Israeli cybersecurity co Apiiro raises $100m

Israeli cloud-native application security company Apiiro has announced the completion of a $100 million Series B financing round led by General Catalyst with participation from Greylock and Kleiner Perkins. Tel Aviv-based Apiiro had been in talks in September to be acquired by Palo Alto Networks for more than $550 million but the deal did not work out.

Apiiro’s founders are Idan Plotnik (CEO) and Yoantan Eldar (CTO), who both served in an IDF cyber unit. Plotnik sold a previous cybersecurity company Aorato to Microsoft for $200 million, and subsequently worked at Microsoft. Eldar was architect and engineering manager at Aorato. Apiiro’s solution identifies risks and weaknesses in the code of cloud-based applications at the development stage and when they are released.

Plotnik said, “The unrelenting demand for next generation application security solutions has allowed us to deploy our product at-scale with leading Fortune 500 customers. Early innovation enabled us to grow faster and more efficiently than the competition, and we are building the company for hyper growth. The combination of our team, business momentum, and support from top-tier investors positions Apiiro to continue to lead a growing industry.”

Published by Globes, Israel business news – en.globes.co.il – on November 4, 2022.

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