Summary:
$1 billion raised by Wiz in 2024, marking the largest funding round in Israel's history.
Trax raised $640 million in 2021, focusing on AI for retail analytics.
Transmit Security achieved $543 million in Series A funding, the largest in cybersecurity history.
Rapyd secured $400 million in 2021 to enhance its fintech solutions.
Cyera raised $300 million in 2024, tripling its valuation to $3 billion.
The Rise of Israel's Tech Sector
Over the past two decades, Israel’s technology sector has emerged as a global powerhouse, breaking records and redefining industries. From cybersecurity to fintech, Israeli startups have consistently drawn the attention of top-tier investors worldwide. The ecosystem, often referred to as the "Startup Nation," has evolved into a "Scale-up Nation," with companies securing unprecedented funding to fuel their growth and innovation.
In 2024, Israeli tech funding reached new heights, with companies raising hundreds of millions in single rounds despite global economic challenges. Wiz’s astonishing $1 billion raise, the largest in the nation’s history, symbolizes this momentum. Major global players like SoftBank and BlackRock have been captivated by the world-class technologies and bold visions emanating from Israel.
Top 10 Funding Rounds in Israeli Tech
Below, we dive into the top 10 funding rounds in Israeli tech since the start of the 21st century, showcasing the innovation, ambition, and impact of these game-changing investments.
Wiz - $1 Billion (2024)
Cybersecurity giant Wiz raised a historic $1 billion in May 2024, pushing its valuation to $12 billion. Serving 45% of Fortune 100 companies, Wiz's growth is underscored by its $500 million in annual recurring revenue (ARR). Their acquisitions of Dazz for $450 million and Gem Security for $350 million highlight their aggressive expansion strategy.
Trax - $640 Million (2021)
In 2021, Trax, a pioneer in retail analytics, raised $640 million in a Series E round led by SoftBank Vision Fund 2, valuing the company at $2.25 billion. Founded in 2010, Trax uses AI to optimize shelf performance in retail.
Transmit Security - $543 Million (2022)
Transmit Security made waves in 2022 with a $543 million Series A round, the largest in cybersecurity history, valuing the company at $2.2 billion. Their focus on passwordless authentication solutions has positioned them for significant market growth.
Rapyd - $400 Million (2021)
In January 2021, Rapyd, a fintech startup, raised $400 million at a $2.5 billion valuation. This funding has enabled them to solidify their position in cross-border payment solutions.
Cyera - $300 Million (2024)
Cyera raised $300 million in two rounds within seven months in 2024, tripling its valuation to $3 billion. Founded by Unit 8200 alumni, Cyera meets the growing demand for advanced data security solutions.
Gett - $300 Million (2016)
Gett, a ride-hailing platform, raised $300 million from Volkswagen in 2016, although the investment was later written off. Despite raising $900 million, Gett was sold for just $175 million in 2024.
Next Insurance - $265 Million (2023)
Next Insurance, specializing in small-business insurance, secured $265 million from Allstate and Allianz X in 2023, bringing its total funding to $1.1 billion.
These funding rounds illustrate the dynamic landscape of Israel’s tech ecosystem, showcasing the innovation and entrepreneurial spirit that continues to thrive in the region.
Comments