According to reports, Israeli cybersecurity startup Claroty plans to conduct an IPO in the US in 2025, with a valuation of $3.5 billion.
Claroty is currently valued at $2.5 billion. Claroty is discussing listing on the NASDAQ or NYSE with underwriters, the report said.
Claroty said in this regard that the official IPO process has not yet started, and the final schedule is still being drawn up.
Claroty was co-founded by venture capital firm Team 8 and Amir Zilberstein in 2014 and focuses on protecting critical infrastructure systems such as power grids, steel mills, and refineries.
Last month, Team 8 managing partner Yuval Shachar told the media that Claroty hopes to launch a large-scale IPO soon. However, the current IPO market is not optimistic, and it may not be possible to go public next year. “It's hard to say when the IPO market will pick up, but we'll be ready for it,” Shachar said.
In March of this year, Claroty raised $100 million in a private equity round, bringing the total amount of financing to $735 million. Claroty said the company cooperated with 20% of the “Fortune 100 companies” and had recurring revenue of more than $100 million in 2023.
In early Series A and Series B financing, Claroty received investments from companies such as Rockwell Automation (Rockwell Automation), Schneider Electric, and Siemens.