At a glance.
- CyberCX acquires Insomnia Security.
- KnowBe4 prepares for IPO.
- Snyk raises $200 million in Series D funding.
- Palantir's unusual shareholder model.
Mergers and acquisitions.
Melbourne-based cybersecurity firm CyberCX has acquired New Zealand-based penetration testing company Insomnia Security, ZDNet reports. CyberCX CEO John Paitaridis stated, "Insomnia Security provides CyberCX with a significant enhancement to our security testing expertise and a major boost to our trans-Tasman capability."
Spanish telecom Telefónica Tech's cybersecurity company ElevenPaths has acquired UK-based cybersecurity training firm iHackLabs, Tech.eu reports. The Fast Mode quotes ElevenPaths CEO Pedro Pablo Pérez as saying, "Our relationship with iHackLabs began a few weeks after it arrived in Spain at the beginning of 2018. We are always scouting for collaboration and investment opportunities and the capabilities of the platforms and solutions developed by their team are at the cutting edge of cybersecurity training."
London-based cyber-physical security firm Ava has completed a merger between insider threat detection and response firm Jazz Networks and end-to-end video security provider Vaion (both based in the UK).
Cybersecurity business intelligence company CyberRisk Alliance (CRA) has acquired cybersecurity podcast network Security Weekly. CRA's CEO and founder Doug Manoni stated, "ecurity Weekly expands CRA’s domain expertise and a suite of mobile optimized delivery formats to better serve our audiences and marketing partners."
Investments and exits.
Florida-based security awareness training provider KnowBe4 is preparing for an IPO later this year or early next year, Reuters reports. Reuters quotes anonymous sources as saying the company could be valued upwards of $2 billion.
London-based software development security firm Snyk has raised $200 million in a Series D round led by Addition, bringing its total capital to $450 million and its valuation to more than $2.6 billion. Snyk's CEO Peter McKay stated, "With this latest investment we will accelerate even faster, expanding our cloud-native application security platform and bringing Snyk to new markets around the world."
Palo Alto, California-based collaborative SOC platform provider Anvilogic has secured $4.4 million in a seed funding round led by Foundation Capital, with participation from Point72 Ventures, Dan Warmenhoven, and Nikesh Arora, Crunchbase News reports. Crunchbase quotes Anvilogic's founder and CEO Karthik Kannan to the effect that the funding will be used to "deepen the team’s skills, specifically in research and development, and the cybersecurity domain, as well as acquire its first 25 customers."
Santa Clara, California-based network security company Infoblox has received "a significant investment" from Warburg Pincus. Infoblox's owner Vista Equity Partners will remain an investor, with Warburg Pincus and Vista as equal partners. Infoblox's president and CEO Jesper Andersen said, "This investment will further help strengthen our industry-leading DDI products while at the same time doubling down on our vision to provide cloud-managed networking and security applications that are scalable, flexible and delivered as a service on top of our BloxOne Platform."
ManTech's board of directors has elected the company's president and CEO Kevin Phillips as chairman of the board.
LMNTRIX has hired Simon Ractliffe as Vice President of Strategic Partnerships, ARN reports. Ratcliffe previously served as Head of Cyber Security for Singtel Optus, and he'll continue to serve as director of his consultancy business PDR Co.
Radiance Technologies has promoted Tim Tinsley to Executive Vice President for the Defense Sector. Tinsley previously served as the company's Senior Vice President of the Integration and Prototyping Group.
Companies in the news.
TechCrunch notes that Palantir submitted an amended S-1 filing to the SEC last week. The new version specifies that the company's founders Alex Karp, Stephen Cohen, and Peter Thiel will hold 49.999999% of the company's ownership even if they sell their shares. TechCrunch explains that "While founders of startups in recent years have often had special shares with extra votes (typically 10 votes for their special shares compared to one vote for standard shares), those votes dissipate if the underlying shares are sold. Palantir's model is unique in allowing founders to have a commanding vote even if they were to sell their shares — in other words, voting power without underlying shareholder power, in direct contradiction to modern shareholder theory."
The Verge reports that Samsung and SK Hynix will cease selling chips to Huawei when new US restrictions come into effect on September 15th.
And security innovation.
Scotland plans to launch five new hubs (called "tech scalars") to nurture at least 300 tech startups by 2025, following entrepreneur Mark Logan's review of the sector, Computing reports. The Scottish government is providing £4 million in initial funding, and is "also setting up an Ecosystem Fund to make strategic investments in the sector and plans to establish a formal partnership with the technology industry to drive forward Mr Logan’s longer-term recommendations."
Finance Secretary Kate Forbes stated, "These hubs will transform the quality and intensity of support available to Scottish start-ups, delivering world-class education to tech entrepreneurs, helping this vital sector to grow and create jobs. They will also offer the chance to network and share ideas, helping the sector to grow and laying the groundwork for Scotland's digital future."