Silicom Ventures FUND LLC announced today that it has invested in Yoggie Security Systems, developer of a new network security solution which provides protection to mobile computers in a corporate or individual setting. The company was selected from hundreds of applicant companies that submitted their requests to Silicom Ventures Fund. The Fund, along with Silicom Ventures members, co-invested a total of $750K in the past two rounds. The company has completed its production line and has begun its sales campaign. The funding will be used for expanding the company’s distribution of marketing and sales channels in the US and Europe.
“We believe that security for mobile devices is an increasingly important and unsolved problem. Yoggie’s highly experienced management team and the elegant solution presented us with a compelling investment opportunity,” said Eli Sternheim, lead investor and director of Silicom Ventures FUND.
“Israel has the second largest concentration of high tech startups after Silicon Valley, and in particular, security related companies are extremely prominent,” said Gadi Behar, managing director of Silicom Ventures. “Investing in Israeli technology is always an attractive proposition to Silicom Ventures members, many of whom emigrated from Israel and have strong family and business ties to the country. In the past year, we also held an international summit which brought US and European investors to Israel, and we plan to continue building connections between the US and Israel.”