CTECH Latest Israeli Innovation & Technology News May 21, 2024
CyberArk makes bold move with $1.54 billion acquisition of Venafi. The Israeli company is purchasing the machine identity management company from Thoma Bravo as it looks to combine Venafi’s expertise with its identity security capabilities. Read more
Wix increases profit, upgrades forecast for 2024. Wix’s revenues in the first quarter amounted to $419.8 million, while GAAP net income reached $24 million. Read more
Exodigo’s journey from underground to one of Israel’s most promising startups. The company was ranked third among the most promising Israeli startups this year – its COO & Strategy Tamir Cohen shares how it manages its massive growth. Read more
AI chip unicorn Hailo appoints Rakefet Russak Aminoach as Chairwoman of the Board. Russak Aminoach has been serving as a director on Hailo’s board for four years, and she replaces the late Zohar Zisapel, who had served as the Chairman of Hailo since its founding. Read more
“From the very start, startups should consider who they are, what defines them, and what will help them succeed.” Oz Alon, CEO of HoneyBook, and Tom Nipravsky, CEO of Jux, recently engaged in a candid conversation about the challenges of building and maintaining a successful startup. Read more
Why did NICE shares drop 13% after the CEO announced his retirement? The main concern of NICE investors is that Eilam is retiring at its peak. GenAI is expected to have critical consequences specifically for the world of marketing, sales, and customer relationship management, presenting a formidable challenge for the next CEO. Read more
Joonko files for Chapter 11, plans to distribute remaining $4.25 million to investors. The startup’s operations effectively came to an end last summer after Ilit Raz, the former CEO of Joonko, left the company amid allegations from the board that she “engaged in egregious, unethical, and fraudulent conduct.” After leading the investigation on behalf of the investors and the management, COO Ilan Band is now seeking to complete the closure of the company. Read more
Glassbox to be taken private by Alicorn VC in $150 million deal. The software company went public at a $500 million valuation three years ago. Read more
“GenAI creates an attack surface different from everything we’ve seen before.” Yael Macias, Head of Marketing at Prompt Security, joined CTech to discuss its position on Calcalist’s list of Israel’s Most Promising Startups of 2024. Read more
“I hope climatech is the future of technology in Israel and across the globe.” Amit Peri, Head of Israel at SE Ventures, spoke to CTech about some of this year’s most promising Israeli startups. Read more
Blackstone acquires Israel’s Priority Software at an $800 million valuation. This marks the largest deal for the alternative asset manager in the country since it opened its offices in 2021. Read more
Agora nets $34 million Series B for real estate investment management platform. The Israeli startup’s solutions include tech-enabled financial services, including expert tax, bookkeeping, and international money transfer services. Read more
NICE CEO Barak Eilam to step down after 10 years. Eilam will remain in his position as CEO until the end of the year and will actively participate in the search for his replacement. Read more
Enlight unto the nation: Gilad Yavetz carries on legacy of fallen soldier son. On October 7, at a quarter to 8 in the morning, Gilad Yavetz spoke to his son Yiftah for the last time. “There’s a big mess. Dozens of terrorists are inside the country, we’ll talk later,” Yiftah, who served in the Maglan Unit of the Commando Brigade, told him. About four hours later, he was killed in the defense of Nahal Oz. In an exclusive interview, Yavetz talks about the terrible loss, explains the values he instilled in his son, and how he will continue his legacy: through assistance to the people of Nahal Oz and by combining the renewable energy giant that he leads, Enlight, in the rehabilitation of all the Gaza border communities. Read more
Startup Nation rallies for child survivors of October 7 with tech stock fund. The goal is to secure stock donations from 100 Israeli tech companies by the end of 2024 which will convert to cash during liquidity events, exits, and IPOs. Read more
AI data platform WEKA achieves unicorn status with $140 million Series E at $1.6B valuation. The Israeli startup more than doubled its valuation from November 2022. Read more
Monday.com shares surge on strong Q1, 2024 outlook. In its full forecast for 2024, Monday said it expects total revenue of $942 million to $948 million, representing year-over-year growth of 29% to 30%. Read more
‘Follow your heart?’: Some career advice will just lead you to a dead end. In a world where we are bombarded with messages of self-fulfillment such as “follow your heart,” many young people enter the job market with high expectations, only to discover that reality is completely different. The big titles and glamorous images, alongside the enticing terms of employment, obscure the fact that hard work, patience, and effort in creating real value are the keys to managing a meaningful career, even in a changing world. “Follow your dreams” may be the worst career advice for young people. Read more
Amid financial strains, Israel’s tech sector eyes a resilient future. Israeli high-tech has demonstrated impressive resilience during a challenging period. To realize its long-term potential, a comprehensive national plan is required, led by a full-time high-tech minister. Read more
The new Zionism. Just when we were finally making it in the United States, October 7th came and reminded me where I’m from. I was drafted and I considered leaving Venn to go into politics, but building a global Israeli company is Zionism at its best. Read more
The 50 most promising Israeli startups – 2024. Economic slowdown, judicial overhaul, fleeing investors, October 7, and a war. By any measure, the past year was the most difficult in the history of local high-tech, making this year’s 50 most promising startups the epitome of excellence. Read more
The Edge of Tech | Who are the 5 most promising Israeli startups of 2024? CTech’s AI-native show reveals which companies were ranked in the top five of the annual list. Read more
Who made the top 10 of Israel’s 50 most promising startups list? CTech’s AI-native show reveals which companies rounded out the top 10 of the prestigious list. Read more
“For Americans, Faye has become part of their passport.” Insurtech company Faye is disrupting the American travel insurance world, which has only begun to wake up in recent years. Founders Elad Schaffer and Daniel Green say that comparisons to other insurtech companies like Lemonade are inaccurate: “We have an opportunity to innovate in a market that hasn’t seen innovation in years.” Read more
How Trullion is transforming the accounting industry one innovation at a time. From Enron’s collapse to Trullion’s rise: Isaac Heller’s journey to try and reshape financial reporting. Read more
Rising from the depths: Exodigo’s journey through war and innovation. The Israeli startup navigated through the challenges of war as its employees were drafted into reserves, all while maintaining operations and advancing its groundbreaking AI technology for underground mapping. Read more
