Wednesday, April 24 2024

Recent cybersecurity companies that raised capital, announced mergers and acquisitions, or financial or strategic transactions. As strategic investors remain active, this week’s largest venture rounds involved familiar trends: third party risk, automation, data governance, and fraud prevention.

Funding

Cycode, an Israel-based security start-up specializing in securing DevOps pipelines and preventing code tampering, has raised $20 million in a Series A round led by Insight Partners, a venture capital firm focused on the software industry, with participation from seed investor YL Ventures.

Panaseer, a London-based provider of continuous control monitoring, has secured $26.5 million in a Series B round led by AllegisCyber Capital, a California-based venture capital firm. Investors include Evolution Equity Partners, Notion Capital, AlbionVC, Cisco Investments, Paladin Capital Group and new investor, National Grid Partners.

Arkose Labs, a provider of online fraud and abuse prevention solutions based in San Francisco, has raised $70 million in a Series C round led by SoftBank Vision Fund 2, a technology-focused venture capital fund, with participation from Wells Fargo Strategic Capital and previous investors M12 and PayPal Ventures.

Authomize, a cloud-based identity and security management platform based in Israel, recently closed a $16 million Series A early stage venture funding round led by Innovation Endeavors with contributions from Blumberg Capital, Entrée Capital, and Microsoft’s venture fund, M12.

BluBracket, California-based provider of code security solutions, secured $12 million in a Series A funding round led by Evolution Equity Partners, a New York- and Zurich-based capital investor specializing in the cybersecurity sector. The investor was joined by existing investors Unusual Ventures, Point72 Ventures, SignalFire and Firebolt Ventures.

Anvilogic, a California-based cybersecurity detection automation company, recently closed a $10 million Series A funding round headed by Cervin Ventures, a seed investor firm focused on the B2B software space. Additional participants included Foundation Capital, Point 72 Ventures and Dan Warmenhoven.

NetSPI, a cybersecurity penetration testing company based in Minneapolis, secured $90 million in growth funding. The round was led by KKR, with contribution from Ten Eleven Ventures.

Cyral, a California-based data security and governance startup focused on the modern data cloud and DevOps, raised $26 million in funding from existing investors Redpoint, Costanoa Ventures and A.Capital, as well as a strategic investment from Silicon Valley CISO Investments.

ArmorCode, a Palo Alto-based DevOps application security startup, raised $3 million in a seed round led by Sierra Ventures. Tau Ventures and Z5 Capital, as well as individual investors including Andreas Kuehlmann (CEO of Tortuga Logic) and Prithvi Rai (former Senior Director of Security at Uber, Facebook, and Yahoo!) also participated.

Mergers & Acquisitions

Accenture acquired the French cloud services provider, Linkbynet, which specializes in cloud security, cloud transformation, and cloud optimization, intending to further support clients’ cloud migrations and business transformations.

Fidelis Cybersecurity, the automated detection and response provider based in Bethesda, Maryland, acquired compliance and cloud security provider CloudPassage. San Francisco-based CloudPassage secures cloud infrastructures; its Halo platform unifies security and compliance. According to Anup Ghosh, CEO of Fidelis Cybersecurity, CloudPassage enables customers to “detect and respond to adversaries earlier in the attack lifecycle [and] raises the bar in Active XDR.”

Snyk, the open-source software vulnerability platform based in London, has announced its acquisition of FossID, a Swedish startup that builds a software composition analysis tool which scans code for open-source licenses and vulnerabilities. The acquisition of FossID is Snyk’s third within the last six months.

Jamf, developer of enterprise management software for the Apple platform, announced its acquisition of Wandera, a zero-trust security startup headquartered in San Francisco, for $400 million. According to Jamf CEO Dean Hager, Wandera’s zero-trust approach fills in an important piece in the Jamf platform tool set, providing customers “a single source platform that handles…capabilities across all Apple devices while delivering zero trust network access for all mobile workers.”

HelpSystems, the Minneapolis-based cybersecurity and automation software provider, has acquired Beyond Security, a vulnerability assessment and management solutions company based in California, expanding its own email and cloud security portfolio. In addition, HelpSystems separately announced the acquisition of Agari, a provider of email security solutions for enterprise customers.

SecureLink, the Texas-based provider of third-party remote access and security, has acquired Maize Analytics, a Tennessee-based provider of data governance services. With the acquisition, Maize Maize Analytics technology identifies non-compliant/risky behavior within the systems to which SecureLink currently controls access.

Absolute Software Corp., a publicly traded Canadian company specializing in endpoint security and data risk management, has announced its acquisition of Seattle-based NetMotion, a security startup which Absolute says will complement its Endpoint Reslience offering, for $340 million.

secunet, a German provider of IT security, has acquired Stashcat, a software that enables secure messaging with integrated file storage and video conferencing functionality.

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