February Cybersecurity Insights – Funding and M&A

This February edition of Cybersecurity Insights takes a closer look at the latest funding rounds and mergers and acquisitions (M&A) making waves in the industry.

From AI-powered cybersecurity solutions to cutting-edge fraud prevention and advanced cryptography, startups are securing significant investments, highlighting the growing demand for innovative security technologies. On the M&A front, established firms are expanding their reach and growing their portfolios through strategic acquisitions, underscoring the industry’s focus on strengthening their offerings and driving future growth.

Seed Funding

Invary secures $3.5M in Seed Funding | Founded in 2019, Invary specializes in runtime integrity solutions that ensure the security and confidentiality of systems using NSA-licensed technology. This round was led by Flyover Capital, SineWave Ventures.

ZeroRisk.io raises $4M in Seed Funding | Founded in 2023, ZeroRisk.io is a platform for merchant management that provides cybersecurity and compliance solutions. This round was led by Elkstone Capital.

Gomboc AI raises $8M in Seed Funding | Founded in 2022, Gomboc solves cloud infrastructure security policy deviations by providing tailored remediations to the IaC while insisting on keeping functionality, architecture, performance, and resilience. This round was led by Ballistic Ventures.

Andesite secures $23M in Seed Funding | Founded in 2023, Andesite AI is a cybersecurity company that builds a product for human-AI collaboration in cyber defense. This round was led by General Catalyst and Red Cell Partners.

Mimic raised $27M in Seed Funding | Founded in 2021, Mimic is a Palo Alto, CA-based ransomware defense company. The round was led by Ballistic Ventures, with investments from Menlo Ventures, Team8, Wing Venture Capital, and Shield Capital.

Series A Funding

Dreadnode secures $14M in Series A Funding | Dreadnode is an emerging startup specializing in offensive AI security. The investment was led by a notable consortium including Decibel, Next Frontier Capital, In-Q-Tel (IQT), Sands Capital, and Indie VC.

Edera Raises $15 Million in Series A Funding | Edera is a pioneer of strong workload isolation technology. The funding was led by M12, Microsoft’s Venture Fund, with participation from Mantis VC and In-Q-Tel (IQT).

QuSecure receives $28M in Series A Funding | Founded in 2019, QuSecure provides post-quantum cryptography software solutions that offer traditional and cyber threat protection services. This round was led by Two Bear Capital.

SGNL secures $30M in Series A Funding | Founded in 2021, SGNL is a dynamic access management solution that offers context-based intelligence and prevention. This round was led by Brightmind Partners and Costanoa Ventures.

Series B Funding

Whalebone secures $14M in Series B Funding | Founded in 2016, Whalebone develops zero-disruption cybersecurity for telcos, ISPs, enterprises, and government/public institutions. This round was led by Unbound.

Riot raises $30M in Series B Funding | Founded in 2020, Riot develops an employee-focused cyber-protection software platform for fighting phishing attempts. This round was led by Left Lane Capital.

Dream Security raises $100M in Series B Funding | Founded in 2023, Dream Security is a cybersecurity company that develops AI solutions to protect against cyber threats. This round was led by Bain Capital Ventures with participation from Tru Arrow Partners, Group 11, Aleph, and Tau Capital.

Series C Funding

Tines secures $125M in Series C Funding | Founded in 2018, Tines is a no-code workflow automation platform designed especially for security teams. This round was led by Goldman Sachs with participation from Activant Capital, SoftBank Investment Advisers, CrowdStrike, Accel, Addition, and Felicis.

Series D Funding

Semgrep secures $100M in Series D Funding | Founded in 2017, Semgrep is a tool for static code analysis that helps improve software security and reliability. This round was led by Menlo Ventures.

M&A

AttackIQ announced their agreement to acquire DeepSurface Security | With the acquisition, AttackIQ will extend its traditional breach and attack simulation (BAS) use case to now include AEV and help organizations programmatically pivot to Cyber Threat Exposure Management (CTEM). The amount of the deal was not disclosed.

Deepwatch announced their agreement to acquire Dassana | With the acquisition, Dassana will integrate AI-powered risk and threat exposure management technology into Deepwatch’s platform, enhancing customer security and democratizing advanced AI capabilities. The amount of the deal was not disclosed.

Harness announced their agreement to acquire Traceable | With this acquisition, Harness will offer a “first-of-its-kind” platform that brings AI-native DevOps and security together to offer a streamlined, end-to-end software delivery experience.

Menlo Security Inc. announced their agreement to acquire Votiro | By expanding the Menlo Security browser security solution suite with the Votiro data and file security platform, Menlo Security provides a comprehensive workspace security solution that secures the modern worker, wherever they are, and adapts to how they work. The amount of the deal was $37.5M.

XONA Systems & Nozomi Networks announce their intent to merge | With this acquisition, XONA will give organizations advanced tools to remotely manage the security of operational technology and industrial control systems from anywhere, and on any device.

At Intaso, we know that remaining competitive in the cybersecurity landscape is about more than just cutting-edge technology; it’s about having the right talent. Whether you’re a growing startup, an established enterprise expanding your security team, or a professional looking for your next career move, Intaso is here to connect you with top opportunities in the cybersecurity recruitment market. Reach out to us today and discover how we can assist you in placing the right people in the right roles, or helping you secure your next position.

Find out more about the companies mentioned in this article:

Seed Funding