BDS-1000 Dossier: Fiverr International Ltd.

Entity: Fiverr International Ltd. (NYSE: FVRR) | Audit Cycle: BDS-1000 V4 | Research Currency: June 2026 BRS Score: 561 - Tier C (High)

Key Findings

• Economic: Fiverr is an Israeli-founded, Tel Aviv-headquartered public company with roughly 78% of its global workforce in Israel and Preferred Technology Enterprise tax status yielding an approximate 12% effective rate on IP-attributed income, alongside continued acquisition of Israeli technology firms (Stoke Talent, 2021; AutoDS, 2024).¹²³
• Political: Fiverr co-founded and headquartered the “Lev Echad” wartime volunteer initiative from its Tel Aviv offices from October 2023, mobilizing tens of thousands of volunteers to support a beneficiary base described in primary reporting as including both civilians and military personnel.⁴⁵⁶
• Governance: Two Fiverr board members held senior leadership roles decades ago at Israeli firms with defence-sector activity - NICE Systems (Ron Gutler, Chairman 2002–2013) and Koor Industries (Jonathan Kolber, CEO 1998–2007) - but both roles predate their Fiverr board service, both companies’ defence-relevant divisions were subsequently divested or sold onward, and no supply relationship between Fiverr and any defence prime has been identified.⁷⁸
• Not found: No contract, tender, or supply relationship between Fiverr and the Israeli Ministry of Defence, IDF, or any defence prime has been identified, and Fiverr does not appear in the OHCHR settlement-business database or the UN Special Rapporteur’s 2025 “economy of genocide” report.⁹¹⁰

Target Profile

Key Facts:

• Founded in Israel in 2010 by Micha Kaufman and Shai Wininger¹¹
• ~78% of ~700+ global employees are based in Israel (Tel Aviv and Haifa)¹
• United States is the largest single revenue market (~60–65%); Fiverr does not disclose Israel as a distinct revenue market¹
• Registered under Israel’s Preferred Technology Enterprise (PTE) tax track (~12% effective rate on qualifying IP income)¹
• Not named in the OHCHR settlement-business database, UN Special Rapporteur report A/HRC/59/23, or Who Profits⁹¹⁰¹⁵

Executive Summary

Fiverr International Ltd. is a digital freelance-services marketplace, founded in Israel in 2010 and listed on the NYSE since 2019 through a Cayman Islands holding structure. It manufactures nothing physical, holds no defence contracts, and does not appear in any of the principal UN or NGO accountability databases tracking companies operating in Israeli settlements or supplying Israel’s military-industrial base - the OHCHR settlement-business database, the UN Special Rapporteur’s July 2025 “economy of occupation to economy of genocide” report, the PAX for Peace companies-arming-Israel report, or Who Profits.⁹¹⁰¹⁵ Across the direct military-supply and digital-infrastructure vectors, the audits found systematically negative results: no procurement relationship with the Israel Ministry of Defence, IDF, Israel Prison Service, or Israel Border Police; no dual-use products; no role in construction, demolition, or infrastructure in occupied territory; and no participation in Project Nimbus or comparable state cloud/surveillance programmes.

The company’s most significant documented nexus is structural and civic rather than transactional: Fiverr is an Israeli-domiciled company in substance, with its headquarters, senior leadership, and roughly 78% of its global workforce concentrated in Tel Aviv and Haifa, and it benefits from Israel’s Preferred Technology Enterprise tax regime, which channels IP-attributed profit to the Israeli treasury at a preferential rate.¹ Following the October 7, 2023 attacks, Fiverr co-founded and hosted the “Lev Echad” (One Heart) wartime volunteer initiative at its Tel Aviv headquarters, an operation that primary reporting describes as serving a beneficiary base including both displaced civilians and members of the military, and which included transportation and logistical support for security-forces personnel and their families.⁴⁵⁶ Fiverr’s FY2024 annual filing separately discloses that some of its own employees have been called to active military duty, with the company acknowledging resulting operational risk.¹ A second, more attenuated governance vector concerns two non-executive board members - Ron Gutler and Jonathan Kolber - whose careers, well before their Fiverr board tenures, included senior leadership of Israeli firms (NICE Systems and Koor Industries, respectively) with historical ties to Israeli defence electronics; in both cases the defence-relevant business lines had been divested, sold, or restructured away from the individuals’ direct control by the time of or shortly after their tenures, and no ongoing supply chain link between Fiverr and any defence prime descending from these historical roles has been identified.

Set against this is a substantial body of negative findings that the dossier must weigh equally. Fiverr is not named in any of the major UN or NGO accountability instruments tracking the Israeli occupation economy.⁹¹⁰¹⁵ No export-control violation, sanctions action, or litigation involving Fiverr’s alleged defence or occupation-economy conduct has been identified in any jurisdiction. Fiverr’s 2022 “Support Ukraine” programme - a dedicated storefront, expedited payouts, and charitable fee redirection for Ukrainian sellers - has no documented Palestinian or Gazan analogue, a comparison the audits note but do not resolve into any documented policy of exclusion.¹⁶¹⁷ Anecdotal, unverified claims of seller-account suspensions linked to mentions of Gaza or Palestine appear in secondary advocacy sources and community forum posts, but no NGO investigation, regulatory inquiry, or corroborating primary documentation was located, and this claim is carried here strictly as unverified.¹⁸¹⁹ Similarly, a widely circulated claim that Fiverr uses the Israeli biometric-verification firm AU10TIX for seller identity checks is treated by the underlying audits inconsistently: one domain audit treats a commercial relationship as established in connection with a documented multi-platform data breach, while a separate, more granular check of the specific source material found no mention of Fiverr and could not substantiate any AU10TIX–Fiverr relationship. This dossier carries that claim as contested and unresolved rather than adopting either conclusion.²⁰

The resulting BDS-1000 V4 score is BRS 561, Tier C (High), driven almost entirely by the Economic domain (V=8.00), reflecting Fiverr’s structural economic integration with the Israeli state and technology base, and by Political (V=4.46), reflecting the Lev Echad wartime mobilization and a board member’s individual participation in an IDF-adjacent information-operations presentation. Military (0.31) and Digital (0.12) remain low, reflecting the near-total absence of direct military-supply or state-surveillance-infrastructure evidence once historical, divested, or unsubstantiated claims are excluded.

Timeline of Relevant Events

Corporate Overview

Fiverr International Ltd. is the ultimate parent entity, incorporated in the Cayman Islands as a holding vehicle for its 2019 NYSE listing - a standard structure for Israeli technology companies seeking US capital-markets access.¹¹ The company’s de facto centre of operations, and what the underlying audit characterizes as its place of effective management, is its Tel Aviv headquarters at 8 Eliezer Kaplan Street, alongside a secondary Haifa R&D centre at the Matam technology park (opened 2018).¹ Fiverr maintains additional offices in the United States (New York, San Francisco), Germany (Fiverr GmbH), and the United Kingdom (Fiverr UK Ltd.).¹ No Fiverr office, subsidiary, or physical presence has been identified within the West Bank, East Jerusalem, the Golan Heights, or Gaza.¹³²

Fiverr has grown via acquisition of Israeli technology companies: Stoke Talent Ltd., an Israeli freelance-management platform, acquired November 2021 for $95 million and subsequently shown as “eliminated due to merger” in the Israeli Companies Registrar, indicating full post-acquisition integration;³²² and AutoDS Ltd., a Tel Aviv-headquartered dropshipping-automation company, acquired July 31, 2024, with reported deal values ranging from approximately $55.7 million to $92 million across sources.²³³ In November 2025, Fiverr announced acquisition of Digis Group, a Ukrainian IT holding company (~220 employees) for an estimated $9–14 million; regional press described the acquirer as “Israeli Fiverr,” though the acquired entity itself is Ukrainian rather than Israeli.²⁹ No franchise, reseller, or dealership relationship with any Israeli settlement enterprise has been identified. Fiverr does host individual freelance seller profiles that list “West Bank” as a stated location - a platform-level fact distinct from any corporate operational presence, since Fiverr does not vet or label sellers’ location for country-of-origin or settlement-status purposes.³⁴

Governance sits with a standard public-company board; Bessemer Venture Partners has held one seat since January 2011 via partner Adam Fisher but is explicitly not a controlling shareholder, and no single party controls the board or shareholder base.¹³²¹ CEO Micha Kaufman holds approximately 6–7% of shares along with a Founder Share instrument granting veto rights over mergers, acquisitions, and charter amendments - a standard founder-protective governance device in dual-class structures.¹¹¹ No Israeli government ownership stake, government-appointed board member, or government contract has been identified.¹

Domain Summaries

Military: Military

Mechanism of Involvement

Fiverr has no manufacturing capacity and no identified role, at any tier, in defence contracting, dual-use goods, construction/infrastructure, or weapons-systems supply chains. The company’s principal offices sit at the southern boundary of HaKirya, the Tel Aviv compound housing IDF General Staff headquarters and the Ministry of Defence - a geographic-proximity fact that the underlying audit is explicit does not constitute a supply, contractual, or intelligence-sharing relationship.¹ The most substantive military-adjacent facts documented are: (1) Fiverr’s FY2024 annual filing disclosure that some of its employees are active-duty IDF reservists, with the company acknowledging this creates an operational risk, and CEO Kaufman’s Q3 2023 earnings-call statement that the company was “ensuring their families will get what they need while they are on the front lines”;¹²⁴ and (2) Fiverr’s co-founding of the Lev Echad wartime initiative, which per the NoCamels report and the official Lev Echad website served “both civilians and members of the military,” including transportation logistics and support for “families of injured soldiers, and families of reserve and career soldiers.”⁴⁵

Counter-Arguments and Evidence Limits

No verified contract, tender, or MOU between Fiverr and the Israel Ministry of Defence, IDF, Israel Prison Service, or Israel Border Police exists in any accessible record, and systematic review of the OHCHR settlement database, the UN Special Rapporteur report, and comparable civil-society and NGO accountability databases confirms Fiverr’s absence from all of them.⁹¹⁰ Fiverr’s SEC filings contain no dual-use, export-control, or munitions-list disclosures, consistent with its status as a pure digital-services company.¹¹ A claim, circulated in secondary advocacy material, that Fiverr’s headquarters served as a distribution hub for ceramic vests, helmets, or reconnaissance drones could not be verified against any primary source and is excluded from this dossier as unsubstantiated. Board-level historical connections to Israeli defence electronics (see below) both predate Fiverr board service and post-date the individuals’ departure from operational control of the defence-relevant business lines.

Named Entities and Evidence Map

• Ron Gutler (Lead Independent Director) - Chairman, NICE Systems Ltd., May 2002–February 2013. NICE was founded by engineers who developed IDF logging/recording software and initially targeted defence markets, but exited that business by approximately 2003, early in Gutler’s chairmanship; NICE’s Cyber and Intelligence division was sold to Elbit Systems for $157.9 million in April 2015 - more than two years after Gutler’s chairmanship ended.⁷⁸ No supply relationship between Fiverr and Elbit Systems has been identified.
• Jonathan Kolber (board member) - President/CEO, Koor Industries Ltd., ~1998–2007, during which Koor held the Elisra Defence Group and Tadiran Communications, both IDF electronics suppliers; in 2004 Koor repurchased a 33% Tadiran stake to merge it with Elisra, with Kolber quoted supporting “the merger of Israel’s leading private defense sector.” Elbit Systems subsequently took majority stakes in both entities. All activity predates 2020 and Kolber’s Fiverr board tenure; he divested from Koor before joining Fiverr’s board.⁸
• Lev Echad / One Heart - Fiverr, HiBob, and monday.com; Tel Aviv HQ; documented civilian-plus-military beneficiary base.⁴⁵⁶

Digital: Digital

Mechanism of Involvement

Fiverr is a confirmed customer - not a supplier - of two Israeli cybersecurity vendors: Orca Security (cloud-security visibility for AWS environments) and Wing Security (SaaS vendor-risk assessment, founded by former IDF Chief CISO and IDF Cyber Operations personnel), per case studies dated 2021 and July 2023 respectively.³⁵³⁶ Fiverr’s own CISO has been quoted describing Orca’s value for securing Fiverr’s cloud assets.³⁷ Fiverr operates a mandatory seller identity-verification pipeline requiring government ID and biometric/facial-recognition liveness checks; the underlying facial-recognition vendor is not publicly disclosed by Fiverr.³⁸³⁹

Counter-Arguments and Evidence Limits

No public evidence identified of Fiverr operating or leasing data-centre infrastructure in Israel, participating in Project Nimbus or any comparable Israeli state cloud programme, or providing AI, surveillance, or autonomous-systems technology to Israeli military, intelligence, or law-enforcement bodies. Fiverr is notably absent from Amazon’s own August 2023 press release naming Israeli companies and government bodies using the newly launched AWS Israel Region.⁴⁰ A widely circulated claim that Fiverr uses AU10TIX (an Israeli biometric-verification firm and ICTS International subsidiary linked to a 2022–2024 multi-platform data breach) is contested across the audit record: one domain audit treats the vendor relationship as established in connection with the breach, while a separate, more granular sourcing check found no mention of Fiverr in the specific AU10TIX material cited and could not substantiate any commercial relationship. This dossier treats the claim as unresolved and does not adopt either conclusion as fact.²⁰⁴¹ Fiverr does not appear in the UN OHCHR settlement-business database (confirmed independently via the OpenSanctions mirror) or the Who Profits database.⁴²¹⁵ A 2026 data-breach report alleging exposure of user tax and identity documents via a third-party cloud vendor has not been confirmed by Fiverr.³¹

Named Entities and Evidence Map

• Orca Security - confirmed cloud-security customer relationship, case study dated ~2021, current status not independently reconfirmed.³⁵³⁷
• Wing Security - confirmed SaaS-security customer relationship, case study dated July 2023.³⁶
• Ron Gutler - board member of CyberArk Software Ltd. from July 2014 until its February 2026 acquisition by Palo Alto Networks; documented as a board-interlock disclosure, not evidence of any commercial relationship between Fiverr and CyberArk.³⁰
• AU10TIX - disputed/unresolved vendor-relationship claim (see above).²⁰⁴¹

Economic: Economic

Mechanism of Involvement

Fiverr is an Israeli-founded, Israeli-headquartered public company with approximately 78% of its global workforce based in Tel Aviv and Haifa, and it is registered under Israel’s Preferred Technology Enterprise tax track, reducing its effective corporate tax rate on qualifying IP-attributed income to approximately 12%.¹ Fiverr maintains an ongoing regulatory relationship with the Israel Innovation Authority for R&D tax-deduction approvals, though specific grant amounts are not publicly disclosed.¹ The company has directed substantial capital into Israeli-domiciled companies post-IPO: the $95 million Stoke Talent acquisition (2021) and the AutoDS acquisition (2024, reported at up to $92 million).¹³² Under the PTE regime, IP-attributed profits flow into Israel and are taxed there, with transfer pricing explicitly disclosed as a risk factor subject to Israel Tax Authority review.¹ The platform additionally hosts individually listed freelance seller profiles self-identifying their location as “West Bank,” representing a platform-level nexus distinct from any corporate operational presence.³⁴

Counter-Arguments and Evidence Limits

Fiverr sells no physical goods, has no importer-of-record structure in any jurisdiction, and country-of-origin labeling regulations do not apply to its business model.¹ Israel is not disclosed as a distinct revenue market in Fiverr’s financial reporting - the company presents a single global revenue pool, with the United States identified as the largest single market (~60–65% of revenue) - meaning Israel functions in Fiverr’s own disclosures as an engineering and innovation hub rather than a sales market.¹ No Israeli government ownership stake or government-appointed board member has been identified.¹ Fiverr’s 2024 Impact Report contains no geographic-origin disclosure policy addressing sellers located in occupied or contested territories, and no public evidence exists of any corporate labeling or exclusion policy specific to settlement-area sellers - this is documented as a gap in disclosure rather than as an affirmative finding of wrongdoing.²⁸

Named Entities and Evidence Map

• Israel Innovation Authority - ongoing R&D tax-deduction relationship; amounts undisclosed.¹
• Preferred Technology Enterprise regime - ~12% effective tax rate on IP income.¹
• Stoke Talent Ltd. (Israeli, acquired 2021, $95M; subsequently merged/eliminated in Israeli registrar) and AutoDS Ltd. (Israeli, Tel Aviv, acquired 2024, up to $92M).³²²²
• Individual seller profile(s) listing “West Bank” location.³⁴

Political: Political

Mechanism of Involvement

Fiverr co-founded and headquartered the Lev Echad (One Heart) wartime volunteer initiative at its Tel Aviv HQ from October 2023 alongside HiBob and monday.com, mobilizing a volunteer force reported at 30,000 rising to roughly 50,000 across more than twenty physical aid locations, serving a beneficiary base described in primary reporting as including displaced Israeli civilians and, per NoCamels, members of the military, with costs covered by the founding companies and the coordination platform donated by monday.com.⁴⁵⁶⁴³ Board member Adam Fisher, a Bessemer Venture Partners partner and head of its Tel Aviv office, delivered a presentation on November 22, 2023 to IDF leadership and Israeli tech-sector figures - alongside a uniformed IDF spokesperson - on tactics for the pro-Israel social-media “information war,” including a slide targeting pro-Palestinian voices and a documented false claim about NGO reactions to October 7; no source ties this individual presentation to Fisher’s Fiverr board role or to Fiverr as a company.¹³²⁶ Fiverr is listed in Startup Nation Finder, an Israeli tech-ecosystem promotional database.⁴⁴⁴⁵

Counter-Arguments and Evidence Limits

CEO Micha Kaufman’s most substantive on-record political statement - “the worst value destruction in Israel’s history” - concerned Israel’s 2023 judicial-overhaul crisis, not the Israel-Gaza war.²³ Fiverr’s only identified standalone corporate statement on October 7 appeared within a Q3 2023 financial risk disclosure, not as a geopolitical position statement, and stated the business “is conducted primarily outside of Israel” - a framing in tension with its Israel-concentrated workforce.²⁴²⁵ No subsequent standalone corporate statement on the war has been identified. No public evidence identified of Fiverr-registered federal lobbying activity, a Fiverr-affiliated PAC, or direct corporate donations to FIDF, JNF/KKL, Regavim, Im Tirtzu, or settlement organizations - a finding corroborated even by the most critical secondary source reviewed.³⁹ OpenSecrets data shows Fiverr received ~$19,487 from political campaigns in the 2024 cycle as a vendor (i.e., campaigns using Fiverr’s marketplace), not evidence of Fiverr political spending.⁴⁶ Fiverr does not appear in the OHCHR settlement database (2023 or 2025 updates), the UN Special Rapporteur report, or the Al-Haq/Profundo “Don’t Buy into Occupation” company lists.^910324748 Fiverr’s 2022 “Support Ukraine” programme (dedicated storefront, expedited seller payouts, charitable fee redirection) has no documented Palestinian/Gazan analogue, though no evidence establishes an affirmative policy of exclusion.¹⁶¹⁷ Claims of seller-account suspensions tied to Gaza/Palestine mentions rest solely on unverified social-media posts and secondary aggregator characterization, with no NGO investigation or regulatory inquiry corroborating them, and are carried here as unverified.¹⁸¹⁹ A characterization of Kaufman as holding a specific pro-IDF political stance, sourced only to an activist social-media account without independently verified quotes, is treated as weakly sourced and is not adopted as fact.

Named Entities and Evidence Map

• Lev Echad / One Heart - Fiverr, HiBob, monday.com; Tel Aviv HQ; ~30,000–50,000 volunteers; mixed civilian/military beneficiary base; ongoing status as of mid-2026 not confirmed.⁴⁵⁶⁴³
• Adam Fisher (board member since Jan. 2011, Bessemer Venture Partners) - individual participation in November 2023 IDF-linked information-operations presentation; not tied to Fiverr corporate action.¹³²¹²⁶
• Startup Nation Finder - ecosystem-directory listing only; no formal state-honors or “Brand Israel” sponsorship documented beyond this.⁴⁴⁴⁵

BDS-1000 Score (V4)

• V_MAX: 8.00 Sum_OTHERS: 4.89
• BRS Score: 561 Tier: C (High)

V_MAX is set by Economic (8.00), reflecting Fiverr’s high-magnitude, high-directness structural economic integration with the Israeli state and technology base - Tel Aviv headquartering, an overwhelmingly Israel-based workforce, preferential PTE tax treatment, and sustained capital deployment into Israeli acquisitions - combined with a documented, if secondary, Political contribution (4.46) from the Lev Echad wartime mobilization and board-level individual conduct. The comparatively low Military and Digital scores reflect that, once historical/divested board connections and unsubstantiated vendor claims are excluded, no direct military-supply or state-surveillance-infrastructure nexus survives verification. The combination yields a BRS of 561, placing Fiverr in Tier C (High).

Methodology Note

• Every claim in this dossier traces to one of the four BDS-1000 domain audits (Military, Digital, Economic, Political); where an audit found nothing, this dossier states “No public evidence identified” rather than inferring absence of any relationship.
• Scoring is scale-free and evidence-only: Impact (I) reflects the type of activity documented, Magnitude (M) reflects its scale, and Proximity (P) reflects directness of the company’s connection to the documented conduct.
• A temporal mitigation rule applies: board members’ historical, pre-Fiverr defence-sector roles (NICE Systems, Koor Industries) were treated as materially mitigated because the relevant business lines were divested, sold onward, or exited before or shortly after the individuals’ tenures, and no ongoing supply relationship descends from them.
• Entity attribution follows a no-transitive-guilt standard: board-interlock or vendor-relationship disclosures (e.g., CyberArk board seat, Orca/Wing Security customer relationships) are documented as governance or procurement facts, not treated as equivalent to a corporate commercial or defence relationship absent direct evidence.
• Where a fact is contested between audits (e.g., the AU10TIX vendor-relationship claim), this dossier preserves the disagreement explicitly rather than adopting the more serious reading.
• Settlement-adjacent or dual-relevance facts (e.g., platform-hosted West Bank seller listings) are scored under Economic per their economic character; this dossier does not identify a qualifying settlement-operation fact pattern requiring dual Economic/Political counting for Fiverr specifically.

End Notes