CYE raises $100M to continue growth in the global market

2021-02-12 00:15

The investment - EQT's first in an Israeli company - follows five years of partnership and will be used to continue CYE's hyper-growth in the global market.

"As hackers increasingly deliver devastating attacks, causing millions of dollars in lost revenue and productivity, CEOs of global companies have come to understand that accurately assessing cyber risk begins with them," said Reuven Aronashvili, Founder and CEO of CYE. "We are well past the point where companies can limit cyber threats to one department. Today's attacks can hit the core of any business, essentially crippling the company."

In addition to working with EQT and many of its portfolio companies, CYE's customers include global tier-one and Fortune 500 companies.

"The backing of CYE marks EQT's first deal in Israel, which is a highly attractive market for technology investments, and a country in which EQT intends to increase its activity going forward," said Florian Funk, Partner at EQT. "We have followed CYE's development closely over the years and we are truly impressed with the company Reuven and his team have built to date. Their approach of pairing AI-based technology, services and cyber expertise is unique in the marketplace and well-positioned for continued accelerated growth."

"We are proud to support CYE with both capital and competence as this investment aligns perfectly with EQT's thematic investment focus and ambition to back high growth companies by partnering with world-class management teams. We are excited to embark on this journey of building a global cybersecurity champion together."

"CYE is transforming the multi-billion dollar market of enterprise cybersecurity and we believe they are well on their way to becoming the market leader."

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