Cyberstarts is an early-stage venture capital fund that focuses on cybersecurity startups. The firm’s investment philosophy of focusing on a small number of companies each year, allows for a high degree of involvement and support as these companies prepare to go-to-market. The firm works closely with founders from the early stages of company formation through product development and initial market engagement.

A central component of the firm’s operating model is an internal framework designed to help startups identify significant market gaps and build products that address those challenges, called the Sunrise Program. With a deep network of industry leaders, facilitating access to industry Cyberstarts provides feedback, mentorship, and industry insight during the foundational product development phase.

Cyberstarts’ portfolio includes a number of companies which have gone on to raise significant follow-on funding and, in several cases, have reached unicorn valuations. To date, the firm has raised over $720 million across five funds.

Brief History

Cyberstarts was founded in 2018 by former cybersecurity entrepreneur and long-time startup investor, Gili Raanan, with the goal of supporting early-stage founders developing cybersecurity solutions. The firm was established with the belief that the most impactful decisions in a startup’s lifecycle are often made in the earliest stages—before a product is launched.

The fund’s origins are closely tied to the Israeli cybersecurity ecosystem, which has produced a number of successful startups and is known for its talent pipeline from elite military intelligence units. Cyberstarts has leveraged this ecosystem by working with founders emerging from these backgrounds and connecting them with experienced operators and advisors.

A distinguishing feature of Cyberstarts is its extensive CISO network, which includes some of the most prominent figures in cybersecurity leadership. Alongside the small and highly-experience Cyberstarts investing team, this network plays an important role in mentoring and advising Cyberstarts’s portfolio companies, often from the seed stage through scale-up.

Since its inception, Cyberstarts has raised over $720 million and built a portfolio that includes several companies with significant market traction. While it operates primarily from Israel, its portfolio companies and advisor network have a global presence.

Location

Cyberstarts is headquartered in Tel Aviv, Israel, a hub for cybersecurity innovation and talent. While the firm operates from this base, its reach is global—supporting startups and engaging with cybersecurity professionals across North America, Europe, and Asia.

Remarkable Investments

Wiz – Cloud Security Platform: Cyberstarts led Wiz’s seed round in 2020. The company rapidly scaled, achieving $100 million in annual recurring revenue within 18 months. In March 2025, Google announced its intention to acquire Wiz for $32 billion in cash, marking the largest private technology company exit to date.

Cyera – AI-powered data security platform: Cyberstarts led Cyera’s seed round in 2021. The company has since experienced rapid growth, raising a $549 million Series E in June 2025 at a $6 billion valuation.

Fireblocks – platform for securing digital assets: Cyberstarts participated in the seed round of Fireblocks in 2018. The company has experienced rapid growth and is currently valued at more than $8 billion.

Island – enterprise browser designed for enhanced security: Cyberstarts invested in Island in 2020. In 2023, Island raised $100 million in a Series C funding round, bringing its valuation to $1.5 billion.

Upwind – leader in cloud infrastructure optimization: Cyberstarts invested in Upwind and in 2024, the company secured $100 million in funding at a valuation of approximately $900 million.

Transmit Security – Identity and access management solutions
An early investor in Transmit Security, supporting its mission to streamline identity authentication and eliminate passwords. The company has since grown into a prominent player in the identity space, raising one of the largest Series A rounds in cybersecurity history—$543 million in 2021—at a valuation of $2.2 billion.

Armis – cyber exposure management & security company: One of the earliest investments of Cyberstarts, Armis was acquired by Insight Partners in 2020 at a valuation of $1.1 billion in the largest cybersecurity deal in Israel at the time. The company has continued its growth trajectory, raising $200 million in 2024 at a $4.3 billion valuation and is preparing for a potential IPO.

Cyberstarts In The News

As an influential player within the cybersecurity sector with a number of significant, fast growing portfolio companies, Cyberstarts receives significant amounts of coverage.

In March 2025, C-Tech published an article regarding the 200x return on portfolio company, Wiz’s sale to Google. The article featured a number of VC’s of which early investor Cyberstarts were one, along with founder Gili Raanan, recognizing the firm for its pivotal role in cybersecurity investments

Gili Raanan shared his unique approach to early-stage cybersecurity investing on a May 2025 episode of Invest Like the Best He discusses the Sunrise methodology, why founder resilience matters more than credentials, and how shifts in AI and global security shape the industry. The interview offers a rare look into the mindset behind some of the most successful cybersecurity startups.

A feature was written on Raanan and Cyberstarts in the October 21 2024 edition of Fortune magazine, following the firm’s announcement of the closing of its fourth seed fund, which raised $60 million. This brought the firm’s total assets under management to $720 million.

National daily newspaper, the Times of Israel featured both Cyberstarts and Raanan on July 22, 2024 announcing news of Linx Security. The startup focused on identity threat detection emerged from stealth with $33 million in funding. Led by Cyberstarts, the seed round included participation from Wiz founders and other notable investors. The article noted that Gili Raanan’s involvement underscored his commitment to nurturing early-stage cybersecurity ventures.

In July 2025, Cyberstarts launched a $300 million employee liquidity fund to support its portfolio companies in attracting top cybersecurity talent and fostering long-term commitment. The initiative offers structured, recurring secondary windows that allow employees to sell a portion of their vested shares without leaving their company—furthering Cyberstarts’ mission to help founders build strong, enduring teams as their startups scale.