Cyber Firm Co-Founded By Former Israeli PM Raises $12.5M

July 16, 2018 | Israeli cybersecurity firm Toka, a company co-founded by prominent Israeli figures including former Israeli prime minister Ehud Barak, has announced it has raised $12.5 million in a seed round from investors that include Andreessen Horowitz, Entrée Capital, Dell Technologies Capital, Launch Capital, and Ray Rothrock, CEO of cyber analytics firm RedSeal.

The Tel Aviv-based company, which is coming out of stealth mode to make this announcement, has co-founders that include retired Brig. Gen. Yaron Rosen, former chief of Israel Defense Forces cyber staff; Alon Kantor, former vice president of business development for Check Point; Kfir Waldman, former CEO of cyber and mobile companies Kayhut and Go Arc; and Barak, who served as PM  from 1999 to 2001.

According to VentureBeat, Toka’s technology will help government agencies “transform their cyber defenses” in order to keep citizens, law enforcement and security agencies, and government institutions safe.

“Our Cyber Designer Team will help nations develop the strategic capabilities, an operational approach, and an ecosystem of software products tailored for them. And if there isn’t a product on the market that meets our client’s needs, we will build it with our R&D team — Toka Cyber Labs,” Rosen said in a statement.

The company, which will create spy tools and software for clients to help fight national security threats, is heavily focused on IoT devices, like Amazon Echo, Alexa smart alarms and more.

“The proliferation of connected devices and the rise of IoT have transformed the digital and security landscape, creating new threats, as well as opportunities for those entrusted with keeping their people safe. Governmental, law enforcement, and security agencies are in the process of adapting to this new cyber era, creating a huge market need. The team at Toka has unparalleled experience at the highest levels of cybersecurity, and with their technical and strategic know-how, combined with this investment, they can fill this need and build a great business,” said Yair Snir, managing director at Dell Technologies Capital.

According to Semico Research & Consulting Group, the number of IoT devices in the world are set to exceed 35 billion units by the end of the year, US business magazine Forbes reports.