Wednesday, April 24 2024

Cybersecurity Venture Funding and Mergers: This week, notable funding and M&A activity involved compliance, enterprise security, and vulnerability assessment firms.

Funding

Bobby Balachandran, president and CEO of Exterro

Exterro, a legal governance, risk, and compliance software provider, completed a strategic recapitalization valuing the firm at over $1 billion. The company, currently owned by Leeds Equity Partners, is targeting a potential 2023 initial public offering.

Island, an enterprise browser security company, received a $10 million investment in a Series B fundraise from Cisco. The investment supplements Island’s recent $115 million Series B funding round.

Decentralized cybersecurity solutions provider Naoris Protocol raised $11.5 million in funding from multiple Silicon Valley investors including Tim Draper’s Draper Associates, Holt Xchange, Holdun Family Office, Holdun Opportunity Fund, and more.

Sotero, a data security solutions provider, secured an $8 million extension of their seed funding round, which totals $13 million. The round was led by OurCrowd, with participation from existing investors Gutbrain Ventures, PBJ Capital, and Boston Seed Capital.

Italian cybersecurity firm Gyala closed a €5 million funding round led by CDP Venture Capital, with Azimut Digitech Fund of Azimut Libera Impresa SGR as a co-investor.

M&A

Brian McManamon, president and CEO of TECH LOCK

Compliance and risk management solution provider for the healthcare industry Clearwater acquired TECH LOCK, a provider of security management, threat detection, incident response, and compliance services.

Cybit Sec, a vulnerability assessment and penetration testing company, was acquired by ReSecurity, a Los Angeles-based cybersecurity company.

HUMAN Security, a cybersecurity company that safeguards enterprises bot attacks and fraud, has merged with application security company PerimeterX.

Read more cybersecurity M&A and funding updates from SecureDisruptions here.

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