A rapid increase in AI powered cyberattacks has pushed Zafran Security to raise new capital as it works to strengthen its threat detection technology. The cybersecurity startup, founded by former Iranian born intelligence operative Sanaz Yashar, has secured USD 60 million in fresh funding. Yashar, now the company’s chief executive officer, told a news outlet that attacks are accelerating at a pace far beyond what the industry saw even a year ago.
The latest round lifts Zafran’s total funding to USD 130 million since its launch in 2022. While the company did not reveal its current valuation, it said annual recurring revenue has more than tripled since its previous USD 70 million round in September 2024. Zafran plans to expand its team as part of its growth strategy. The round was led by Menlo Ventures, with additional support from Sequoia Capital and Cyberstarts, the early backer of the start-up Wiz which sold to Google for USD 32 billion in March.
Companies worldwide are working to upgrade their cybersecurity systems as AI driven criminals grow more sophisticated. Besides Wiz, Palo Alto Networks announced in July that it would acquire identity security provider CyberArk for USD 25 billion. Yashar and her co-founders Ben Seri and Snir Havdala created Zafran after investigating a ransomware attack on a hospital in Israel. Yashar said the incident could have been prevented. The data was there she said, adding that better connected security tools might have blocked the attack. If the security tools were talking to each other, they could block it.
Yashar moved from Tehran to Israel at 17 and later served for 15 years in the elite Israel Defense Forces intelligence unit known as Unit 8200. She also led major investigations at threat detection firms FireEye and Mandiant, which Google acquired in 2022. Many notable cybersecurity companies such as Palo Alto Networks, Check Point Software and CyberArk were founded by Unit 8200 alumni. Zafran’s customers now include healthcare, financial services, insurance, technology firms and several Fortune 500 companies.
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