Blackstone investing $10 million in cybersecurity startup Adaptive Shield
Blackstone investing $10 million in cybersecurity startup Adaptive Shield
The financial giant is already a client of the Israeli startup, and this deal is part of a strategic agreement between the two companies to integrate the cyber company's technology into Blackstone's operations
Financial giant Blackstone will invest $10 million in Israeli cybersecurity startup Adaptive Shield through its growth fund BXG, Calcalist has learned. Blackstone is already a client of Adaptive Shield, and this deal is part of a strategic agreement between the two companies to integrate the cyber company's technology into Blackstone's operations. Calcalist has learned that the funding round was conducted at a higher valuation than in the company's previous round.
Adaptive Shield was founded at the end of 2019 by Maor Bin and Jony Shlomoff and currently employs 75 people in Tel Aviv and the U.S. The company raised $30 million in a Series A round led by Insight Partners in October 2021, along with other investors, including Okta Ventures and Vertex Ventures Israel.
The use and dependence on SaaS applications in organizations have seen exponential growth in recent years. While adopting these applications optimizes the operation of the organization, they have also become a prime target for attackers. Consequently, information security teams face numerous challenges. Adaptive Shield helps its clients' information security teams by monitoring and controlling all aspects of security in cloud environments, continuously identifying attacks.
Calcalist recently revealed another significant investment by Blackstone, amounting to tens of millions of dollars, in the Israeli fintech company Stampli. The fund's activities in Israel are managed by Yifat Oron, whose brother, Yanai Oron, is a managing partner at Vertex Ventures, one of the early investors in Adaptive Shield.
“Blackstone’s investment demonstrates its success with our offering and underscores Adaptive Shield’s innovative capabilities as the only SaaS security platform to integrate with more than 130 applications that covers an expansive SaaS attack surface,” said Maor Bin, co-founder and CEO at Adaptive Shield. “With Blackstone’s support, we will continue our trajectory for growth and expansion while keeping up with the constantly evolving threats.”
“Thinking about where attackers are going next is key to growing a world-class cybersecurity program that protects our brand, reputation, investors, and intellectual property,” says Adam Fletcher, Chief Security Officer at Blackstone. “We have partnered with and are using Adaptive Shield to help us continuously monitor the security posture of business-critical SaaS applications used across Blackstone to further protect the firm from attackers. We believe in Adaptive Shield’s mission and are excited to support the company with our investment as they enter their next stage of growth.”
