Spot.io Founders Raise $28M for Secret Cyber Startup Two Years After $450M Release
Amiram Shachar, who founded Spot.io – which was sold two years ago to US storage giant NetApp for $450 million – recently founded a new cybersecurity company, Upwind, alongside team members with which he built Spot: Liran Polak, Lavi Ferdman, and Tal Zur. Calcalist has learned that the new startup has already raised $28 million in seed funding. The company is currently in stealth mode and has yet to officially launch. Some of the world’s leading venture capital firms participated in the round, including Greylock, Gili Raanan’s Cyberstarts, Leaders VC and other private investors.
Founded in 2015 by Shachar, Spot raised $52 million before being sold to NetApp, which currently has a market capitalization of over $15 billion. After its sale, Spot’s annual revenue rose to more than $100 million, and according to forecasts presented by its founders at the time, in the coming years it should reach a sales volume of around half -billion dollars per year.
Two years after selling to NetApp, the founders of Spot finished their work at the company and decided to enter the cybersecurity field, after buying a security-related business in Spot’s business and learning to know the space closely.
Intel Capital, Highland Capital, Vertex Ventures and Leaders VC have invested in Spot in several different funding rounds. At the time of its sale, around 200 employees worked at the company in Tel Aviv, London and San Francisco. In 2017, before acquiring Spot, NetApp acquired Israeli startup Plexistor, which developed storage and memory technologies, and in 2019 it acquired Cognino. After the Spot acquisition, Spot under Shachar led several other notable NetApp acquisitions, including cloud companies such as CloudCheckr and InstaCluster, which were added to Spot’s product portfolio.
Shachar served six years in the IDF as an officer in the Mamram Unit, heading the army’s data center infrastructure. After completing his military service, he studied for a Bachelor of Science in Computer Science at the College of Management. He founded Spot during his last semester, as part of his final project.