Israel’s hi-tech sector continues to fire on all cylinders with intense investment and acquisition activity.
This week saw Israeli companies go public at a torrid pace. On Wednesday, cybersecurity company SentinelOne raised more than $1.2 billion in an IPO, at a company valuation of $8.9b. The stock rose 21% on its first day of trading, closing at $42.50.
Game and app monetization platform ironSource began trading on the NYSE Tuesday in the largest Israeli IPO ever after completing a SPAC merger, at a company valuation of $11.1b. Meanwhile, native advertising giant Taboola began trading Thursday at a valuation of $2.6b. following its SPAC. (Taboola’s rival, Outbrain, also filed an IPO on the Nasdaq this week.) Online payments provider Payoneer also did a SPAC merger and Nasdaq IPO at a $3.3b. valuation earlier this week.
Those offerings cap off an exceptionally busy month. Earlier in June, task management company monday.com raised more than $700 million in an IPO at a company valuation of $6.8b. WalkMe, whose platform helps guide users to adopt new tools, raised $287m. at a company valuation of $2.6b. And ad-tech company Tremor raised $150m. in a secondary offering at a valuation of $1.7b.
That’s just the IPO news. On the acquisition scene this week, Hewlett Packard Enterprise said Thursday it was acquiring cloud data security company Zerto for $374m. in cash. And on Tuesday, devOps platform provider JFrog said it was acquiring Tel Aviv-based software security company Vdoo for about $300m.
There was also plenty of start-up investment fundraising this week. API (application programming interface) security company Noname Security said Wednesday it raised $60m. in a Series B round, for a total of $85m. in six months. INSHUR, an insurtech company backed by JVP, among others, raised $35m. for its rapid insurance policy service for delivery workers and drivers of shared vehicles. Juno Journey, the creator of an AI platform that enhances employees’ professional development, said it has raised $19m. in Series A funding in its first institutional funding round. And on Thursday, Internet of Things (IoT) company floLIVE said it raised $15.5m. in Series B financing to roll out its new global 5G network.