Wednesday, April 24 2024

Cybersecurity venture funding activity and mergers and acquisitions: This week’s most sizable deals included AI powered security service providers and computing platforms.

Funding

Threat solutions provider for cryptocurrency Cloudburst Technologies raised $3 million in the seed funding round led by Strategic Cyber Ventures in order to help build on their current technology.

HUB Security, a confidential computing platform, entered an agreement for up to $16 million in gross proceeds from Lind Global Asset Management to fuel its growth and enhance stability.

IT services and security provider Sourcepass raised $65 million in their most recent round of funding led by Metropolitan Partners Group to further their technological initiatives like Quest.

AaDya Security, a data management service, raised $5 million in its Series A funding round led by Left Lane Capital to fill in key leadership positions within the company.

Mergers & Acquisitions

Sourcepass announced their seventh acquisition in the past year of the Virginia-based solutions provider Proxios alongside their funding round announcement. This acquisition will allow Sourcepass to expand their presence in the mid-Atlantic and deepen their prortfolio.

Smile Identity, an Africa-based identity verification platform, acquired Inclusive Innovations, parent company of financial identity data company Appruve, to expand their customer base in Africa.

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