CyberTech dominates seed deals in Israel 2022


• Overall, there were 19 FinTech seed deals in Israel during the first half of 2022 with 79% of them completed by companies offering CyberTech services. Based on seed deal activity in the first half of 2022 estimated total number of seed deals in the country in 2022 is expected to reach 38, a 52% increase from 2021 levels.
Jit, a platform that enables development teams to embrace the Minimal Viable Security (MVS) approach, was the largest FinTech seed deal in the first half of 2022 raising a large $38.5m in their seed round led by Boldstart Ventures. The company plans to use the funds to expand operations and its development efforts. David Melamed, CTO said “Jit streamlines technical security for engineering teams versus the practice of compliance checkboxes – all while reducing spend.”
• In May 2022 Israel’s Communications Ministry and National Cyber Directorate launched new cyber security standards to bolster digital defences and the new rules requires all telecommunications companies to implement a cybersecurity program. This program sets out a list of requirements that includes installing monitoring and control systems whilst also making boards of directors responsible for the completion. Penalties were not established in the press release.

The data for this research was taken from the FinTech Global database. More in-depth data and analytics on investments and companies across all FinTech sectors and regions around the world are available to subscribers of FinTech Global. ©2022 FinTech Global

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