Palo Alto Networks Pays $560 Million for Information Security Automation Firm Demisto
Israel-based Demisto develops and markets automation tools for information security management; Calcalist first reported Palo Alto was negotiating for the acquisition earlier this month
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Headquartered in Cupertino, California, Demisto develops and markets automation tools for information security management, including a chatbot that assists security analysts with various tasks.
Demisto was founded in 2015 by four former McAfee executives—Dan Sarel, Slavik Markovich, Guy Rinat, and Rishi Bhargava. In October, Demisto completed a $43 million series C funding round led by Greylock Partners, bringing its total equity funding to $69 million. The company has also received backing from Accel Partners, ClearSky Security, Slack Technologies, Wipro Ventures, Secure Octane, and Cerca Partners.
Founded by Israel-born entrepreneur Nir Zuk, formerly an executive at Check Point Software Technologies Ltd., Palo Alto acquired three Israeli companies to date: Cyvera Ltd. in 2014, Lightcyber Ltd in 2017, and Cyber Secdo Ltd., also known as Secdo, in 2018. The company reported $656 million in total revenues for the first fiscal quarter of 2019.