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The tech unicorn fever in Israel is showing no signs of subsiding. Three more local cyber companies Wiz, Orca Security, and Axonius are planning to announce in the coming weeks that they have completed large funding rounds at valuations topping $1 billion each.
All three companies raised more than $50 million in 2020 and are taking advantage of the readily available capital to secure additional rounds, while upping their valuations, shortly after their previous ones.
Assaf Rapaport. Photo: Nathaniel Tobias
Wiz is the youngest of the three, having only been founded in 2020 and having just recently completed its series A funding round. According to market estimates, Wiz’s upcoming round will raise over $100 million and catapult the company’s valuation to well over a billion dollars. Wiz completed its first capital raise only in December, in which it secured $100 million from a series of leading investors, including VC funds Index Ventures, Sequoia, Insight Part
A mere nine months after it was founded, Cloud security company Wiz, headed by former General Manager of R&D at Microsoft Israel Assaf Rapaport, has raised a $100 million series A funding round. Venture capital funds Index Ventures, Sequoia, Insight Partners, and Cyberstarts all participated in the round. All the investors, aside from Insight, also invested in Adollam, Rapaport’s previous company, which was sold to Microsoft in 2015 for $320 million. Among the prominent private investors who participated in the round are Yevgeny Dibrov and Nadir Izrael, the co-founders of Armis Security, Which was sold to Insight in a $1.1 billion deal.