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CHECK POINT SOFTWARE TECHNOLOGIES LTD.

(CHKP)
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Check Point Software Launches CyberUp: Israel's Premier Accelerator Hub for Cybersecurity Start-ups

11/25/2022 | 05:00am EST

CyberUp accelerator program will support cybersecurity start-ups by opening market opportunities and developing the local cyber security ecosystem.

Check Point Software Technologies Ltd. (NASDAQ: CHKP), a leading provider of cybersecurity solutions globally, has launched its CyberUp program, an initiative that will support Israel's growing network of cybersecurity start-ups by opening up market opportunities with its established customers and providing access to potential investors. As well as guiding successful participants through the crucial stages of growth, CyberUp will in turn give Check Point customers access to cutting edge Israeli innovation.

Unlike other start-up programs, CyberUp is focused solely on the cybersecurity sector. Candidates are carefully selected, vetted, and chosen only if they have a mature, deployable solution that is of value to Check Point's existing customers. The first batch has already launched, with seven early-growth companies selected to take part. These are Cyberpion, Grip Security, Infinipoint, Reflectiz, Sentra, Suridata and Zero Networks.

Israel has earned its reputation as 'the start-up' nation, accommodating 97 unicorns each valued over $1bn, according to global Israeli startup founders club Techaviv. Investment in the start-up ecosystem is also increasing, with Israeli companies securing EUR5.4bn in deal value in the first half of 2022, up from EUR4.2bn in the second half of 2021.

CyberUp is the brainchild of Noa Zilberman, who joined Check Point from Odo Security, a cybersecurity start-up she co-founded. As well as being an accelerator, the program will also support early-stage companies in the sector and the next generation of cyber entrepreneurs. She commented: 'Check Point has been instrumental in the success of many Israeli cyber start-ups. Some 40 companies have been founded by former employees, and almost everyone in the cyber space has crossed paths with Check Point at some stage.'

CyberUp is a 16-week program where start-ups gain exposure to the global cybersecurity market with introductions to customers and insights from leading CISOs, all guided by an expert customer advisory board. One innovative element of the program is the bi-weekly in-person briefings at Check Point's Innovation Center. This provides a space where participants can meet and discuss ideas with delegations of customers and explore future collaborations. There will also be a series of 'Intimate CISO Talks,' where start-ups can actively engage with customers on the key challenges they are facing. 'This active one to one engagement with real customers and experts in the space sets CyberUp apart from other programs based simply on mentoring and lectures,' added Zilberman.

In addition to the CISO talks and in-person sessions, participants can also take part in joint marketing initiatives with Check Point on the CyberTalk site and within the CheckMates user community, which will give them exposure to thousands of customers worldwide. At the end of the program, participants will be invited to the US for in-person meetings with senior CISOs and international VCs, as well as taking part in events such as RSA, Black Hat and Check Point's own CPX conference.

As well as helping established organizations, Check Point is also giving something back to the community by supporting early-stage start-ups under the Eco-System Development part of the program. This includes quarterly cyber breakfasts attended by entrepreneurs CISOs and VCs, and a twice-yearly innovation event where start-ups can present to and engage with experts as well as one to one meeting opportunities.

Follow Check Point via:

Twitter: https://twitter.com/checkpointsw

Facebook: https://www.facebook.com/checkpointsoftware

Blog: https://blog.checkpoint.com

YouTube: https://www.youtube.com/user/CPGlobal

LinkedIn: https://www.linkedin.com/company/check-point-software-technologies

About Check Point Software Technologies Ltd.

Check Point Software Technologies Ltd. (www.checkpoint.com) is a leading provider of cyber security solutions to corporate enterprises and governments globally. Check Point Infinity's portfolio of solutions protects enterprises and public organizations from 5th generation cyber-attacks with an industry leading catch rate of malware, ransomware and other threats. Infinity comprises four core pillars delivering uncompromised security and generation V threat prevention across enterprise environments: Check Point Harmony, for remote users; Check Point CloudGuard, to automatically secure clouds; and Check Point Quantum, to protect network perimeters and datacenters, all controlled by the industry's most comprehensive, intuitive unified security management; Check Point Horizon, a prevention-first security operations suite. Check Point protects over 100,000 organizations of all sizes.

(C) 2022 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2022 2 328 M - -
Net income 2022 781 M - -
Net cash 2022 3 604 M - -
P/E ratio 2022 21,1x
Yield 2022 -
Capitalization 16 248 M 16 248 M -
EV / Sales 2022 5,43x
EV / Sales 2023 4,93x
Nbr of Employees 5 642
Free-Float 38,5%
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Last Close Price 129,56 $
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Managers and Directors
Gil Shwed Chief Executive Officer & Director
Roei Golan Vice President-Finance
Jerry T. Ungerman Chairman
Sharon Schusheim Chief Information Officer & VP-Information System
Tal Payne Chief Operating Officer
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