9 Israeli companies reached unicorn status in Q1 of 2021

Nine Israeli-founded, private companies have joined the unicorn club since January 2021. For reference, 15 Israeli-founded companies became unicorns in all of 2020, and 12 joined the unicorn club in 2019.

In addition, unicorns aside, Israeli companies are drawing record investments and growing at impressive speeds, with multiple firms successfully raising funding rounds of over $100 million (dubbed mega-rounds) at a time. In a single day this month, one Israeli company – retail data firm Trax – raised over half a billion dollars. Another company, insurtech outfit Next Insurance, doubled its valuation to $4 billion in six months, raising two rounds of $250 million in six months.

Yet another company, Melio, became valued at over $1 billion in just three years after raising over $250 million in two rounds in six months to fuel its digital payments platform. And cloud security startup Wiz shot to unicorn status in just over a year, securing two founding rounds of over $100 in three months.

9 Israeli Unicorns of Q1 2021:
DriveNets
In January, Ra’anana-based Israeli telecommunications startup DriveNets announced the completion of a $208 Series B funding round at a valuation of more than $1 billion.

OwnBackup
Cloud services and recovery company OwnBackup raised $167.5 million at a $1.4 billion valuation in January. Founded in 2012, OwnBackup recovers lost and corrupted data caused by human errors, malicious intent, integration errors and rogue applications.

K Health
January 2021 was a big month for unicorns and K Health, the Israeli AI-powered telemedicine health platform, joined the club at that time, announcing a $132 million Series E round at a valuation of $1.4 billion.

Melio
Israeli fintech startup Melio, the developer of a digital payment platform focused on US small and medium businesses, raised $110 million in funding, the company announced in January, sending its valuation soaring to $1.335 billion in just three years since it was established.

Yotpo
In March 2021, Yotpo, a leading eCommerce and content marketing platform that helps retail brands generate online revenue growth, announced the closure of a $230 million Series F funding round at a valuation of $1.4 billion.

Orca Security
Also in March, Israeli cybersecurity company Orca Security raised $210 million in a Series C round led by CapitalG (formerly Google Capital), the independent growth fund by Alphabet (Google’s parent company), and Redpoint Ventures. This drove Orca’s valuation to $1.2 billion.

Aqua Security
Aqua Security announced a $135 million Series E financing round in March 2021 at a valuation of over $1 billion. Founded in 2015, Aqua Security offers a cloud-native security solution that covers the full life cycle of products from development to production.

Wiz
Just three months after emerging from stealth mode and raising $100 million, Israeli startup Wiz closed on a second funding round of $130 million in March 2021 at a company valuation of $1.7 billion.

Papaya Global
Papaya Global, a Tel Aviv cloud-based payroll and payment management platform, raised $100 million in a Series C funding round, the company announced in March, bringing its valuation to over $1 billion.

 

source: https://nocamels.com/2021/04/9-israeli-companies-unicorn-1b-q1-2021/