Israeli start-up Camelot has completed a second financing round, totaling $21 million and led by the Star fund and Ampal-American Israel Corporation. The company value for the round was not disclosed, but is estimated at $70 million, after money.
In the first round, completed at the end of 1999, Camelot raised $2.2 million, mainly from the Softbank venture capital fund. In the seed round in mid 1999, the company raised $3.5 million.
Additional investors and funds in the current round are Seed Capital Partners, owned by Softbank of Japan, Koor Corporate Venture Capital, Ophirtech, Global Technology Ventures and US fund PCG of the Pacific Capital group, the merchant bank that established Global Crossing.
Camelot develops security software for communications networks. The company’s first solution is at the beta stage and is expected to be officially released in January 2001. The software will monitor employee activity and warn about irregular operations.
Camelot was founded in 1998 by chairman and CEO Yuval Baharav, formerly a Koor executive. The company has a staff of 130 and offices in Haifa and New York.
Published by Israel's Business Arena on 2 October, 2000