February Cybersecurity Insights – Funding and M&A

February was another active month for cybersecurity investment and consolidation, with significant capital flowing into companies tackling everything from vulnerability management and AI security to secrets detection and compliance automation.

Across Series A, B and C rounds, investors continued to back platforms addressing some of the most pressing challenges facing security teams today, including securing AI adoption, reducing cloud attack surfaces, and helping organisations manage vulnerabilities at scale. At the same time, several notable acquisitions highlight the growing importance of exposure management, identity-first security and AI governance as larger platforms expand their capabilities.

Series C:

UpGuard raise $75M in Series C Funding | Founded in 2012, UpGuard is a leader in cybersecurity and risk management. This round was led by Springcoast Partners.
GitGuardian raise $50M in Series C Funding | Founded in 2017, GitGuardian is a cybersecurity startup solving the issue of secrets sprawling through source code, a widespread problem that leads to some credentials ending up in compromised places or even in the public space. This round was led by Insight Partners.
Nucleus Security raise $20M in Series C Funding | Founded in 2018, Nucleus Security is the enterprise leader in unified vulnerability and exposure management, enabling organizations to prioritize and mitigate vulnerabilities faster, at scale. The round was led by Delta-v Capital.

Series B:

Reco raise $30M in Series B Funding | Founded in 2020, Reco delivers a purpose-built AI SaaS security platform designed specifically for the AI era, securing AI adoption across Salesforce, ChatGPT, Copilot, and hundreds of thousands of AI SaaS apps and agents. The round was led by Zeev Ventures.
VulnCheck raise $25M in Series B Funding | Founded in 2021, VulnCheck closes the exploitation-timing gap by enabling security teams to operate on attacker timelines instead of disclosure timelines. The round was led by Sorenson Capital.

Series A:

Rapidfort raise $42M in Series A Funding | Founded in 2020, RapidFort delivers a software platform that strengthens container based applications, trimming unused components and automating vulnerability remediation so security and engineering teams can reduce their attack surface, support demanding compliance needs and ship cloud workloads with greater confidence. This round was led by Blue Cloud Ventures.
RADICL raise $31M in Series A Funding | Founded in 2021, RADICL provides SMBs serving Americas Defense Industrial Base (DIB) and critical infrastructure Xtended Threat Protection (XTP). The round was led by Paladin Capital Group.
Complyance raise $20M in Series A Funding | Founded in 2023, Complyance provides a cutting-edge platform designed for achieving compliance with standard certifications such as SOC 2 and ISO 27001, as well as offering custom frameworks tailored to the needs of organizations. The round was led by GV (Google Ventures).
Blacklash Security raise $19M in Series A Funding | Founded in 2022, Backslash Security delivers a cloud native platform that protects vibe coding and modern software development by giving security teams unified visibility, policy control and deep threat detection across AI driven coding tools, developer environments and application code, preserving developer speed while reducing risk. This round was led by KOMPAS VC.

M&A

On the M&A front,

Arctic Worlf announce their agreement to acquire Sevco Security |Arctic Wolf plans to integrate Sevco’s technology into the Arctic Wolf Aurora Platform to unify asset intelligence, vulnerability context and security control coverage to help organizations continuously identify and prioritize exposures across hybrid environments. The deal amount was not disclosed.
Semperis announce their agreement to acquire MightyID | This acquisition allows Semperis to extend true cyber resilience with identity-first security and crisis management across complex hybrid identity environments including Microsoft Active Directory (AD), Entra ID, Okta and Ping. The deal amount was ~$20M.
Endor Labs announce their agreement to acquire Autonomous Plane | The acquisition expands Endor Labs’ AI-native application security platform to deliver full-stack reachability across applications and container images, helping organizations dramatically improve vulnerability prioritization and secure modern, AI-generated software. The deal amount was ~$85M.
Check Point Software announce their agreement to acquire Cyclops | Cyclops Security specializes in exposure management, and the addition of the company’s technology will allow Check Point to deliver a “complete” offering in CTEM (continuous threat exposure management). The deal amount was not disclosed.
Varonis announce their agreement to acquire AllTrue.ai |The deal aims to enhance Varonis’ AI security capabilities, providing enterprises with real-time visibility and guardrails for agentic models and AI systems. The deal amount was ~$125M.

Find out more about the companies mentioned in this article:

Series A