Israeli cybersecurity sector sees surge exceeding $7 billion in exit deals in 2023

Israel's cybersecurity sector saw exit deals soaring to $7.1 billion in 2023, marking a 65 per cent increase from previous year, as per a report.

se figures underscored pivotal role of cybersecurity within Israel's high-tech industry, constituting over half of total tech sector exit deals for year.

While total tech sector exits experienced a slight decline to $11 billion in 2023 from $13.5 billion in 2022, cybersecurity segment showed robust resilience and expansion. 

Cyber accounted for merely $2.5 billion of total exits in 2022, indicating a remarkable surge within a year.

Israel's high-tech sector remains a cornerstone of its ecomy, contributing significantly to employment, exports, tax revenue, and overall ecomic output. 

country's 522 cybersecurity firms, many stemming from military backgrounds, have boosted Israel’s position as a global cybersecurity leader.

report underscored a table increase in exits during first quarter of 2024, with 8 exits totaling $1 billion, furr affirming ongoing growth trajectory of cybersecurity sector. 

Amir Rapaport, founder of Cybertech highlighted resilience of cyber firms, attributing ir success to continuous invation despite challenging security landscapes.

Investor interest in Israeli cyber companies continues to be strong, particularly amidst escalating global cyber threats. 

Even as challenges such as a global ecomic slowdown and regional tensions arose, cybersecurity sector still attract substantial investments-fostering emergence of new startups addressing evolving threats.

In contrast to broader tech sector, which faced funding declines in 2023, Israeli cybersecurity companies experienced a table increase in funding during first quarter of year. 

Funding rounds totaling $620 million accounted for 38 per cent of total tech funding raised, furr highlighting sector's prominence and growth potential.

(With Reuters Inputs)