Sunday, July 21 2024

The latest venture deals and acquisitions highlight a growing market for response solutions and cloud security management.

Funding

Account takeover and fraud prevention solution provider SpyCloud has raised $35 million in a growth funding round led by CIBC Innovation Banking. The funding will enhance the Austin-based company’s product, improve its analytic capabilities, and strengthen its go-to-market teams for global expansion.

SevenAI announced a $36 million initial round of funding, led by Greylock Partners, raised $36 million. This investment will expand SevenAI’s AI-driven platform designed to enhance threat detection and response capabilities.

Verifiable computation provider Nexus has closed a $25.0 million Series A funding round. The round was led by a combination of investors, including Lightspeed Venture Partners and Pantera Capital, with participation from other notable backers. This funding will help Nexus enhance its product offerings and expand its market reach from its San Fransisco headquarters.

OnSecurity, a United-Kingdom-based penetration testing platform, has received a £5.5 million strategic growth investment. This funding aims to expand their offerings and accelerate their growth in the cybersecurity market.

Managed detection and response provider AirMDR has secured a $5.0 million seed funding round. The investment, led by Foundation Capital with participation by Storm Ventures, will support the California-based company’s research and development and go-to-market strategy.

Cyberhaven, a California-based data leak detection and response platform, raised a $88.0M Series C funding round from Adams Street Partners and Khosla Ventures. With this investment, Cyberhaven plans to expand its product offerings to extend its market reach.

In a Series C round from Wendel, YesWeHack, a Paris-based global security company that offers a crowdsourced bug bounty platform, secured €26.0M in funding. The company plans to channel these funds into improving customer satisfaction and developing new products.

Maryland-based secure remote access platform XONA Systems announced it closed on an $18.0M strategic funding round. This investment, led by Energy Impact Partners, will allow the company, whose product is geared towards operational technology (OT), to further enhance its platform’s development.

MONDATA, a Québec-based managed security services provider, raised a $17.0M venture round from Fonds de solidarité FTQ. This investment enables the company to boost marketing in the lead-up to its launch of “Proactive Cybersecurity,” a product geared specifically to enhance the protection of the TEAMS application.

YFM Equity Partners raised £2.8M in Private Equity to support Ohalo, a London-based data governance platform. With this funding, the company plans to grow its international client base.

Huntress, a Maryland-based cybersecurity provider whose platform is centered around its endpoint detection and response and managed detection and response solutions, raised $150M in a Series D funding round led by Kleiner Perkins, Meritech Capital, and Sapphire Ventures. Huntress plans to use this capital infusion to power endpoint, identity, and SaaS research alongside strategic acquisitions.

In a Series A round led by Canaan Partners, Aim Security, a Tel Aviv-based generative AI security provider, secured $18.0M in funding. With this capital, Aim Security plans to further its goal of securing generative AI enterprise adoption.

CardinalOps, an Israel-based platform for identifying cloud infrastructure threats and providing pre-engineered mitigations, raised an undisclosed Venture Round from IN Venture.

Mergers and Acquisitions

Hubble Technology Inc (Hubble), a United States-based cyber asset attack surface management and cybersecurity posture management solution, was acquired by NetSPI for an undisclosed amount. With this acquisition, NetSPI hopes Hubble’s technology will complement its external attack surface management product.

Fortinet acquired Lacework, a California-based cloud security company, for an undisclosed amount. The cybersecurity giant plans to integrate Lacework’s data-driven Cloud-Native Protection Platform into its Fortinet Security Fabric product.

Eureka Security, a Tel Aviv-based data security posture management provider for cloud environments, was acquired by Tenable Holdings Inc. (Tenable) for an undisclosed amount. With this acquisition, Tenable will add DSPM capabilities to its CNAPP solution. The company hopes this will help its customers identify key evidence related to cloud data risk.

DataGuard announced its acquisition of DPOrganizer, a Stockholm-based privacy management platform, for an undisclosed amount. DataGuard hopes this deal will help accelerate its international expansion and strengthen its security and compliance capabilities.

Garrison Technology, a Virginia-based secure browsing and data transfer platform, was acquired by Everfox (formerly ForcePoint Federal) for an undisclosed amount. Garrison Technology’s capabilities will be integrated into the Everfox software suite to provide customers in government and regulated industries with a broader set of solutions to protect their digital infrastructure.

Paris-based managed security services provider I-TRACING was acquired by Oakley Capital for an undisclosed amount. Oakley Capital hopes to solidify its position in Europe by leveraging I-TRACING’s strong presence in the continent.

Formstack acquired the data security posture management platform Open Raven for an undisclosed amount. With the acquisition of the Los Angeles-based company, Formstack plans to expand its workflow platform to include data discovery, classification, and visibility. It hopes this will enable better data compliance with enhanced security and control within its workflow platform.

Servium, a Surrey-based managed security services provider, was acquired by Advania for an undisclosed amount. Advania plans to leverage this acquisition to attract small and medium-sized UK enterprises with a broader range of services.

Abacus Group announced its acquisition of London-based managed service provider Tribeca Technology Group (Tribeca). The transaction, whose details remain undisclosed, will position Abacus Group to expand its presence in the United Kingdom. In tandem, the company plans to extend its suite of managed IT and cybersecurity services and provide its abacusFlex platform to Tribeca’s existing clients.

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

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