Cyberstarts, an Israeli cybersecurity venture capital firm, announced on Wednesday that it has raised $60 million in seed funding to further invest in cybersecurity start-ups, bringing its total assets to $374 million.
Cyberstarts has funded 24 Israeli cybersecurity startups since it was founded by Gili Raanan in 2018. Raanan is also a partner of Sequoia Capital, which backs the company.
Its portfolio of companies has raised a total of $2 billion and has a combined valuation of $20 billion, as of 2021. Israel is known for security software innovation within its military, contributing to the $8.84 billion raised by Israeli cyber startups in 2021, triple that. of the previous year.
According to The Information, Raanan has often backed companies founded by veterans of an elite Israeli hacking unit.
This funding round follows a previous round in February that raised $200 million.
Cyberstarts’ investments in 2021 included cryptocurrency platform Fireblocks, cloud security startup Wiz, and API security firm Noname Security.
The funding for Cyberstarts comes at a time when investors are watching the cybersecurity market closely and anticipating a decline from last year’s record high, consistent with a general slowdown in venture-backed startups across the board. other sectors. Nearly $6 billion was invested in cyber startups by venture capital firms in the first quarter of this year, according to Crunchbase, a notable year-over-year increase, but down from 8 $.2 billion raised in the fourth quarter of last year.