What Cyberstarts does

Cyberstarts is an early-stage venture capital firm founded in 2018 by Gili Raanan that specializes exclusively in cybersecurity investments, typically partnering with founders at the concept or seed stage before products exist. The firm is domiciled in Israel (Cyberstarts Venture Fund Ltd.) with operational headquarters in Tel Aviv and a secondary presence in Miami, and operates multiple investment vehicles totaling over $720 million raised across 5 funds, with assets under management cited at approximately $1.5 billion. The firm has made 28 portfolio investments and produced 9 exits, including Wiz's $32 billion acquisition by Google in March 2026 and exits to Akamai ($500M, Noname) and Hewlett-Packard Enterprise ($500M, Axis Security); its portfolio now accounts for more than 50% of worldwide private cybersecurity market capitalization, with 5 unicorns (Wiz, Cyera, Island, Fireblocks, Upwind).

The firm's core differentiator is its Sunrise validation methodology and a CISO Advisory Network of more than 60 global security leaders, which provides portfolio companies with pre-product market validation, enterprise feedback loops, and go-to-market acceleration rather than capital alone. Beyond its primary seed and follow-on funds, Cyberstarts has expanded its offering with a $300 million Employee Liquidity Fund (July 2025) to provide structured secondary liquidity for portfolio employees, and a $380 million Opportunity Fund II (October 2025) for follow-on participation in later-stage rounds. The team of approximately 8 senior professionals — including general partners Lior Simon, Hila Zigman, and Dor Knafo, and operating partners with backgrounds as CISOs at Paramount, WarnerMedia, and The New York Times — operates a highly concentrated, founder-led model where former portfolio CEOs are recycled back into the GP bench (Knafo from Axis, Zigman from Noname), reinforcing a self-perpetuating ecosystem of operators-turned-investors.

Name

Cyberstarts

Legal name

Cyberstarts Venture Fund Ltd.

Website

https://cyberstarts.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Short description

Cyberstarts is a Tel Aviv-based early-stage venture capital firm founded in 2018 that invests exclusively in cybersecurity startups from inception, managing over $1.5 billion across five funds and serving cybersecurity founders with capital, CISO network validation, and follow-on funding.

Ownership category

akta.pro rank

Product category

Cybersecurity Venture Capital

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Finance Services (6199)

akta.pro primary industry

Micro-VC & Angel Funds (FSANAAAI)

Keywords

• Cybersecurity venture capital
• Seed stage investing
• Early stage investments
• Venture capital firm
• Startup funding

Headquarters

HQ city

Mikhmoret

HQ country

Israel

HQ region

Middle East

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Venture Capital Returns: Cyberstarts generates returns through equity investments in early-stage cybersecurity companies. Returns are realized through portfolio company exits via acquisitions (e.g., Wiz acquired by Google for $32B, Dazz acquired by Wiz for $450M) and IPOs. The firm has achieved 200x return on Wiz investment ($6.4M seed investment).

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Cyberstarts is an early-stage venture capital firm that invests in cybersecurity startups from inception (Day 1 / seed stage), providing capital alongside operational support, market validation through its CISO Network of 60+ enterprise security leaders, and the systematic Sunrise validation program. The firm manages multiple funds including seed funds, an Opportunity Fund II of $380 million, and a $300 million Employee Liquidity Fund, with portfolio spanning cloud security, data security, identity management, API security, and AI security.

Product overview

Cyberstarts is an early-stage venture capital firm founded in 2018 by Gili Raanan, serving as the day one partner for industry-defining cybersecurity companies. The firm operates multiple investment funds totaling over $720 million across 5 funds, with a combined portfolio valuation of approximately $65 billion. Cyberstarts provides portfolio companies with access to its CISO Network for feedback and market validation, the Sunrise Program for systematic founder development, and an Employee Liquidity Fund for talent retention. The firm has achieved 9 exits including Wiz's $32 billion acquisition by Google, 5 unicorns, and 2 decacorns. The portfolio spans diverse cybersecurity domains including cloud security, data security, identity management, API security, and emerging AI security categories.

Differentiator

Problem solved

Functional benefit

Brands

• Cyberstarts Employee Liquidity Fund: A $300 million fund launched to provide liquidity options for employees of Cyberstarts portfolio companies.
• Cyberstarts Opportunity Fund II

Products and services

• Cyberstarts Venture Fund Early-stage venture capital fund that invests in cybersecurity companies from their inception, providing capital, mentorship, and strategic guidance to help founders build industry-defining companies.
• Sunrise Program A systematic, real-world validation loop that helps exceptional cybersecurity founders become sharper, faster, and better prepared to build lasting companies by leveraging the CISO network for feedback.
• CISO Network A structured engagement between portfolio founders and a network of 60+ global CISOs that helps early-stage cybersecurity companies build credibility, establish trust with enterprise security leaders, and form meaningful relationships.
• Employee Liquidity Fund A $300 million industry-first initiative designed to give portfolio company employees a predictable, structured way to access liquidity while remaining engaged in the company's long-term mission.
• Opportunity Fund II A $380 million Opportunity Fund for supporting proven cybersecurity startups with successful investments including Wiz, Fireblocks, Island, and Cyera reaching billion-dollar valuations.

Quantifiable outcome

• 200x return on Wiz investment ($6.4M → $1.3B valuation)
• +3 more outcomes

Named customers5 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• YL Ventures: Israel/US-based seed-stage venture capital firm exclusively focused on cybersecurity. Directly comparable to Cyberstarts in vertical focus (cybersecurity only), stage (seed), geography (Israeli sourcing), and fund size, making it the closest head-to-head competitor for Israeli cybersecurity seed deals.
• Team8: Israel-based cybersecurity venture builder and investor that builds and invests in cybersecurity startups. Comparable to Cyberstarts in cybersecurity-only thesis, Israeli origin, and operator-led company creation model, though Team8 leans more toward building companies in-house.
• Ballistic Ventures: US-based cybersecurity-focused early-stage venture capital firm founded by former FireEye/Mandiant executives. Comparable to Cyberstarts in vertical specialization (cybersecurity-only) and early-stage focus, though sourced primarily from US security operators rather than Israeli Unit 8200 alumni.
• Evolution Equity Partners: Cybersecurity-focused growth and early-stage venture capital firm. Directly comparable to Cyberstarts through repeated co-investment in portfolio companies (Cyera, NewCore) and shared cybersecurity-only thesis, though Evolution Equity typically participates at Series A and beyond rather than leading seed rounds.
• Ten Eleven Ventures: Cybersecurity-only venture capital firm investing across stages from seed to growth. Comparable vertical specialization and security-operator network to Cyberstarts, making it a direct competitor for cybersecurity seed allocations in the US and Europe.
• Forgepoint Capital: Cybersecurity-focused venture capital firm investing in early- and growth-stage companies. Comparable to Cyberstarts in cybersecurity-only mandate, sector specialization, and B2B enterprise security focus, with overlapping deal flow in cloud and application security.
• NightDragon: Cybersecurity, safety, security, and privacy-focused venture capital firm investing across stages. Comparable vertical focus and advisory network approach (NightDragon's ND Advisory Council of CISOs parallels Cyberstarts' CISO Network) to Cyberstarts' model.
• Notable Capital: Venture capital firm with a strong cybersecurity and enterprise software focus across stages. Comparable to Cyberstarts through repeated cybersecurity-only thesis and similar mid-to-late-stage co-investment activity, though Notable Capital typically enters at Series A and later.

Broad incumbents

• Bessemer Venture Partners: Large multi-stage venture capital firm with a dedicated cybersecurity practice that has co-led Cyberstarts rounds (Upwind Series B). Comparable as a co-investor in cybersecurity portfolio companies (Wiz-adjacent deals), though BVP's broader mandate spans consumer, healthcare, and fintech beyond cyber.
• Accel: Large multi-stage venture capital firm and frequent co-investor with Cyberstarts in companies like Cyera, Vega, Oasis Security, and Surf AI. Comparable as a partner in high-profile cybersecurity rounds, though Accel invests broadly across enterprise software, consumer, and fintech.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@cyberstarts-vc
• LinkedInlinkedin.com/company/28614764
• Xx.com/giliraanan

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments75 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cyberstarts