Rapid 7 acquires Israeli cyber startup Alcide.IO for $50 million
This is the first acquisition of an Israeli company by the U.S.-based and Nasdaq-traded Rapid 7
Meir Orbach | 12:25 31.01.2021
U.S.-based cyber company Rapid 7 is acquiring Israeli startup Alcide.IO Ltd for $50 million., according to a stock market announcement filed by Alcide backer Elron Electronic Industries. To date, the Tel Aviv-headquartered company has raised $12 million from the likes of Intel Capital, Elron, and CE Ventures. As part of the agreement, Alcide, which employs 30 people, will function as Rapid 7’s Israeli development center. Rapid 7 is traded on Nasdaq at a valuation of $4.5 billion. It employs 1,250 people and reported Q4 2020 revenues of $105 million. This is its first acquisition of an Israeli company. Alcide developed a cloud security platform designed to provide DevOps, security, and engineering teams with simplified tools to manage and protect data centers against cyber attacks. Alcide’s firewall enables security teams to define, apply, and enforce their data protection policies on various cloud services in order to achieve continuous monitoring and risk assessment. It was founded in 2016 by Gadi Naor (CTO) and Ranny Nachmias, currently the Managing Director of Intel Ignite. Serial entrepreneur Amir Aharoni joined in 2018 and is the Chairman of the board. Amir Ofek, the former CEO of Cyberint, has been the company’s CEO for the past year and a half and led the acquisition.