Israeli cybersecurity company Cyera is buying another Israeli company called Otterize, which focuses on protecting non-human identities (like software and machines) in cloud systems.
The deal is worth tens of millions of dollars.
“This is an opportunity to add one of the most talented teams I know, who bring highly advanced technology with them,” said Tamar Bar-Ilan, co-founder and CTO of Cyera, in a conversation with Calcalist. “Our goal is to become the largest and most important data security company in the world, powered by the most advanced platform available. Otterize will help us get there and strengthen our team in Israel. This is a major milestone on our journey.”
Bar-Ilan added, “Both the acquisition of Shape AI and this new acquisition will join our development team and advance the core projects critical to building our platform.”
This is Cyera’s third acquisition in Israel. Earlier, it bought Trail Security in October, which was later added to its platform.
So far, Cyera has spent around $250 million on buying Israeli companies.
The deal to buy Otterize was signed during the recent conflict between Israel and Iran. It shows that Israeli tech companies are still growing, raising money, and making big business moves even in tough times.
“Especially during the war, it was important for us to make this move. It’s a message of national resilience to our customers and to the world that nothing will slow us down. We are not just a company; we are also a mission on behalf of the state,” Bar-Ilan said.
This deal comes just two weeks after Cyera bought Shape AI. It also follows the company’s recent $540 million Series E funding round, which brings its total funding to $1.3 billion.
Cyera is now estimated to be worth $6 billion.
Otterize, founded in 2022 by Tomer Greenwald, Ori Shoshan, and Uri Sarid (former CTO of MuleSoft), has developed a solution for managing and securing non-human identities in cloud environments. The company’s technology combines open-source tools with a SaaS offering, providing full automation for determining the minimum access required for each service based on Intent-Based Access Control (IBAC) and then automatically configuring network and cloud infrastructure accordingly.
Otterize had earlier raised $11.5 million in seed funding. The round was backed by Index Ventures, Dig Ventures, and Vine Ventures, along with angel investors from top tech companies like Shopify, Snyk, Robinhood, Armis, Slack, GitHub, VMware, and Salesforce.
“Joining Cyera is an amazing next step for our team. From the get-go, the strong culture fit, exceptional talent, and strategic clarity of Cyera stood out to us,” said Greenwald and Shoshan. “We’re excited to help drive their continued rapid growth and innovation in data security. A special thanks to our investors, without whom this wouldn’t have been possible: Index Ventures for their early belief in our vision, Dig Ventures for sharpening our developer focus, and Vine Ventures for their unwavering support and for always being a thoughtful sounding board.”
Cyera was founded in 2021 by Yotam Segev (CEO) and Tamar Bar-Ilan (CTO). Both are graduates of the elite Talpiot program and served in Unit 8200, a top Israeli intelligence unit.
Cyera builds an AI-powered platform that helps companies find, organize, and protect sensitive data—no matter where it’s stored.
The company works in the global data security market, which is currently worth $24 billion.
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