As we come to the end of the year 5781, Jewish Business News has compiled this list of some of the biggest unicorns to come out of Israel in the past year.
Israel’s Wiz Cloud Security Is Now A Unicorn With $1 Billion Valuation
This past spring, the startup Wiz, which offers cloud computing services, become a unicorn with an additional $129 million in investment. The company would hit a $1.7 billion valuation.
Wiz states that it delivers the first cloud visibility solution for enterprise security, offering a “360° view of security risks across clouds, containers and workloads. No agents. No sidecars.”
Wiz was founded just one year ago by Assaf Rapaport, former manager of R&D at Microsoft Israel which built the security stack in Azure, Ami Luttwak Yinon Costica, and Roy Reznik. Rapaport and his team in Israel founded Adollam, which was sold to Microsoft in 2015 for $320 million.
Yotpo The Unicorn – E Commerce Startup Now Worth $1.4 Billion
Israeli ecommerce firm Yotpo became a unicorn in March. The company became worth $1.4 billion after completing a $230 million Series F financing round led by Bessemer Venture Partners and Tiger Global.
Founded in 2011 by Omri Cohen and Tomer Tagrin, Yotpo provides a platform with authentic rather than fake reviews of products by consumers. It also helps retail brands accelerate online revenue growth.
Aqua Security Is Israel’s Latest Unicorn
Israeli startup Aqua Security hit a $1 billion valuation in March. The company reached this milestone with a $135 million Series E funding round led by ION Crossover Partners.
Founded in 2015 by Amir Jerbi and Dror Davidoff, Aqua Security boasts that it is the largest “pure-play” cloud native security company, providing customers the freedom to innovate and run their businesses with minimal friction. Its Aqua Cloud Native Security Platform provides prevention, detection, and response automation across the entire application lifecycle to secure the build, secure cloud infrastructure and secure running workloads wherever they are deployed.
Israel’s Application Security Startup Snyk Now Worth $4.7 Billion
Snyk, a startup in the field of cloud native application security, reached a valuation of $4.7 billion in March, making it possibly the biggest unicorn in Israel’s history, if not the world. The company achieved the valuation with $300 million in new funding from a Series E financing round. The company has now raised a total of $470 million to date and has quadrupled its value since the beginning of 2020.
Snyk provides cloud native application security (CNAS) solutions which enable modern applications to be built securely, empowering developers to own and build security for the whole application, from code and open source to containers and cloud infrastructure.
Israel’s Axonius Is Now A Unicorn With $1 Billion Plus Valuation
Axonius, an Israeli cybersecurity startup $1 billion. The company declared this to be the case in March when it added another $100 million in new investment. This latest round follows a 2020 investment of $58 million, increasing total funding to $195 million leaving the startup with unicorn status.
Papaya Global Another Israeli Startup To Hit Unicorn Status
Israeli startup Papaya Global which offers a cloud based platform for companies to handle their payrolls, reached a billion dollar plus valuation in March. The company achieved the coveted unicorn status with the close of a $100 million Series C funding round, led by GreenOaks Capital Partners.
Papaya Global boasts a 300% revenue growth year-over-year for each of the last 3 years. The company says that its reaching unicorn level reflects strong demand for Papaya’s offering in global workforce management. Papaya provides what it calls a radically simple solution for managing and paying all types of global workers in full compliance.
Israeli AI Startup Verbit Now A Unicorn Worth More Than $1 Billion
Verbit, an Israeli developer of an AI-powered transcription and captioning platform, hit the coveted unicorn status in June. Verbit broke the $1 billion valuation mark with a $157 million Series D round of funding.
Verbit combines both artificial and human intelligence to provide a smart transcription and captioning solution. Built on adaptive algorithms, the company boasts that this is the only technology that generates detailed speech-to-text files to provide over 99% accuracy, delivered at record-breaking speed. Smart AI technology supports on-demand CART services for real-time results.
Orca Security Latest Israeli Unicorn With $1.2 Billion Valuation
Israeli startup Orca Security became a unicorn in July. The cybersecurity company reached this milestone when it completed a $210 million Series C round of funding led by CapitalG, Alphabet’s independent growth fund, and Redpoint Ventures, which left it with a $1.2 billion valuation.
Founded in 2019, Orca Security offers the cloud security innovation. The company provides cloud-wide, workload-deep security and compliance for AWS, Azure, and GCP. Orca boasts that it treats a client’s cloud as an, “interconnected web of assets, prioritizing risk based on the severity of the underlying security issue combined with environmental context, including its accessibility and potential damage to the business.” This does away with thousands of meaningless security alerts to provide just the critical few that matter, along with their precise path to remediation.