Zscaler Buys Israeli AI-Enhanced Data Security Startup Avalor [BNN Bloomberg (Canada)]
Zscaler, Inc. (ZS)
Last zscaler, inc. earnings: 2/20 04:05 pm
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Source: BNN Bloomberg
The Salesforce Ventures-backed startup uses AI to analyze data and look for security insights, which will be beneficial to its Zscaler's business customers, according to Zscaler Chief Executive Officer Jay Chaudhry. “They had some very innovative technology,” Chaudhry said in an interview. Avalor's creative way of scouring data will help them “do security far better than the way we are doing it,” he said. Zscaler is actively looking to make acquisitions of startups that take a new approach to security, Chaudhry said. “We don't like to collect old companies,” he added. Zscaler acquired Avalor in a $310 million cash-and-stock deal, according to a person familiar with the matter, who asked not to be identified as the information is private. The transaction, which closed Wednesday, provides returns to Avalor's investors including TCV, the Menlo Park, California-based venture capital firm. Founded in 2021, the Ramat Gan, Israel-based Avalor has raised at least $30 million in fundi
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ZS
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ZS
Sec Filings
- 4/24/24 - Form D
- 4/17/24 - Form 144
- 4/4/24 - Form 144
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