Israeli cybersecurity company CYE raises $ 120 million

Israeli cybersecurity improvement solutions company CYE announced today that it has raised $ 120 million in a funding round led by EQT, with the participation of current investor 83 North. The company declined to disclose how much it has raised so far. The company was founded in 2012 by CEO Reuven Aronashvili. He told Globes, “Since the last round of financing in 2018, the company has grown from 40 employees to 70 employees and we hope to have more than 100 employees by the end of the year, most of them R&D personnel and cybersecurity experts.” Arunashvili added that the last round of funding was With a valuation of less than $ 1 billion, but he says that within 12 months the company will reach the $ 1 billion valuation The company is headquartered in Israel and has sales offices in the US and Europe Hyver product uses advanced algorithms and graphical modeling to conduct a comprehensive cybersecurity assessment, covering the enterprise Highly experienced Red Teams then execute real, non-simulated attacks, allowing CYE to accurately predict potential attack routes, giving clients the ability to prevent such attacks before they happen, as well as knowing where to invest Resources. ”Aronashvili said,“ At CYE, we are building a company that fundamentally changes the way organizations deal with cybersecurity, enabling them to accurately assess the most pressing threats to their business. As we continue to build on this foundation, we are excited to welcome EQT as our new partner and we are extremely excited to begin the next phase of CYE expansion and innovation, ”said Reuven Aronashvili, Founder and CEO of CYE. Almost 200 of CYE’s clients include Novartis and Philips, UBS, Nokia. EQT was represented in the transaction by lawyer Tomer Farkash of Herzog law firm, and CYE was represented by attorney Liron Hacohen of Yigal Arnon published by Globes, Israeli Business News – en.globes.co.il – on February 10, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021