Tenable acquiring Israel’s Vulcan Cyber in $150 million deal
Tenable acquiring Israel’s Vulcan Cyber in $150 million deal
Cybersecurity giant to integrate Vulcan’s technology into its security exposure platform.
Tenable, the Nasdaq-listed company specializing in security exposure management and valued at approximately $5.3 billion, is acquiring Israeli cybersecurity company Vulcan Cyber. Calcalist first revealed the negotiations between the companies last December. The companies stated that Vulcan Cyber’s capabilities will enhance Tenable’s security exposure platform.
Under the terms of the agreement, Tenable will acquire Vulcan Cyber for approximately $150 million. The acquisition is expected to close in the first quarter of 2025, subject to customary closing conditions. The purchase price includes cash held by Vulcan as well as payments to the company’s employees, meaning the actual amount transferred to the company’s investors and founders will be lower.
Recently, Amit Yoran, CEO of Tenable, passed away following a serious illness. The company is currently managed by a joint leadership team headed by Steve Vintz and Mark Thurmond. Vulcan Cyber employs 100 people, though it remains unclear how many will remain with the company following the acquisition.
Vulcan Cyber was founded in 2018 by Yaniv Bar-Dayan, Tal Morgenstern, and Roy Horev and has raised a total of $55 million. The company has offices in Tel Aviv, the U.S., and Europe.
Its most recent funding round took place during the war, raising $34 million in a Series B round in November 2023. Investors in Vulcan Cyber include Maor Investments and Ten Eleven Ventures, which led the latest round, as well as Dawn Capital, Wipro Ventures, YL Ventures, and several private investors, including Mickey Boodaei, Idan Plotnik, and Giora Yaron.
Tenable currently employs about 2,000 people worldwide, including several dozen in Israel, and is traded on Nasdaq at a valuation of approximately $5.3 billion. The company has previously acquired Israeli firms, including Eureka for tens of millions of dollars and Ermetic for about $250 million.
“CISOs are overwhelmed with scattered security products, siloed tools and disjointed teams which makes protecting their organizations from exposure a massive undertaking. As the pioneer behind Exposure Management, we are driven to solve this central challenge of modern security — a fragmented approach to identifying and combating cyber risk,” said Steve Vintz, Co-CEO and CFO, Tenable. “That is what this acquisition is all about. With Vulcan, we’re accelerating our Tenable One vision to radically unify security visibility, insight and action across the attack surface – from the data center to the cloud – to rapidly expose and close the gaps that put businesses at risk.”
“We’re thrilled to join forces with Tenable. Integrating Vulcan Cyber’s capabilities into the Tenable One platform will uniquely address all exposure management use cases across the entire attack surface,” said Yaniv Bar-Dayan, Co-Founder and CEO, Vulcan Cyber. “For the first time at scale, security teams will be able to consolidate exposure findings from multiple sources into a single, actionable interface. We are excited to start working with Tenable and their customers to remediate exposure risk.”
Yoav Leitersdorf, Managing Partner at YL Ventures, said: "YL Ventures invested in Vulcan Cyber’s Seed round in 2018, and we are proud of our long-standing partnership with Yaniv, Tal, and Roy. We believe that combining Vulcan’s cutting-edge technology with Tenable’s platform will set a new standard for vulnerability management in the global market."
