Wednesday, April 17, 2024
HomeStartup NewsIsraeli based avalor is acquiring by Zscaler

Israeli based avalor is acquiring by Zscaler

Zscaler, an American cybersecurity company, is purchasing Israeli firm Avalor for a sum of $350 million. Zscaler has already acquired three companies in Israel it paid approximately $50 million for Canonic in February of last year and $40 million for Trustdome in April of 2021.

With a market valuation of over $30 billion, Zscaler employs 7,000 people and generates $2 billion in revenue annually. As reported by calcalistech.com .

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Avalor emerged from stealth mode in April of last year, having raised a $25 million Series A investment led by TCV and including Salesforce Ventures. Prior to the Series A, Cyberstarts led a $5 million Seed round in which Jibe Ventures and industry angels also participated.

With the aim of improving Zscaler’s cloud security platform, Zero Trust Exchange, and giving it the ability to handle massive amounts of data and offer insights into risks, Avalor will function as a separate division within Zscaler and carry on its existing development work. It is anticipated that Avalor will bring on dozens of new staff members after the deal closes.

Read also – Freed Secures $7.5 Mn in Series A Round Funding

Lior Simon, General Partner at Cyberstarts, commented, “This is not a bad return at all. I met Raanan and Kafir at a very early stage, and thanks to their strong background, a significant company was quickly formed.”

“AI is only as good as the underlying data, and many solutions lack the additional context and knowledge from data sources across the enterprise to truly leverage security specific AI models,” said Jay Chaudhry, CEO, Chairman, and Founder of Zscaler. “Zscaler operates the world’s largest security cloud with the most relevant data to train security specific large language models (LLMs) and with the Avalor acquisition, we can more effectively identify vulnerabilities, while predicting and preventing breaches.”

About Zscaler

Zscaler services are entirely cloud-delivered and provide a level of simplicity, security, and user experience that cannot be matched by hybrid solutions or traditional appliances. Zscaler, which is used in more than 185 countries, runs the biggest cloud security platform in the world, shielding millions of businesses and government organizations from data loss and cyberattacks.

About Avalor

Avalor is skilled at ingesting, enhancing, and correlating data from hundreds of sources. With the help of Avalor, businesses can better understand and manage risk by combining and correlating data and context from dozens of security and business solutions.

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