Stealth Israeli cyber startup valued at over $1.5 billion recruits former 8200 chief
Paragon co-founder Ehud Schneorson is stepping down from his management role to join Ribon, founded by his former subordinate Idan Nurick, which is estimated to have already raised approximately $200 million across several funding rounds.
Ehud Schneorson, co-founder of Israeli cyber company Paragon and a former commander of IDF intelligence unit 8200, is stepping down from his management role to join a new venture founded by his former subordinate and Paragon co-founder, Idan Nurick. Schneorson will remain an advisor to Paragon while joining Ribon, which is estimated to have raised approximately $200 million across several funding rounds and reached a valuation of more than $1.5 billion.
Schneorson played a central role in building Paragon from its founding in 2019 through its operational growth and international expansion. The company, established by veterans of Israel’s intelligence community, develops advanced cyber technologies for government, defense and law enforcement customers.
His move comes as Paragon prepares to enter the public markets as part of a broader U.S.-based cybersecurity group. The leadership transition also marks a new chapter for the company’s founders, who built Paragon into a major player in the commercial cyber surveillance market before selling it to American investment firm AE Industrial Partners.
In December 2024, AE Industrial Partners acquired Paragon in a transaction valued at up to $900 million and integrated it with U.S. cyber firm REDLattice. The combined group is now pursuing a merger with Bold Eagle Acquisition Corp., a Nasdaq-listed special purpose acquisition company. The deal is expected to result in a Nasdaq listing under the ticker symbol REDL, subject to completion and the necessary approvals.
Paragon and REDLattice reported combined revenue of $267 million for the 12 months through June 2026, an increase of 29% from the previous year. The group has said that becoming publicly traded will help fund its expansion, investment in technology and products, and strategic acquisitions.
Israel is expected to remain the center of Paragon’s research, development and innovation, with its Israeli operations continuing to underpin the group’s activities and growth.
