Cybersecurity Ventures VC Report. PHOTO: Cybercrime Magazine.

VC Report, Vol. 4, No. 2: Cybersecurity Venture Capital Flowing

Startups and emerging players with fresh funding in the latest quarter

Morag McGreevey

Toronto, Canada – Jul. 15, 2019

The cybersecurity market saw healthy deal flow in the second quarter of 2019. For example, Sumo Logic, Auth0, Dashlane, and SentinelOne all completed financing rounds in excess of $100 million. KnowBe4 pulled in a whopping $300 million.

Read on to learn about these mega-rounds, and other notable deals that were announced in the latest period tracked.



Jun. 26. Vulcan Cyber Ltd. raised a $10 million funding round led by Boston-based Ten Eleven Ventures LLC, with participation from Tel Aviv-based venture capital firm YL Ventures GP Ltd.

Jun 26. Delve Labs secured additional funding. This round of financing was led by 3dot6 Ventures and Desjardins Capital and with participation from BDC Capital.

Jun. 25. UltraSoC closed a £5 million equity funding round, in which eCAPITAL and Seraphim Capital joined existing investors Indaco Venture Partners, Octopus Ventures, Oxford Capital, Techgate, and Guillaume d’Eyssautier.

Jun. 19. Valimail, Inc. raised $45 million in a Series C financing round led by Insight Partners.

Jun. 19. Expel secured $40 million in Series C funding. The round was led by Index Ventures with participation from Battery Ventures, Greycroft, NEA, Paladin Capital Group and Scale Venture Partners.

Jun. 17. Ironscales, a startup developing a holistic phishing prevention, detection, and response platform, secured $15 million in Series B financing led by K1 Investment Management.

Jun. 13. Cybersecurity risk-monitoring platform SecurityScorecard raised $50 million in a series D round of funding led by Riverwood Capital, with participation from Intel Capital, Evolution Equity, Two Sigma Ventures, Axa Ventures, and Accomplice, among others.

Jun. 12. KnowBe4 announced that it will receive a $300 million investment led by leading global investment firm KKR, with significant participation from existing investors Elephant and TenEleven Ventures.

Jun. 12. Vade Secure entered into a €70 million ($79 million) financing agreement with General Catalyst and Neolane founder Stephan Dietrich, who will serve as Vade’s board chair.

Jun. 11. Fireblocks came out of stealth and announced it has raised $16 million in Series A funding from firms including Fidelity-backed Eight Roads and MState.

Jun. 7. Railway cybersecurity startup Cylus Cyber Security Ltd. raised a $12 million funding round led by Israeli venture capital firms Magma Venture Partners and Vertex Ventures.

Jun. 5. SentinelOne raised a $120 million Series D financing round led by US venture capital Insight Venture Partners.

Jun. 4. GuardKnox secured $21 million in a Series A round of funding. This round was led by Fraser McCombs Capital with participation from global investors including automotive technology leader Faurecia, SAIC Capital, Glory Ventures, NextLeap Ventures, VectoIQ, Plug and Play, Allied, Cyphertech and Kardan LTD.


May 31. BlueVoyant, an analytics-driven cybersecurity firm, closed an $82.5 million Series B funding round. The investment included participation from new and existing investors, including with Fiserv.

May. 30. Swimlane raised an additional $23 million of a Series B financing round from Energy Impact Partners.

May 30. Dashlane closed a $110 million Series D funding round led by Sequoia Capital.

May 29., a machine data analytics platform, raised $52 million in Series D funding led by General Catalyst with participation from OpenView Ventures, 83North, Giza Venture Capital, Vintage Investment Partners, Greenspring Associates and Next47.

May 23. JumpCloud®, a Directory-as-a-Service platform, partnered with General Atlantic on its most recent round of financing. Existing investors Foundry Group and OpenView Partners also participated in the $50 million round.

May 21. Guardicore secured a Series C funding round of $60 million. The round was led by Qumra Capital and was joined by new investors DTCP, Partech, and ClalTech. Existing investors Battery Ventures, 83North, TPG Growth, and Greenfield Partners also participated in the round.

May 20. Siemplify, an independent provider of security orchestration, automation and response, secured $30 million in Series C funding led by Georgian Partners.

May 20. Auth0, a company focused on Identity-as-a-Service, announced the close of a $103M round of Series E funding, led by Sapphire Ventures.

May 14. Respond Software announced a $20 million Series B funding round led by ClearSky Security.

May 13. BambooCloud raised $15 million in Series B financing in a round led by Oriental Fortune Capital.

May 10. raised $2.5 million in seed-stage financing. Real Ventures led the round.

May 9. Evident ID, Inc. raised $20 million in Series B financing led by Aspect Ventures, with participation from existing investors New Enterprise Associates, Internet Security Systems founder Tom Noonan, and new investor Blue Cloud Ventures.

May 9. Coalition, a cyber insurance company for small and midsize businesses, closed a $40 million funding round. Ribbit Capital led the investment with participation from Greenoaks Capital and Hillhouse Capital.

May 8. Sumo Logic, a cloud-native, machine data analytics platform, announced a $110 million funding round led by Battery Ventures, with contributions from new investors including Tiger Global Management and Franklin Templeton.

May 7. Cybersecurity startup Kasada completed a $6.5 million capital raising from CSIRO-backed venture firm Main Sequence Ventures and Westpac-backed Reinventure Group.

May 7. MedCrypt, a medical device cybersecurity software provider, announced a $5.3 million Series A funding round led by Section 32, with participation from Eniac Ventures and Y Combinator.

May 7. Exabeam closed $75 million in Series E funding. The round was jointly led by new investor Sapphire Ventures and Lightspeed Venture Partners.

May 2. InCountry launched with $7 million in funding. This seed round came from Caffeinated Capital, Felicis Ventures, Ridge Ventures, Bloomberg Beta, CRV, Global Founders Capital.

May 2. Confiant, a NYC-based advertising security company, closed a $4.1 million Series A funding round. The round led by River Bay Investments and Rubicon Venture Capital.


 Apr. 30. Red Canary, a provider of security operations solutions, raised $34 million in a funding round led by global equity growth investor Summit Partners and joined by existing investors Access Venture Partners and Noro-Moseley Partners.

Apr. 29. ZeroNorth, a provider of orchestrated risk management, launched with a $10 million Series A investment led by ClearSky Ventures with participation from Crosslink Capital, Rally Ventures and existing investor Petrillo Capital.

Apr. 24. VDOO Connected Trust Ltd. raised $32 million in Series B funding led by venture capital firms WRVI Capital and GGV Capital, with participation from NTT DOCOMO, MS&AD Ventures, and strategic individual investor Mr. Avigdor Willenz. 83North, Dell Technology Capital and David Strohm also participated in the B round.

Apr. 24. Digital Guardian secured $30 million in new funding, in a round led by existing investor LLR Partners.

Apr. 22. CI Security raised $9.6 million dollars in its final round of Series B financing. The round was led by Alan Frazier’s East Seattle Partners.

Apr. 18. Fuzzbuzz completed a $2.7 million seed round led by Fuel Capital. Homebrew and Susa Ventures also participated, along with various angel investors, including Docker co-founder Solomon Hykes, Mesosphere co-founder Florian Leibert and Looker co-founder Ben Porterfield.

Apr. 17. Payfone, a digital identity authentication company, closed a $24 million funding round led by TransUnion, with participation from existing investors Synchrony, MassMutual Ventures, and Wellington Management LLP.

Apr. 17. Alsid, an Active Directory protection solution provider, announced a Series A funding record of €13 million ($15 million) in investment led by Idinvest Partners.

Apr. 15. Dashlane closed a $30 million debt financing round. This round from Hercules Capital comes in addition to previous funding from FirstMark Capital, Rho Ventures, Bessemer Venture Partners, TransUnion and Silicon Valley Bank.

Apr. 11. Armis, an enterprise IoT security company, raised $65 million in Series C funding. The round was led by Sequoia Capital, with participation from Insight Venture Partners and Intermountain Ventures joining. Bain Capital Ventures, Red Dot Capital Partners, and Tenaya Capital also participated as return investors.

Apr. 9. UBiqube, an infrastructure Automation and Orchestration vendor, raised $20 million in a Series B funding round led by NTT COMWARE (NTT’s system integration arm).

Apr. 9. Expanse, an Internet information technology operations management platform, raised $70 million in Series C funding led by TPG Growth. The round also included investments from Arianna Huffington, Peter Thiel, Egon Durban, Taylor Glover, Sam Palmisano, as well as return investments from NEA, IVP, Founders Fund, and MSD Capital.

Apr. 8. Bitglass, a cloud security leader delivering data and threat protection, announced $70 million in Series D funding from new investor Quadrille Capital and existing investors Future Fund, New Enterprise Associates (NEA), Norwest and Singtel Innov8.

Apr. 8. RiskLens, a provider of cyber risk quantification and cyber risk management software, raised $20.55 million in Series B funding. Existing investors Paladin Capital Group, Dell Technologies Capital and Osage Venture Partners were joined by F-Prime Capital and MassMutual Ventures.

Apr. 3. Onfido, a global identity verification provider, raised $50 million in funding. The round was led by SBI Investment and Salesforce Ventures, with support from M12 (formerly Microsoft Ventures), FinVC and others.

Apr. 3. Deepwatch, a provider of intelligence-driven managed security services, announced the closing of a $23 million Series A funding round led by ABS Capital Partners.

Apr. 3. Aqua Security closed a Series C round of $62 million led by Insight Partners.

Apr. 2. Sqreen, a provider of Application Security Management, closed a $14 million Series A funding round led by Greylock Partners. Y Combinator and previous investors Alven Capital and Point Nine also participated.

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