Cybersecurity Ventures VC Report. PHOTO: Cybercrime Magazine.

VC Report, Vol. 3, No. 1: List Of Cybersecurity Companies That Raised Venture Capital In Q1 2018

From seed funding for startups to large investments in emerging players, the first quarter of this year was hot

Morag McGreevey

Sausalito, Calif. – Apr. 2, 2018

For those of us in the cybersecurity space, it comes as no surprise that Q1 2018 was a strong period for venture funding. The market is seeing enthusiastic investment at all stages of the financing process, from seed funding to late-stage investment.

“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. “At the end of 2016,  we predicted that VCs would take another big bite into cyber firms during 2017.”

Looking ahead, it appears that this confidence in the cybersecurity market will continue into the second quarter of 2018. Our deal flow summarizes.


Mar. 28. SpyCloud closed a $5 million Series A funding round with financing from existing investors Silverton Partners and March Capital Partners.

Mar. 26. Kasada raised $2.5 million in funding, in a round led by Reinventure and Our Innovation Fund.

Mar. 25. Kenna Security raised $25 million in a Series C funding round led by Bessemer Venture Partners.

Mar. 27. PreVeil announced a Series A investment from Spark Capital. This is the first outside investment in the company.

Mar. 22. CyberCube Analytics emerged from stealth mode backed by investment from Trident Capital Cybersecurity and Symantec Corporation.

Mar. 21. Averon, a developer of mobile identity verification products, raised $5 million in a Series A-1 financing round led by Avalon Ventures and Salesforce.

Mar. 20. Virsec closed a $24 million Series B funding round led by Blue IO with participating investors including Artiman Ventures, Amity Ventures, Raj Singh, and Boston Seed Capital.

Mar. 14. Luminate Security emerged from stealth mode and announced a total of $14 million in combined Round A and seed funding from U.S. Venture Partners and Aleph Venture Capital, amongst others.

Mar. 13. Airspace Systems completed a $20 million Series A funding round led by Singtel Innov8, the venture capital arm of Singaporean telecom firm Singtel.

Mar. 11. Solebit LABS Ltd. competed an $11 million Series A funding round led by threat intelligence company ClearSky Cyber Security. Other investors included MassMutual Ventures LLC and Glilot Capital Partners.

Mar. 7. Bandura Systems announced an initial funding round of $3.5 million. Investors in the seed funding round include Blu Ventures, Gula Tech Adventures, the Maryland Technology Development Corp., Prosper Women Entrepreneurs, Six Thirty, SixThirty CYBER, and UMB Financial Corp.

Mar. 7. Australian startup Forticode received $1.3 million in funding from business management software provider Pronto Software.

Mar. 5. Israeli cybersecurity startup MinerEye raised $3.6 million in its first financing round. The fund was led by Canadian venture capital fund Awz HLS Fund I.

Mar. 1. Bugcrowd closed $26 million in a Series C funding round led by Triangle Peak Partners.


Feb. 28. Qingteng Cloud Security raised $32 million in Series B funding in a round led by Sequoia Capital China.

Feb. 28. Coalition raised $10 million in Series A funding from technology investors including Vy Capital, Ribbit Capital, Valor Equity Partners, Sam Altman and Deep Nishar.

Feb. 27. Citadel Defense Company secured $12 million in Series A financing from Lightspeed Venture Partners.

Feb. 27. CyberX raised $18 million in Series B funding. The round was led by Norwest Venture Partners, Glilot Capital Partners, Flint Capital, ff Venture Capital and OurCrowd.

Feb. 27. CounterFlow AI raised $2.7 million in seed funding from Osage University Partners, the Charlottesville Angel Network, and a number of individual investors.

Feb. 22. Preempt Security raised $11.5 million in venture equity from undisclosed investors.

Feb. 21. Vectra raised $36 million in Series D financing led by Atlantic Bridge Capital, with participation from Ireland’s Strategic Investment Fund and Nissho Electronics Corp. Previous investors also contributed.

Feb. 20. SparkCognition completed a multi-part Series B financing round, which raised a total of $56.5 million. Verizon Ventures led the round.

Feb. 18. SaltStack secured $15.5 million in a Series A funding round led by venture capital firm Mercato Partners. This brings the company’s total funding to $28 million.

Feb. 19. Morphisec raised $12 million in a Series B round of funding. The round featured new investor Orange Digital Ventures, as well as existing investors Deutsche Telekom and Jerusalem Venture Partners.

Feb. 15. Authlete Co. raised $3 million in Pre-Series A investment from Toppan Printing Co., NTT DOCOMO Ventures, and MTI Ltd.

Feb. 14. Stealth Security raised an $8 million Series A round led by Shasta Ventures.

Feb. 12. SafeChain secured $3 million in funding. The financing was led by NCT Ventures, with participation from Revolution’s Rose of the Rest Seed Fund, Aspect Ventures, Precursor Ventures, Pete Knight, Social Capital, Rev1 Ventures, Loud Capital, and Fintech71.

Feb. 14. Infocyte raised $5.2 million in Series B financing in a round led by Toba Capital.

Feb. 13. Perception Point, a cloud-focused cybersecurity firm, raised $8 million in Series A funding. The round was led by Pitango Venture Capital.

Feb. 13. Payfone, a digital identity authentication network, raised $23 million in a Series F financing round led by an institutional investor.

Feb. 12. DataVisor, a provider of fraud detection solutions,  announced a $40 million Series C round of financing led by Sequoia China.

Feb. 6. SAM, a home cyber defence company, launched out of stealth and completed a $3.5 million seed round led by Blumberg Capital.

Feb. 6. DFLabs raised $3.5 million in Series A financing, led by Evolution Labs.

Feb. 6. Attivo Networks raised $1.8 million in later stage venture capital from SingTel Innov8.

Feb. 6. Aperio raised $4.5 million in seed funding from Energias de Portugal, Data Point Capital, Jump Capital and Scopus Ventures.

Feb. 6. Trunomi raised $3.5 million in early stage venture capital from CloudScale Capital.

Feb. 3. DataDome, a publisher of SaaS cybersecurity solutions, raised $3 million in early stage venture capital.


Jan. 30. Israeli virtual hacker company Pcysys raised $4.5 million in a financing round led by AWZ Homeland Security I.

Jan. 29. BigID completed a Series A financing round worth $14 million, with investment from BOLDstart Ventures, ClearSky Security, Comcast Ventures and the SAP.IO Fund, amongst others.

Jan. 29. BehavioSec raised $17.5 million in Series B investment, led by Trident Capital Cybersecurity. Cisco Investment and ABN AMRO also joined the round, alongside existing investors.

Jan. 24. Hysolate launched out of stealth, and announced an $8 million funding round led by Team8 and Innovation Endeavors.

Jan. 24. Tigera, a company that provides secure applications for cloud connectivity, raised $10 million in Series A-1 financing from Madrona Venture Group, with participation from New Enterprise Associates and Wing Venture Capital.

Jan. 18. Cryptocurrency and blockchain security company Ledger raised $75 million in a Series B financing round led by Draper Esprit.

Jan. 17. Startup VDOO Connected Trust Ltd. has raised $13 million in a funding round led by 83North Ltd. with participation by Dell Technology Capital and venture capitalists David Strohm, Joe Tucci and Victor Tsao.

Jan. 17. Baffle closed $6 million in Series A funding, with investment from Envision Ventures, ServiceNow Ventures, Thomvest Ventures and Industry Ventures.

Jan. 17. Anomali raised $40 million in Series D financing from Lumia Capital, Deutsche Telekom Capital Partners, Telstra, Sozo Ventures, GV, General Catalyst, IVP, and Paladin Capital Group.

Jan. 12. Anon AI raised £340,000 in pre-Seed funding from UCL Technology Fund, the London Co-Invested Fund, AI Seed and Ascension Ventures.

Jan. 10. Arctic Wolf raised $16 million in a Series C financing round led by Sonae Investment Management with participation from Lightspeed Venture Partners, Redpoint Ventures and Knollwood Investment Advisory.

Jan. 3.  AlgoSec, a provider of security policy management solutions, closed $36 million in private equity funding from Claridge IL, a growth technology investment partnership between CDPQ and Claridge Inc., the Stephen R. Bronfman Family Office.

Cybersecurity Ventures expects to see significant VC and corporate investor deal flow in the cybersecurity space for the rest of 2018.

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