Israeli startups raised over $900m in November

Dollars Photo: Shutterstock

Israeli tech companies, which raised a record $8.3 billion in 2019, have already raised over $9.7 billion in the first 11 months of 2020, despite the Covid-19 crisis.

Israeli startups raised over $900 million in November, according to press releases from the companies and their investors. The figure may be more as some companies prefer to remain in stealth and sometimes do not publicize the investments they have received. November's high figure follows the record one-month raise of over $1.1 billion in September by Israeli startups, which was the first time that more than $1 billion was raised in a single month.

Israeli tech companies raised $8 billion in the first nine months of 2020, according to IVC-ZAG, nearly equaling the record $8.3 billion raised in 2019, which easily surpassed the record $6.4 billion raised by Israeli tech companies in 2018, and $5.24 billion in 2017, 2020 began strongly with $5.25 billion raised in the first half of 2020. November's haul of over $900 million raised by startups already surpasses last year's record amount, despite the Covid-19 crisis. In some instances, financing rounds by tech companies that facilitate remote working and healthcare and cybersecurity, have been boosted rather than hampered by the pandemic.

Three companies were responsible for more than half of the amount raised in November. Cybersecurity company SentinelOne raised $277 million, enterprise network and security company Cato Networks raised $130 million, and ecommerce fraud detection company Forter raised $125 million.

There were other major financing rounds from AI-based transcription and captioning company Verbit, which raised $60 million, Percepto Autonomous Solutions, which raised $45 million, and data driven telemedicine company K Health, which raised $42 million.

Published by Globes, Israel business news - en.globes.co.il - on December 1, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Dollars Photo: Shutterstock
Dollars Photo: Shutterstock
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