Israeli web intelligence company, Cobwebs Technologies, has been acquired by American private equity firm Spire Capital in a deal worth some $200 million. the start-up was renowned for its expertise in developing cyber intelligence solutions catering to law-enforcement and national security agencies, and financial services globally, with a strong emphasis on the U.S. and Western Europe markets. The company has achieved substantial revenue estimated to be in the tens of millions of dollars.
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renowned for its expertise in developing cyber intelligence solutions catering to enforcement bodies, national security agencies, and financial services globally, with a strong emphasis on the U.S. and Western European markets. The company gained substantial revenue estimated to be in the tens of millions of dollars.
"The exponential growth in data volume, coupled with the advancements in AI technologies and secure cloud services, is driving the increasing demand for high-quality information analysis," Udi Levy, CEO and co-founder of Cobwebs Technologies, said. According to reports earlier this year, the U.S. IRS paid the company hundreds of thousands of dollars for an internet investigative tool that allowed it to conduct undercover investigations online.
Founded in 2015 by Udi Levy (CEO), Shay Attias (CTO), and Omri Timianker (President), all former members of IDF special units, Cobwebs is a prominent player in the field of web intelligence. The company had successfully created a powerful search engine that can scan both the dark web and the deep web, identifying potential illegal or terrorist activities.
Utilizing advanced AI technology, Cobwebs' system conducts comprehensive background checks on individuals and promptly alerts users to any potentially harmful interactions in real-time. The company's early investments in AI advancements and digital intelligence have cemented its reputation as a leader in the industry.
With a workforce of 170 employees, Cobwebs raised approximately $10 million dollars thus far, which means that most of the exit funds will go to the company's founders. This strategic acquisition complements Spire Capital’s existing portfolio, which includes PenLink, an American company specializing in intelligence analysis based on digital evidence.
First published: 12:50, 07.12.23