A year and a half after software protection company Vdoo announced that during its series B round it raised $32 million, the company announced on Wednesday that it has extended that investment round by an additional $25 million. The round’s extension was led by the Qumra Capital fund and Verizon Ventures. According to Calcalist’s estimates, the company’s valuation at this time is significantly higher than it was at the start of the round.
“This is a mid-investment round because of the strategic value it adds, and that it allows us to prepare for 2021, and is part of our important collaboration with Verizon,” Netanel (Nati) Davidi, one of the company’s co-founders and its CEO told Calcalist. “The company’s shares are being sold at a rapid pace and I want to recruit an additional 40 employees, mainly for marketing and sales positions. We have several yearly contracts with strategic companies including Schneider Electric among others. We’ve been successful during a year where it’s been difficult to operate in the industry, yet have managed to double the number of our customers.”