Views From CyberTech: 7 Trends from Israel's Cybersecurity Conference

Last week in Tel Aviv was a big moment for Israeli cybersecurity. CyberTech Israel, boasting over 10,000 attendees from five continents, quickly established itself as one of the de facto conferences outside of the United States. CyberTech was comprised of the usual conference features: talks, panels, swag, and famous speakers. However, what makes the conference really standout is its access to the latest crop of early stage startups. According to Start-Up Nation Central, total investments in 2016 for the Israeli cybersecurity reached $581 million, an increase of 9 percent over the previous year. Israel’s Prime Minister Benjamin Netanyahu even made an appearance, marking the importance of cybersecurity to Israel and the nation’s identity.

Israeli cybersecurity prominence isn’t new - Check Point and CyberArk are well known and leaders in their respective fields, and you don’t have to look far to find Israeli talent present in other security firms. The blend of military conscription and Israel’s place as a cyberwarfare superpower has helped to create a steady output of innovation and talent. Israeli entrepreneurs are translating the skills and abilities they honed in their IDF service into technologies for the market, giving organizations a view into the bleeding edge in cybersecurity.

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Work-Bench Enterprise Funding Report: Will 2017 Be The Year Unicorns Earn Their Horns? (2H2016)

Using data from the Enterprise Startups Funding Database - where every week we track and record all publicly announced enterprise technology funding rounds - we took a look back at 2016 to see how it stacked up against 2015 and 2014.

In line with holistic 2016 trends we’ve seen from Pitchbook and Fortune, 2016 was a year where the market normalized. This makes sense after a record breaking 2015 with close to $15.8B invested across 648 enterprise deals - a nearly 82% and 75% increase over 2014 totals, respectively. Building on our analysis of the first half of 2016, here's what we saw:

  • Compared to 2015, enterprise funding decreased by 20% in 2016, with $12.6B deployed in the year. However, deal count only dipped 6% to 611 financing events in 2016 vs 648 in the prior year.

  • Later Stage financing bore the brunt of the decreased capital deployment, with the share of Series D (and later) rounds across the country falling to 9.2% of total deal volume compared to 13.3% in 2015.

  • New York is still solidly in command of second place for enterprise software. In total since January 2014, New York has seen $3.9B flow into various enterprise startups over a total of 222 financings.

  • Although 2016 saw a drought of IPOs, it was a stellar year for enterprise M&A with over $65B in acquisitions.

See below a full breakdown of our research highlighting the key activity underpinning this movement, and if you’d like to get in touch, please feel free to shoot us an email or reach out via Twitter to @Work_Bench.

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Announcing Our Investment in Backtrace

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Today we’re excited to announce that Work-Bench is joining Amplify Partners, Rally Ventures, and Tribeca Venture Partners to invest in Backtrace’s $5M Series A.

Global software development costs more than one trillion dollars per year, and errors and bugs are a natural and unavoidable byproduct of writing code. Developers spend 50% of their time debugging software - a hugely inefficient time suck that detracts from an engineer’s time building software. Hundreds of billions of dollars are lost on this effort, and insufficient tools, processes, and data make debugging at scale a hairy challenge. Without a robust debugging platform, it is impossible to identify and map the similarities between errors and their corresponding root cause - a necessity in order to diagnose and fix the core issues.

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How the Technology Behind Bitcoin is Changing Money, Business, and the World

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Earlier in November, we hosted Don Tapscott at Work-Bench for a sold out, 300 person keynote address on his best-selling book, The Blockchain Revolution: How the Technology Behind Bitcoin is Changing Money, Business, and the World. One of the world's foremost experts on blockchain technologies, Don Tapscott showed how blockchain has the potential to become a foundational technology, one that is used in a wide variety of applications across all major industries - with the potential to transform the way enterprises around the world operate.

The sold out audience and the diverse group of attendees, which was evenly split between blockchain-oriented startups and corporates, demonstrates that we're on the cusp of some very interesting use cases and applications of this emerging technology. Watch the full video in its entirety below.

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Welcome to our 3 New Mentors: Scott Coleman, Scarlett Sieber, and Andrew Stern

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From leading Fortune 1000 executives to enterprise entrepreneurs with hundred million dollar exits, our mentors at Work-Bench are part of the heart and soul of everything we do. Given the unique set of procurement, sales, and pricing challenges enterprise startups face, and when all it takes is one contract to make or break an early stage enterprise startup, we've seen time and time again how valuable it can be to hear the buyer's perspective or have a voice on the other side of the table.

So with that, we're excited to add three new mentors who we've seen demonstrate their value time and again. Please join us in welcoming Scott Coleman, Scarlett Sieber, and Andrew Stern to the Work-Bench family.

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