Zafran CEO Denies Sale to Cisco, Confirms Upcoming Investment Round
Recent media reports suggested that Israeli cybersecurity firm Zafran, led by entrepreneur Snez Yashar, was negotiating a sale to Cisco for under $200 million. However, Yashar denied these claims in an interview with Globes, stating that Zafran is not being sold to Cisco but is instead preparing for a new investment round. Cisco has not responded to inquiries, but sources close to the company confirm no acquisition talks are underway.
The upcoming funding round is expected to include a modest investment from Cisco, amounting to a few million dollars, potentially valuing Zafran at up to $1 billion. This valuation is based on accelerated growth following the April launch of Anthropic's Mythos model, which has driven increased customer interest in autonomous malware defense products. The collaboration between Zafran and Cisco originated through Cisco's Splunk business unit, which focuses on AI and machine learning-based cybersecurity. Many clients use both Splunk and Zafran products, prompting mutual cooperation.
Zafran has seen a significant revenue increase since April, projecting $30-40 million in revenue by year-end, up from $20 million last year. The company addresses the challenge posed by hackers exploiting AI tools to bypass software patches rapidly, offering real-time intrusion detection and blocking based on organizational defense rules. To date, Zafran has raised $130 million from investors including Sequoia, Cyberstarts, Menlo Ventures, Vintage, and 01 Advisors, with basketball star Steph Curry also investing through his venture fund, FNC.
Founded by Snez Yashar, a former 8200 intelligence officer and cybersecurity researcher, Zafran's leadership includes CTO Ben Seri and former product VP Shnir Havdala, who recently left for a senior role at Nvidia after a personal leave. The company also hired a new product VP focused on the U.S. market. Yashar, originally from Iran and the inspiration for a character in the Israeli series "Tehran," continues to lead the company through this growth phase.
