Ehud Schneorson is leaving Paragon to join Ribon, a new Israeli cyber startup. Ribon was co-founded by Idan Nurick and is reportedly valued at more than $1.5 billion. The venture has raised about $200 million across several funding rounds to build digital sovereignty tools for companies and governments.
Leadership change
Schneorson co-founded Paragon in 2019 and previously commanded IDF intelligence Unit 8200. He will remain an advisor to Paragon while working at Ribon. Nurick and another security community founder developed the new venture in recent months.
Paragon's new structure
AE Industrial Partners acquired Paragon in December 2024 in a deal valued at up to $900 million. The firm was combined with U.S. cyber company REDLattice. The group is now pursuing a Nasdaq listing through a merger with Bold Eagle Acquisition Corp.
What Ribon builds
Ribon is developing a cyber system in the digital sovereignty field. The technology is designed to help companies and states control their cyber and software supply chains. Investors such as Sequoia have made early funding commitments, according to the reports.
Paragon said Israel will remain the center of its research, development, and innovation. The combined group reported $267 million in revenue for the 12 months through June 2026. The Nasdaq listing is expected under the ticker REDL, subject to the necessary approvals.
Read more: globes.co.il