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Home | Israel News
HALF OF GLOBAL CYBERSECURITY INVESTMENT HAS BEEN IN ISRAEL, PM BENNETT SAYS
Israeli cybersecurity firms profit immensely from the coronavirus pandemic,
which pushed the world to work from home and increased global internet traffic
Reuters
Jan. 18, 2022
Jan. 18, 2022
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The World Economic Forum's annual gathering of world leaders, business
heavy-hitters and other influential people, started online on Monday, Jan. 17,
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Reuters
Jan. 18, 2022
Jan. 18, 2022
Around half of global cybersecurity investment in the past few years has been in
Israel, Prime Minister Naftali Bennett told the World Economic Forum by video.
As more work is done remotely, Bennett said, companies will be increasingly
vulnerable to cyberattacks.
"This means we need good cyber defense and Israel has massively invested in
cyber defense technologies," Bennett said.
"I believe roughly half or almost half of the global investments in cyber
companies over the past few years has been in Israel. So Israel has become a
powerhouse in cyber defense. I see a bunch of opportunities, and we intend to
seize them."
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Israeli cybersecurity firms have profited immensely from the coronavirus
pandemic, which pushed the world to work from home and increased global web
traffic. As a result, companies have needed to enable remote working and have
quickly undergone digitization processes that also necessitate security.
Israeli cybersecurity startups in particular have found themselves at the center
of venture capitalists' attention. Unicorns, startups valued at over $1 billion,
have become a common occurrence in the past year. While 2020 only saw five new
Israeli unicorns in the field of cybersecurity, 2021 saw seven of them in just
the first six months.
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