Google has acquired little-known Israel-based cybersecurity firm Siemplify, and plans to roll the company into its cloud services division.
The unconfirmed price of the acquisition is reportedly $500 million.
When the three co-founders created the company, security orchestration, automation and response (SOAR) as a category in cybersecurity did not yet exist, wrote Siemplify co-founder and CEO Amos Stern in a blog post.
“As is often the case with startups, we had to keep innovating, working with customers and listening to the market in order to build a security operations platform that truly improves the way security teams respond to cyberthreats,” Stern wrote.
Siemplify developed a platform for managing cybersecurity systems. It helps cybersecurity teams to respond more rapidly in real-time to threats by creating automatic processes that combine all the tools.
“Providing a proven SOAR capability unified with Chronicle’s innovative approach to security analytics is an important step forward in our vision,” wrote Sunil Pottivice, president and general manager of Google Cloud Security. “Building an intuitive, efficient security operations workflow around planet-scale security telemetry will further realize Google Cloud’s vision of a modern threat management stack that empowers customers to go beyond typical security event and information management (SIEM) and extended detection and response (XDR) tooling.”
Stern, along with CTO Alon Cohen and COO Garry Fatakhov, founded Siemplify in 2015. Since then, the company has raised $58 million from investors Georgian Partners, 83North, and G20 Ventures, as well as others.
The most recent funding round was $30 million in 2019. The company supports brands, with about 200 employees in the United States, the United Kingdom, and Israel.
Pottivice explains in the post that Google plans to invest in SOAR capabilities with Siemplify’s cloud services as the foundation. The intention is to integrate Siemplify’s capabilities into Chronicle in ways that help enterprises modernize and automate their security operations.