejandro Leal, Research Analyst at KuppingerCole commented: “Overall, Thales offers a comprehensive solution that enables organizations to improve their identity management practices, adapt to evolving technologies, and effectively secure their systems and data. Organizations in highly regulated industries and security-conscious organizations in both the public and private sectors that require strong authentication options should consider the OneWelcome Identity Platform.”

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Proof, the market leader for remote online notarization and identity-secured transactions and Socure, the leading provider of artificial intelligence for digital identity verification, sanctions screening, and fraud prevention, today announced a new partnership. The two companies will help businesses combat fraud in the agreements and forms that consumers rely on, which is a $200 trillion market opportunity.

According to FINCEN’s most recent report from 2021, false records and forgery cause more than $45B in fraudulent activity every year, a risk even greater than the $18B associated with money laundering and other identity related risks.

Industries are fighting an ever-increasing risk of fraud across their entire customer lifecycle. Businesses are susceptible to fraud from the moment an account is opened, to every form, authorization, loan, and transfer that customers perform. These interactions occur through documents that are approved, signed and notarized. Companies are exposed to the growing risks of fraud, impersonation, and forgery caused by artificial intelligence (AI) and the skyrocketing use of deepfakes, synthetic identities, and falsified records.

Proof’s Defend leverages more than 100 behavioral and data signals to combat fraud in the execution of its customers’ critical agreements. With the addition of Socure, Proof brings its market leading anti-fraud and identity verification capabilities to the real estate, mortgage, auto, retirement, banking, legal services, and countless other industries.

Socure’s Sigma Fraud suite breaks new ground in moving beyond the view of identity as a single snapshot in time. Instead, the platform assesses a consumer’s historic behavioral patterns across institutions, geographies, and timeframes to spot anomalies that indicate risk of theft or tampering at the identity level. The Sigma Fraud suite is further powered by a decade of powerful, rich consortium data from the Socure Risk Insights Network. This network draws from nearly 2,400 customers including the nation’s largest banks and fintechs, gaming services, payment platforms, and payroll providers.

“With the explosion of new fraud vectors, our mission at Socure remains steadfast: use AI to deliver the most accurate anti-fraud and identity verification solutions in the industry,” said Johnny Ayers, founder and CEO of Socure. “Partnering with Proof allows us to uniquely ensure identity-assured transactions for contracts, authorizations, forms, and high-risk financial events across various sectors. Our strategic visions are perfectly aligned, and together, we’re poised to redefine the standards of what’s possible.”

Proof and Socure’s combined proprietary identity and fraud capabilities will combat every single dimension of a potential attack. This technology makes it prohibitively expensive, time-consuming, and ultimately impossible for the fraudsters to evade detection – all in less than 2 seconds and with no impact to the end user experience. This multi-layered defense approach analyzes 30,000 signals in real-time, across a signer’s PII and their documents. Businesses gain a broader view of the identity risk because the platform analyzes PII, barcode data, device and behavioral intelligence, geolocation, and biometric signals. Proof’s Defend product, bolstered by this partnership with Socure, ensures that increasingly complex fraudulent attacks cannot circumvent the system and leads to market-leading accuracy and automation.

“Fraud is an increasingly serious problem across all industries, and companies need multi-layered defenses to help prevent billions of dollars in losses,” said Pat Kinsel, CEO of Proof. “Adding Socure’s digital identity verification capabilities to Defend, our fraud detection and prevention product, allows customers to secure transactions at every stage, quickly and accurately. We can’t think of a better partner and are excited to introduce Socure to Defend clients.”

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LayerX, pioneer of the LayerX Browser Security platform, today announced $26 million in Series A funding led by Glilot+, the early-growth fund of Glilot Capital Partners, with participation from Dell Technologies Capital and other investors. Lior Litwak, Managing Partner at Glilot Capital and Head of Glilot+, and Yair Snir, Managing Partner at Dell Technologies Capital, will join the LayerX board. The new capital will be used for corporate growth across talent and increasing global market presence. This round brings the company’s total investment to $34 million.

Today’s modern enterprise employees rely heavily on browser-based services and SaaS applications. Yet, these fundamental work activities expose organizations to a wide range of security risks, like data leaks, identity and password theft, malicious browser extensions, phishing sites and more. LayerX was purpose-built to secure and govern browser-based work, from both managed and unmanaged devices.

“We’ve transformed workforce protection for organizations without requiring the transition to a dedicated secure browser. Unlike other solutions, installed in a matter of minutes, the LayerX Browser Extension does not impact employee efficiency, speed, privacy or the browsing experience,” said Or Eshed, co-founder and CEO, LayerX.

“As the browser becomes more central to the employee, we anticipate it becomes more attractive to the attacker, particularly in the wake of GenAI tools used in browser-related activities,” he continues. “Today’s funding round is a testament to our increasing market opportunity and the innovation behind our platform’s user-friendly approach to a more secure browser experience.”

LayerX’s Enterprise Browser Extension is compatible with all commonly used browsers, including Chrome, Firefox, Edge and others, without requiring agents, a VPN or network modifications. Once deployed, the information security or IT team gains visibility into user activities and can block or restrict any threat in real-time, without impacting the user experience.

LayerX protects against all threats, whether they were inadvertently or maliciously caused by the employee, or whether they were originated by the attacker. The solution includes an AI engine that granularly monitors the code run by the browser and automatically generates a variety of insights related to user behavior in the browser.

“Since inception, LayerX showed super fast growth and adoption by the world’s leading enterprises. The company is at the forefront of defense for modern organizations. By protecting the browser, the central productivity application in organizations, from a wide range of new-generation security risks, LayerX can solve acute security problems that have remained unanswered until now,” said Kobi Samboursky, Founding and Managing Partner at Glilot Capital “We believe that this novel solution for securing browsers will replace most SASE and SSE solutions prevalent today in organizations. At an estimated market size of $7 billion, the potential inherent in LayerX’s technology is tremendous.”

“Similar to other successful entrepreneurs in the cybersecurity field we’ve collaborated with, Or and David bring significant experience and knowledge in understanding the technical issues involved in threats to organizations and the motivations of attackers. Consequently, they recognize that effective security measures should adapt to real-world user behaviors, rather than the other way around,” said Yair Snir, Managing Director at Dell Technologies Capital. “In a world where most computer operations are conducted through browsers, LayerX introduces a creative approach to corporate security that is user-friendly, robust, and easily implementable in large organizations. This approach transforms the browser from a major vulnerability to a strength, facilitating secure work across devices. Our investment in LayerX isn’t just driven by the promising opportunity but also by the potential impact of the company’s solution on organizations, regardless of where employees conduct their tasks.”

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