Bitsight acquires Cybersixgill in $115 million deal to strengthen cyber risk management

Cyber risk management company Bitsight is acquiring Israeli cyber threat intelligence (CTI) data startup Cybersixgill in a deal valued at approximately $115 million.

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Cybersixgill raised $35 million in Series B funding in March 2022, led by More Provident and Pension Funds and REV Venture Partners. Additional investors included CrowdStrike’s Falcon Fund, Elron Ventures, SonaeIM, and OurCrowd. That round brought the company’s total funding to $56 million. Elron, the first fund to invest in Cybersixgill, will receive approximately $22 million from the exit.

Sharon Wagner.

Sharon Wagner, CEO of Cybersixgill, is celebrating his second exit. In 2017, he sold Cloudyn, another Elron-backed startup, to Microsoft.

Cybersixgill currently employs about 80 people, with 65 based in Israel. All employees will transition to Bitsight.

Cybersixgill specializes in covertly extracting real-time data from diverse sources, including deep and dark web forums, invite-only messaging groups, online markets, code repositories, paste sites, and clear web platforms. Its latest product, Cybersixgill IQ, leverages generative AI to transform its extensive collection of CTI data into user-friendly insights, analysis, reports, and 24/7 assistance.

"We’ve long admired Bitsight’s vision and leadership in helping organizations manage cyber exposure and understand risks in their supply chains,” said Sharon Wagner, CEO of Cybersixgill. “By joining forces with Bitsight, we’ll be able to enhance and expand the reach of our threat intelligence solutions. This partnership gives our customers access to an even more comprehensive set of cyber risk analytics, including Bitsight’s rich vendor risk insights. With increased investment and innovation, we’ll continue pushing the boundaries of what’s possible in the evolving world of cyber defense.”