Israeli cybersecurity company Cyera today announced that it is acquiring Israeli company Trail Security, a startup in a similar field of database protection. Both are portfolio companies of Gili Raanan's Cyberstarts. Trail Security, which has operated out of the media spotlight, was founded by graduates of the IDF Intelligence unit's Talpiot program.
Cyera said that it will pay $162 million in cash and its shares for Trail Security. Cyera was founded three years ago and has raised nearly $500 million to date. The company's valuation in its most recent financing round, which was completed earlier this year, was $1.4 billion.
Trail Security's 40 employees including 30 engineers will join Cyera, which estimates that its development department will grow to 500 employees within three years.
An especially swift exit for Trail Security
This is an especially swift exit for Trail Security's shareholders. The company was only founded in the middle of last year and has been operating in stealth. The founders are CEO Zohar Vittenberg, Nadav Zingerman and Roei Mutay. Trail Security has raised $35 million from Cyberstarts, Lightspeed Venture Partners and Charles River Ventures (CRV). However, most of the payment is in Cyera shares.
Cyera, founded by Yotam Segev, and Tamar Bar-Ilan is considered a leading Israeli players in database protection for large organizations Data Security Posture Management (DSPM).
Cyera cofounder and CEO Yotam Segev said, "The acquisition of Trail is a pivotal step in Cyera’s journey to reshape the future of data security. Cyera is determined to consolidate the siloed data security space and enable enterprises to navigate the growing data security challenges around AI and cloud. The addition of Trail is a huge leap forward in making this a reality for our customers, disrupting the entire data security space. Natively coupling DSPM with DLP gives every customer the crucial opportunity to build successful data security."
Trail Security cofounder and CEO Zohar Vittenberg added, "Joining Cyera marks an exciting new chapter for Trail. We’ve always aimed to push the limits of data loss prevention with AI. In Cyera, we’ve found a partner that shares our vision. Together, by combining our DLP with their leading DSPM platform, we’re delivering a solution that both identifies and protects against 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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