USA - California Home to 22 Israeli Tech Unicorns

Arno Froese

“The numbers are wild,” United States—Israel Business Alliance (USIBA) president Aaron Kaplowitz said in an email text message accompanying the statement. “California continues to attract many of the best and brightest innovators in the world,” he added. “We’re seeing today a new generation of Israeli entrepreneurs contribute to northern California’s innovation ecosystem and benefit from a deep bench of venture capitalists.”

Eight Israeli-founded unicorns headquarter in San Francisco, the most of any US city behind New York, the statement said. Deel, with its office just beyond Oracle Park baseball field, is the most recent addition to the unicorn club. The payroll and compliance platform startup announced the completion of a $156 million funding round, driving its valuation to $1.25 billion. Deel has raised $206 million total—all in the past 11 months. 

Trailing San Francisco, Palo Alto now has seven Israeli-founded unicorns, including insurance firms Hippo, valued at $5 billion, and Next Insurance, at $4 billion. On March 22, Wiz closed a $130 million round, valuing the firm at a whopping $1.7 billion just three months after emerging from stealth. 

“Silicon Valley lives by the ‘move fast and break things’ mantra,” Kaplowitz said. “The Israelis, of course, have a word for that: chutzpah.” 

USIBA published research findings on the 21 Israeli-founded unicorns based in New York. Tel Aviv is the city with the most Israeli-founded unicorns in the world.

Soon after the New York report, Outbrain, a unicorn from the list, filed a confidential prospectus with the US Securities and Exchange Commission for plans to IPO. This development came a day after Israeli-founded ad software company DoubleVerify – headquartered in SoHo – closed its first day on the New York Stock Exchange up 33 percent, leading it to a market cap of $5.3 billion, the USIBA statement said.

[The term “unicorn,” used in this article, simply means any startup that has reached $1 billion valuation.]

-www.timesofisrael.com, 27 April 2021

Arno's Commentary

According to Jewish Virtual Library, New York leads with the highest Jewish population in the USA at 9.1%, followed by Washington DC at 8.2%, and California 3%. These figures do not include Israelis doing business in the USA. The liberal state of California seems very attractive for Israelis, who travel all over the world, see opportunities, and act thereupon. 

When it comes to globalism, Israel is in an excellent position due to the diversity of its Jewish population from virtually all around the world. It is estimated that 600,000 to over one million Israelis reside abroad.

The prophet Ezekiel speaks of the leaderless people of Israel: “As I live, saith the Lord God, surely because my flock became a prey, and my flock became meat to every beast of the field, because there was no shepherd, neither did my shepherds search for my flock, but the shepherds fed themselves, and fed not my flock” (Ezekiel 34:8). What is the ultimate aim? “For thus saith the Lord God; Behold, I, even I, will both search my sheep, and seek them out” (verse 11).

Arno Froese is the executive director of Midnight Call Ministries and editor-in-chief of the acclaimed prophetic magazines Midnight Call and News From Israel. He has authored a number of well-received books, and has sponsored many prophecy conferences in the U.S., Canada, and Israel. His extensive travels have contributed to his keen insight into Bible prophecy, as he sees it from an international perspective.

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