Tel Aviv-based cybersecurity company Hunters has bagged $15m in a Series A funding round from Microsoft’s M12 and U.S. Venture Partners.
The round was also supported through the participation of previous investors YL Ventures and Blumberg Captial. New investor Okta Venture also backed the raise, according to TechCrunch.
Hunters has now raised a total of $20.4m in funding and plans to use the money to strengthen its go-to-market capabilities in the US and to expand its R&D team in Israel.
Essentially, Hunters’ cybersecurity is set up to help enterprises defend themselves from intruders and analyse attacks by automating the threat-hunting process.
Cybersecurity has long driven the growth of FinTech activity in Israel. Over the years, the Israeli cybersecurity industry has only been second to the US in terms of funding, according to FinTech Global’s research.
Overall, Israeli FinTech companies raised more than $1.7bn across 142 transactions between 2015 and 2019. The same period saw the money raked in from backers jump from $118m in 2015 to $555.5m in 2019. The growth in the Isreali FinTech ecosystem is most noticeable in the increased share of deals valued at $5m and higher which jumped by 36.6pp between 2015 and 2019.
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