Israeli Startup Silk Security Is Acquired By Cyber Unicorn Armis for $150 Million

Israeli Startup Silk Security Is Acquired By Cyber Unicorn Armis for $150 Million

In an effort to better shield companies and organizations from hazards as they link a wide range of devices and systems, cybersecurity company Armis announced on Wednesday that it is purchasing Israeli cyber startup Silk Security for $150 million.

Established in 2022 by CEO Yoav Nathaniel, CPO Or Priel, and CTO Bar Katz, Silk Security has developed a platform that helps businesses and organizations turn security threats and vulnerabilities into manageable remediation activities that close security gaps.

Silk Security has received $12.5 million in funding thus far from Hetz Ventures, the Crowdstrike Falcon fund, and Insight Partners.

Armis, which has its headquarters in Palo Alto, California, was established in late 2015 to enable businesses to embrace new connected devices without worrying about cyberattacks.

“Global enterprises and governments need a platform that can address the entire lifecycle of cybersecurity threats,” said Armis CEO and co-founder Yevgeny Dibrov.

“Given today’s complicated, dynamic threat landscape [and] to ensure the entire attack surface is both defended and managed in real-time, organizations need a comprehensive solution that quantifies and reduces risk continually through the ability to prioritize and remediate the most important security findings at any given time, in any environment.”

According to Armis, it intends to incorporate Silk’s technology into its own products to develop an AI-driven cyber threat exposure management platform. This will enable security teams at businesses and organizations to centrally monitor and manage all of their security vulnerabilities and discoveries across cloud compute systems and connected devices, as well as automate breach remediation.

“Organizations across the world are struggling to address increasing concerns about security risks to ensure business continuity,” said Nathaniel. “These concerns can be resolved by creating proactive strategies to identify, manage and reduce those risks.”

The US venture capital and private equity firm Insight Partners acquired Armis in 2020 for cash, valuing the Israeli company at $1.1 billion. It was the biggest deal ever made for a private cybersecurity company in Israel.