Thursday, May 30 2024

Cybersecurity venture funding and merger activity: This week’s largest deals were MDR and security automation investments, as MSP consolidation continues to attract corporate buyers.

Funding

Cork, Ireland-based, data encryption company Valutree acquired $12.8 million in their series A funding round, led by investors Molten Ventures and Ten Eleven Ventures. Funds will be used to expand Valutree’s team, speed up releases, and strengthen security measures.

Drata, a security monitoring and compliance automation platform, secured $200 million in series C funding with the help of investors ICONIQ Growth and GGV Capital. This additional funding has upped Drata’s value to $2 billion, and funds will be utilized to compensate for its expanding consumer base.

Interpres Security, a NC-based threat-based cybersecurity platform, raised $8.5 million in seed funding led by Ten Eleven Ventures.

Vancouver-based mobile security company Expeto obtained $12 million in series B funding round led by Utah based investor Sorenson Capital, bringing their total financing up to $20 million.

Second Front Systems (2F), a public benefit security software company, ended their series A funding round with $32 million, co-led by investors Moore Strategic Ventures and AEI Horizon X. This will be allocated towards expanding their talent and increasing cybersecurity testing.

Field Effect, a Canada-based Managed Detection and Response (MDR) cybersecurity provider, grows their financing to $34.5 million after the most recent funding round with the help of Canadian investor Round13 and American investor Edison Partners.

Bitwave, a San Francisco, CA-based enterprise-focused platform for management of cryptocurrency tax, accounting and compliance, closed a $15 million Series A funding round led by Hack VC and Blockchain Capital, with participation from SignalFire, Valor Equity Partners, Arca, Pulsar Trading and Alumni Ventures Blockchain Fund.

Invent Analytics, a Philadelphia, PA-based retail planning solutions provider, raised $7.5 million in a Series A funding round led by EBRD (European Bank for Reconstruction and Development), with participation from Collective Spark.

Gaia AI, a Somerville, MA-based AI and robotics centric forestry startup, closed a $3 million round of pre-Seed investment, led by E14, with participation from Ubiquity Ventures, Space Capital and SOSV’s HAX.

Rezonate, a Boston, MA-based cloud core identity and access company, raised $8.7 million in a round led by State of Mind Ventures and Flybridge, with participation from Day Ventures and Merlin Ventures.

 

Mergers and Acquisitions

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