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Ermetic, a leader in cloud infrastructure security, has appointed Avi Israel as CFO. Israel, previously at SimilarWeb (NYSE: SMWB), played a key role in its billion-dollar IPO. The company has successfully raised $100M, including $70M in its latest Series B financing. Ermetic's technology focuses on reducing the attack surface of cloud infrastructure and enforcing least privilege at scale, positioning it well in the cloud security market. CEO Shai Morag emphasized Israel's experience as crucial for managing the company's rapid growth.
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Avi Israel's appointment as CFO is expected to enhance financial management during rapid growth.
Successfully raised $100M in funding, including $70M in Series B financing.
Ermetic's technology offers a robust solution in the growing cloud security market.
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Financial Executive Who Guided SimilarWeb to its IPO Joins Cloud Security Leader with $100M in Funding
PALO ALTO, Calif. & TEL AVIV--(BUSINESS WIRE)--
Ermetic, a leading cloud infrastructure security company, today announced the appointment of Avi Israel as its new CFO. The company recently closed a $70M Series B round of financing and has raised $100M in funding. Avi joins Ermetic from SimilarWeb, where he served as EVP of Finance and Information Systems for eight years and managed the company’s billion dollar IPO.
“Avi is a proven financial executive who recently helped build a successful technology start-up from zero into a billion dollar public company,” said Shai Morag, CEO of Ermetic. “He is the right person at the right time to help Ermetic manage our rapid growth as we advance to our next level of maturity as an enterprise and into a leading provider of cloud security software.”
Avi has more than fifteen years of experience in financial and operations management and information systems. Prior to joining Ermetic, he served as EVP of Finance and Information Systems for SimilarWeb (NYSE: SMWB) from its early days through a successful IPO in 2021. Earlier in his career, Avi worked at Ernst & Young LLP and marketing intelligence software vendor Kenshoo (now Skai). He is a Certified Public Accountant and earned a B.S. in Accounting and Economics from The Hebrew University of Jerusalem and an M.A. in Business Management from the College of Management Academic Studies.
“Ermetic is ideally positioned in the sweet spot of the cloud security market with a technology that uses an identity-first approach to address customer problems across multiple service provider platforms,” said Avi Israel. “It’s an exciting time to join the company and its proven management team. I look forward to helping build the next market leading security vendor.”
About Ermetic
Ermetic helps prevent breaches by reducing the attack surface of cloud infrastructure and enforcing least privilege at scale in the most complex environments. The Ermetic SaaS platform provides comprehensive cloud security for AWS, Azure and GCP that spans both cloud infrastructure entitlements management (CIEM) and cloud security posture management (CSPM). The company is led by proven technology entrepreneurs whose previous companies have been acquired by Microsoft, Palo Alto Networks and others. Ermetic has received funding from Accel, Forgepoint, Glilot Capital Partners, Norwest Venture Partners, Qumra and Target Global. Visit us at https://ermetic.com/ and follow us on LinkedIn, Twitter and Facebook.
