New Delhi: Zscalerm, a cloud security company which is headquartered in San Jose, California, has bought a cybersecurity startup named Avalor just 26 months after its founding. Report says that the deal was closed for $310 million in cash and equity.
Jay Chaudhry, Founder and CEO of Zscaler stated that the deal can further enhance the platform’s capabilities such as security incidents reporting, generating security policies, incident migration, data classification and asset discoveries.
Jay further said, “AI is only as good as the underlying data, and many solutions lack the additional context and knowledge from data sources across the enterprise to truly leverage security-specific AI models”. He also added “Zscaler operates the world’s largest security cloud with the most relevant data to train security specific large language models, and with the Avalor acquisition, we can more effectively identify vulnerabilities while predicting and preventing breaches.”
Raanan Raz and Kfir Tishbi both led the entire engineering team in the company Datorama before founding Avalor.
Avalor works as a central hub for cybersecurity information encompassing assets, vulnerabilities, controls, identities, bugs, and various data points. It enables security teams to consolidate, standardize, eliminate duplicates, and monitor risk data from initial discovery to resolution.
Raz stated in a blog post on Avalor’s website published on Thursday morning that “With Zscaler, we get instant access to a set of resources it would have taken years for us to develop organically — 7,000 customers, 4,200 channel partners globally, near-ubiquitous customer awareness and the validation of a $2 billion business behind us”. He also wrote “We’ll continue to operate independently as a complete Avalor team, and we’ll have all the tailwinds of the amazing Zscaler resources helping us.”
Before the Zscaler acquisition, Avalor had successfully raised $30 million from investors such as TCV, Jibe Ventures, Salesforce Ventures and more.