Hila Zigman

Background

Hila Zigman is a General Partner at Cyberstarts, an early-stage venture capital firm investing exclusively in cybersecurity ¹. She was appointed to the role in November 2023 ².

Before joining Cyberstarts, Zigman was the founding Chief Product Officer at Noname Security, a Cyberstarts portfolio company specializing in API security ¹. At Noname, she built and scaled the product and engineering organizations from the company’s founding, led the development and product teams, and oversaw the Israeli headquarters ². She helped take the company to a market-leading position in API security with a Fortune 500 customer base ¹. Noname was acquired by Akamai in 2024 for approximately $450 million ³.

Prior to Noname, Zigman served as a business partner for the research, development, and product teams at NSO Group ². Earlier in her career, she served in Israel’s elite Military Intelligence Unit ¹. She holds a Bachelor’s degree from Bar-Ilan University and a Master of Science from Tel Aviv University ⁴.

Stated Thesis

Zigman has publicly stated that she partners with founders displaying “relentless curiosity, interpersonal sensitivity, and the capacity to shift between detailed analysis and broader perspective” ¹. She gravitates toward founders “who build movements and transform markets rather than simply creating products” ¹.

In her own words: “The founders who change the world don’t just build products — they spark movements, rewrite the rules, and see reality in ways others can’t” ¹.

On the investment focus, Zigman has emphasized AI security as a major emerging category. She has stated: “The shift of organizations toward a world in which AI systems become part of their operational infrastructure creates an entirely new attack surface” ⁵. She has noted that AI agents “are systems that make decisions, access sensitive information, and are integrated into critical business processes” ⁵.

Inferred Thesis

Zigman joined Cyberstarts as GP in November 2023, so her personal investment track record at the firm spans roughly two and a half years. Based on publicly attributed investments and board roles, she has been directly linked to at least one investment — Onyx Security (seed in 2024, where she sits on the board ^{6 7}). However, as a GP at a small-team firm (four GPs managing the full portfolio), she is involved across all Cyberstarts investments during her tenure.

Cyberstarts portfolio investments made during Zigman’s tenure (November 2023 onward), based on publicly reported dates:

Investments from late 2023 through March 2026 include: Linx Security (Series A, July 2024 ⁸), Zafran (Series B, July 2024 ⁸), Gambit (Seed, February 2025 ⁸), Blockaid (Series B, February 2025 ⁹), Onyx Security (Seed 2024 + Series A 2026 ^{5 7}), Surf AI (Seed + Series A, 2024-2026 ¹⁰), Vega (Seed through Series B, 2024-2026 ¹¹), and Upwind (Series B, January 2026 ¹²).

Sector focus: 100% cybersecurity — this is a firm-level constraint. Within cybersecurity, the investments during her tenure skew toward AI security (Onyx, Surf AI), identity security (Linx, Oasis), cloud security (Upwind, Vega), and threat exposure management (Zafran, Gambit).

Stage: Cyberstarts invests primarily at seed and pre-seed, then follows on through later rounds. The firm operates dedicated seed funds ($50-60M) alongside larger opportunity/scale funds for follow-on investments ¹³.

Geography: Investments are concentrated in Israel-founded companies with US presence. Based on Cyberstarts’ full portfolio, 15 of 21 investments are in US-headquartered companies and 6 in Israel ⁸.

Founder profile: Zigman has publicly noted her interest in founders from Israel’s military intelligence and cybersecurity ecosystem ¹⁴. The Cyberstarts model specifically targets founders fresh from military units and intelligence backgrounds ¹⁵.

Sample size is too small to compute meaningful personal statistics for Zigman alone. As a GP at a four-person partnership with a concentrated, cybersecurity-only portfolio of approximately 24 companies, her individual deal attribution is not distinguishable from the firm’s overall activity.

Portfolio

The following table lists Cyberstarts portfolio companies with publicly reported investment years. Zigman has been GP since November 2023; investments marked with * are confirmed during her tenure.

Exit status: Wiz (acquired by Google, $32B ¹⁶), Noname (acquired by Akamai, ~$450M ³), Bionic (acquired by CrowdStrike ¹⁷), Axis Security (acquired by HPE ¹⁷), Avalor (acquired by Zscaler ¹⁷), Dazz (acquired by Wiz ¹⁷), Trail (acquired by Cyera ¹⁷), Trustdome (acquired by Zscaler ¹⁷), Savvy (acquired by SailPoint ¹⁷).

In Their Own Words

“The founders who change the world don’t just build products — they spark movements, rewrite the rules, and see reality in ways others can’t.” — Hila Zigman, Cyberstarts website ¹

“I’m excited to embark on this new chapter with Cyberstarts, an ambitious venture capital firm that constantly surpasses industry benchmarks.” — Hila Zigman, on her appointment as GP, Calcalist, November 2023 ²

“The shift of organizations toward a world in which AI systems become part of their operational infrastructure creates an entirely new attack surface.” — Hila Zigman, commenting on Onyx Security investment, Calcalist, March 2026 ⁵

“AI is a revolution that will change everything, including how we work, but humans are still at the forefront.” — Hila Zigman, Mind the Tech Berlin 2025 conference panel ¹⁴

“Companies need to understand the battlefield is changing. They must adopt solutions that truly work for them in this new environment.” — Hila Zigman, Mind the Tech Berlin 2025 ¹⁴

“Cyberstarts was built on the belief that authentic relationships can transform markets. With Opportunity Fund II, we’re deepening our existing relationships with founders who are already reshaping the world and creating new pathways for continued innovation.” — Hila Zigman, Cyberstarts Opportunity Fund II announcement, September 2025 ¹³

What Founders Say

“During my time at Noname Security, the Cyberstarts team was my go-to resource, providing invaluable guidance as we navigated each phase of growth.” — Hila Zigman herself, describing her experience as a Cyberstarts portfolio founder before becoming GP, Calcalist, November 2023 ²

No other independently sourced founder testimonials specifically about Hila Zigman were found. Given her relatively recent appointment as GP (November 2023), founder testimonials about her individual contributions as an investor are limited in the public record.

Connections

• Board member, Onyx Security — alongside Sarah Guo (Conviction Partners), Yevgeny Dibrov (CEO, Armis), Nadir Izrael (CTO, Armis), and Gili Raanan (Cyberstarts) ⁶
• Former CPO, Noname Security (founding member through acquisition by Akamai in 2024) — worked with co-founders Oz Golan (CEO) and Shay Levi (CTO) ³
• Panelist, Mind the Tech Berlin 2025 — alongside Dr. Dorit Dor (Qbeat Ventures, former CTO at Check Point) and Tsofit Shachar (CISO, El Al) ¹⁴
• Former employee, NSO Group — business partner for R&D and product teams ²
• Israel Military Intelligence veteran ¹

Sources