Tiger Global gets a quick exit in Israel; Visionary.ai gets funding

 Tiger Global gets a quick exit in Israel; Visionary.ai gets funding

Cybersecurity major Palo Alto Networks has acquired Israeli startup Cider Security in a cash-and-stock deal that provides a quick exit to Tiger Global Management and Glilot Capital Partners.

Palo Alto Networks said it will acquire Cider Security for about $195 million in cash, excluding the value of replacement equity awards, subject to adjustment. Media reports pegged the total deal value around $300 million.

This comes after Cider Security, in March this year, raised $32 million in a Series A funding round led by Tiger Global and joined by Glilot Capital Partners, via its early growth fund Glilot+.

Glilot had also led an earlier $6 million seed funding round into the company. Cider Security has raised $38 million till date.

The Israeli startup employs 100 people spread across three different continents. It was founded in 2020 by Guy Flechter and Daniel Krivelevich.

Cider is the eighth Israeli startup acquired by Palo Alto Networks. The seven others it had earlier acquired include- cyber company Bridgecrew Technologies for $156 million in February 2021. It also acquired Cybera, LightCyber, Secdo, Twitslock, PureSec and Demisto. Palo Alto Networks itself was founded by Israeli entrepreneur Nir Zuk.

Visionary.ai

Jerusalem-based artificial intelligence startup Visionary.ai has raised an undisclosed amount in funding from National Grid Partners (NGP).

NGP is the venture investment and innovation arm of National Grid plc.

Visionary,ai, which develops AI for real-time video enhancement, will use the new money to accelerate adoption of its AI-based vision enhancement solutions.

The startup, which is led by chief executive officer Oren Debbi, allows cameras to achieve high-level image quality.

In October, NGP had backed another Israeli startup, Exodigo, which has developed a non-intrusive subsurface imaging platform.

Earlier this year, Visionary.ai had upped its seed round to $7 million. The round had been led by Ibex Investors with the participation of Spring Ventures and Capital Point.

Aman Malik

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