In the last few decades, a small state in the heart of the Middle East, Israel, emerged as the leader of startups in technology. One startup per 1400 people makes Israel the country with the highest startups per capita globally. Driven by innovation, Israel has become the powerhouse of technology and a model to follow for the world.
We are nearing the end of 2021 and the Israeli tech startups have wrapped up a record by securing $25 billion in funding. So far this year, 33 companies in the region have entered the unicorn club with over $1 billion valuation, according to the latest report by Start-Up Nation Central (SNC).
In comparison to 2020, the value of capital investments is a whopping 136% higher this year. The report added that the funding in Israeli startups and companies was almost 71% more than the global average. While, eToro, Snyk, Gusto are the flag bearers of the Israeli tech startup ecosystem – more leading startups have earned big names this year with their hard work, hitting the unicorn club and getting triple digits of funding.
Today at TFN, we take a look at the 10 Israeli tech companies that are now becoming global names and competing head to head with the global tech giants.
Gett
Founders: Dave Waiser, Roi More
Founded year: 2010
Funding: $838M
Uber rival and the mobility unicorn Gett is a global ridesharing app, which was built on the simple idea that drivers who are treated better will treat their riders better. Gett offers on-demand ride-hailing, taxi and limousine booking options for its users on a single platform.
Formerly known as GetTaxi, it is a technology platform, which solely focuses on corporate Ground Transportation Management (GTM). Last month, Gett was in the headlines when it was looking to go public as it was all set to close on a special purpose acquisition company (SPAC) merger with Rosecliff Acquisition Corp. I. backed by Rosecliff Venture Management LLC.
Orca Security
Founders: Avi Shua, Gil Geron
Founded year: 2019
Funding: $632M
Orca’s cloud-native cybersecurity solution reads a company’s cloud configuration to detect malware, misconfigurations, and other vulnerabilities. It provides cloud-wide, workload-deep security and compliance for AWS, Azure, and GCP.
In October 2021, Orca Security raised $550 million in an extended Series C fundraising round led by Temasek, which is based in Singapore. With this round, the valuation of the company increased by 50% to $1.8 billion.
Fireblocks
Founders: Idan Ofrat, Michael Shaulov, Pavel Berengoltz
Founded year: 2018
Funding: $889M
Israeli cryptocurrency platform Fireblocks has developed a cryptocurrency platform designed for banks and financial institutions. It develops secure infrastructures to store and transfer cryptocurrencies and assets for payment companies, crypto exchanges, banks, non-bank credit companies, hedge funds, and other financial institutions.
Earlier this month, the digital asset custody firm picked up $400 million in a Series E round led by Sequoia Capital. With this round, the valuation of the company increased by eleven-fold this year, thereby valuing it at $8 billion.
REE Automotive
Founders: Ahishay Sardes, Daniel Barel
Founded year: 2011
Funding: $317M
REE is an automotive technology firm which creates the cornerstone for zero-emission vehicles. Its mission is to empower global mobility companies to build any electric or autonomous vehicles of any size or shape from class 1 through class 6. It offers multiple customer benefits such as more space and volume with the smallest footprint, complete vehicle design freedom, lower TCO, ADAS compatibility, faster development times, and reduced maintenance.
In August this year, REE Automotive bagged $17 million from the UK government, which is a part of its $57 million investment coordinated via the Advanced Propulsion Center (APC).
Wiliot
Founders: Tal Tamir
Founded year: 2017
Funding: $269M
Wiliot is an IoT semiconductor company co-headquartered in Israel and San Diego. It focuses on making a cost-efficient and lightweight Bluetooth sensor, which allows for object identification, waste reduction, and inventory management.
In July this year, Wiliot secured a $200 million investment from Softbank and other investors. It was announced that the funding will be used to advance the development of their updated sensors and their unique AI sensing-focused business model.
Moon Active
Founders: Samuel Albin
Founded year: 2012
Funding: $425M
Touted to be the fastest-growing mobile game companies, Moon Active produces engaging entertainment for its players. It has developed several new games across categories targeted at growth via mergers and acquisitions of different sizes.
Back in November, the Coin Master developer Moon Active raised a $300 million secondary funding round, which took its valuation to $5 billion. The funding round was led by Insight Partners along with participation from Andalusian Private Capital.
At-Bay
Founders: Rotem Iram, Roman Itskovich
Founded year: 2016
Funding: $292M
Cybersecurity insurance company At-Bay sets itself apart from others by monitoring the perimeter of its customers’ networks. It will alert them in case of security threats or vulnerabilities. At-Bay looks out for potential security issues and prevents network intrusions, as well as, data breaches. Eventually, it will reduce losses for the company and insurance payouts.
In October 2021, At-Bay closed a $20 million extension to the Series D financing it secured in July from a new investor ION Crossover Partners. With this, the total Series D round accounts for $205 million and it valued the company at $1.35 billion.
Hailo
Founders: Avi Baum, Hadar Zeitlin, Orr Danon
Founded year: 2017
Funding: $236M
Hailo is challenging Intel and Google with its specialised deep learning processor, which delivers the performance of a data center-class computer to edge devices. This AI chip is called Hailo-8 and it is designed to fit into a range of smart machines and devices.
So far this year, Hailo has raised $136 million in a Series C round of funding, which has valued it at $1 billion. The investment was co-led by Poalim Equity and Gil Agmon among others. The investment will be used to double down opportunities to implement AI modules in edge devices.
Wiz
Founders: Ami Luttwak, Assaf Rappaport, Roy Reznik, Yinon Costica
Founded year: 2020
Funding: $600M
The Israeli cybersecurity company lets companies find security issues in the public cloud infrastructure. The cloud security company has designed the first cloud-native visibility solution for enterprise security teams. Its solution analyses the entire cloud environment to deliver a 360-degree view of security risks along with actionable, graph-based analysis and all completely agentless.
In October, Wiz announced that it has raised $250 million in a Series C round, which values the company to $6 billion, thereby making it the world’s fastest unicorn. The round was co-led by Greenoaks and Insight Partners along with other investors.
Melio
Founders: Ilan Atias, Matan Bar, Ziv Paz
Founded year: 2018
Funding: $504M
The fintech Melio, gives small businesses a way to digitally manage their business-to-business payments and receivables. It was built to help small businesses keep up with business. It provides a single, integrated solution, which allows small businesses to quickly transfer and receive payments.
In September, the digital payments company, picked up $250 million in a Series D round. With this round, the company’s valuation increased to $4 billion.
