Israeli cybersecurity startup Toka has raised a $12.5 million financing round just two months after it was founded. The round was led by Andreessen Horowitz with the participation of Entrée Capital, Dell Technologies Capital, Launch Capital, and RedSeal CEO Ray Rothrock.
The Tel Aviv-based startup was founded by former Israeli prime minister Ehud Barak along with Brig. Gen. (retired) Yaron Rosen, former chief of Israel Defense Forces cyber staff; Alon Kantor, former Check Point Software Technologies Ltd. (Nasdaq: CHKP) VP business development and Kfir Waldman, former Go Arc CEO.
The founders say that government agencies and enforcement bodies are required to buy more than one cybersecurity product and must develop an overall strategy. Toka seeks to assist these agencies in developing an array of software products and unique cyber strategies.
Barak first became involved in high-tech when he became a partner in the SCP investment fund in 2004. At the same time, he served as a consultant to US public pension funds and he persuaded the Pennsylvania teachers fund to invest $125 million in the SCP fund, which focuses on Israeli military technology investments.
In 2016, Barak made a $1 million private investment in Israeli startup Carbyne (then called Reporty) and became the company's chairman. The company has raised $15 million to date and developed integrated video systems for emergency call centers.
However, Toka is the first startup that Barak has founded.
Published by Globes [online], Israel business news - www.globes-online.com - on July 16, 2018
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