05 Oct VC Report, Vol. 5, No. 3: Cybersecurity Venture Capital Investments In The Latest Quarter

Startups and emerging players with fresh funding in the latest quarter

– Steve Morgan, Editor-in-Chief

Sausalito, Calif. – Oct. 1, 2020

Q3 was a pivotal period for the cybersecurity market. If Q2 was characterized by the scramble to create a “new normal” in response to Covid-19, then the latest quarter was a period of thoughtful adaptation and innovation to make the “new normal” work.

Of course, this had an enormous impact on the cybersecurity market — as consumers are spending more time behind their screens, and scammers are intent on exploiting any vulnerabilities in the system. Although capital markets have been depressed by the impact of a pandemic, the cybersecurity sector has demonstrated resilience and strength in the face of the novel coronavirus.

Read on to learn about cybersecurity deal flow in the past three months.

DEAL FLOW 

September 

Sep. 30. Israeli startup Axis Security announced that it has raised a $32 million Series B funding round. The round was led by Canaan Partners, with participation from existing investors Ten Eleven Ventures and Cyberstarts.

Sep. 30. IriusRisk announced the closing of a $6.7 million Series A fundraising round. Paladin Capital Group led the round, with participation from 360 Capital Partners and existing investors Swanlaab, JME Ventures and Sonae Investment Management.

Sep. 30. Adlumin secured $6 million in a Series A funding round. Lead investor is Karl Gemperli, founding partner at Leawood Venture Capital.

Sep. 29. Elevate Security announced $8.25 million in funding. The Series A1 investment round was led by the Foundry Group, with additional investments from Salesforce Ventures and Shasta Ventures. Existing investors Costanoa Ventures and Defy also participated.

Sep. 27. Israeli-American cybersecurity startup Hysolate raised $10 million in a funding round led by Planven, with participation from existing investors Bessemer Venture Partners, Innovation Endeavor and Team8.

Sep. 25. Startup Cerby raised $3.5 million in a seed round led by Bowery Capital.

Sep. 16. JupiterOne closed a $19 million funding round led by Bain Capital Ventures.

Sep. 16. ThreatLocker Inc. raised $4.4 million in a debt and equity deal, according to a U.S. Securities and Exchange Commission filing. The investors were not named on the filing.

Sep. 15. Sternum announced it has raised $6.5 million in Series A funding. The round, led by Square Peg, was joined by existing investor Merle Hinrich, European venture capital firm btov, and private investors.

Sep. 15. Israeli startup Medigate announced a $30 million Series B funding round. The investment was led by new investor Partech, with existing investors YL Ventures, U.S. Venture Partners (USVP), Maor Investments and Blumberg Capital also participating in the round.

Sep. 15. Cybersecurity startup Devo Inc. has raised $60 million in fresh funding, provided by venture capital firms Georgian Partners, Bessemer Venture Partners and Insight Partners.

Sep. 10. EverCompliant completed a $35 million Series B investment round, as well as the renaming of the company to EverC. The round was led by Israeli venture capital fund Red Dot Capital Partners. Maor Partners also participated in the round together with the company’s current investors, including Joey Low, Viola Ventures, Arbor Ventures and American Express Ventures.

Sep. 9. Tel Aviv-based cybersecurity startup Snyk Ltd. announced a $200 million investment, led by venture capital firm Addition.

Sep. 9. Panther Labs, a cybersecurity startup led by Airbnb and AWS alumni, has raised $15 million in Series A funding. Lightspeed Venture Partners (LSVP) led the round with participation from S28 Capital, Innovation Endeavors, and Fathom Capital.

Sep. 9. Pcysys announced that it has completed a $25 million Series B Funding round led by U.S.-based venture capital and private equity firm Insight Partners, along with existing investors, Awz Ventures and The Blackstone Group.

Sep. 8. Detroit-based Aadya Security Inc. announced that it has closed on $2.7 million in seed funding from three separate out-of-state investment groups.

Sep. 2. Cloudentity announced today that it has raised $13M in Series A funding led by ForgePoint Capital, with participation from WestWave Capital.

August

Aug. 26. American private equity investor KKR made a $300 million growth investment into ReliaQuest.

Aug. 25. Blackpoint Cyber announced that it has raised a Series B round of funding.

Aug. 25. Cybersecurity company Socure has raised $35 million in a new round of funding. The round was led by Sorenson Ventures with participation from existing investors Commerce Ventures, Scale Venture Partners, and Flint Capital.

Aug. 20. Cobalt has raised $29 million in a Series B round led by Highland Europe.

Aug. 19. Cyware has raised a $10 million Series A round led by the Prelude Fund (the venture practice at Mercato Partners), and Tanium.

Aug. 18. SpyCloud Inc. closed a $30 million Series C funding round. Centana Growth Partners led the round, which included all of the startup’s existing investors: Silverton Partners; M12, the venture capital subsidiary of Microsoft Corp.; Altos Ventures; and March Capital Partners.

Aug. 17. Keeper Security closed a $60 million minority investment by global venture capital and private equity firm Insight Partners.

Aug. 11. Blumira raised $2.6 million in funding. The round was led by Chicago-based M25, with additional investment from Array Ventures.

Aug. 11. Perimeter 81 completed a $40 million Series B round led by Insight Partners.

Aug. 11. Ironscales closed an $8 million Series B extension led by Chicago-based venture and growth capital firm Jump Capital.

Aug. 7. Keyless closed a funding round of approximately €1.8 million. The round was led by Italian venture capital firm P101 SGR. Maire Investments, LUISS Alumni 4 Growth, and Primomiglio SGR also participated in this round.

Aug. 6. Clean.io announced the completion of a $5 million Series A financing round. Tribeca Venture Partners led the investment round, with participation from Real Ventures, Inner Loop Capital, and Grit Capital Partners.

Aug. 5. Censys has raised a $15.5 million Series A funding round, led by GV and Decibel with participation from Greylock Partners.

July

Jul. 29. Israeli startup Cybellum raised a $12 million Series A round, led by RSBG Ventures GmbH with additional investment from existing investors Blumberg Capital and Target Global.

Jul. 29. Ermetic Ltd. has closed a $17.25 million Series A round of financing led by Accel, together with the company’s seed round investors Glilot Capital Partners, Norwest Venture Partners, and Target Global.

Jul. 24. BlueVoyant raised $68 million in a Series B round of funding led by Singapore state-owned investment company Temasek Holdings.

Jul. 23. Quantexa picked up $64.7 million in a Series C financing round led by Evolution Equity Partners, with participation also from previous backers Dawn Capital, AlbionVC, HSBC and Accenture, and new backers ABN AMRO Ventures.

Jul. 23. CyCognito secured a $30 million round of Series B funding to expand its unique approach to assessing risk. Accel led the round with participation from previous investors Lightspeed Venture Partners, Sorenson Ventures and UpWest.

Jul. 23. CalypsoAI has raised $13 million in a round of Series A financing led by Paladin Capital Group. Other investors that participated in the funding round are Lockheed Martin Ventures, Frontline Ventures, Manta Ray Ventures, Lightspeed Venture Partners, Pallas Ventures and 8VC.

Jul. 15. GoSecure has closed a $20 million Series E round of financing. The round was led by Vancouver-based venture capital firm Yaletown Partners, while Bank of Montreal and existing investors SAP/NS2 and Razor’s Edge also participated.

Jul. 15. Ravelin raised $20 million in new funding. The Series C round was led by Draper Esprit, with participation from existing investors Amadeus Capital Partners, BlackFin Tech and Passion Capital.

Jul. 14. Auth0 closed a $120 million round of Series F funding led by Salesforce Ventures, which brings Auth0’s valuation to $1.92 billion.

Jul. 14. GoSecure, Inc. raised $20 million in Series E funding led by Yaletown Partners with participation of Bank of Montreal and existing investors SAP/NS2 and Razor’s Edge. National Bank Financial Inc. acted as a placement agent in assisting GoSecure secure this financing.

Jul. 14. CYR3CON closed an $8.2 million round of financing led by Pivotal Group, with participation by Trumpf Ventures, 3Lines Venture Capital, DF Enterprises, Hike Ventures and other investors.

Jul. 13. CyberSmart raised £5.5 million in a heavily oversubscribed Series A funding round led by VC firm IQ Capital.

Jul. 9. XM Cyber closed a $17 million Series B funding round with Macquarie Capital, Nasdaq Ventures, Our Innovation Fund, and Swarth Group.

Jul. 1. Israeli startup Hunters raised $15 million in Series A funding. The investors participating in the round included Microsoft’s venture fund M12, US Venture Partners, seed investors YL Ventures and Blumberg Capital, and Okta Ventures.

VC Report Archives

– Steve Morgan is founder and Editor-in-Chief at Cybersecurity Ventures.

Go here to read all of my blogs and articles covering cybersecurity. Go here to send me story tips, feedback and suggestions.