This past week, more than 30,000 cyber and information security executives, entrepreneurs, and investors from around the world descended upon San Francisco for the RSA Security Conference. Over the last decade, the RSA conference has become the central meeting point for the cyber security industry’s top innovators – a place where leading corporations can tap into cutting edge solutions being developed by emerging businesses, which, through either partnership or acquisition, will become the next generation of security products and services. At the same time as the RSA conference has risen in prominence, so too has Israel’s cyber security industry. It is estimated that the 250+ cyber companies in Israel account for approximately 10% of the global $100 billion a year information security market. Israeli companies like CheckPoint (NASDAQ: CHKP) and CyberArk (NASDAQ: CYBR) have become household names, while fast paced start-ups like BioCatch, Adallom, Hybrid Security, LightCyber, SkyCure, Cybereason and others have been earmarked by the Microsoft’s and Google’s of the world as ‘innovation to watch’.
At this year’s RSA conference, JANVEST Managing Partner, Brian Rosenzweig, accompanied the firm’s two attending portfolio companies, BioCatch and Hybrid Security, as they highlighted their innovation at the Israeli cyber security showcase, as well as at the Israel Pavilion sponsored by Israel’s Economic Mission to the U.S. While there were no shortage of security start-ups to visit at the conference, it became clear from multiple conversations with industry leading security companies that Israeli solutions were some of, if not the most highly sought after in the market. Veterans from the Israeli military’s elite cyber warfare and intelligence gathering units stood next to their start-up booths at RSA being courted by representatives from companies like Sony, Citi, Verizon, and others. As the lines at each Israeli booth started to grow, so too were executives en masse approaching the Israeli pavilion asking for specific start-ups and entrepreneurs by name. At one point, the Director of Cyber Security for one of the largest insurance companies in the U.S. asked whether there was still an investment round for one of the Israeli start-ups in which he could individually invest.
After a few days at the conference, sitting in on meetings between our portfolio companies and Fortune 500 security executives, it became very clear that Israel’s cyber security industry was seen as premium and producing best-in-class technologies that could not be found elsewhere.
JANVEST is proud of our cyber portfolio companies for their work at RSA and we commend all of the other Israeli security start-ups for their hard work and dedication to make Israel the go-to destination for information security innovation.