Mnuchin’s Liberty Fund buys control of Zimperium for $525m

Liberty Strategic Capital, the private equity fund set up by former US Secretary of State Steve Mnuchin, has acquired control of the mobile security solutions company Zimperium, for $ 525 million. This is the largest investment of Mnuchin’s fund, which was founded last year and has previously been invested in growth rounds by companies such as the Israeli startup Cybereason. Zimperium was founded in Israel by Zuk Avraham.

According to PitchBook, Liberty’s investors include the Japanese giant SoftBank and the Saudi sovereign wealth of fun PIF, which has become an indirect partner in many Israeli cyber security companies. This investment by Liberty is in a company based in the USA, which has extensive relations with the US government. Zimperium has for many years served the US Department of Defense and its customers as well as the investment banking giant JP Morgan.

Zimperium was founded by Israelis and today operates from Dallas, Texas. The company has raised $ 100 million from Warburg Pincus, Samsung Next and SoftBank, all of which will continue to have a minority stake in the company. Zimperium was founded in Israel in 2010 to focus on cyber security for mobile phones with both Apple and Android operating systems. The company grew rapidly after the outbreak of the Covid pandemic as companies sought to expand their security coverage to include telephones for employees working remotely. In 2021, Zimperium’s revenues increased by 53%.

Zimperium was founded by Zuk Avraham, who wrote on his LinkedIn page that he would now concentrate on a full-time job in a new startup that he has founded called ZecOps, which received publicity in Israel during the NSO-Israel Police deal. ZecOps conducted a free survey of smartphones by former Finance Ministers Shai Babad and Keren Terner, and found that Pegasu’s spyware had been removed several days before the survey.

Published by Globes, Israel business news – – on March 30, 2022.

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