March Cybersecurity Insights – Funding and M&A

This March edition of Cybersecurity Insights dives into another action-packed month of funding and M&A activity across the industry.

From early-stage startups emerging from stealth to seasoned players securing major capital, cybersecurity continues to prove it’s a top priority for investors and enterprises alike. This month saw a wave of innovation-driven funding rounds supporting everything from enterprise browsers and exploit intelligence to AI-powered pentesting and proactive cloud security. On the M&A front, landmark deals (like Google’s record-breaking acquisition of Wiz) underscore the strategic importance of cybersecurity in shaping the future of cloud and data protection.

Seed

Sola Security raise $30M in Seed Funding | Founded in 2024, Sola Security will use this funding raised for democratizing Cybersecurity. The funding was led by S Capital and venture capitalist Michael Moritz. Investors also include S32 & Glilot Capital Partners.

Aryon Security emerges from Stealth and raises $9M in Seed Funding | Founded in 2024, Aryon Security is a cloud security startup that aims to revolutionize cloud security by focusing on proactive risk prevention rather than reactive detection. This round was led by Viola Ventures and Blumberg Capital.

Charm Security raise $8M in Seed Funding | Founded in 2024, the company will use the funding to expand its team, accelerate product development, broaden its market reach, and forge strategic partnerships to increase the adoption of its scam prevention platform. The funding was led by Team8.

Orion Security raise $6M in Seed Funding | Founded in 2024, Orion intend to use the funds to combat insider data breaches. The funding was led by Pico Venture Partners and FXP with participation from Underscore VC, Sagi Gidali, Mandy Andress, Dror Davidoff, Amit Bareket & Amir Jerbi.

Styx Intelligence raise $2.7M in Seed funding | Founded in 2019, the new funding will be used to accelerate product development, expand the team, and strengthen market presence as demand for brand and digital risk protection continues to grow. The funding round was led by Business Development Bank of Canada, with participation from Framework Venture Partners, Top Down Ventures& Sprout.vc.

Series A

Crogl, Inc. secures $25M in Series A Funding | Founded in 2023, Crogl investigates thousands of alerts per day following your organization’s workflows by leveraging your existing security tools and data. This round was led by Menlo Ventures.

VulnCheck raise $12M in Series A funding | Founded in 2021, VulnCheck will use the funding to accelerate its international expansion and accelerate growth by enhancing its exploit intelligence platform and scaling go-to-market initiatives. The funding was led by Ten Eleven Ventures, with participation from existing investors, Sorenson Capital and In-Q-Tel (IQT).

Protectt.aI raise $8.7M in Series A funding | Founded in 2020, they aim to use the funds to drive global expansion, undertake product innovation and nurture talent. The funding was led by Bessemer Venture Partners.

Strike raise $13.5M in Series A funding | Founded in 2021, the funding will be used to fuel the company’s expansion into the U.S. and Brazil, accelerating the development their innovative AI-powered pentesting engine. The funding was led by FinTech Collective and supported by top investors such as Galicia Ventures, Greyhound Capital, FJ labs & Canary.

Series B

SpecterOps secures $75M in Series B Funding | Founded in 2017, SpecterOps is a cybersecurity company that provides products, services, and training solutions to help enterprises defend against advanced attacks. This round was led by Insight Partners.

BlackWall raises €45M in Series B Funding | Founded in 2019, BlackWall will use this funding to protect SMBs from malicious online traffic. The funding was led by Dawn Capital, with support from existing investors at MMC Ventures, Expeditions Fund, Red Dawn Ventures, and Tera Ventures.

Series E

Island raise $250M in Series E funding at a $4.8 billion valuation, pushing its valuation to $730M | Founded in 2020, the enterprise browser company will use the funding at supporting product development and talent acquisition. The funding round was led by Coatue Management, with support from several existing partner investors including Stripes, ServiceNow Ventures, Sequoia Capital, Prysm Capital, Insight Partners, Georgian, EDBI & Canapi Ventures.

Series D

Pentera raises $60M in Series D funding | Founded in 2015, Pentera will use this additional funding to fuel growth. The funding was led by Evolution Equity Partners, with additional backing from Farallon Capital Management.

Additional Funding

Cybereason raises $120M in Additional Funding | Founded in 2012, Cybereason will use this additional funding to grow their EDR solutions. This round was led by SoftBank Group Corp. & Liberty Strategic Capital.

M&A

Google announced their agreement to acquire Wiz | With this acquisition, Wiz will join Google Cloud. In a Tuesday conference call, Google CEO Sundar Pichai predicted Cloud division’s addition of Wiz will result in even better security at a lower cost than can be provided now. The amount of the deal was $32B – Google’s largest acquisition and the biggest-ever cybersecurity acquisition to date!

Varonis announced their agreement to acquire Cyral (acquired by Varonis) | This strategic acquisition aims to enhance Varonis’ data security capabilities by integrating Cyral’s cloud-native DAM technology, which features agentless and stateless interception technology for quick deployment.

Lumu Technologies announced their agreement to acquire Maltiverse | This strategic acquisition enhances Lumu’s ability to provide customers with deeper compromise context and strengthens its real-time threat intelligence capabilities.

Forcepoint announced their agreement to acquire Getvisibility | With this acquisition, Getvisibility enhances the user’s ability to identify and mitigate data risk. This will tighten the synergy to simplify security management, enhance risk mitigation and speed compliance for enterprise and government customers. The amount of the deal was not disclosed.

Nightwing Group, LLC announced their agreement to acquire Roka Security | This acquisition will enable Nightwing to deliver even more targeted, high-impact full spectrum cyber solutions for government and private sector clients facing today’s rapidly evolving cyber threats.

Find out more about the companies mentioned in this article:

Series E