Tech Buzz: Israel’s hi-tech market gets three new unicorns, two IPOs
Zev Stub | 07.29.2021 | Jerusalem Post
Even by the stratospheric standards of Israel’s hi-tech sector, this has been a crazy week. Three new Israeli companies reached unicorn status this week after raising money at valuations above $1 billion. Israel also saw two new Nasdaq IPOs, and a few big acquisitions.
Fireblocks, a platform that helps traditional institutions move into the digital asset space for payments, gaming, NFTs and digital securities, said Tuesday it raised $310 million in Series D funding, raising its valuation to $2b. The Tel Aviv-based company has raised a total of $489m. since its inception in 2019. The company, which also has offices in New York, said it will use the funds to continue its strategic expansion, scaling business lines and adding more customers and partners to its ecosystem.
Insurtech platform At-Bay raised $185m. in a Series D round of financing, bringing its valuation to $1.35b. The latest round is the company’s third round in the past 18 months and brings its overall funding to $272m. The company focuses on cyber insurance in the US, a field that is growing rapidly due to the increased prominence of cyberattacks on organizations but is mostly dominated by traditional insurance providers. The Tel Aviv-based company was founded in 2016 and currently employs about 120 people, split between offices in Israel and California.
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