YL Ventures secures $120 million to fund Israeli cybersecurity startups
Silicon Valley venture capital firm YL Ventures is announcing a new cybersecurity-only fund for seed-stage Israeli startups. The firm said it had confirmed $120 million in committed capital for its fourth fund, with plans to invest in no more than 10 cybersecurity companies.
Touting its investment record, YL Ventures said its venture advisory board includes a bevy of cybersecurity executives from multinational companies, including Adam Ely, VP and deputy CISO at Walmart; Netflix's director of security Brooks Evans; Kurt Lieber, the CEO and founder of CrowdStrike; David Hannigan, head of security for Spotify; and Sherry Ryan, CISO for Juniper Networks.
"There is a lot of noise in the security market these days," said Walmart's Adam Ely. "For me, YL Ventures is a signal amidst all that noise, with a highly differentiated view into the Israeli cybersecurity market. The teams that I meet through the YL Ventures network are of the highest quality and help me both address my problems of today and keep an eye on what might be around the corner."
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The current YLV portfolio includes Karamba Security, Axonius, Medigate, Vulcan Cyber, Hunters.ai, and most recently, Orca Security, makers of full-stack cloud security visibility software. Overall, YL Ventures manages $260 million in venture capital.