Israel Tech Startups Smash Record by Raising $25 Billion in 2021
Israel Tech Startups Smash Record by Raising $25 Billion in 2021
(Bloomberg) -- Israeli startups have raised $25.4 billion this year, trouncing the previous annual record amid a surge in global technology investment.
The number of company funding rounds larger than $100 million this year more than tripled to 74, according to a report by Start-Up Nation Central, a non-profit that promotes Israel’s technology industry.
The investment boom was driven by “a big shift in the identity of the leading investors,” with American funds such as Insight Partners and Tiger Global among the most active in the Israeli market this year, according to the report.
Public listings jumped to a record as well, with firms like Monday.com Ltd., Global-E Online Ltd. and Riskified Ltd. headlining a roster of 57 companies that sold shares this year.
Despite the wave of funding, Israeli startups are still struggling to hire enough workers to meet their plans for expansion, said Start-Up Nation Central Chief Executive Officer Avi Hasson.
Talent shortages have been a chronic problem for the industry, which had about 13,000 openings at the end of last year, according a report from the Israel Innovation Authority.
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