Venture Funding Report

FROM THE EDITORS AT CYBERSECURITY VENTURES

Q2 2017

The Venture Funding Report provides a diary of noteworthy VC investments over the past quarter. From startups to some of the market’s largest players, we track the deals that keep you on the cutting edge of cyber.

VC DESK

Cybersecurity VC funding strong and steady in second quarter of 2017

moragMorag McGreevey

Menlo Park, Calif. – Jun. 30, 2017

Deal flow was strong and steady in Q2 2017. Notably, there was a significant number of deals with seed funding, indicating that cybersecurity remains an ever-growing industry with continuous potential for newcomers.

Seed funding didn’t dominate the market, as there was a solid balance of small-scale investment and multi-million dollar funding for established industry players during the second quarter.

“Cybercrime damages are predicted to reach $6 trillion annually by 2021, and security spending is expected to exceed $1 trillion cumulatively over the next 5 years” says Steve Morgan, founder and Editor-In-Chief at Cybersecurity Ventures. “Late last year we predicted that VCs would take another big bite into cyber firms during 2017. The investment activity during the first half of this year confirms our speculation.”

DEAL FLOW

June

Jun. 27. Awz HLS Fund, a Canadian venture capital firm focused on security and intelligence technologies, has invested $5.25 million in Israeli startup Octopus Systems, a cloud-based security platform.

Jun. 27. JASK, which provides companies with software to monitor cyber threats, came out of stealth today and announced funding of $12 million in a round co-led by Dell Technologies Capital and TenEleven Ventures. Existing investors Battery Ventures and Vertical Venture Partners also joined.

Jun. 27. Canadian Beauceron Security, a cybersecurity developer, raised a $500,000 seed round of funding, led by East Valley Ventures and Mariner Partners, and included $150,000 from the New Brunswick Innovation Fund.

Jun. 26. SparkCognition, which uses machine learning to analyze security breaches, completed a $32.5 million Series B funding round, with investment from Verizon Ventures and Boeing’s HorizonX.

Jun. 26. Upstream Security, a cloud-based cybersecurity platform, raised $2 million in seed funding led by Gilot Capital Partners.

Jun. 21. GreatHorn secured $6.3 million in Series A funding from TechStars Ventures and .406 Ventures.

Jun. 21. Elevate Security, a platform that focuses on shifting human behavior and responses to security threats to prevent breaches, announced $2 million in seed funding from Costanoa Ventures and Webb Investment Network.

Jun. 21. Cybereason, a Boston-based cybersecurity firm specializing in end-point detection and response to digital security breaches, announced it secured a $100 million funding from Japanese telecommunications firm SoftBank Corp.

Jun. 14. California-based cybersecurity company Fortanix announced its $8 million Series A round with investment from Foundation Capital and NeoTribe.

Jun. 8. Obsidian Security, a newly formed cybersecurity firm in Newport Beach, raised $9.5 million in a funding round led by Greylock Partners.

Jun. 7. Adaptive cybersecurity company Illumio closed on $125 million funding, with investment from Andreessen Horowitz, General Catalyst, Data Collective and Accel, among others.

Jun. 7. Israeli cyber security startup Minerva announced a $7.5 million financing round led by Amplify Partners.

Jun. 7. Parisian cyber-startup CybelAngel recently raised €3 million from Serena Data Ventures.

Jun. 6. Cybersecurity firm Netskope announced that it has raised $100 million from existing and new investors. The Series E round was led by existing investors Lightspeed Venture Partners and Accel. Sapphire Ventures and Geodesic Capital also participated.

Jun. 1. Austin-based cybersecurity company SpyCloud came out of stealth mode with $2.5 million in investment. Silverton Partners and March Capital Partners participated in the investment.

May

May 30. NetGuardians announced a Series C investment of CHF 8.5 million. The investors in this Series C Funding are Swisscom Ventures and Freemont Management.

May 30. CounterTack, provider of the memory-based Endpoint Threat Platform, announced that it has raised $20 million in growth funding. The Series D round is led by new CounterTack investor Singtel Innov8, along with SAP National Security Services, also a new investor in CounterTack

May 16. Israeli startup Karamba Security, a provider of cybersecurity for connected and self-driving cars, raised $12 million, attracting investment from Washington-based cyber-focused Paladin Capital.

May 16. Rubica, a company focused on personal cyber security, raised $5.6M seed series funding from backers including Lerer Hippeau Ventures, Slow Ventures, Upfront Ventures, TrueCar and Expa.

May 16.  Mocana Corporation, a provider of mission-critical IoT security solutions for industrial control systems and the Internet of Things, announced that the company has received $11 million in additional investment from Sway Ventures, Shasta Ventures, Trident Capital Fund and GE Ventures.

May 11. IoTium, a secure network infrastructure company for the Industrial Internet of Things, announced that it has closed $8.39 million in Series A financing. This investment is led by March Capital Partners and GE Ventures.

May 11. Skeyecode received an undisclosed amount of seed funding from 500 Startups.

May 10. Attivo Networks, a leader in deception for cybersecurity defense, announced it has closed $15M in Series B round funding, made up by major investors including Omidyar Technology Ventures, Bain Capital Ventures, Trident Capital Cybersecurity and Macnica Ventures.

May 9. Signal Sciences, a startup that wants to help companies secure their web apps in a modern DevOps context, announced a $15 million round today led by CRV with participation from Harrison Metal, Index Ventures and OATV.

May 9. Vera, a pioneer in data-centric security enabling businesses of all types and sizes to secure, track and share any type of data, announced a $15 million strategic investment led by Hasso Plattner Ventures.

May 9. RedLock, a cloud and cyber security player, emerged from stealth and announced their Series A Round of funding. Sierra Ventures is a lead investor in the $12 million total raised.

May 9. Security solutions startup Sequretek IT Solutions Pvt. Ltd has raised an undisclosed amount in funding from Unicorn India Ventures and GVFL Ltd.

May 9. UBiqube PLC, which operates in the networking and security industry, announced that it has secured a Series A round from Fujitsu Limited, NTT Docomo Ventures, and Fortinet, Inc.

May 8. London, England-based cyber software insurance company Corax received $1.75 million in seed funding from undisclosed backers.

May 8. Polyverse Corporation, a Washington-based cybersecurity company, secured an additional $2m in funding. The backers were not disclosed.

May 5. Cybersecurity firm VST Enterprises closed its fourth round of funding, securing £11.4 million from a collection of private investors. CEO Louis-James Davis remains the lead shareholder via LJ Holdings & Investments.

May 4. Signifyd, which specializes in e-commerce fraud, has closed a $56 million Series C investment led by Bain Capital Ventures. Menlo Ventures and American Express also participated in the round.

April

Apr. 26. 802 Secure, which operates in the Internet of Things defence market, received investment of $6 million to develop its two core products from Daylight Investors.

Apr. 25. Twistlock, a provider of cloud security solutions, raised $17M Series B funding, led by Polaris Partners, with participation from existing investors YL Ventures, TenEleven and Rally Ventures.

Apr. 19. Dome9 Security, a cloud infrastructure security company, announced the close of $16.5 million in Series C funding, led by a new investor, SoftBank Corp. Existing investors also participated in this round, bringing the total funding in Dome9 to $29 million.

Apr. 18. NetSPI, a security testing and vulnerability correlation company, announced the completion of a strategic growth equity financing, let by Sunstone Partners.

Apr. 18.  CyberGRX, a provider of third-party cyber risk management platform, announced that it has raised $20 million in Series B funding led by Bessemer Venture Partners (BVP).

Apr. 18. CLEAR announced that it raised $15 million from existing investors, including T. Rowe Price. Past investors include Delta Airlines, Priceline Chairman Jeffery H. Boyd, Priceline former CFO Robert Mylod, Sterling VC, and LMM Chairman Bill Miller.

Apr. 18. Cyber-security solutions provider Innefu Labs Pvt. Ltd announced that it has raised $2 million in a series A round of funding from venture capital fund IndiaNivesh.

Apr. 17. Zinc announced an $11 million funding round led by a strategic investment from GE Ventures with participation from Hearst Ventures, with the aim of transforming deskless communication.

Apr. 13. ClearDATA, an Austin, Texas-based managed cloud provider for healthcare security, raised $12m in funding. Backers included Merck Global Health Innovation Fund, Norwest Venture Partners, Excel Venture Management, Heritage Group, HLM Venture Partners, and Flare Capital Partners.

Apr. 11. Synack, a cybersecurity startup that helps businesses prevent and counter security breaches, announced new funding of $21.25 million, led by Microsoft Ventures.

Apr. 11. PAS, a provider of industrial control system (ICS) cybersecurity, process safety, and asset reliability solutions for the energy, power, and process industries, announced a $40 million growth investment by Tinicum, L.P.

Apr. 5.  Armor, the first company to offer a secure hosted cloud, closed an $89 million equity financing round led by ST Telemedia (STT).

Apr. 5. Aeriandi, a leading supplier of voice security solutions, received an investment of £1.5 million growth capital from BOOST&Co.

Apr. 5. Critical Informatics, a Washington-based cybersecurity company offering solutions for mid-sized companies in the financial services, healthcare and public sectors, announced a $3.25 million Series A funding round led by Alan Frazier’s East Seattle Partners.

Apr. 5. CheckRecipient, a machine learning startup that aiming to end the problem of misaddressed emails once raised $2.7 million in a round co-led by Accel and LocalGlobe, with the participation of Winton Ventures, Amadeus Capital Partners and Crane.

Apr. 4. SlashNext, a California-based startup that provides a cloud-based program that uses machine learning to stop malware and socially engineered attacks, announced today new funding of $9 million. The round was led by Norwest Venture Partners and Wing Venture Capital.

Apr. 4. Next-generation security information and event management and big data analytics platform LogPoint announced it secured $10 million in Series B funding from Evolution Equity Partners.

Cybersecurity Ventures expects to see significant VC and corporate investor deal flow in the cybersecurity space for the remainder of 2017.

Stay tuned for the Q3 2017 edition of the Venture Funding Report

Morag McGreevey is a freelance writer covering cybersecurity, national security, VC deals, and investing.

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Q1 2017

The Venture Funding Report provides a diary of noteworthy VC investments over the past quarter. From startups to some of the market’s largest players, we track the deals that keep you on the cutting edge of cyber.

VC DESK

Cybersecurity VC funding bounces back in Q1 2017

moragMorag McGreevey

Menlo Park, Calif. – Apr. 4, 2017

The cybersecurity market is on a hot streak. After a slow close to 2016 (cybersecurity funding dropped by more than half in the fourth quarter), some cybersecurity watchers were worried that the industry was slowing down. The sheer volume of deals in Q1 2017 show that this isn’t the case. In January alone, the market saw $279 million in financing volume.

Symantec Corp. (NASDAQ:SYMC), the world’s leading cyber security company, announced the formation of Symantec Ventures to help cyber security startups accelerate the delivery of core innovation to the security marketplace. In addition to contributing capital, Symantec aims to help the startup community reduce expenses and accelerate time to market.

“As we noted in Q4 2016, Cybercrime damages are predicted to reach $6 trillion annually by 2021, and security spending is expected to exceed $1 trillion cumulatively over the next 5 years” says Steve Morgan, founder and Editor-In-Chief at Cybersecurity Ventures. “In Q4 2016 we predicted that VCs would take another big bite into cyber firms during 2017. Q1 activity confirms our speculation.”

Cybersecurity Ventures expects to see significant VC and corporate investor deal flow in the cybersecurity space for the remainder of 2017.

DEAL FLOW

March

Mar. 30. Paris-based Ledger, a cryptocurrency startup, raised a $7 million Series A round to make hardware security devices ubiquitous.

Mar. 30. SmartSky Networks, a North Carolina startup building cellular towers for in-flight connectivity, announced a $170 million Series B funding round. One target market are government agencies interested in the company’s ability to send live video streams off an airborne platform, the cybersecurity advantage of having narrower spot beams (which reduce the physical access reach of potential hackers), and SmartSky’s encryption.

Mar. 29. Ripjar, a London-based firm focused on analytic problems for real-time threat intelligence, anti-money laundering and insider threats, announced that it has secured £3.75 million GBP ($4.5 million USD) in capital in order to bring its data analytics platform to more customers across the globe.

Mar. 27. Israeli-headquartered cybersecurity firm Votiro is raising $10 million in advance of ASX IPO plans, and Redfield Asset Management has already committed $2.93 million.

Mar. 27. root9B Holdings, Inc. announced the closing of the private placement financing consisting of secured convertible promissory notes and common stock purchase warrants for net proceeds of $2.25 million

Mar. 22. VU Security, an identity security and fraud prevention firm based in Argentina, has secured $4.3 million in Series A funding from existing investors INICIA and NXTP Labs.

Mar. 21. Bandura Systems, a St. Louis, Mo. based cybersecurity software startup, has reported raising an additional $650,000 in its most current funding round, bringing the total to $1.3 million.

Mar. 20. Bayshore Networks announced the closing of its Series A venture capital investment, with a final investment from Benhamou Global Ventures (BGV). Total investment now reaches $15 million.

Mar. 14. Dyadic Security secured $12 million in Series B funding, bringing total funding to roughly $15 million. Investors include Innovation Endeavors and Citi Ventures.

Mar. 10. Taiwan-based Bitcoin hardware wallet maker CoolBitX has raised $500,000 in order to move into the broader blockchain security space and provide solutions for IoT devices and the medical industry.

Mar. 9. Cloud-based networking company Cradlepoint, with headquarters in Boise, Idaho, announced that it has raised a new $89 million Series C Round of funding, focused on expanding its network security solutions.

Mar. 9. Albuquerque, N.M. based RiskSense announced that it has doubled its funding round, raising a total of $14 million. Jump Capital joins four firms investing in the company’s Series A round of financing.

Mar. 9. Cymulate, a SaaS based cyber-attack simulation company, raised $3 million in Series A funding. Susquehanna Growth Equity led the round.

Mar. 7. U.S.-Israeli mobile security firm Zimperium, has raised $15 million from Japan’s SoftBank in its latest funding round, its fourth, which brings the company’s total funding to $60 million. In June, Zimperium raised $25 million.

Mar. 6. London-based cybersecurity firm Garrison Technology Limited announced that they have raised £12 million in a Series A Funding round led by Touchstone Innovations. BGF Ventures, NM Capital, and the firm’s existing angel investors also participated in the round.

Mar. 6. Early-stage fund Parampara Capital announced its first investment in cybersecurity and cyber-intelligence startup Data Resolve Technologies.

February

Feb. 28. Israeli behavior analytics company Fortscale Security Ltd. raised $7 million in its latest financing round led by Evolution Equity Partners and Valor Capital Group.

Feb. 27. Strategic Cyber Ventures pledged $3.5 million to Polarity, helping the company expand its engineering and technology teams.

Feb. 24. San Francisco-based drone protection startup Dedrone announced $15 million in additional funding from investors to develop its products. Felicis Ventures and Cisco’s Executive Chairman John Chambers delivered the bulk of the new funding.

Feb. 23. Privacy Labs, a startup that allows users to take control of their data, secured a $4 million seed round of funding led by Initialized Capital.

Feb. 22. Qumram announced further investment of 1.5 million Swiss Francs, from the technology-focused venture capital firm, Mundi Ventures, which is headquartered in Madrid.

Feb. 16. Trillium, a Tokyo-based automotive IoT cybersecurity company, announced that it closed a Series A financing round of investments by lead investor Global Brain, Mizuho Capital and DBJ Capital.

Feb. 14. Draper Triangle Ventures and the Ohio Innovation Fund, led a $3 million Series A funding round for Wiretap.

Feb. 13. Israeli cybersecurity company IntSights announced the completion of a $15 million Series B financing round. This round (which included investments by Glilot Capital Partners, Blackstone, Blumberg Capital, Wipro, Vintage Investment Partners, and other strategic investors) comes only four months after IntSights’ Series A round.

Feb. 13. Bayshore Networks, a cybersecurity leader for the Industrial Internet of Things (IIoT), announced Samsung NEXT Ventures completed a strategic equity investment in the company’s Series A financing round.

Feb. 10. empow, a Tel Aviv, Israel-based cybersecurity startup, raised $9 million in funding. Backers includes both private investors and the Office of the Chief Scientist at the Israel Ministry of Economy.

Feb. 9. Israeli cybersecurity startup Javelin Networks announced the closing of a $5 million Series-A financing round, with investment from RSL Capital, Hillsven Capital, UpWest Labs, Tomer Weingarten, CEO of SentinelOne and other private investors.

Feb. 9. Demisto, Inc., an innovator in Security Operations technology, announced that it has closed its $20 million Series B round of funding.

Feb. 9. TruSTAR, a security intelligence exchange platform built to incentivize information sharing, raised $5 million in Series A funding in a round led by Storm Ventures.

Feb. 8. HackerOne announced $40 million in Series C financing. The round was led by Dragoneer Investment Group.

Feb. 8. Trident Capital Cybersecurity announced that it closed its $300 million cybersecurity fund — which was was oversubscribed.

Feb. 7. Exabeam, a leader in security intelligence solutions, announced it raised $30 Million in series C funding, led by Lightspeed Venture Partners and Cisco Investments.

Feb. 7. SecuredTouch completed a $3.5 million initial funding round with investment from the RDC Fund, among others.

Feb. 7. Netwrix Corporation announced that it secured a Series A financing round led by Updata Partners.

Feb. 6. Verato, Inc., a provider of cloud-based identity matching, announced today that the company has raised $12.5 million in Series B financing.

Feb. 3. Drie announced the completion of a £410,000 seed funding round led by undisclosed angel investors.

Feb. 2. Utimaco, a worldwide supplier of professional cybersecurity solutions, received all regulatory approvals for its new investor EQT Mid Market, a leading private equity group.

Feb. 2. InfoArmor, Inc., a provider of employee protection solutions and elite cyber intelligence services, received an investment from global growth equity investor Summit Partners. Deal value was not disclosed.

Feb. 1. Startup company Red Tulip Systems received  €300,000 from UNIIQ investment fund.

Feb. 1. LogicHub, a California-based new security startup, raised $8.4m in Series A fundingThe round was led by Storm Ventures and Nexus Venture Partners.

Feb. 1. Optiv Security, a provider of end-to-end cyber security solutions, and KKR, a leading global investment firm, today announced the completion of the acquisition of a majority stake of Optiv by KKR.

January

Jan. 28. Pindrop Security completed a $75 million Series C funding round, with investment from Google Capital, Andreessen Horowitz, and Institutional Venture Partners.

Jan. 25. Internet security company SentinelOne has raised $70 million in Series C financing. New investor Redpoint Ventures led the round, along with investment from Sound Ventures, Third Point Ventures, Data Collective, Granite Hill Capital Partners, Westly Group, and SineWave Ventures.

Jan. 24. Microsoft Ventures joined Illusive Networks, a cybersecurity startup based out of Israel, as its newest strategic investor.

Jan. 24. Cybellum, an Israeli cybersecurity company raised $2.5 million in a seed financing round led by Blumberg Capital.

Jan. 24. Israeli cyber startup Secret Double Octopus raises $6M Series A Funding. Investors included Jerusalem Venture Partners (JVP), Liberty Media’s Israel Venture Fund, Iris Capital, Benhamou Global Ventures and angel investor Yaniv Tal.

Jan. 20. ID DataWeb, a Virginia cybersecurity startup, picked up a $3 million investment from Washington, D.C.-based Strategic Cyber Ventures.

Jan. 20. Enterprise incubator Alchemist landed $2.1 million in investment.

Jan. 18. ProtectWise, a security startup, announced a $25 million round today, with investment from Arsenal Venture Partners, Top Tier Capital Partners, Tola Capital and unnamed strategic investors.

Jan. 17. OPAQ Networks announced it has completed a $21 million in Series A funding round led by Columbia Capital, Harmony Partners and Zero-G Inc.

Jan. 17. Fraugster, a German and Israeli anti-fraud technology startup, raised $5 million in a venture funding round led by Earlybird.

Jan. 17. Colorado Impact Fund led a Series A funding round to invest $4 million in SecureSet Academy.

Jan. 12. Transmit Security, an Israeli startup developing programmable biometric authentication has announced a $40 million self-founded round of financing.

Jan. 10. Phantom announced it has raised $13.5 million in Series B funding round led by Kleiner Perkins, with participation from existing investors TechOperators Venture Capital, Blackstone, Foundation Capital, In-Q-Tel, Rein Capital, Zach Nelson, and John W. Thompson.

Jan. 9. Cybersecurity think tank and venture fund Team8 said that Microsoft Ventures, Qualcomm Ventures and Citigroup would join its partnership of international supporters. Although direct investment figures are undisclosed, the total funds raised by Team8 reached $92 million.

Jan. 6. Total data protection company Bitglass announced it raised $45 million in Series C funding from Future Fund, NEA, Norwest, Singtel Innov8 and others.

Jan. 5. New York-based Payfone raised $23.5 million in Series E financing. BlueCross BlueShield Venture Partners and Andrew Prozes led the round. There was also participation from Strauss Zelnick, Maclab Development Group and Transaction Network Services, and RRE Ventures among others.

Stay tuned for the Q2 2017 edition of the Venture Funding Report

Morag McGreevey is a freelance writer covering cybersecurity, national security, VC deals, and investing.

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Q4 2016

The Venture Funding Report provides a diary of noteworthy VC investments over the past quarter. From startups to some of the market’s largest players, we track the deals that keep you on the cutting edge of cyber.

VC DESK

Deal flow dropped off in last quarter of 2016

moragMorag McGreevey

Menlo Park, Calif. – Jan 13, 2017

After strong growth in Q3 16, cybersecurity funding dropped by more than half in the final quarter of 2016. According to PwC, the market saw $370 million in funding — a strong figure, but nowhere near what the industry saw earlier this year.

“VCs focusing on cyber took a deep breath in Q4 16”, says Steve Morgan, founder and Editor-In-Chief at Cybersecurity Ventures. “The market is digesting historic levels of cyber funding over the past two years.”

Cybercrime damages are predicted to reach $6 trillion annually by 2021, and security spending is expected to exceed $1 trillion cumulatively over the next 5 years” adds Morgan. “This leads us to believe that VCs will take another big bite into cyber firms during 2017.”

Despite the significant drop in cybersecurity funding at the end of last year, there was some exciting movement in the marketplace and the deal flow is already trending up in the first quarter of 2017.

DEAL FLOW

December

Dec. 29. Swimlane LLC, a Colorado-based startup, raised $3 million in private offering funding round, backed by shares of stock in the privately held company.

Dec. 23. Fishtech Labs has invested $4 million in Haystax, and will be adding Haystax’s Constellation primary security analytics platform, to its “best-in-class” portfolio.

Dec. 15. Delve Labs, a Montreal-based autonomous security solutions company, raised $1.5 million in seed-stage financing backed by Real Ventures, Desjardins Innovatech and Fonds Québecor Innovation.

Dec. 14. EverCompliant, an Israeli cyber intelligence company, closed a $9.5 million Series A financing round led by Arbor Ventures with additional support from Carmel Ventures, StarFarm Ventures and Nyca Partners.

Dec. 12. Wallarm, a web app security startup in Menlo Park, Calif. led by a team of ex-white hat hackers raises $2.3 million after going through Y Combinator.

Dec. 11. Optiv Security, a Denver, Colorado-based provider of cybersecurity solutions, received investment from KKR from its eleventh Americas Private Equity investment fund. Sellers included a group of private investors, including a private equity fund managed by Blackstone.

Dec. 7. Kenna Security closed a $15 million Series B funding round, led by PeakSpan Capital with participation from OurCrowd, U.S. Venture Partners, Costanoa Venture Capital and Hyde Park Angels.

Dec. 7. Fhoosh, a Miami, Florida-based company, secured a $2 million investment from Volta Global.

Dec. 6. Secdo, an Israel-based startup, raised $10 million in a Series A funding round headed by RDC, a subsidiary of Elron Electronics Industries and Rafael, Check Point co-founder Marius Nacht, and the founders of Anobit.

Dec. 2. SEWORKS completed a $8.2 million in Series A funding, led by Smilegate Investment and Softbank Ventures, with Qualcomm Ventures, Samsung Ventures and Wonik Investment Partners also participating.

Dec. 1. Delta Risk LLC, a San Antonio-based cyber defense firm founded by former military veterans, raised $3 million in debt among six investors, according to records on file with the U.S. Securities and Exchange Commission.

November

Nov. 30. AttackIQ, a San Francisco-based startup, landed a $8.8 million funding round with investment from Index Ventures, Qualcomm Ventures and Telstra Ventures.

Nov. 30. Sixscape, a developer of secure communication software, raised $2 million in funding from Tembusu ICT Fund I, a Singapore-based software-focused venture capital fund.

Nov. 29. Coretelligent LLC, a provider of secure private cloud and IT managed services, received an undisclosed investment from Veronis Suhler Stevenson.

Nov. 28. Proficio, a provider of managed detection and response services, raised $12 million in a funding round led by Kayne Anderson Capital Advisors, L.P.

Nov. 23. TAC Security, an Indian start-up helmed by 23-year old Trishneet Arora, closed its pre-series A funding from businessman Vijay Kedia and outlined its plan to close a Series A funding round of $10 million imminently.

Nov. 23. InfiSecure, a startup founded in March 2016, secured $600K in seed funding from IDG Ventures and Axilor Ventures.

Nov. 17. Prevalent Inc., a provider of third-party risk management and cyber threat intelligence, raised $60 million in Series C funding led by Insight Venture Partners.

Nov. 16. Invincea, whose software prevents against malware and analyzes systems for potential vulnerabilities, raised $10 million in a funding round led by ORIX Growth Capital.

Nov. 15. Siemplify, a cyber-threat management and analysis company based in New York and Israel, announced a $1o million round of Series A financing led by 83North Venture Capital and G20 Ventures.

Nov. 10. RiskIQ, a San Francisco-based cybersecurity company specializing in digital risk management, closed a Series C funding round of $30.5 million led by Georgian Partners.

Nov. 4. Bayshore Networks, a company that specializes in the Industrial Internet of Things, received Series A funding from Yokogawa Electric Corporation, a $3.7 billion industrial leader in its field.

Nov. 2. ValiMail, which helps enterprises protect their e-mail inboxes, raised $12 million in Series A financing, in a round led by Shasta Ventures with follow-on investments from Flybridge Capital and Bloomberg Beta.

Nov. 1. CounterTack announced a $10 million funding round from a portfolio of strategic investors, including TenEleven Ventures, Fairhaven Capital and Goldman Sachs.

October

Oct. 28. Dragos, Inc., a San Antonio, Texas startup providing tools to cyber defend industrial control systems, raised $1.2 million from DataTribe — an angel incubator and venture capital firm based in the Washington, D.C. region.

Oct. 24. Nozomi Networks completed a $7.5 million Series A round of financing, which was co-led by GGV Capital and Lux Capital, with additional participation from previous investor Planven Investments SA.

Oct. 14. VMRay secured $3.9 million in Series A investment with eCAPITAL entrepreneurial Partners AG and High-Tech Gründerfonds (HTGF) to accelerate adoption of the company’s agentless automated threat detection services.

Oct. 14. HYPR, a New York-based startup, raised $3 million in seed funding, with investment led by Kirill Sheynkman of RTP Ventures, Ed Sim of Boldstart Ventures and Ed Chyau of Mesh Ventures.

Oct. 12. Virgil Security completed a $4 million Series A funding round led by KEC Ventures, with additional investment from Bloomberg Beta, Blu Venture Investors, Change Ventures, NextGen Venture Partners, Sparkland Capital, and Working Lab Capital, among others.

Oct. 11. GigaTrust, a provider of e-mail and document protection solutions, raised $20 million in funding from Balance Point Capital.

Oct. 8. E8 Security, an innovator in behavioural intelligence, announced the completion of a $12 million Series B funding round led by Strategic Cyber Ventures.

Oct. 6. Cybric, a next-generation of cybersecurity automation and vulnerability remediation company, closed $6.3 million in seed funding with Capstone Ventures and Petrillo Capital.

Oct. 5. Factum, an Austin, Texas-based company that works with blockchain technology, raised $4.2 million in a Series A funding round led by Draper Associates.

Stay tuned for the Q1 2017 edition of the Venture Funding Report

 – Morag McGreevey is a freelance writer covering cybersecurity, national security, VC deals, and investing.

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