Porticor Acquired By Intuit For Tens Of Millions

Porticor Acquired By Intuit For Tens Of Millions
February 8, 2015 Hagar

February 8, 2015

The American software company Intuit announced that it will acquire the Israeli cloud security company Porticor for tens of millions of dollars, according to reports. Porticor has reportedly raised $2 million in funding since the startup was founded in 2012 from Glilot Capital and the US fund Lazurus Partners, among other investors.

In an announcement, Intuit stated that it acquired Porticor in order to help organizations and the US government in particular combat tax evasion and scams on the Internet, which costs Americans nearly $5 billion in extra taxes each year. Porticor was founded by Ariel Dan, Yaron Sheffer and Gilad Parann-Nissany and is based out of Ramat Sharon, Israel.