The Jerusalem Post

Start-Up Nation’s tech buzz: This week’s top initial public offerings, acquisitio­ns and start-up investment­s from local firms

- • By ZEV STUB

Israel’s hi-tech sector continues to fire on all cylinders with intense investment and acquisitio­n activity.

This week saw Israeli companies go public at a torrid pace. On Wednesday, cybersecur­ity company SentinelOn­e raised more than $1.2 billion in an IPO, at a company valuation of $8.9b. The stock rose 21% on its first day of trading, closing at $42.50.

Game and app monetizati­on platform ironSource began trading on the NYSE Tuesday in the largest Israeli IPO ever after completing a SPAC merger, at a company valuation of $11.1b. Meanwhile, native advertisin­g giant Taboola began trading Thursday at a valuation of $2.6b. following its SPAC. (Taboola’s rival, Outbrain, also filed an IPO on the Nasdaq this week.) Online payments provider Payoneer also did a SPAC merger and Nasdaq IPO at a $3.3b. valuation earlier this week.

Those offerings cap off an exceptiona­lly busy month. Earlier in June, task management company monday.com raised more than $700 million in an IPO at a company valuation of $6.8b. WalkMe, whose platform helps guide users to adopt new tools, raised $287m. at a company valuation of $2.6b. And ad-tech company Tremor raised $150m. in a secondary offering at a valuation of $1.7b.

That’s just the IPO news. On the acquisitio­n scene this week, Hewlett Packard Enterprise said Thursday it was acquiring cloud data security company Zerto for $374m. in cash. And on Tuesday, devOps platform provider JFrog said it was acquiring Tel Aviv-based software security company Vdoo for about $300m.

There was also plenty of start-up investment fundraisin­g this week. API (applicatio­n programmin­g interface) security company Noname Security said Wednesday it raised $60m. in a Series B round, for a total of $85m. in six months. INSHUR, an insurtech company backed by JVP, among others, raised $35m. for its rapid insurance policy service for delivery workers and drivers of shared vehicles. Juno Journey, the creator of an AI platform that enhances employees’ profession­al developmen­t, said it has raised $19m. in Series A funding in its first institutio­nal funding round. And on Thursday, Internet of Things (IoT) company floLIVE said it raised $15.5m. in Series B financing to roll out its new global 5G network.

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