Israel’s CyCognito secures $100 mn in Series C; Prytek grabs $107 mn

 Israel’s CyCognito secures $100 mn in Series C; Prytek grabs $107 mn

Israeli cybersecurity company CyCognito has raised $100 million at a valuation of $800 million in a Series C round led by The Westly Group.

Thomvest Ventures and The Heritage Group joined the round as new investors. Existing investors Accel, Lightspeed Venture Partners, Sorenson Ventures and UpWest also pitched in.

The four-year-old company, which is also backed by former Microsoft chairman John Thompson, said in a statement the new round takes its total funding to $153 million to date.

CyCognito has developed a platform which protects assets exposed and unmanaged on the Internet. The company was founded in 2017 by former Israeli intelligence officers Rob Gurzeev and Dima Potekhin.

The company employs 140 people, 90 of whom work in Tel Aviv. It also has an office in Palo Alto, California.

Prytek

Israeli corporate investment group Prytek Holdings Pte Ltd has raised $107 million from Davidson Kempner Capital Management, a global investment management firm.

As part of the deal, a representative of Davidson Kempner will join Prytek’s board.

Prytek doesn’t operate under a typical venture capital model, but as a corporate investment group that combines long-term investments in service companies along with short-term ones in startups. It also operates a UK-based investment arm called Delta Capital.

The company is headed by former Bank Hapoalim chief Yasir Seroussi, who is also the current chief of ZIM Integrated Shipping Services and Enlight Renewable Energy. Prytek is managed by Andrey Yashunsky and Arnon Shiboleth.

Prytek said it will use the fresh capital to accelerate its growth strategy. Specifically, it will grow its cyber and IT education platform ThriveDX, expand the financial services division anchored by Delta Capital and fund other managed service operations in the group.

Prytek counts several marquee companies in its portfolio including fintech startup TipRanks, which closed a $77 million funding round earlier this year. Other companies backed by the investment group include Cybint, PayMe, Scanovate, OpenLegacy, HopOn, and Ezbob.

Aman Malik

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