January 3, 2018 / 1:31 PM / a year ago

Network security firm AlgoSec raises $36 million from Claridge Israel

JERUSALEM (Reuters) - Network security firm AlgoSec said on Wednesday it raised $36 million from investment firm Claridge Israel to help it expand globally.

AlgoSec, which is headquartered in the United States with its research and development in Israel, says its system automates and orchestrates network security policy management, and that it has 1,500 enterprise customers globally.

This is the first external investment in AlgoSec.

Claridge Israel is a partnership between CDPQ, one of the largest institutional investors in Canada, and the Bronfman family’s investment firm Claridge Inc of Canada.

Reporting by Ari Rabinovitch; Editing by Tova Cohen

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