Google snaps up VC-backed Israeli cybersecurity firm Siemplify

 Google snaps up VC-backed Israeli cybersecurity firm Siemplify

Google has acquired Israeli threat detection company Siemplify, reportedly for $500 million, marking its first cybersecurity purchase outside of the US.

Siemplify is Google’s fourth Israeli acquisition. The tech giant’s first purchase in the West Asian nation was in 2013 when it bought traffic satellite navigation app Waze for more than $1 billion.

Sunil Potti, Google’s vice-president and general manager in charge of cloud security, said in a blog post that Siemplify will become part of Google Cloud’s team.

“In a time when cyberattacks are rapidly growing in both frequency and sophistication, there’s never been a better time to bring these two companies together,” Potti said.

“We both share the belief that security analysts need to be able to solve more incidents with greater complexity while requiring less effort and less specialized knowledge. With Siemplify, we will change the rules on how organizations hunt, detect, and respond to threats,” he added.

Siemplify was founded in 2015 by CEO Amos Stern, a former Israeli intelligence officer, along with chief technology officer Alon Cohen and chief operating officer Garry Fatakhov. The company has offices in Tel Aviv, although it is now headquartered in New York.

The company has raised a total of $58 million from venture capital investors, according to Crunchbase. This includes $30 million in Series C capital in 2019 and $14 million in Series B the year before. Its VC investors include 83North, Georgian and Jump Capital.

“Beyond Google’s resources, expertise and overall commitment to cybersecurity (including a recent pledge to invest $10 billion in cybersecurity over the next five years), we have found a remarkable partner in Google Cloud,” Stern said in his own blog post.

Aman Malik

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