Stage Fund Acquires Cymmetria

Denver, Colorado-based private equity firm Stage Fund has agreed to acquire Israeli cyber deception company Cymmetria Inc., one person familiar with the deal told Calcalist on condition of anonymity. That person did not disclose the financial terms of the deal, saying only that it is valued at “a few tens of millions of dollars.”

Cymmetria’s technology creates decoy servers that simulate the real IT infrastructure in organizations to lure hackers and monitor their actions in a controlled environment. The company was founded in 2014 by Israeli entrepreneur Gadi Evron and is based in Palo Alto, California and Tel Aviv. Following the acquisition, Cymmetria’s research and development operation is expected to remain in Tel Aviv, that person said.

Cymmetria has raised $11 million to date, according to Pitchbook data, from investors such as Sherpa Ventures and Y Combinator.