Elbit Systems on Monday announced that its wholly-owned subsidiary, Cyberbit, has raised a $30 million investment from the private equity investor Claridge Israel.
Engaged in the cyber security area Cyberbit provides cyber training and simulation solution – Cyberbit Range – and a consolidated detection and response platform that protects an organization’s entire attack surface across IT, OT and IoT networks.
Claridge Israel is an investment firm focused on growth investments in innovative companies with a technological advantage. The firm was initiated through a partnership between Claridge Inc., the Stephen R. Bronfman Family Office, and la Caisse de dépôt et placement du Québec (CDPQ), a global institutional private equity, infrastructure and real estate investor, with net assets of $230 Billion.
This investment will allow Cyberbit to take advantage of the rising demand for its product line, enhance customer and partner support and boost development, as well as expand sales and marketing operations, primarily in North America,.
Oded Tal, Managing Partner of Claridge Israel, will join Cyberbit’s board of directors.
Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems, said in a statement: “We see the cyber security field as a growth engine. We are encouraged by the technological and business achievements of Cyberbit in recent years, led by the rapid adoption of the market leading cyber training and simulation solution – the Cyber Range. I am confident that the partnership with Claridge Israel will lead Cyberbit to even greater achievements.”