For Immediate Release

Skybox Security Raises $6 Million in B Round

Round Led By Lightspeed Venture Partners And Was Joined By Existing Investors Benchmark Capital, Carmel Ventures and Mofet Technology Fund.

May 5, 2003 - Skybox Security Inc., a technology leader of corporate IT security risk assessment software, today announced it has secured $6 million in second round equity financing led by Lightspeed Venture Partners, with participation by current investors Benchmark Capital, Carmel Ventures, and Mofet Technology Fund.

The funds will be used to build a strong sales and marketing infrastructure for the company’s products. The company is currently recruiting sales and marketing executives in the U.S., as well as other senior customer facing professionals. In addition, Ravi Mhatre, General Partner, Lightspeed Venture Partners, will join Skybox Security’s board of directors.

"We are pleased with the opportunity to invest in Skybox Security. Skybox Security is developing exciting products based on innovative technology that will enable corporations to continuously assess and analyze security risks in their IT infrastructures," said Mr. Mhatre.

"Skybox Security's products address critical security considerations for IT managers today: new vulnerabilities and threats are being discovered on a daily basis. Skybox Security's unique offerings help enterprises close the gap between the pace of those new risks and their ability to quickly mitigate potential damages," said Mr. Gidi Cohen, Skybox Security's CEO.

Skybox Security was founded by security experts Gidi Cohen - former CEO & co-founder of Vigil Technologies, Moshe Meiseles - former Senior VP Development of Memco (acquired by Computer Associates), and Eran Reshef - founder of Sanctum.

About Lightspeed Venture Partners
Lightspeed Venture Partners combines extensive venture capital and operating experience to assist entrepreneurs in creating industry-leading technology companies. Lightspeed manages $2.3 billion in funds and focuses on early stage investments in the software and communications sectors. Among its companies are AirGate PCS, Brocade Communications Systems, Federal Express, Galileo Technology, Genesys Telecommunications Laboratories, Informatica, Quantum Effect Devices, Sirocco Systems and Vantive.

About Benchmark Capital
Benchmark Capital takes a labour-intensive, team-oriented approach to venture investing in order to deliver a superior level of service to its portfolio companies. Benchmark's portfolio includes franchise companies such as Ariba (Nasdaq: ARBA), eBay (Nasdaq: EBAY), Handspring (Nasdaq: HAND), Juniper Networks (Nasdaq: JNPR) and Red Hat (Nasdaq: RHAT). Managing more than $2 billion in committed venture capital, Benchmark focuses on early-stage investing in markets where the partners have direct, relevant experience.

About Carmel Ventures
Carmel Ventures is Israel's largest venture capital fund specializing in software investments. With $170 million under management, Carmel invests in Israel, Europe and the US. The fund’s partners have extensive experience in entrepreneurship, management and investing in global software companies.

About Mofet Technology Fund
Mofet is a publicly traded venture capital fund, listed on the Tel Aviv Stock Exchange. The fund focuses on early stage investments in cutting-edge technologies in several sectors: enterprise s/w, security, knowledge management and telecom. Mofet funded 43 start ups over the past 8 years, successfully yielding 18 exits to date. Portfolio includes Breezecom/Alvarion, Enigma, Identify, Mainsoft, Mercado, Morecom (Liberate), NetformX, Netro, Orckit, Precise, Sanctum, Smartlink, Vcon, Virtio, Vocaltec and many other promising ventures.