US cybersecurity firm Palo Alto Networks (Nasdaq: PANW), based by Israeli Nir Zuk, is near finishing the acquisition of one other Israeli startup, its eighth such acquisition. Palo Alto is about to shut the acquisition of Israeli cybersecurity firm Apiiro at a worth estimated to be upwards of $550 million. The deal has not but been formally introduced, and neither Palo Alto nor Apiiro would remark.
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Apiiro was based in 2019, and unveiled in in October 2020, when it introduced that it had raised $35 million in a funding spherical led by two well-known US enterprise capital corporations, Greylock and Kleiner Perkins. So far as is understood, that is the corporate’s solely fundraise.
Apiiro’s founders are Idan Plotnik (CEO) and Yoantan Eldar (CTO), who each served in an IDF cyber unit. Plotnik bought a earlier cybersecurity firm Aorato to Microsoft for $200 million, and subsequently labored at Microsoft. Adler was architect and engineering supervisor at Aorato.
Apiiro’s answer identifies dangers and weaknesses within the code of cloud-based purposes on the growth stage and when they’re launched. It’s a part of a worldwide development referred to as “Shift Left”, that’s, safety checks at an early stage of the method and never simply after growth is full. British-Israeli startup Snyk, which was valued at $8.5 billion in a fundraise final yr, is among the fundamental gamers on this development of discovering safety issues on the growth stage. Apiiro is a a lot smaller participant, however has some notable names amongst its clients, reminiscent of Morgan Stanley and BlackRock.
Printed by Globes, Israel enterprise information – en.globes.co.il – on September 20, 2022.
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