JERUSALEM (Rahnuma): The Israeli cybersecurity companies have raised 3.9 billion U.S. dollars from 2014 to 2018, in 501 fund raising rounds, said a report released by the Israel National Cyber Directorate (INCD) on Sunday.
The report was prepared by IVC Research Center, a leading institution that provides insight into Israel’s hi-tech industry, at the request of the INCD, the Israel Export Institute and the state’s Foreign Trade Administration.
According to the report, as of the end of 2018, Israel has 752 cybersecurity companies, of which 367 have been funded over the past 5 years.
About 15 percent of the Israeli cybersecurity companies deal with data protection (thanks to knowledge from military technology units), nine percent in network security and seven percent in cyber intelligence — a relatively high percentage compared to the rest of the world.
According to the data, by the end of 2018 the cyber industry in Israel has had about 20,500 employees, half of whom were in private start-up companies, with the growth rate of approximately 12 percent per year since 2015.
The data also indicate that Israel’s total export activity in the cyberspace is estimated at 5.5 to 6 billion U.S. dollars in 2017.
According to the report, Israeli companies are more focused on innovation and technological superiority than on a comprehensive cyber protection solution.
The main problem faced by cyber companies is the shortage of employees, and the average time required to fill positions is seven months.