Cyberbit receives $30 Million Investment from Claridge Israel

Cyberbit, a subsidiary of Elbit Systems, has announced a US$30-million investment from Claridge Israel, to accelerate growth, and accommodate the rising demand for its Cyberbit range product and its entire security portfolio. Cyberbit will expand sales and marketing, primarily in North America, boost product development, and enhance customer and partner support with this funding. Oded Tal, Managing Partner of Claridge Israel, will join Cyberbit’s board of directors.

Cyberbit has pioneered the approach of using hyper-realistic simulation to train and assess cybersecurity experts. This approach is now widely adopted by the industry as a means to cope with the ever-growing global cybersecurity skill shortage. This shortage is predicted to exceed 3.5 million job openings by 2021, according to Cybersecurity Ventures and is amplified by increased workload and complex, time-sensitive threats. In addition to the cyber range, Cyberbit offers Security Orchestration, Automation and Response (SOAR), Industrial Control Systems (ICS) security, and Endpoint Detection and Response (EDR).

Bezhalel Machlis, President & CEO, Elbit Systems, commented, “Elbit Systems sees the cybersecurity field as a growth engine. We are encouraged by the technological and business achievements of Cyberbit in recent years. I am confident that the partnership with Claridge Israel will lead Cyberbit to even greater achievements.”

Rami Hadar, Managing Director, Claridge Israel, said, “Cyberbit’s growth is driven by a unique product portfolio that addresses several of the most pressing industry problems, a solid go-to-market strategy and a highly capable team that is executing successfully and creating a leadership position in several markets. Claridge Israel is proud to partner with a reputable, leading organization such as Elbit Systems, and we look forward to working alongside Cyberbit’s management team to support the company’s next growth phase.”

“We are happy to welcome Claridge as an investor and a strategic partner in this exciting journey,” said Adi Dar, CEO, Cyberbit. “We are witnessing an increasing demand for our offerings and this substantial backing will allow us to scale our operation, maintain our position as an industry leader and accelerate our growth. First and foremost, we will continue to focus on providing our customers with the best possible products and support.”