Israeli cybersecurity company white Today it announced that it is acquiring an Israeli company Security traila startup in a similar field of database protection. Both are subsidiaries of Jelly Ranan’s Cyberstarts. Trail Security, which operated outside the media spotlight, was founded by graduates of the IDF Intelligence Unit’s Talpiot program.
Cyera said it will pay $162 million in cash and stock for Trail Security. Cyera was founded three years ago and has raised nearly $500 million to date. The company’s valuation in its latest funding round, which was completed earlier this year, was $1.4 billion.
40 Trail Security employees, including 30 engineers, will join Cyera, which estimates its development department will grow to 500 employees within three years.
Particularly quick exit for Trail Security
This is a particularly quick exit for Trail Security shareholders. The company was founded only in the middle of last year and has been operating underground. The founders are CEO Zohar Wittenberg, Nadav Zingerman and Roy Motai. Trail Security has raised $35 million from Cyberstarts, Lightspeed Venture Partners, and Charles River Ventures (CRV). However, most of the payments are made in Cyera shares.
Cyera, founded by Yotam Segev and Tamar Bar-Ilan, is Israel’s leading database protection company for large enterprises in the field of data security posture management (DSPM).
“The acquisition of Trail is a pivotal step in Cyera’s journey to reshape the future of data security,” said Yotam Segev, co-founder and CEO of Cyera. “Cyera is determined to advance the siled data security space and enable organizations to overcome the growing data security challenges around AI and the cloud. Huge forward in making this a reality for our customers, disrupting the entire data security space Pairing DSPM with DLP gives every customer a critical opportunity to build successful data security.
Trail Security co-founder and CEO Zohar Wittenberg added, “Joining Cyera represents an exciting new chapter for Trail. We’ve always aimed to push the boundaries of data loss prevention with AI. And in Cyera, we’ve found a partner who shares our vision. Together, by bringing Between our DLP technology and their leading DSPM platform, we deliver a solution that identifies and protects data risks in real-time, setting a new standard for data security in an AI-driven world.
Published by Globes, Israel Business News – en.globes.co.il – on October 17, 2024.
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