Monday, April 22 2024

Cybersecurity venture funding activity and mergers and acquisitions: This week’s most sizable deals included AI-monitoring, automation, fraud prevention providers, and healthcare data protection.


Galvanick, a Los Angeles based company which provides cyber attack protection for industrial infrastructure, acquired $10 million in seed funding for its industrial cybersecurity platform. Major investors included MaC Venture Capital, Founders Fund, Village Global, Countdown Capital, Hanover Technology Investment Management, Shrug Capital, 8090 Industries, and more. Funds will be used to make core hires and expand use of its initial product.  

Deep Sentinel, an AI-powered video monitoring provider, announced a $15 million round of funding led by Intel Capital, with participation from Shasta Ventures, Slow Ventures, UP2398, and Jason Calacanis’ The Syndicate.

Hopr, a company which provides automated moving target defense security solutions for cloud assets, secured $500K in funding from Maryland Technology Development Corporation, or TEDCO. TEDCO has invested an additional $300K after their initial investment of $200k from last year. 

San Francisco based tech company Demox Labs, raised a $4.5 million pre-seed funding round and debuted Leo Wallet, a first-of-its-kind privacy-focused cryptocurrency wallet for use with the Aleo blockchain. The funding round was led by HackVC with participation from DCVC, Amplify Partners, Coinbase Ventures, CRV, OpenSea, and CSquared. Funds will be used to support its new secure cryptocurrency wallet.

Keep Aware, an Austin, Texas based startup creating a human-centric approach to browser security, obtained $2.4 million in seed funding led by LiveOak Venture Partners, with participation from Runtime Ventures and other prominent angel investors in the cybersecurity industry. Funds will be used to institute go-to market programs and advance product development.

Elba, a Paris based cybersecurity firm working towards empowering employees to tackle cyber threats, raised $2.6 million in a seed round with help from Berlin and Paris based VC firm, XAnge. Funds will be used for Research & Development, with the aim of enhancing the end-user experience and integrating with new apps. 

Squint, a San Jose, California based technology platform that uses augmented reality (AR) to optimize factory procedures and empower operators, raised $6 million in seed and pre-seed funding from Arc, Sequoia Capital, Menlo Labs, and several angel investors. 

French API security platform Escape raised $3.8 million in seed funding led by IRIS, Frst, Irregular Expressions, Tiny Supercomputers, and Kima Ventures. Funds will be used by Escape to double its team’s size, hire international sales specialists and engineers and develop new security features.

Mergers & Acquisitions

Networking giant Cisco acquired Armorblox, a cybersecurity startup, to help protect email, cloud and office applications and enterprise communication systems. Cisco plans on using Armorblox’s natural language processing, predictive and generative AI capabilities to help its customers better understand the security risks they face.

Agile Defense, a portfolio company of Enlightenment Capital, purchased XOR Security, a cyber operations and engineering firm as part of efforts to broaden its cybersecurity offerings for defense and national security customers.

Phoenix Equity will fund a growth plan for Logiq, an upcoming UK cyber security company. Phoenix Equity aims to expand the cyber consulting company into new-end markets.

Bangalore, India based company eMudhra is expanding to the United States through the acquisition of Houston, Texas based digital transformation and cybersecurity solutions provider Ikon Tech. This acquisition will increase eMudhra’s access to the U.S. customers.

Private equity firm SGT Capital acquired Germany based secure access management company Elatec, which offers secure access management solutions for both physical and digital security infrastructure.

Healthcare IT and cybersecurity solutions company Anatomy IT acquired IRIS solutions, a healthcare technology service provider. This acquisition allows Anatomy IT to increase its presence in the ambulatory healthcare sector and bring its cybersecurity solutions to a broader range of healthcare clients.

Blattner Tech, a data analytics, artificial intelligence, and machine learning firm, acquired Jigsaw Security Enterprise, a provider of threat intelligence capabilities. Blattner Tech hopes to use this acquisition to improve its cybersecurity capabilities and expand into the Machine Learning (ML Sec) space.

Developer and security provider Synk acquired application security startup Enso Security for an estimated $45 million to $50 million. Synk seeks to strengthen its developer security platform for software applications.

CBIZ, an Ohio based provider of financial, insurance, and advisory services, acquired information security consulting firm, Pivot Point for $6.6 million. With this acquisition, CBIZ intends to expand the breadth and depth of their cyber and security services.

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


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