December Cybersecurity Insights – Funding and M&A

Cybersecurity investment activity remained strong throughout December, with significant late-stage funding rounds and strategic acquisitions closing out the year. AI-native platforms continued to dominate investor interest, particularly across data security, identity, exposure management, and security operations, highlighting sustained demand for scalable, intelligent security solutions.

Alongside major growth investments, December also saw notable M&A activity as large security and enterprise software vendors accelerated platform expansion through acquisitions, reinforcing ongoing consolidation across the market.

Funding (Undisclosed Round)

Cyera raise $400M in Funding | Founded in 2021, Cyera is a world-leading AI-native data security platform. The round was led by Blackstone.

Series C

Zafran Security raise $60M in Series C Funding | Founded in 2022, Zafran is a cybersecurity startup offering an AI-native Threat Exposure Management platform designed to help enterprises discover, assess, and mitigate security risk more effectively. The round was led by Menlo Ventures.

Series B

Saviynt raise $700M in Series B Funding | Founded in 2015, Saviynt’s AI-powered identity platform manages and governs human and non-human access to applications, data, and business processes. The round was led by KKR.
Vega raise $120M in Series B Funding | Founded in 2024, Vega provides an AI-native security analytics and investigation platform that operates across any stack without costly migrations or engineering overhead. The round was led by Accel.
Adaptive Security raise $81M in Series B Funding | Founded in 2023, Adaptive Security delivers AI-powered social engineering prevention, protecting organisations from deepfake personas, AI-driven phishing, and multi-channel social engineering threats. The round was led by Bain Capital Ventures.

Series A

7AI raise $130M in Series A Funding | Founded in 2024, 7AI is a Boston-based cybersecurity company providing an agentic security platform that leverages autonomous AI agents to operate security functions at scale. The round was led by Index Ventures.
Echo raise $35M in Series A Funding | Founded in 2025, Echo is an AI-powered secure software infrastructure company that eliminates container vulnerabilities by rebuilding base images from scratch. The round was led by N47.
Prime Security raise $20M in Series A Funding | Founded in 2023, Prime Security provides an agentic-powered platform enabling security teams to detect, prioritise, and mitigate risks during the software design phase. The round was led by Scale Venture Partners.

Seed

Lumia Security raise $18M in Seed Funding | Founded in 2025, Lumia provides visibility, governance, and real-time guardrails across every AI interaction. The round was led by Team8.

M&A

Checkmarx announce their agreement to acquire Tromzo | The acquisition accelerates autonomous AppSec by enhancing AI agents that understand real enterprise risk and continuously remediate across complex software ecosystems. The deal amount was not disclosed.
ServiceNow announce their agreement to acquire Veza | The acquisition extends ServiceNow’s Security and Risk portfolios into identity security. The deal amount was not disclosed but is estimated to exceed $1bn.
ServiceNow announce their agreement to acquire Armis | Armis strengthens ServiceNow’s vulnerability response capabilities by providing deeper visibility into OT, IoT, and diverse asset classes with modern prioritisation methods. The deal was estimated at $7.75bn.

Find out more about the companies mentioned in this article:

Seed