KELA Group receives $50M in private equity

The KELA Group, a cyber intelligence software provider based in Tel Aviv, has received $50 million in private equity from San Francisco-based Vector Capital.

“We are delighted to partner with Vector Capital as we continue our successful expansion around the world,” said Nir Barak, CEO and cofounder of KELA. “We are proud of the technology, solutions, and especially the talented team we’ve built over the past 9 years. Our targeted intelligence technology creates a rapid and measurable improvement of our customer’s IT security – leading to, in some cases, reductions of over 80% in fraud-related revenue losses driven by our platform. We look forward to working with Vector’s team and to helping protect more clients around the world from cyber threats with our unique capabilities.”

This investment is the first institutional funding KELA has received. The company was founded in 2009 by Israeli intelligence veterans from Unit 8200 and its associated R&D units, and uses advanced algorithms, data science, and intelligence expertise to provide targeted and automated dark web monitoring and cybersecurity solutions.

The company, which already operates in the US, Canada, Europe, Asia and the Middle East, intends to use the funds to expand in North America.

“We are proud to partner with KELA as the company prepares to enter its second decade of success,” said Matt Blodgett, Managing Director of Vector Capital, who has joined KELA’s board of directors. “We see tremendous potential for enterprise and government security and fraud prevention teams to utilize KELA’s unique software and intelligence expertise to better identify and protect themselves from cyber threats, and look forward to introducing the company’s specialized products to customers and partners across North America.”

Researcher, writer, recovering medievalist. Currently particularly interested in the cybersecurity solutions market, cyber insurance/risk modelling, and IoT security.

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