The startup company Redefine, which specializes in blockchain security, reports that it has raised $ 11 million at a value of $ 50 million and as part of the fundraising reveals the firewall platform it has developed which is aimed at crypto transactions in the field of DeFi (distributed economy). The fundraiser brings the company’s total fundraising money to about $ 14 million.

The company says it operates in the center of the blockchain industry and mainly in the field of distributed finance and notes that the field is growing rapidly and its scope is currently estimated at $ 100 billion. The DeFi market poses a challenge to traditional financial systems, including a wide range of products, including digital currency loans, savings plans and even deposits, along with the alternative investments and transparency it offers.

Along with the challenges, the market is also creating security risks of the kind that have led to thefts of over $ 12 billion through cyber attacks in recent years. The platform presented by the company is a firewall intended first for the institutional investors operating in the industry. It performs risk analysis and monitors changes in the market in real time and according to the company reports even actively saves money in case of such attacks.

The company also says that the system places emphasis on automating due diligence and risk monitoring processes that have hitherto been carried out manually, and now allows investors to act and track the risks involved in their positions in a good way from the past. The company is collaborating with a number of companies in the field and has begun working more closely with several additional beta customers in order to better tailor the product for them and the wider market.

The new Redefine was founded in June 2021 by Dr. Shira Berzis (CEO) and Alon Ram (CTO). Alon holds a master’s degree in biomedical engineering from the Technion, and Shira holds a doctorate in law and economics from the University of Chicago. Both have many years of experience in cyber and a significant connection to the world of digital currencies, which they entered at an early stage.

The raising was made under the leadership of “Ribbit Capital” from


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, Starring Jump Capital and ParaFi Capital. The funds are venture capital funds that focus their investments in the fintech and blockchain industries, and have experience as early-stage investors in companies such as Coinbase, Robinhood and Chainalysis, it was reported. This funding comes in addition to a pre-seeded $ 3 million round raised in June last year. The funds raised will be used for expansion in Israel and New York, recruiting employees for research and development and strengthening the existing product.

Shira Berzis, CEO of Redefine: “Creating a safe environment for traders is important for the development of the DeFi field. The vision is to create a company that allows access to financial products, and without the need for mediation by third parties and this is another step towards democratizing the economy.”

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