Tech Buzz: Cybereason raises $275m., triples valuation

Even after raising a record $11.9 billion in the first half of 2021, Start-Up Nation is not slowing down in July. After raising more than $400 million last week, Israeli companies had raised nearly $300m. this week.

Cybersecurity company Cybereason has secured $275m. in crossover financing, led by Liberty Strategic Capital, a fund that was founded by former US secretary of the Treasury, Steven Mnuchin. This latest round of investment triples Cybereason’s valuation to more than NIS 3 billion, according to analysts. Cybereason will use the proceeds to continue to fuel the company’s growth, driven by strong market demand for its AI-powered Cybereason Defense Platform.

This round follows $389 million in prior funding from Softbank Group, CRV, Spark Capital and Lockheed Martin.

Aidoc, a Tel Aviv-based maker of artificial-intelligence solutions for medical imaging, has raised $66m. in a Series C round, bringing its total funding to more than $140m. Aidoc’s FDA-cleared solutions analyze medical images for critical conditions and trigger alerts, supporting medical specialists in reducing turnaround time and improving quality of care.

The round, led by General Catalyst, follows a surge in demand for Aidoc’s AI-driven solutions, including the largest clinical deployment of AI in healthcare through its partnership with Radiology Partners.

Jasper Card, a financial-services company, has raised $34m. in Series A financing, led by Benslie International Fund, it said. The Jasper credit-card program approves customers based on their future potential credit, not only their credit history, providing access to credit cards to more than 15,000 customers at least 1.3 million times.

Jasper Card employs more than 50 people across its development center in Israel and its New York headquarters. This new funding will allow Jasper to grow its AI technology to further develop its underwriting model and introduce a new line of financial services.

IVIX, a technology platform built to combat the shadow economy, closed a $13m. seed-funding round, led by Team8, it said in a press release. It develops tailored technologies that automatically analyze public data sources to identify in-scale tax evasion and help tax authorities around the world reduce widespread evasion.

Global tax evasion totals about $20 trillion annually, resulting in $6t. in lost revenue annually, IVIX said. The financing will allow it to grow exponentially, mainly in the areas of sales and marketing.

Shopic, a retail AI solution provider, has raised $10m.n in equity funding, bringing the total amount raised to date to $21m., it said. The round was led by technology growth investor Claridge Israel.

Shopic creates frictionless, personalized shopping experiences in brick-and-mortar stores and works with some of the largest retailers in Europe, the US and Israel. It said it would use the new funds to accelerate commercial activities and expand its team.

GreenRoad Insights,

which develops advanced technologies for proactively improving driver safety for driving fleets, has published a prospectus for an IPO to raise tens of millions of shekels on the Tel Aviv Stock Exchange, it said.

It has a proven business model, revenues of tens of millions of shekels per year and a strong international customer base, including companies such as energy company Chevron. The company is based in Holon and has 70 employees worldwide.