Ribon secures $1.5B valuation via tranches

Cybersecurity startup Ribon has secured $150 to $200 million in commitments through an unconventional three-tiered funding structure valuing the company up to $1.5 billion before its formal founding. Cofounded by former military and cyber leaders including Ehud Schneorson and Idan Nurick, the company is developing a sovereign, AI-based cloud system for governments. High-profile venture firms including Founders Fund, Sequoia, and General Catalyst are participating across the different valuation tranches. Open article →