Israeli Application Intelligence Platform Bionic Raises $65M
Israeli startup Bionic, secured $65 million in a Series B funding round for its platform helping organizations operate and protect applications, Calcalist reported on Monday.
Global venture capital and private equity firm, Insight Partners, led the round alongside participation from existing investors, Cyberstarts and Battery Ventures.
“We completed this round in less than a week,” Bionic’s CEO, Idan Ninyo, told Calcalist. “We received many excellent offers but selected Insight after understanding that they are the most suitable investors for us.”
This latest round brings the company’s total funding to $83 million, and the new capital will be used to take on additional employees. The company currently employs around 80 total people in its Palo Alto and Tel Aviv offices.
Founded in 2019, Bionic’s application intelligence platform automatically reverses engineers’ applications allowing various enterprises to understand and control the many application changes that get pushed to production on a daily basis. The platform facilitates improved application protections and efficiencies for the security, operations, and IT teams of global financial services and technology companies.