Believe it or not, 2024 was a pretty good year for Israel when it comes to at least one thing: high-value startup exit deals.

Despite ongoing “regional challenges,” Israeli high-tech managed to rack up an unprecedented $13.4 billion in IPOs and mergers and acquisitions, according to PWC. 

That’s still a far cry from 2021’s record high of $82.5 billion, but 2024’s hefty sum, spread across 53 deals, surpasses last year’s diminutive $7.5 billion (an increase of 78%). 

The top 10 deals alone represent a staggering $7.6 billion (which is, coincidentally, the approximate pay gap between a single Israeli high-tech CEO and every living journalist in Israel combined).

This achievement stands as a historic milestone that simultaneously defied global economic headwinds and yielded a mass sigh of relief from software developers who were waiting until the eleventh hour to start updating their resumes and fiddling around on LinkedIn.

Here’s a quick look at the top 10 deals that defined this groundbreaking year:

1. Own acquired by Salesforce ($1.9b)

Own, a Tel Aviv-based data protection platform, was acquired in a blockbuster $1.9 billion deal. Founded in 2015, the startup offers enterprise cloud data protection that caught the attention of Salesforce, a global customer relationship management leader with over $31.4 billion in annual revenue.

By acquiring Own, Salesforce is likely aiming to strengthen its data protection capabilities by integrating the startup’s backup and recovery technologies directly into its cloud ecosystem. An additional benefit offered by the deal is that they can now tell cocktail party guests that they “own Own.” 

2. Resident acquired by Ashley Home ($1b)

Resident is an online furniture and mattress sales company that uses advanced algorithms for personalized product recommendations and virtual room design. The $1 billion acquisition by Ashley Home, a leading furniture retailer with over 1,000 North American locations, is a sign that some people really do need a computer brain to tell them which big fluffy slab they’d best like to sleep on.

By acquiring Resident, Ashley Home gains access to e-commerce tech that could majorly enhance its online shopping experience, which is only becoming more important as people grow less willing to leave their homes and flop around in mattress store showrooms.

3. BioCatch acquired by Permira ($750m)

The majority stake of BioCatch, a behavioral biometrics cybersecurity company founded in 2011, was acquired for $750 million by Permira, a global investment firm managing over $65 billion in assets. The Tel Aviv-based startup has developed technology that analyzes how users interact with their devices to enhance online security and prevents digital fraud.

For Permira, the deal adds a sophisticated fraud detection platform to its portfolio, which seems like a decent pie to have a finger in, what with all the phishing and vishing and smishing going around these days (those are all real terms, look it up).

4. Run:ai acquired by Nvidia ($720m)

Founded in 2018, Run:ai has emerged as a serious player in AI infrastructure, developing platforms that help organizations efficiently manage and scale their machine-learning workloads. They’ve definitely been doing a bang-up job of that, considering that they drew the attention of Nvidia, the world’s current leader in AI computation and chip development. The $720 million deal positions Nvidia to provide better solutions for enterprise AI.

5. SuperPlay acquired by Playtika ($700m)

SuperPlay, an Israeli mobile game development studio, was acquired by Playtika for $700 million in a deal that proves that there’s still a lot of money to be found in phone games that try to take your money. For Playtika, the acquisition reinforces its position as a leader in the competitive mobile gam(bl)ing industry.

6. V-Wave acquired by J&J ($600m)

V-Wave is a developer of minimally invasive solutions for structural heart diseases. Its flagship product, an implantable device designed to treat chronic heart failure, was cool enough to convince Johnson & Johnson to shell out a cool $600 million to add it to their portfolio. 

V-Wave’s tech provides J&J with a significant opportunity to advance medical treatment options within the cardiovascular space.

7. Variscite acquired by Telysis ($589m)

Variscite develops computing boards for embedded systems and devices in industrial and automotive applications. The $589 million buyout by global technology investment firm Telysis just goes to show that, even though your company may not be easily explainable over the dinner table, it could still be worth a hefty chunk of change.

8. HiredScore acquired by Workday ($530m)

HiredScore is developing a platform that uses AI algorithms to optimize hiring processes. This hot technology seemed like a worthy $530 million acquisition to Workday, which specializes in providing cloud applications for finance, human resources and planning.

Integrating AI-driven recruitment and talent management directly into its existing HR platform will help Workday give corporate clients the enterprise human management solutions they so desperately crave.

9. Dazz acquired by Wiz ($450m)

Dazz is an Israeli cybersecurity company that focuses on simplifying and automating security remediation processes, aiming to make cybersecurity teams more strategic and developers more efficient. The company was acquired for $450 million by Israeli cybersecurity unicorn Wiz in what could reasonably be described as “a steamy Israeli-on-Israeli affair,” assuming you were writing about it and wanted to have a little fun. Woo-hoo.

10. Noname Security acquired by Akamai ($450m)

Since it started doing business in 2020, Israeli cybersec startup Noname Security has become a leader in API (application programming interface) security — which is a kind of security that is fervently desired by people who know what API is. Akamai can probably be included among them, considering that they paid $450 million to buy out Noname and all of its API-securing glory. Akamai specializes in cloud computing, security and content delivery. 

What have we learned?

While 2024 may have been a pretty tragic year for most people living in Israel and environs, it seems like there are still a few places where great progress is being made.

Chief among them, it seems, is the high-tech sector, the ever-beating heart of Israel’s economy, which has managed to keep money flowing through its many city-shaped arteries and veins.