Axonius co-founders.

March 2024 in Israeli tech funding: $822 million in 20 deals

Israeli startups raised in March more than January and February combined, including four rounds of at least $100 million

Over $822 million were raised by Israeli startups across 20 deals during March. This is a 45% increase compared to the $566 million raised by startups in March 2023. It is also more than the amount raised by startups in January and February combined.
The main reason for the increase was the four mega-rounds ($100 million or more) that were announced during March.
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מייסדי Axonius
מייסדי Axonius
Axonius co-founders.
(Photo: Axonius)
Axonius led the way with a $200 million Series E, while Claroty, FundGuard and Coro all each raised $100 million.
While the first two months of the year were dominated by early-stage funding rounds, with 23 of 33 rounds being either Series A or Seed rounds, March saw the return of growth rounds with five deals being a Series C or later.
See the full list of the March deals below (The list includes funding rounds of over $5 million that were officially announced during March):
Nominal’s platform uses generative AI and cloud technology to bridge the gap between legacy ERP (enterprise resource planning) systems and standard spreadsheets for accounting and financial management in mid-market businesses
The Israeli startup, which took its total funding in the past 24 months to $255 million, offers an enterprise-grade security software platform to SMEs covering endpoint protection, email and user protection and network and cloud protection
Zafran, founded in 2022 by Yashar (CEO), Ben Seri (CTO) and Snir Havdala (CPO), develops a risk and mitigation platform to pinpoint the ‘exploitable’ threats in the organization and to mitigate their risk by mobilizing existing security controls
The Israeli startup’s platform helps asset managers and their service providers to manage mutual funds, ETFs, hedge funds, insurance products, and pension funds, supporting digital transformation, operations automation, AI-based insights, resiliency, and migration to the cloud
The Israeli startup, which raised funding from Viola and Google's AI-focused fund Gradient, helps data and analytics teams to confidently push continuous code changes, safeguarding against frequent issues and harmful incidents that affect critical data
The Israeli startup, which develops solutions for data security and compliance for the public and private cloud, recently introduced new data hygiene capabilities for the generative AI data pipeline
The Israeli startup’s efficient AI-centric system architecture enables companies to run generative AI applications and large language models (LLMs) without overinvesting in scarce and underutilized GPUs
“Our mission is clear – to untangle the toughest knots for data teams and give peace of mind to organizations with their data governance. No matter how fast the company scales,” said CEO Sarah Levy
The Israeli startup’s platform for managing multiple edge platforms ensures that users get the fastest, most cost-effective content served automatically by the optimal edge locations
In the past three years, Empathy has made a full range of assistance with grief, estate settlement, probate and more available to 5 million employees and 35 million policyholders across the US
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IO River founders
IO River founders
IO River founders.
(Omer Hacohen)
The Israeli startup’s AI-driven recommendation engine matches employees with the precise health services they need from thousands of options available in the platform
Sweet Security leverages deep runtime analysis to identify and address cloud risks
The Israeli company, which raised the money through a combination of equity and credit, took its total funding to date to $635 million
"Axonius has gone from zero revenue to exceeding $100 million in ARR in just 4.5 years, making us one of the fastest growing cybersecurity companies,” said Dean Sysman, CEO of Axonius
The Israeli startup’s platform allows institutions and developers to manage their digital assets with its non-custodial, secure, and chain-agnostic wallet
The startup's platform offers individualized, immediate, and straightforward responses to inquiries about coverage, treatment, and benefits, as well as complete assistance throughout the Open Enrollment process