Zerto leads Israel’s Fast 50 tech companies
Zerto is Israel’s fastest-growing technology company, according to a list released yesterday by accounting firm Deloitte. The list, called the Fast 50, starts with Zerto, which develops disaster-recovery software for virtual infrastructure and the cloud. The 50 companies on the list had revenues of $4.8 billion last year, some 20% more than the companies that made the 2014 list. This year is shaping up to be another record year for Israel’s high-tech industry in terms of raising funds and exits, and is also a good one in terms of revenues. Zerto’s revenues are up 24,000% between 2011 and 2014.
Second on the list is Taboola, a software company that recommends content on various web platforms. In January, Taboola raised $117 million, and its revenues are up 13,800% between 2011 and 2014. Third on the list is HiroMedia, a video distribution platform founded in 2005 that now employs 100 workers, with revenue up 5,724% from 2011 to 2014. Most of the other companies on the list are also in the programming field. Fast 50 is one of the more established rankings in Israel’s high-tech industry. (Inbal Orpaz)
Comverse to lay off 130
Comverse is laying off 130 employees, as part of a collective bargaining agreement signed on Sunday with the Histadrut labor federation. The employees will be let go by mid-2016, and will receive a grant equal to as much as eight monthly salaries as well as the standard severance pay. Comverse’s employees unionized under the Histadrut in April. (Janan Bsoul)
Social impact bonds to debut in Israel
Social impact bonds are coming to Israel: Ronald Cohen’s company Social Finance is unveiling the country’s first bonds for social improvement, in partnership with the Rothschild-Caesarea Fund. Under the model, the non-tradable bonds are slated to fund social programs. Israel’s first social impact bonds will be earmarked to keep students from dropping out of college computer science programs. (Lior Dattel)