Talon Cyber Security closed a $26 million seed round led by leading American fund Lightspeed Venture Partners, as well as Team8 Capital, the investment arm of Team8, serial entrepreneur Zohar Zisapel, and leading cyber angel investors. The company will use the investment to continue development of its technology and expand its development staff in Israel. According to the Crunchbase Pro database, the seed round was the largest ever in Israel's high-tech sector.
Talon provides the first solution of its kind for various companies with the market for cyber solutions to support distributed work expected to reach $42 billion by 2026. "Talon is solving a major problem created by recent changes in the workforce model," said David Gussarsky, partner at Lightspeed Venture Partners. "The need for one comprehensive solution to enable workforce flexibility, without compromising security, has created a whole new market and a unique opportunity to become a game-changer in the cyber security industry."
"Accelerated digitization is impacting the way enterprises operate. I hear from hundreds of organizations, across all industries, which are struggling to find the right balance between encouraging productivity and creativity among a distributed workforce while maintaining cyber defenses," said Nadav Zafrir, co-founder and managing partner at Team8. "I am confident that Talon’s leadership team will deliver a ground-breaking solution for today’s unique cyber risk challenges."
"The distributed workforce presents a host of new cybersecurity challenges and exposes both large and small organizations to new types of threats that can’t be solved using existing solutions. This unique challenge and opportunity led Ohad and me to embark on this exciting journey. said CEO Ben-Noon. "Talon is entering the market to provide organizations with maximum flexibility, productivity and visibility while protecting them against cyber attacks that are becoming more and more sophisticated."