Ehud Schneorson, a former commander of IDF signals intelligence unit 8200, has announced that he will be leaving Paragon, the cyberattack company he co-founded with former prime minister Ehud Barak. Schneorson has led Paragon in recent years, following its sale to US firm REDLattice and the subsequent SPAC merger last month.
Schneorson will join his co-founder from Paragon, Idan Nurick, who left to found a new startup, Ribon, that has been generating significant buzz in Israel’s technology sector over the past few weeks. Ribon is a cyber company founded by Nurick alongside "Lt. Col. D.," a venture capitalist currently on demobilization leave from a technological military unit.
As first reported by "Globes", Nurick, Schneorson, and Lt. Col. D. had been developing a business concept in the months leading up to their departure; however, they waited until Paragon’s founders had ceased working at REDLattice and for Lt. Col. D.’s formal discharge from the military before launching the new venture. In the meantime, they secured interest from investors willing to back the company at a remarkably high valuation-even before its official incorporation. Industry estimates suggest that Nurick, who is spearheading the new venture, has secured commitments from investors to invest in three rounds investment commitments across three rounds, among them Sequoia Capital and Omri Casspi, at valuations from $100 million up to $1.2 billion, under a future agreement that could materialize shortly after the company’s formation. It is widely believed within the industry that the company will develop cyber systems focused on "digital sovereignty", a field that enables corporations and states to maintain control over the value chain of their cyber tools and software.
Schneorson was a co-founder of Paragon in 2019. Following his departure, he will continue to serve as a consultant to the company while also taking on a role as an entrepreneur at Ribon. In December 2024, Paragon was acquired by investment fund AE Industrial Partners, which specializes in the defense and cyber sectors and owns REDLattice, the subsidiary with which Paragon was ultimately merged. The group is currently pursuing a merger with Bold Eagle Acquisition Corp., a move expected to lead to its listing on Nasdaq under the ticker symbol REDL, subject to the completion of the transaction and receipt of the necessary approvals.
Paragon states that Israel will remain the company’s hub for research, development, and innovation, and that the knowledge and capabilities developed there will continue to serve as the foundation for the company’s operations and growth.
Published by Globes, Israel business news - en.globes.co.il - on October 29, 2026.
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