August Cybersecurity Insights – Funding and M&A

The cybersecurity market shows no signs of slowing, with August bringing major funding rounds and high-profile acquisitions that are reshaping the industry. From fresh Series A startups pushing AI-powered innovation, to established players scaling with significant Series C rounds, investors are backing solutions that tackle today’s most pressing security challenges.

Meanwhile, M&A activity highlights a trend toward consolidation, as market leaders expand their platforms through strategic acquisitions in identity, API, and GenAI security.

Here are the highlights you need to know from this month’s activity.

Series A:

Approov raises $6.7M in Series A funding | Founded in 2001, Approov provides mobile app and API security solutions focused on protecting APIs from unauthorized access and abuse. The round was led by Maven Capital Partners

Legion Security raises $38M in Series A funding | Founded in 2024, Legion presents an AI SOC companion browser extension that enables scalable automation using in-house knowledge. This round was led by Coatue.

Series B:

1Kosmos raises $47M in Series B funding | Founded in 2018, 1Kosmos provides a unified identity verification and passwordless authentication platform. The round was led by Forgepoint Capital.

Seemplicity raises $50M in Series B funding | Founded in 2020, Seemplicity offers a single platform for exposure management, cyber-security risk reduction, remediation, and automation. This round was led by Sienna Venture Capital

Series C:

Wallarm raises $55M in Series C funding | Founded in Wallarm is an API security platform that automates real-time application protection and security testing for APIs, apps, and microservices. This round was led by Toba Capital

Ontic raises $230M in Series C funding | Founded in 2021, Ontic unifies corporate security data and operations through a single platform that supports functions such as executive protection, threat intelligence, incident management, and corporate investigations. This round was led by Kohlberg Kravis Roberts.

M&A:

SentinelOne announce their agreement to acquire Prompt Security | The deal is part of SentinelOne’s strategy to extend its AI-native Singularity Platform to secure the rapidly growing use of generative (GenAI) and agentic AI in the workplace. The deal was reported to be for $250M.

Okta announce their agreement to acquire Axiom | The move will expand the Okta Privilege Access platform with Axiom’s PAM capabilities as the vendor looks to help customers further extend their security fabric. The deal was reported to be worth $100M

Invicti Security announce their agreement to acquire Kondukto | The acquisition will enable centralized orchestration, intelligent prioritization, and streamlined remediation, empowering security teams to focus on their actual attack surface.

Find out more about the companies mentioned in this article:

Series A: