Israeli cyber security startup Vega has raised $65 million in a combined seed and Series A round, reaching a valuation of $400 million. The funding was led by Accel Fund, with participation from Cyberstarts, Redpoint and CRV.
Such a high valuation for a company that has been on the market for only 18 months shows the great confidence investors have in its technology and team.
Founded by graduates of the 8200 military intelligence unit, Vega is entering the crowded but still challenging security operations (SecOps) market.
The company aims to solve one of the key problems facing security operations centres (SOCs) today: the overload of data and alerts generated by existing systems such as SIEM. Vega’s technology aims to change the way organisations perform incident analysis, which is expected to reduce response times and increase analyst efficiency.
The funds raised will be used to intensify research and development and for dynamic expansion in the company’s main target market, the US.
Representatives of the startup report early interest from large US companies in the retail and finance sectors.
