"Venture investors are pouring money into Israeli cybersecurity startups. The latest is Vega, a company coming out of stealth mode that has landed $65 million in funding to take on some of the biggest incumbents in security. The funding round, led by Accel with participation from Cyberstarts, Redpoint, and CRV, values Vega at $400 million."
"The funding comes as Google is trying to close its $32 billion acquisition of Wiz, another Israeli-founded security firm, in what could be one of the largest cybersecurity deals ever. Vega's cofounder and CEO, Shay Sandler, knows the comparison is inevitable. "It's quite humbling to say that it's similar," he said. "We were bold enough to chase a very big problem without being too apologetic about it.""
"Like the Wiz founders, Sandler and his cofounder Eli Rozen are alumni of Unit 8200, the Israeli elite intelligence unit that has produced some of the country's most successful tech entrepreneurs. Vega already has 63 employees spread across Israel and the U.S., including offices in San Francisco, Miami, and New York, where Sandler recently relocated. The company says it has already signed Fortune 20 companies, major banks, and a global top-10 healthcare organization."
Vega emerged from stealth with $65 million in funding led by Accel and participation from Cyberstarts, Redpoint, and CRV, valuing the company at $400 million. The company targets incumbent security vendors such as Splunk and Palo Alto Networks' QRadar, offering faster, cheaper alternatives. Founders Shay Sandler and Eli Rozen are Unit 8200 alumni. Vega employs 63 people across Israel and the U.S., with offices in San Francisco, Miami, and New York. Vega reports signed customers including Fortune 20 companies, major banks, and a global top-10 healthcare organization. Israeli cybersecurity funding surged, approaching 40% of U.S. levels.
Read at Business Insider
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