Photo: Flash90

Israeli Cyber Defense hits record $8.8b raised

The Israeli cyber security industry continued its growth trend over the past year – setting new records in every aspect.

By Erin Viner

This, according to a statement obtained by TV7 from the Israel National Cyber Directorate (INCD).

“The Israeli cyber industry wrapped up another record shattering year in which it showed that it was not only an economic growth engine in Israel of the highest order, but also a pillar of the global cyber security innovation ecosystem,” said INCD Economy and Growth Director Roi Yarom.

Data gathered and processed by the INCD reveals that “in comparison to 2020, the amount of funds raised by the Israeli cyber security industry tripled and reached the record amount of approximately $8.8 billion ” (€ 7.76 billion) in more than “100 different deals.”

The increase reflects “triple the amount from the previous year,” said the statement.

In addition, 4 Israeli cyber security IPOs were established in 2021.

There were also 11 notable Israeli entries into the prestigious so-called “Unicorn Club” of firms valued at $1 billion (nearly € 880 million) and over. In fact, INCD data shows that an astounding 1 out of every 3 ‘cyber security unicorns’ in the world is an Israeli company.

Israel also achieved significant achievement in the investment sphere, with 40 acquisition deals of companies by local and foreign entities at an estimated worth of $3.5 billion (about € 3,080 million).

Moreover, said the INCD, “around 40% of the private global investment in cyber security funding rounds are in Israel.”

Overall cyber sales amounted to $11 billion (around € 9,702 million) in 2021, according to Israeli Export Institute data.