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Israeli tech unicorn Aqua Security raises $60M for its cloud-based cybersecurity approach

Aqua Security founders
Picture credits: Aqua Security

Israeli unicorn Aqua Security, which develops cloud-native security solutions, has raised $60 million in funding. The round was led by new investor Evolution Equity Partners, with participation from existing investors Insight Partners, Lightspeed Venture Partners (backed Cato Networks, Wondermind, and Zluri), and StepStone Group. 

With this round, the total investment raised by Aqua Security accounts for $325 million. The funding is an extension of the company’s Series E round, which was first announced in 2021 when the company raised $135 million at a valuation of over $1 billion. The valuation remains the same now. 

Reduces risk for businesses

Aqua Security was founded in 2015 by Dror Davidoff and Amir Jerbi in Tel Aviv and moved its headquarters to Boston in 2017. It sees and stops attacks across the entire cloud native application lifecycle in a single, integrated platform. From software supply chain security for developers to cloud security and runtime protection for security teams, the company helps customers reduce risk while building the future of their businesses.

As per the company, over 500 enterprise companies worldwide, including 40% of the Fortune 100 companies, have adopted Aqua’s cloud security approach. It is said to serve six of the top 10 banks in North America, and six of the top seven banks in Canada, making it the leading cloud-native security provider for the financial services industry.

Extension of its milestones in 2023

The funding comes after a stellar 2023 for Aqua Security. In addition to a 65% increase in new business over the year, the unicorn was named a Fortune Cyber 60 list of the most important venture-backed startups. Aqua also earned top honours including CISO Choice Awards winner in the Cloud Workload Protection Platform (CWPP) category and the “Enterprise Cloud Security Solution Provider of the Year” in the CyberSecurity Breakthrough Awards.

“Investors continue to appreciate Aqua’s enormous potential, and the surging demand for our solution,” said Dror Davidoff, co-founder and CEO of Aqua Security. “Eight years ago, we envisioned a world where all new applications would be built native to the cloud. Today we are here in a market we pioneered with a purpose-built solution to protect customers’ digital transformations. We are excited for what’s ahead in 2024”. 

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