Israeli cybersecurity group CYE raises $100 million from EQT, 83North

STOCKHOLM: Israeli cybersecurity company CYE said on Wednesday it had raised $100 million from Swedish private equity firm EQT and London-based venture capital firm 83North as it looks to expand in European and North American markets.

Cybersecurity has become a focus for businesses as the coronavirus pandemic has pushed employees to work from home, increasing the risk of hacking incidents.

The company helps businesses to prevent hacking and has also helped its clients to secure their networks after customers of U.S. software company SolarWinds were targeted by hackers using malicious software updates.