Summary:
$1 billion raised by Israeli startups across 26 deals in October 2024.
Three mega-rounds exceeding $100 million by Armis, Melio, and DoorLoop.
Double the amount raised compared to October 2023.
Armis aims for a $500M ARR milestone with new funding.
Melio reports a tenfold revenue increase since its last raise three years ago.
Israeli Tech Startups Bounce Back in October
Israeli startups experienced a remarkable resurgence last month, raising around $1 billion across 26 deals. This recovery comes after two consecutive months where local companies struggled to reach $500 million in funding. Notably, three companies completed mega-rounds exceeding $100 million: Armis at $200M, Melio at $150M, and DoorLoop at $100M.
October marked the highest number of deals announced this year, second only to July. The total raised was double that of October 2023, despite the month being punctuated by Jewish holidays.
Highlights of the October Deals
- The list below includes funding rounds exceeding $5 million announced in October:
- Armis: A cybersecurity leader securing new funding aimed at a $500M ARR milestone.
- Melio: A fintech company reporting a tenfold revenue increase since its last funding round three years ago.
- DoorLoop: An automated property management platform competing with major U.S. firms like Yardi and RealPage.
- Obligo: Offers a security deposit alternative using bank-issued Letters of Credit supported by Wells Fargo.
- Matia: Streamlining data management through unified ingestion and observability.
Tech Innovations from Israeli Startups
- Many startups are focusing on AI-driven solutions:
- One startup provides end-to-end AI discovery and compliance.
- Another enhances AI model efficiency, offering faster training and real-time inference.
- A cybersecurity firm is developing solutions for LLM-based product visibility and auto-correction.
- In healthcare, one company has created a cloud-native data recovery system and another connects travelers with a network of over 20,000 doctors worldwide.
These advancements highlight the vibrant tech ecosystem in Israel, showcasing the resilience and innovative spirit of its startups amidst global challenges.
Comments