Cisco Systems is engaged in advanced discussions to acquire Zafran Security, an Israeli cybersecurity startup, for a sum ranging from $150 million to $200 million. If finalized, the transaction would value the company significantly lower than its last funding round, which placed its worth above $200 million in December 2025.
Zafran has raised more than $130 million to date with support from investors including Sequoia, Menlo Ventures, and Cyberstarts.
Zafran has publicly denied that it is negotiating a sale. The company states that Cisco is making a strategic investment and that it intends to pursue another large funding round. This position has drawn scrutiny, particularly following the recent departure of co-founder and Chief Product Officer Snir Havdala.
Havdala announced on LinkedIn that he has joined Nvidia as Director of Engineering to lead the development of AI agents for the company’s infrastructure.
Havdala described his time at Zafran as an extraordinary experience that taught him valuable lessons about technology, product, and leadership. He did not mention his co-founders, Sanaz Yashar and Ben Seri, in his farewell message. Zafran did not issue a separate announcement regarding his departure.
Industry sources indicate that Zafran has spent the past several months exploring a sale. The company develops software to identify and prioritize vulnerabilities in enterprise security environments. It competes in a crowded market that includes established firms such as Palo Alto Networks, CrowdStrike, Microsoft, and Cisco, as well as specialists like Tenable and Qualys.