Israel’s cyber sector jumped a stunning 70% last year, according to an Israel National Cyber Directorate report.
Issued on Thursday, the report said that the country’s cyber sector had raised $2.9 billion in investment revenue, spread over more than 100 transactions.
“The coronavirus caused an unprecedented movement of a range of physical activities both in quantity and speed to the digital space, something which created many national cyber vulnerabilities and raised the need for readiness [for defending against hacking threats] in every part of the global marketplace,” said INCD official Roi Yarom.
In addition, the report said that Israel exported $6.85 billion in revenue overseas from its cyber sector.
Furthermore, five Israeli cyber companies – Forter, Cato, SentinelOne, Snyk and BigID-1 networks – were in a top index for cyber companies, reserved for companies valued at over $1 billion and giving Israel a 33% share of the index.
INCD assisted 300 Israeli companies with various cyber issues during 2020.
Moreover, 140 Israeli cyber companies joined Marketplace, a new cyber platform for Israeli companies to be featured globally.