Guardicore Acquisition, Valuation, Funding & Investors

Guardicore was acquired by Akamai for $600M in September 2021, a 17.1x multiple on $35M of revenue.

Guardicore acquisition price

$600M

Acquired by Akamai · Sep 2021

Guardicore revenue at acquisition

$35M

Last twelve months · Sep 2021

Guardicore revenue multiple at acquisition

17.1x

EV/Revenue · Sep 2021

Cumulative funding Guardicore raised

$106M

across 4 funding rounds

Guardicore Overview

About Guardicore

Guardicore is a data center security company offering micro-segmentation, workload visibility, and breach detection platforms for hybrid cloud environments. Tel Aviv-headquartered with offices in Boston and London, it protects applications at enterprises like Deutsche Telekom and Société Générale using agentless deployment and real-time forensics. Acquired by Akamai in 2021, Guardicore enhances zero-trust architectures.


Founded

2013

HQ

IsraelTel Aviv

Status

Acquired

Customer focus

B2B

Revenue model

Subscription

Revenue

$35M (Sep 2021)

Valuation

$600M (acquired Sep 2021)

Guardicore Acquisition

Guardicore was acquired by Akamai for $600M on 29 September 2021.

The acquisition price implies a 17.1x revenue multiple on $35M of revenue.

Before the acquisition Guardicore had raised $106M across 4 funding rounds.

Akamai Technologies announced on September 29, 2021, a definitive agreement to acquire Guardicore, a Tel Aviv-based cybersecurity firm specializing in micro-segmentation software for zero trust security. Guardicore's solution limits user access to authorized applications, reducing threat surfaces and blocking malware and ransomware spread by denying communication by default. The acquisition extends Akamai's zero trust portfolio to provide comprehensive enterprise protections. The deal values Guardicore at approximately $600 million for all outstanding equity, after expected purchase price adjustments, with closure anticipated in Q4 2021. Akamai projected Guardicore to contribute $30-35 million in revenue for fiscal year 2022. Guardicore, founded by former Israeli Defense Forces cybersecurity experts Pavel Gurvich and Ariel Zeitlin, was previously backed by venture firms including 83North, Battery Ventures, and TPG Growth, and offered a partner program for MSSPs providing managed detection and response services. Morgan Stanley advised Akamai on the transaction. Post-acquisition, Guardicore's integration has contributed to strong growth in Akamai's cyber sector, alongside other Israeli acquisitions like Neosec and Noname Security.

Guardicore acquisition details
AcquirerDateTypePriceEV/Revenue
29 Sep 2021Strategic M&A$600M17.1x

Guardicore Funding History

Guardicore has raised a total of $106M across 4 funding rounds.

Guardicore's first fundraising round was a $11M Series A in August 2014. The most recent completed round was a $60M Series C in May 2019.

Guardicore funding rounds

Guardicore funding rounds
DateStageInvestorsRaisedDeal Summary
May 2019Series CQumra Capital (lead); Poalim Equity; Battery Ventures; ClalTech; Partech; Greenfield Partners; TPG; DTCP; 83North; La Maison ITF$60MGuardicore is an Israeli cybersecurity company founded in 2015, specializing in micro-segmentation for internal data center and cloud security to protect enterprises in finance, healthcare, retail, and other sectors across North America, South America, EMEA, and the Mideast. The company raised $60 million in a Series C funding round on May 20, 2019, led by Qumra Capital, with participation from new investors DTCP, Partech, ClalTech, and existing investors Battery Ventures, 83North, TPG Growth, and Greenfield Partners, bringing total funding to $110 million. Funds were allocated to accelerate growth in sales, marketing, customer service, product development, partner programs, and expansion to enterprise organizations. Guardicore's Centra platform provides persistent security for applications in dynamic hybrid environments, displacing traditional firewalls and competitors like VMware NSX and Cisco ACI by overcoming their limitations in deployment and flexibility. CEO Pavel Gurvich noted the company tripled revenue for each of the prior three years and aimed to repeat this in 2019 and 2020, though exact figures were not disclosed. The firm had over 150 employees, a global network of 50+ partners, and focused on growing its MSSP ecosystem with aligned pricing. Qumra Capital highlighted Guardicore's market disruption in the micro-segmentation space, valued at $1 billion in 2019 and projected to reach $3.8 billion by 2025. Post-round, Guardicore was named a finalist in the 2019 Black Unicorn Awards for cybersecurity firms with unicorn potential. Ram Metser joined the board, bringing experience from Guardium's IBM acquisition.
Aug 2017Series BTPG (lead); Battery Ventures; Cisco Investments; Greenfield Capital Partners; 83North; Dell Technologies Capital$15M-
Jul 2016Series B83North (lead); Battery Ventures (lead); Cisco Investments; Dell Technologies Capital$20MGuardicore is a Tel Aviv-based cybersecurity company founded in 2011 that specializes in internal data center and cloud security, offering granular visibility, segmentation, and real-time breach detection and response capabilities. The company develops workload protection offerings designed to help organizations stop advanced threats in data centers and public cloud services. In July 2016, Guardicore raised $20 million in Series A funding led by Battery Ventures and 83North. This round was extended in August 2017 with an additional $15 million, bringing the Series B total to $35 million and overall funding to $48 million, with participation from TPG Growth, Greenfield Partners, Cisco Investments, and Dell Technologies Capital. In May 2019, Guardicore announced a $60 million Series C round led by Qumra Capital with participation from Battery Ventures, 83North, DTCP, Partech, and Access Industries' ClalTech, which brought cumulative funding to $106 million. The company subsequently grew to approximately 400 employees. Guardicore was acquired by Akamai Technologies for $600 million in September 2021, representing a significant exit for early investors.
Aug 2014Series ABattery Ventures (lead); 83North$11M-

Who has invested in Guardicore?

13 investors have backed Guardicore across its funding rounds, including Battery Ventures, 83North, TPG, Dell Technologies Capital, Cisco Investments and Partech.

Lead investors include Qumra Capital, TPG, 83North and Battery Ventures.


Guardicore Investors

Investors in Guardicore by funding rounds participated
InvestorHQRoundsRoleFirst check
Battery VenturesUnited StatesBoston, MA4LeadAug 2014
83NorthUnited KingdomUnited Kingdom4LeadAug 2014
Cisco InvestmentsUnited StatesUnited States2ParticipantJul 2016
TPGUnited StatesSan Francisco, CA2LeadAug 2017
Dell Technologies CapitalUnited StatesSan Francisco, CA2ParticipantJul 2016
Poalim EquityIsraelTel Aviv1ParticipantMay 2019
ClalTechIsraelTel Aviv1ParticipantMay 2019
PartechFranceParis1ParticipantMay 2019
Greenfield Capital PartnersUnited StatesWestport, CT1ParticipantAug 2017
Greenfield PartnersIsraelTel Aviv1ParticipantMay 2019
DTCPGermanyHamburg1ParticipantMay 2019

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Guardicore Competitors

Guardicore competitors include listed companies like Sansec, Baudroie and Beijing VRV Software, and private ones like Bitdefender, Doppel and Shift5.

Public and private companies comparable to Guardicore
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
BitdefenderRomaniaBucharestPrivate--$600M-
DoppelUnited StatesLos Angeles, CAPrivate--$600M-
SansecChinaChinaPublicly listed$83M($2M)$602M5.4x
BaudroieJapanJapanPublicly listed$112M$24M$595M4.3x
Beijing VRV SoftwareChinaChinaPublicly listed$46M($44M)$595M-
Shift5United StatesUnited StatesPrivate--$591M-

Guardicore Public Comps

Guardicore is no longer listed, but its public comps include Sansec, Baudroie, Beijing VRV Software, Aura.com, DBAPPSecurity, eMudhra, Global Security Experts, OneSpan, Hunan Kylinsec Tech and Feitian Technologies.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Sansec$83M($2M)6.1x5.4x(310.1x)(388.8x)
Baudroie$112M$24M5.2x4.3x24.7x21.0x
Beijing VRV Software$46M($44M)13.1x-(13.6x)-
Aura.com$193M($155M)5.7x-(7.0x)-
DBAPPSecurity$321M$15M1.8x1.8x38.5x21.1x
eMudhra$73M$18M7.3x6.6x30.1x27.4x
Global Security Experts$71M$15M7.6x6.8x36.5x-
OneSpan$243M$57M2.6x2.5x11.0x8.9x

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Common questions about Guardicore

When was Guardicore founded?Guardicore was founded in 2013.
Where is Guardicore headquartered?Guardicore is headquartered in Tel Aviv, Israel.
Is Guardicore publicly listed?No, Guardicore was acquired by Akamai in September 2021.
Who acquired Guardicore?Guardicore was acquired by Akamai in September 2021.
How much was Guardicore acquired for?Guardicore was acquired for $600M in September 2021, a 17.1x revenue multiple.
How much funding has Guardicore raised?Guardicore has raised $106M across 4 funding rounds.
What was Guardicore's last funding round?Guardicore's last funding round was a $60M Series C in May 2019, led by Qumra Capital.
Who are Guardicore's investors?Guardicore's investors include Battery Ventures, 83North, Cisco Investments, TPG, Dell Technologies Capital, Poalim Equity, ClalTech, Partech, Greenfield Capital Partners, Greenfield Partners and 3 others.
Which companies are comparable to Guardicore?Companies comparable to Guardicore include Bitdefender, Doppel, Sansec, Baudroie, Beijing VRV Software and Shift5.

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