Google is in the process of acquiring Israeli cybersecurity startup Siemplify. The internet giant will pay $500 million, according to Calcalist.
This is Google’s fourth acquisition of an Israeli startup in five years. In 2016 Google paid $1.1 billion for Waze. In 2019 Google Cloud purchased Elastifile which develops data fabric storage technology for enterprise-grade applications running at scale in the cloud for $200 million. The same year Google parent company Alphabet Inc. has acquired data migration startup Alooma for $100 million. In addition, in 2021 the company invested $50 million in another Israeli cybersecurity startup, Cybereason.
Siemplify was founded in 2015 by CEO Amos Stern who served in the IDF’s Intelligence Corps as the commander of a cyber unit before joining Elbit Systems, where he met his co-founders CTO Alon Cohen and COO Garry Fatakhov.
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Siemplify’s Security Operations Platform is intended to serve as the SOC’s “operating system” (security operations center). Unlike existing SOAR (security orchestration, automation, and response) platforms, which are primarily focused on playbook creation and automation, Siemplify was built from the ground up to manage the complete security operations function. The platform will be linked into Google’s cloud computing infrastructure.
Siemplify’s dynamic modeling method to field alerts significantly reduces the number of cases that a SOC team must handle, while also providing critical context that would be overlooked otherwise. Analysts can prioritize potentially overlooked risks, allowing them to evaluate alerts received from several security sensors yet pertaining to the same threat as a whole.
In August 2021, Google CEO Sundar Pichai pledged to US Vice President Joe Biden that the company will invest $10 billion in cybersecurity over the following five years. following this obligation, Google intends to expand zero-trust programs, assist in the security of the software supply chain, and strengthen open-source security.
This commitment will include acquisitions and investments, with Siemplify serving as Google’s first such acquisition. Google also vowed to train 100,000 Americans in high-demand industries such as IT Support and Data Analytics, including data privacy and security.
Siemplify has raised $58 million in four rounds, with Israeli venture capital firm G20 Ventures serving as the company’s main investor. 83North, Jump Capital, and Georgian are further investors, the latter of which recently invested in Israeli cybersecurity firm Noname Security.
The company employs 200 workers in Israel, the United States, and the United Kingdom, all of whom will join Google as part of the acquisition.
Google will employ Siemplify to establish a foundation for its cybersecurity operations in Israel, which will be integrated into the company’s cloud business. Co-founders of Siemplify will remain with the company.