American cybersecurity company Bitsight has acquired Israeli threat intelligence firm Cybersixgill in a deal valued at approximately $130 million. Elron Ventures, a major investor in Cybersixgill, is expected to receive around $22 million from the transaction.

Founded in 2014 by Avi Kashtan and Elad Lavi, with Sharon Wagner as CEO, Cybersixgill specializes in automated cyber threat intelligence collection. The company’s platform scans closed online forums and social media to identify and profile potential cyber threats. By 2023, Cybersixgill had raised about $50 million in funding, including a $35 million round led by pension and provident funds along with the REV Fund. Elron held a 23% stake in the company after investing $12 million.

Despite reaching revenues in the tens of millions, Cybersixgill had faced challenges, including a workforce reduction in May 2023 after the loss of a key client. Today, it employs around 80 people, with 65 based in Israel. This acquisition marks Sharon Wagner’s second successful exit with Elron, following the sale of Claudine to Microsoft seven years ago.

Bitsight, headquartered in the U.S. and employing around 800 people, plans to retain Cybersixgill’s research and development operations in Israel. With annual revenues reported at approximately $220 million, Bitsight is also preparing for an IPO on Nasdaq in the coming years. Following the acquisition, Cybersixgill’s workforce will continue in their roles under the new ownership.

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