Siemplify was founded in 2015, the same year the company established a base in New York. Stern confirmed that this was done to get closer to a larger market and eventually reach more customers.

Every year, more and more Israeli companies move to the United States, but what makes New York such a special place to do business?

Total funds to date/financing rounds completed: US$58 million/C round of financing (the last round of financing)

General background of the founders/senior managers:

I met Alon Cohen and Garry Fatakhov while working at the Israeli international defense contractor Elbit Systems, where we trained security operations teams from all over the world. At Elbit, we envision a better, simpler, and more effective way to manage security operations. Therefore, Siemplify was born. Our deep background in Security Operations Center (SOC) management, security analysis, and data science, coupled with first-hand knowledge of the daily challenges faced by security operations teams, led us to create our flagship product: Siemplify Security Operations Platform, the industry Leading independent SOAR platform.

Product/service/platform/solution background:

The Siemplify security operation platform aims to become the "operating system" of the SOC. It can help analysts improve efficiency, improve engineer efficiency, and let managers know more about SOC. Unlike other SOAR platforms that mainly focus on script building and automation, Siemplify is truly designed to manage the entire security operation function from end to end (think Workday for HR or Salesforce for sales).

Why New York? What are its advantages? How is the market different from Israel? How is the competition different?

The American market is the holy grail of Israeli tech startups. In particular, the New York market is huge and mature, and there are opportunities for customers and partners in every corner, including a closely integrated and rapidly growing ecosystem in the hot network security field. There are countless non-stop flights to and from Tel Aviv, with only a small time difference, which also makes New York an attractive location for Israeli startups, especially when compared to Silicon Valley.

But with the benefits comes...challenging. The United States can be said to be the most competitive market in the world, and cyber security is one of its fastest-growing industries. Just last year, approximately $11.5 billion in venture capital funds flowed into the field to help support hundreds of startups. This means you are always online. You need to always be committed to solving customer challenges, constantly innovating and providing impeccable service. Fortunately, our industry can easily cope with this situation. We are doing something fundamentally good to help protect the organization from highly professional cybercriminal groups, so this is an additional incentive.

You learned two things about the U.S. market from your operations in New York:

1) Nothing can compare to the courage and hardship of New York. It is contagious and makes you want to win. It is true that Covid-19 has suppressed the typical hustle and bustle of this city, but it is making a comeback. It inspires you to have a crush every day, even if you feel overwhelmed or defeated.

2) You are always in contact. New York can be easily reached through multiple airports. The social scene is conducive to the incredible network. There are so many skilled entrepreneurs ready and willing to share suggestions. Everything seems to be a few subway stops away. This city is home to many of the world's largest companies (that is, future customers).

By starting operations there, you learned two things about American investors:

1) East Coast investors tend to be attracted to East Coast companies, and vice versa occurs on the West Coast. This is why it is beneficial to spend time outside of New York. Talk about it later!

2) Earlier, I mentioned the vibrant internet scene in New York. Take this opportunity to reach out to potential investors. But before you reach out, do your homework. Investors are particularly impressed by entrepreneurs, and they offer a strong reason why they are very suitable for venture capital investment portfolios.

Regarding what to do in New York, two suggestions for Israeli entrepreneurs:

1) Visit Times Square once. Then never again. (Just kidding... kind of.) To be honest, New York is charming, but it can also be too exciting. When it becomes too much, try to stay away from the hustle and bustle, even if it means strolling along the river or one of the city’s many beautiful parks.

2) When it comes to getting rid of the sensory burden of New York, a particularly useful destination is Silicon Valley. Even if you are not actively raising funds, spend some time in the Bay Area on a regular basis (perhaps quarterly). Change coffee to beer (SF is cooler!) and meet investors and potential partners.

On a scale of 1-10, how much impact does the Covid pandemic have on your work?

When you are in charge of a thriving start-up company, it is easy to become a workaholic. But if Covid-19 has taught us anything, the moon will always be there. Some things are more important than work. At Siemplify, this pandemic has undoubtedly forced us to reflect more on the personal struggles that people experience, not only in the face of deadly viruses, but also in all aspects of life. Zoom fatigue is real. Burnout is real. Mental health is the most important.

What is the difference in hiring employees?

In keeping with the tone of the city, prospective employees in New York are energetic, motivated, and have a sense of mission. The talent pool is extensive and diverse. Of course, this will lead to fierce competition for the best and brightest. This forces, especially start-up companies, to separate themselves from the group.