The United States Department of Homeland Security has awarded a grant to Israeli cyber-security startup Morphisec to develop cyber-security defense solutions for virtual desktop systems, according to an announcement on Wednesday.
Morphisec will become the first international business to receive a grant from the DHS Science and Technology Directorate’s Financial Services Cyber Security Active Defense Technologies category.
The global virtual infrastructure software market is expected to almost triple by 2023 to $15.3 billion.
Morphisec was founded just four years ago, starting out at JVP’s Cyber Lab incubator in Beersheva, and has since raised more than $20 million in funding, including from venture-capital firms JVP, OurCrowd, GE Ventures and Deutsche Telekom.
According to a report by Start-Up Nation Central, Israel comes second only the United States in the amount of investments made in the cyber-security industry in 2017.
Israel received 16 percent of the world market, totaling $815 million.