At a glance.
- Ericsson will provide BT's 5G network core.
- Huawei's growth slows due to pandemic and US blacklisting.
- Recorded Future reports $100 million in annual recurring revenue.
- US Senate votes to approve more funding for the Small Business Administration's PPP.
Mergers and acquisitions.
Colorado-based SOAR platform provider Swimlane has acquired Washington, DC-headquartered incident response firm Syncurity. Swimlane's co-founder and CEO Cody Cornell stated that "Swimlane’s mission is to solve the problems facing security teams with a unified defense platform that enables individuals and teams to do more with less, and now we can deliver that value to an even larger customer base."
Investments and exits.
Mountain View, California-based event stream processing company Confluent has raised $250 million in a Series E round led by Coatue Management, with participation from Altimeter Capital, Franklin Templeton, Index Ventures, and Sequoia Capital. The company is now valued at $4.5 billion. TechCrunch notes that Confluent was valued at just $2.5 billion after raising $125 million in a Series D round last year. The company's CEO Jay Kreps said that starting with May, "Each and every month for the rest of the year, we will announce a major new set of product capabilities, organized around the core tenets we think should be mandatory for cloud infrastructure."
Tel Aviv-based behavioral biometrics company BioCatch has raised $145 million in a Series C round led by Bain Capital Tech Opportunities, with participation from Industry Ventures, American Express Ventures, CreditEase, Maverick Ventures, and OurCrowd. The company says the funding "will accelerate BioCatch's rapid growth, broaden its product offerings and further support its expanding client base into new verticals."
San Francisco-based digital identity management company ForgeRock has raised $93.5 million in Series E funding from Riverwood Capital and its existing investors. ForgeRock's CEO Fran Rosch said the "funding will enable us to infuse every aspect of the ForgeRock Identity Platform with the power of artificial intelligence (AI) so organizations can identify the actions that move the needle in order to make better, faster decisions. This new round will also support our cloud ambitions and turbo-charge our sales, marketing, and customer success organizations to take them to the next level."
Coder, a Texas-headquartered startup that offers a secure, cloud-based code development suite, raised $30 million in a Series B round, Crunchbase News reports. The round was led by GGV Capital, with participation from In-Q-Tel, Uncork Capital, and Redpoint Ventures. According to Crunchbase, the funding "will go toward supporting an 'aggressive' hiring plan and toward product innovation and increased global growth."
Sunnyvale, California-based breach-and-attack simulation provider SafeBreach has closed a $19 million Series C round led by OCV Partners, with participation from Sequoia Capital, Deutsche Telekom Capital Partners, DNX Ventures, Hewlett Packard Pathfinder, and PayPal. SafeBreach says it will use the funding "to accelerate product development to address the growing needs of customers and to accelerate sales channel and partnership growth on a global scale. In addition, the company will add a suite of new services for its rapidly growing base of customers who have embedded SafeBreach BAS into their daily operations as a means to continuously validate security posture and optimize configurations of existing security tools."
WIRED reports that John Martinis, Google's head of quantum computing hardware, has resigned after being reassigned to an advisory position. WIRED says this "led to disagreements with Hartmut Neven, the longtime leader of Google’s quantum project."
Menlo Security has appointed Joe Sexton to its Board of Directors. Sexton was most recently President of Worldwide Field Operations at AppDynamics, and before that "spent significant time in senior executive leadership roles at McAfee, Mercury Interactive and CA Technologies."
The Alberta Machine Intelligence Institute (Amii) has appointed Cam Linke as its new CEO, BetaKit reports. Linke has been a member of Amii's board since 2015, and served as interim executive director between May and October 2018.
Exclusive Networks has added Nigel Gilhespy as Global Head of Professional Services & Consulting. Gilhespy previously worked for Optiv as Head of Professional, Advisory, and Managed Services for EMEA.
Saviynt has appointed Scott Plutko as Senior Vice President of the company’s Global Partner Organization. Plutko previously spent eighteen years at Deloitte, most recently serving as a Managing Director of sales and third-party relationships for Deloitte's Cyber Risk unit.
Aviatrix has appointed Karl Driesen as Vice President of EMEA Sales and Ides Vanneuville as Senior Director of EMEA Systems Engineering. Driesen was previously Vice President of EMEA Sales at Rubrik, and Vanneuville was most recently Director of Solutions Engineering EMEA for Transmit Security.
Ciena has hired Mary Yang as senior vice president and chief strategy officer and appointed Jürgen Hatheier as Chief Technology Officer and Vice President of Strategic Sales for Europe, the Middle East, and Africa. Yang was most recently vice president of corporate and business development at NIO, while Hatheier previously "held leadership positions at Pacific Broadband Networks, ARRIS Group and Technetix."
Zeneth Technology Partners has appointed Jonathan Edwards as Senior Partner and Ryan Marks as Partner and Vice President of Technology & Innovation. Both previously worked within Jacobs Engineering's Cyber Business Unit—Edwards as Senior Director of Cybersecurity and Marks as Director of Cybersecurity.
Security companies in the news.
Swedish telecommunications company Ericsson won the contract to replace Huawei's gear in BT's 5G network core, SDxCentral reports. Huawei's equipment had already been installed in BT's network when the UK ruled that Huawei be banned from contributing to the core. The BBC says BT estimates that it will take until 2023 to finish removing Huawei's equipment. Ericsson said the coronavirus-related lockdowns may delay the rollout of 5G in Europe, although the company isn't too worried about its own margins. Reuters quotes Ericsson's CEO Borje Ekholm as saying, "There is near-term uncertainty around sales volumes due to COVID-19 and the macroeconomic situation, but with current visibility we have no reason to change our financial targets for 2020 and 2022."
The Wall Street Journal reports that Huawei's revenue growth slowed significantly due to the COVID-19 pandemic as well as blacklisting by the US. The company reported revenue growth of just 1.4% in Q1 2020, compared to 39% growth in Q1 2019. The New York Times says Huawei is gradually moving its in-house chip production to a domestic Chinese company in anticipation of more US regulations.
Threat intelligence firm Recorded Future announced that it's reached more than $100 million in annual recurring revenue.
The US Senate voted to approve an additional $310 billion for the Small Business Administration's Paycheck Protection Program (PPP), with the House expected to approve the bill this week, Fortune reports. The funding is part of a larger stimulus bill that totals $484 billion, Bloomberg says. The PPP's first round of funding ($349 billion) was drained within two weeks, and Inc. believes the new batch of funding will run out even faster than the first.