Abigail Klein Leichman
January 20

According to the “Israeli Tech Review 2024” by IVC Data and Insights and LeumiTech, 2024 was a better year for Israeli tech companies than 2023 – even though “2024 started with a war, geopolitical uncertainty [and] ongoing raging inflation in Western economies,” along with a host of other difficulties.

The report’s key findings:

  • An increase of 40% in capital raised.
  • An increase of 15% in the number of rounds.
  • Seven new unicorns (privately held companies that reached a $1 billion valuation) compared to four in 2023. In addition, 25 unicorns attracted $4.4 billion in 2024, double the amount raised by 21 unicorns in 2023.

The report noted, “Despite the ongoing war and the resulting complications in the Israeli economy, 2024 was more successful for Israeli high-tech companies raising capital than 2023. This year, 453 reported deals at the end of the period (annual) attracted $9.6b, an increase of 15% in number of rounds, and 39% up in capital raised, compared to 2023.

“Looking at the total number of deals we know about at the end of 2024 – a quantity related to funding rounds data IVC collects including deals which [were] revealed after the period in which the deal took place – there are 694 deals.”

Given that the final number of deals will be known only 12 to 24 months ahead, the report estimates between 1,000 and 1,100 deals were made in 2024.

“On a quarterly level, Q4/2024 was the top quarter this year for dealmaking, with 122 reported rounds. Five mega-rounds captured 36% of the total amount raised in Q4/2024.”

In 2024, Israeli high-tech exits showed a 64% increase in total capital proceeds over 2023 amounts. The most prominent deal was the acquisition of Own Data by Salesforce for $1.9 billion in Q3.

The report counts 144 pre-seed deals in 2024, an increase of 25% over 2023. Also, there were 21 seed rounds that raised over $10 million each, totaling $361m, close to the 20 rounds with $384m in 2023.

Furthermore, in 2024, more deals passed the $100m threshold, comprising 48% of total amounts raised. Six deals exceeded $200m each, attracting $2.97b, led by a $1b round made by Safe Superintelligence, an American company with offices in Palo Alto and Tel Aviv.

What was the hottest vertical in 2024? Cybersecurity.

According to the report “Dollar amounts for cyber companies reached 38% of the total funding for 2024 – mainly due to investments in Wiz and Cyera, which together were responsible for $1.5b.”

Finally, IVC estimates that between 500 and 550 new Israeli companies were established in 2024.

Why investors are still bullish on Israel even in wartime
Image by Sweet Tomato via Shutterstock.com

Massachusetts-based Two Lanterns Venture Capital, a seed fund investing in US and Israeli software startups, plans to invest 50 percent of its second fund in Israeli startups.


It’s not that the VC feels sorry for Israel during a difficult year of war. The decision is based on dollars and sense, said Two Lanterns founder and managing director John Harthorne at a recent online Israeli Innovation Webinar.

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Jason Harris

Jason Harris

Executive Director

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