We are happy to announce the acquisition of Glilot’s portfolio company, LightCyber, by Palo Alto Networks.
LightCyber is our first portfolio company. Glilot was the only investor in the LightCyber 2011 seed round, which occurred at a time when the Cyber Security challenges were just beginning to capture the attention of the VC community.
LightCyber’s founders, Giora Engel and Michael Mumcuoglu, are top-notch cyber security professionals, sharing the same military intelligence service background as many of Israel’s leading Cyber Security entrepreneurs, including the founder and CTO of Palo Alto Networks, Nir Zuk. It was evident to our partners that only experts like the LightCyber founders would be capable to create an effective solution to detect and defend against the advanced cyber attacks organizations face daily.
Initial market feedback to the 2012 launch of LightCyber’s MAGNA product was largely enthusiastic. Gonen Fink, one of the first employees of Check Point and its former Chief Architect, joined as CEO in 2013 and led the company’s expansion, while Giora moved to the US to launch its Palo Alto based office.
The growth of the company was fueled by additional funds raised in 2014 from Battery Ventures (Itzik Parnafess) and in 2015 from Shlomo Kramer. Itzik Parnafess and Shlomo Kramer also share the same service background of Giora and Michael.
The LightCyber product line, team and global customer base continued to evolve and grow in 2016, and so the offer from Palo Alto Networks did not come as a surprise, as the synergies between the companies was clear. Nir Zuk and Gonen Fink, who know each other from working in the same office at Check Point 20+ years ago, share the passion, enthusiasm and vision necessary to solve the enormously complex contemporary cyber security challenges.
LightCyber is the fifth portfolio company among our first six investments to be acquired in the last three years, and joins Aorato (Microsoft), Blazemeter (CA), Insightera (Marketo) and Porticor (Intuit). Our sixth portfolio company, YouAppi, is expected to exceed $100M annual sales in 2017, so we are confident that this positive trend will continue.
Kudos to Giora, Michael and Gonen – we wish you the best of luck in your new endeavor, and look forward to seeing you tackle your next big challenge.