Israeli startup Scytale, which focuses on trust and security automation, has bought another Israeli company called AudITech. AudITech has raised $5 million since it started.
The deal values AudITech at about $15 million. All ten AudITech employees will join Scytale as part of the agreement.
Scytale created a cloud platform that helps companies manage rules for information security, privacy, and AI. It makes handling these rules faster, easier, and cheaper.
The platform watches over everything all the time, replacing slow and expensive manual work. This saves thousands of work hours and lets teams focus on growing their business.
AudITech’s leading technology will be added to Scytale’s Enterprise software. AudITech was started by Eli Edry (CEO) and Roni Beeri (COO).
They built a smart automation platform that helps with Sarbanes Oxley (SOX) IT controls. Their customers include big companies like monday.com, Fiverr, Pagaya, and ICL.
Scytale was started in 2021 by Meiran Galis and has raised tens of millions of dollars from private investors.
So far, the company has helped with thousands of audits for clients in 44 countries. It supports important international standards like SOC 2, ISO 27001, and GDPR. Some of its customers are well-known companies like Deel, Intel, Brella, Oligo Security, and Guesty.
“We all rely on information technology daily, making IT internal controls a vital part of running a business with all stakeholders aligned and in trust. This collaboration goes beyond merely integrating complementary products that support companies from their early stages to post-IPO,” explained Eli Edry, co-founder and CEO of AudITech. “It represents a partnership between two companies with shared missions, dedicated to making IT compliance easier, intuitive, and a key part of enterprise success. We are excited to join Scytale.”
Scytale’s founder and CEO, Meiran Galis, stated: “Scytale’s mission has always been to simplify and streamline security and privacy compliance for companies at every stage of their growth. The AudITech team has done an amazing job building an exceptional product and customer base. By bringing AudITech into the Scytale family, we are doubling down on that promise. Together, we’re delivering unparalleled technology capabilities that enable enterprises to smartly manage SOX audits and fully automate ITGC controls with confidence and efficiency. From early-stage startups to publicly traded companies, Scytale is the only complete compliance hub.”
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