Tel Aviv-based cybersecurity startup Ironblocks has raised a $7 million seed round to build a blockchain-native cybersecurity platform.

The round is co-led by Collider Ventures and Disruptive AI. Other investors include ParaFi, Samsung Next and Quantstamp, as well as angel investors such as the former chief technology officer of Coinbase Balaji Srinivasan and Simplex co-founder Nimrod Lehavi, said a company release.

Ironblocks says it aims to help crypto companies and protocols mitigate these hacks and identify suspicious activity with an automated monitoring and detection system. The detection system is already live and the company will be introducing a prevention system in the coming months.

Ironblocks started fundraising at the start of 2022 and closed toward the end of the year. The company to use the funds for hiring and building out the product roadmap. The team is currently around 15 people, which he hopes to double this year.