Shai Morag’s secretive cyber startup raises $60 million while still in stealth
After three major exits, including Ermetic’s $265 million sale to Tenable, Morag is back with a new venture, backed by Greylock, Accel, and CRV.
Shai Morag, the Israeli cybersecurity entrepreneur behind three previous exits, has quietly founded a new cyber company that remains in stealth mode.
Full list of Israeli high-tech funding rounds in 2025
According to information obtained by Calcalist, the company has already raised approximately $60 million across two funding rounds, an initial $20 million round, followed by a $40 million round. Both rounds included participation from leading U.S. venture capital firms, with Greylock joining the first round and Accel and CRV participating in the second.
Morag previously served as CEO and co-founder of Ermetic, an Israeli cybersecurity startup that developed CNAPP (Cloud-Native Application Protection Platform) solutions for protecting complex cloud environments. Tenable, an American cybersecurity company, acquired Ermetic in September 2023 for approximately $265 million, including $240 million in cash and $25 million in RSU shares.
Following the acquisition, Morag joined Tenable and went on to become its Chief Product Officer (CPO). After completing his tenure there, he founded his new venture, details of which remain undisclosed.
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Earlier in his career, Morag founded and led Secdo, a cybersecurity company specializing in endpoint detection and response (EDR) solutions, which was acquired by Palo Alto Networks for around $100 million. Before that, he served as CEO of Integrity-Project, a company focused on connectivity, networking, and information security solutions, which was acquired by Mellanox.
A veteran of Israel’s elite intelligence community, Morag served for a decade as an officer in Unit 8200 of the Israel Defense Forces before embarking on his entrepreneurial career.
