Israeli Cybersecurity Firm Cyberbit Raises $30M

June 5, 2018 | Israeli cybersecurity company Cyberbit, a subsidiary of defense contractor Elbit Systems, announced Monday it has raised $30 million in a funding round. The financing comes from private equity investment firm Claridge Israel, which represents Canadian investor Stephen Bronfman. The company says it will use the new funds to expand sales and marketing operations, mainly in North America, as well as improve development and enhance customer and partner support. Cyberbit has developed Cyberbit Range, a cyber training and simulation solution through a threat detection and response platform that protects a company’s attack surface across IT, OT, and IoT networks. Cyberbit was founded in March 2015 as a subsidiary of Elbit. Elbit also launched a Cyberbit sister company, which absorbed the cyber intelligence division of Israel-based business solutions firm NICE System, acquired by Elbit for more than $157 million in 2015.