The Israeli cybersecurity industry raised a record-setting $8.8 billion in 2021, triple the amount raised the year before, the Israel National Cyber Directorate reported on Wednesday. The money was raised in more than 100 deals.
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In addition, Israel set a record for overall cyber exports and in the number of companies entering the billion-dollar "unicorn" club. According to the data, one in three cybersecurity unicorns in the world is an Israeli company.
"The Israeli cyber industry … showed that it was not only an economic growth engine in Israel of the highest order, but also a pillar of the global cybersecurity innovation ecosystem," said INCD Economy and Growth director Roi Yarom.
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The cybersecurity industry has been growing internationally and is expected to continue to climb over the next decade, reaching as high as $366.10 billion by 2028, according to a report by Fortune Business Insights.
Reprinted with permission from JNS.org.
