Cybersecurity firm Lema has emerged from stealth with $24 million Series A funding as it aims to modernise its approach to third-party security. The investment was led by Team8, a Tel Aviv-based venture capital firm. The company did not disclosed what its valuation was.
Lema, launched in 2023 by Eddie Dovzhik, Omer Yehudai and Tomer Roizman — all alumni of Israel’s elite Unit 8200 — was founded to help tackle a big problem in enterprise cybersecurity: the rising risk of external vendors. As companies make increasing use of third-party services, such as cloud platforms, SaaS tools and AI providers, their security posture is expanding.
Sixty percent of companies today work with more than 1,000 third parties, according to Gartner, and there are a variety of estimates on how many of the most recent batches of cyberattacks actually stem from these organizations.
Third-party risk management has gone relatively unfocused for a long time, despite posing significant threats, Dovzhik said. He pointed to incidents like the 2023 compromise of Coinbase, which exposed almost 70,000 users, and a CrowdStrike disruption in 2024 that knocked banks, airlines and hospitals offline — all triggered by problems with third parties.
Lema’s tech-driven platform obtains in itself a new approach for addressing these risks. Rather than relying on old spreadsheets and checklists, the company has created an AI system that can function like a vulnerability expert. This will better enable firms to spot vulnerabilities in their vendor ecosystem.
The new funds will be used by the company to expand its product offerings and acquire more global enterprises. With cybersecurity threats on the rise and greater reliance on third-party tech providers, Lema hopes to arm companies with what they need to stay secure.
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