Cyberstarts nets $60 million for fourth Seed fund
Cyberstarts nets $60 million for fourth Seed fund
Gili Raanan’s VC fund took its assets under management to $720 million on the back of acquisitions of portfolio companies Axis Security, Bionic, and Noname Security.
Cyberstarts has raised $60 million for its fourth Seed fund, bringing its assets under management to $720 million.
Cyberstarts was founded in 2018 by Gili Raanan, who was later joined by General Partners Lior Simon, Emily Heath, and Hila Zigman, and now also by new operating partner Adam Aarons, the former Okta Chief Revenue Officer. Cyberstarts’ seed investments include Wiz, Fireblocks, Transmit, Island, and many others.
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Cyberstarts partners (from left to right - Lior Simon, Emily Heath, Gili Raanan and Hila Zigman).
(Photo: Roni Shelef, Yossi Zeliger)
Cyberstarts announced its $60 million Seed Fund III in August 2022.
Cyberstarts’ investors and limited partners (LPs) are comprised of some of the industry’s most prominent leaders including Shlomo Kramer of Cato Networks, Imperva, and Check Point, Marius Nacht of Check Point, Nir Zuk from Palo Alto Networks, Mickey Boodaei and Rakesh Loonkar of Transmit Security, Udi Mokady from CyberArk, Nir Polak of Exabeam, Michael Shaulov of Fireblocks, and Assaf Rappaport of Wiz, to name a few.
The new Seed fund comes on the back of acquisitions of portfolio companies Axis Security, Bionic, and Noname Security, crossing $1 billion in total deal value.
Cyberstarts' rise to success has been accompanied by some controversy, largely due to its executive advisory program. According to Calcalist, points worth tens of thousands of dollars were awarded to CISOs of organizations for deepening relationships with the fund's portfolio companies, aiding their growth. This part of the program was scrapped earlier this year, according to Raanan.
Last September, Cyberstarts raised $480 million for a new opportunity fund. The fund, named Cyberstarts Scale, came on the back of a $200 million opportunity fund raised in March 2022.
