Five of the start-ups are based in Boston
MIAMI, April 23, 2023 /PRNewswire/ — Ten Israeli-founded unicorns have their global or U.S. headquarters in Massachusetts, according to the United States – Israel Business Alliance. Each of these privately held technology companies reached or surpassed a $1 billion valuation and has at least one Israeli founder. The 10 companies have combined to create 6,745 direct jobs worldwide.
“The success in recent years of Israeli-founded companies in Massachusetts has reinforced the state’s reputation as an attractive option for Israeli start-ups to grow in the United States,” USIBA president Aaron Kaplowitz said. “Israeli entrepreneurs value the state’s world-renowned universities, highly skilled workforce, and direct flights between Boston and Tel Aviv.”
Among the 10 unicorns, five are based in Boston: Cybereason, Lusha, Snyk, Transmit Security, and TravelPerk.
With a $7.4 billion valuation, Snyk, a platform for securing computer code, remains the highest valued Israeli-founded unicorn in Massachusetts. The company reached that figure in December, when it completed a $196.5 million funding round. This estimate marks nearly a 13 percent drop from the $8.5 billion valuation it attained in 2021. Cybereason ($2.8 billion), which also saw its valuation fall, is the largest employer of the Massachusetts unicorn cohort. The cyber detection and response start-up has created 1,250 direct jobs worldwide.
In recent years, TravelPerk ($1.3 billion), a corporate travel platform with a global headquarters in Barcelona, has expanded across the U.S. In addition to establishing its primary U.S. presence in Boston’s Back Bay neighborhood, TravelPerk has opened offices in Miami and Chicago. The company employs some 1,151 people worldwide.
Formlabs ($2 billion), a 3D printing and manufacturing company founded by three Massachusetts Institute of Technology graduate students, headquarters in Somerville. Earnix ($1.1 billion), founded in 2001 by Sammy Krikler and Yoni Cheifetz, and Infinidat ($1.6 billion), founded in 2011 by Moshe Yanai, both locate their U.S. headquarters in Waltham. Aqua Security ($1 billion) and Pentera ($1 billion) have both established their U.S. headquarters in Burlington.
Massachusetts continues to trail only California and New York as the state with the most Israeli-founded unicorn headquarters.
The companies’ valuations and direct jobs created figures are estimates based on data resources, publicly available information, and conversations with executives and industry analysts. The estimates do not necessarily reflect the most current values.
Israeli-Founded Unicorns Based in Massachusetts
|
Company |
Valuation |
Direct Jobs |
City |
Solution |
|
Aqua Security |
$1,000,000,000 |
632 |
Burlington |
Cloud native security |
|
Cybereason |
$2,800,000,000 |
1,250 |
Boston |
Cyber detection & response |
|
Earnix |
$1,100,000,000 |
341 |
Waltham |
Critical systems for banks & insurers |
|
Formlabs |
$2,000,000,000 |
861 |
Somerville |
3D printing & manufacturing |
|
Infinidat |
$1,600,000,000 |
485 |
Waltham |
Data storage |
|
Lusha |
$1,500,000,000 |
319 |
Boston |
B2B sales & marketing |
|
Pentera |
$1,000,000,000 |
262 |
Burlington |
Cyber penetration tests |
|
Snyk |
$7,400,000,000 |
1,065 |
Boston |
Platform for securing code |
|
Transmit Security |
$2,700,000,000 |
379 |
Boston |
Passwordless authentication |
|
TravelPerk |
$1,300,000,000 |
1,151 |
Boston |
Business travel platform |
About the United States – Israel Business Alliance The mission of the United States – Israel Business Alliance is to strengthen the economic relationship between individual states and Israel. Learn more about the impact Israeli-founded companies are having on local communities at www.usisrael.co.
SOURCE United States – Israel Business Alliance
