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StartUps

Israel High Tech Scene Week In Review July 18 – 24

Tel Aviv at sunset, Israel

New Startups / VC Funding
Uveye Almost Becomes A Unicorn With $60 Million Raise
Israeli automated vehicle startup Uveye came just a hair short of becoming Israel’s latest unicorn, with a billion dollar plus valuation. The new valuation of Uveye came with a new infusion of capital from a $60 million Series C $60 million round of investment led by CarMax.

Israeli Startup Tailor Brands Brings In $50 Million From GoDaddy
Tailor Brands is an Israeli startup that offers businesses an online platform to improve their brand design. Tailor Brands raised $50 million in a Series C funding led by GoDaddy.

Israeli Startup YOOBIC Raises $50 Million
YOOBIC is an Israeli startup that offers an all-in-one digital workplace for frontline teams. YOOBIC has closed a $50 million Series C funding round led by Highland Europe. This brings YOOBIC’s total fundraising to $80 million to date.

Israeli Travel Startup Bookaway Rakes In $35 Million
Bookaway is an Israeli startup that offers travelers a platform for road travel booking. Bookaway secured $35 million in Series B funding, backed by global investors Aleph, Corner Ventures, Entrée Capital, and a group of angels led by Elad Kushnir.

MedTech Startup Sweetch Raises $20 Million
Sweetch is an Israeli medtech startup which offers a hyper-personalized engagement platform for chronic conditions. The company has raised $20 million in a Series A round of funding led by Entrée Capital.

Israeli B2B Startup Oktopost Brings In $20 Million
Oktopost is an Israeli startup based in Ramat Gan which offers a cloud platform for B2B social media marketing, employee advocacy, and revenue attribution. Oktopost has raised $20 million minority investment from London-based growth equity firm Expedition Growth Capital. Prior to this new investment, Oktopost had raised about $800,000 million in funding.

IPOs and Unicorns
Kaltura Holds $1.34 Billion NASDAQ IPO
Kaltura, an Israeli startup which provides live and on-demand video SaaS solutions, has finally held its NASDAQ IPO on Wednesday, coming away with a valuation of $1.24 billion. The company raised $150 million from the IPO. Kaltura offered 15,000,000 shares of its common stock at a price to the public of $10 per share under the symbol “KLTR.”

Riskified Looks To $3 Billion NYSE IPO
Israeli startup Riskified (think risky field), which offers e commerce fraud prevention services, is headed for its big exit. Riskified has revealed its full IPO plan. The company expects to raise at least $315 million from its NYSE IPO and to come away with a valuation of at least $3 billion. It will be listed on the New York Stock Exchange under the ticker symbol “RSKD.”

Mergers and Acquisitions
Cybereason Buys Israeli Security Analytics Company Empow
Cybereason is an Israeli cybersecurity unicorn which provides protection against cyberattacks to both governments and businesses alike. Cybereason (Cyber + Reason) has just bought out fellow Israeli firm empow, a security analytics company based in Tel Aviv. The purchase price was not disclosed.

Sysdig To Acquire Israel’s Apolicy For Infrastructure As Code Security
Sysdig, Inc., a leader in secure DevOps, is acquiring Israeli firm Apolicy. Sysdig says that it is making this acquisition to shift security further left and expand the Sysdig offering to include Infrastructure as code (IaC) security. The purchase price was not disclosed.

Azrieli Group Acquires Norway’s Green Mountain For $850 Million
Smedvig, the majority owner of Green Mountain, has agreed to sell the company to Azrieli Group Ltd., an Israeli publicly traded real estate investment and development company on the Tel Aviv Stock Exchange. The sale price was reportedly $850 million.

SQLink Group Buys Israeli Company ZIGIT
Israel’s SQLink Group has acquired fellow Israeli firm Zigit for NIS 8 million — about $2.4 million. Founded in 2010, ZIGIT specializes in the design, development and management of large applications for both the web and mobile devices. ZiGit’s 30 employees are now expected to move to SQLink Group’s offices in Ramat Gan.

Israeli Live Broadcast Company LiveU To Be Sold For $400 Million
LiveU is an Israel-based live broadcasting company. Calcalist is reporting that LiveU is about to be acquired by Carlyle Group for $400 million. If the deal goes through, this will mark the second time in two years that the company was sold. Not only that, but it means that LiveU doubled its value in that time as in 2019 LiveU sold for $200 million to the investment fund Francisco Partners and IGP Capital.

Other Business Stories
Mobileye Testing Autonomous Vehicles In New York City
Israel’s Mobileye, which is now owned by Intel, develops all manner of new driving tech. It started with video cameras and alarm systems built into cars to warn drivers that they may be getting too close to something in order to avoid a crash. Now Mobileye is in on the self-driving car business and has begun trial runs of these cars in the world’s busiest and fastest city – New York.

TailorMed Teams With AllianceRx Walgreens Prime To Cut Med Costs
Israeli medtech startup TailorMed is a financial navigation technology fintech company that helps patients and healthcare providers remove financial barriers to care. TailorMed is now working with AllianceRx Walgreens Prime to help reduce patient out-of-pocket costs.

NSO Group Strikes Back
Israel Cybersecurity firm NSO Group which develops ways to break through encryptions and security systems was accused by Amnesty International and Microsoft of helping governments hack the telephones of journalists. Specifically, NSO Group’s Pegasus Spyware software is said to be used by nefarious regimes to hack into the cell phones and computers of journalists and political opponents alike. Well now Shalev Hulio, the CEO of NSO Group, is speaking out.

Huge Fallout In Israel Over Ben & Jerry’s
Ben & Jerry’s is in big trouble over its decision to join in on the boycotting of Israel. The company revealed its decision to do so yesterday, Monday. Politicians and journalists alike in Israel are up in arms over it. From the news anchors, to the pundits, to the person on the street, Israelis seem to be in agreement in their outrage over the move.

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