Year EndIsrael's biggest tech funding rounds of the first 25 years of the 21st century
Year End
Israel's biggest tech funding rounds of the first 25 years of the 21st century
Exploring the mega-deals that propelled Israel’s most promising startups to global prominence.
Over the past two decades, Israel’s technology sector has emerged as a global powerhouse, breaking records and redefining industries. From cybersecurity to fintech, Israeli startups have consistently drawn the attention of top-tier investors worldwide. The ecosystem, often referred to as the "Startup Nation," has evolved into a "Scale-up Nation," with companies securing unprecedented funding to fuel their growth and innovation.
2024 has been a landmark year for Israeli tech funding, with multiple companies raising hundreds of millions of dollars in single rounds despite global economic challenges. Wiz’s astonishing $1 billion raise, the largest in the nation’s history, symbolizes this momentum. But it’s far from an isolated story. Across industries, Israeli startups have captured the attention of SoftBank, BlackRock, and other major global players, reflecting their world-class technologies and bold visions.
Below, we dive into the top 10 funding rounds in Israeli tech since the start of the 21st century, showcasing the innovation, ambition, and impact of these game-changing investments.
Cybersecurity giant Wiz raised a historic $1 billion in May 2024, cementing its position as Israel’s most promising startup. The round pushed the company’s valuation to $12 billion, a meteoric rise fueled by its industry dominance and its rapid revenue growth of $500 million in annual recurring revenue (ARR).
Founded by Assaf Rappaport and his team of Adallom alumni, Wiz now serves 45% of Fortune 100 companies, offering cutting-edge cloud security solutions. The funding was complemented by bold moves, including the acquisitions of Dazz for $450 million and Gem Security for $350 million. Wiz’s rejection of a $23 billion acquisition offer from Google further underscores its confidence in scaling independently.
In 2021, Trax, a pioneer in retail analytics, raised $640 million in a Series E round led by SoftBank Vision Fund 2. The round, which valued the company at $2.25 billion, attracted major investors, including BlackRock and Canada’s OMERS.
Founded in 2010, Trax uses AI to help retailers optimize shelf performance, a critical need in the fast-evolving consumer goods market. The funding positioned the company to expand its global reach, leveraging partnerships with retail giants and advancing its cutting-edge technology.
Transmit Security stunned the cybersecurity world in 2022 with a $543 million Series A round, the largest in the sector’s history. The funding, which valued the company at $2.2 billion, was led by Insight Partners and General Atlantic.
The company, co-founded by Mickey Boodaei and Rakesh Loonkar, focuses on passwordless authentication solutions that enhance both security and user experience. The funding largely went to early investors and employees, reflecting the company’s robust early growth.
In January 2021, Rapyd, a fintech startup offering global payment solutions, raised $400 million at a $2.5 billion valuation. The round included $100 million in secondary funding, allowing early employees and investors to cash out.
Founded in 2015, Rapyd has become a leader in cross-border payment infrastructure, helping businesses navigate the complexities of global e-commerce. Its innovative approach has attracted investments from leading firms like Fidelity and BlackRock.
Cybersecurity startup Cyera achieved an extraordinary feat in 2024, raising $300 million in two separate rounds within seven months. The November Series D valued the company at $3 billion, triple its valuation from earlier in the year.
Founded by Unit 8200 alumni Yotam Segev and Tamar Bar-Ilan, Cyera’s rapid rise underscores the demand for advanced data security solutions in an increasingly complex digital landscape.
In 2023, Wiz raised $300 million at a $10 billion valuation. The round, led by Lightspeed Venture Partners, marked a significant milestone for the company, which had previously achieved a $6 billion valuation in 2021.
Ride-hailing platform Gett raised $300 million from Volkswagen in 2016, though the investment ultimately proved ill-fated as VW later wrote it off. Gett, founded in 2010, has experienced numerous ups and downs since its inception. The company raised $900 million, but was sold to Israeli company Pango for just $175 million earlier this year.
Rapyd’s Series E funding at a $10 billion valuation in August 2021 made it Israel’s highest-valued private tech company at the time. The round, led by Target Global, highlighted Rapyd’s significant role in the fintech ecosystem.
In 2023, insurtech unicorn Next Insurance secured $265 million from Allstate and Allianz X, bringing its total funding to $1.1 billion. Specializing in small-business insurance, Next has carved out a niche in a competitive U.S. market.
