At a glance.
- IronNet to go public via SPAC.
- Lookout acquires CipherCloud.
- Recorded Future to acquire Gemini Advisory.
Mergers and acquisitions.
Virginia-based IronNet will go public via a merger with SPAC LGL Systems Acquisition Corp. The company stated, "The transaction will allow IronNet to accelerate its growth trajectory in the rapidly growing cybersecurity market and to capitalize on strong demand for new and more effective ways to defend against growing cyber threats. Upon close of the transaction, the combined company will be renamed 'IronNet Cybersecurity, Inc.' and will be listed on the New York Stock Exchange and trade under the ticker symbol 'IRNT.'"
San Francisco-based mobile device security firm Lookout has acquired San Jose-headquartered SASE company CipherCloud. The company stated, "The integration of CipherCloud and Lookout technologies will remove friction, increase usability and convenience, enable user freedom and reduce operational costs when compared to a collection of siloed point products."
Threat intelligence company Recorded Future, based in Massachusetts, has agreed to acquire New York-headquartered fraud analytics firm Gemini Advisory for $52 million. Recorded Future stated, "The acquisition accelerates Recorded Future's growth into the fraud analytics market. Upon acquisition, Gemini Advisory will operate as an independent business unit inside of Recorded Future, and will continue to maintain and support its unique technical capabilities and global client base." As Fortune points out, Gemini Advisory was founded by a Recorded Future alumnus.
Fulton, Maryland-based DevOps automation company Sonatype has acquired MuseDev, a code analysis platform provider based in Portland, Oregon. Sonatype stated, "With the addition of Muse, the Sonatype Nexus platform now offers customers full-spectrum control of the cloud-native software development lifecycle including: first-party source code, third-party open source code, infrastructure as code, and containerized code."
Australian cybersecurity company Tesserent has acquired the managed security business of New South Wales-based secure computing platform provider Secure Logic for a total of AU$22 million, ARN reports. Tesserent's chair Geoff Lord stated, "I welcome Secure Logic to the [Tesserent] group, strengthening our position as the leading provider of government-focused cybersecurity solutions and services in Australia and New Zealand."
Risk analytics firm QOMPLX, headquartered in Virginia, will acquire Maryland-based cyber intelligence company Sentar. Jason Crabtree, co-founder and CEO of QOMPLX, stated, "We are excited that this team of experts, who will be further enabled by QOMPLX technology, will continue forward as a key platform for future growth and delivery of critical capabilities across the government. Sentar is the perfect catalyst and partner for QOMPLX to scale a unique combined offering bridging technology and domain expertise across the national security and broader government sector in this critical time. Very tactically, we are excited about the future opportunities to advance our robust capabilities in Active Directory and authentication security, industrial control systems and operational technology, and healthcare-related security offerings."
Austin, Texas-based identity security company SailPoint will acquire Fort Lauderdale, Florida-based SaaS governance, risk, and compliance firm ERP Maestro. The company stated, "With ERP Maestro’s capabilities, SailPoint’s Identity Platform will soon provide the unified view and real-time, actionable, and business-focused intelligence that organizations need to analyze logical access to critical business systems and then to identify potential areas of SoD conflict before access is ever granted. This pairing will also provide organizations with a compliant, automated process to grant temporary elevated access to users without adding unnecessary risk."
Connecticut-based data backup company Datto has acquired Tel Aviv-based cyber threat detection provider BitDam. BitDam's co-founder and CEO Liron Barak stated, "We are thrilled to be joining the Datto team to help shape the security roadmap for MSPs as threats evolve globally. Thanks to the talented BitDam team, whose excellence in cybersecurity technology innovation has led our journey here, our patented technologies can help protect cloud-based remote workforces from unknown cyber threats at an even greater scale through Datto."
Investments and exits.
San Francisco-based cyber insurance and security company Coalition has secured $175 million in a funding round led by Index Ventures, with participation from General Atlantic and existing investors. The company says it plans to use the funding to:
- "Build the digital insurance company of the future. "The future of insurance will be defined by technology, and we will continue to invest in building a leading technology company focused on innovation across all aspects of the insurance value chain," said Motta.
- "Expand to new product lines. Following its explosive growth in cyber and technology insurance, Coalition plans to imminently launch new insurance products to address a range of risks facing the modern enterprise — many of which are not well covered by standard business insurance policies.
- "International expansion. Following its expansion into Canada in 2020, Coalition plans to expand its offerings into multiple new international markets."
Fremont, California-based data governance and privacy company Privacera has raised $50 million in a Series B round led by Insight Partners, with participation from Sapphire Ventures, Battery Ventures, and existing investors Accel, Cervin, and Point72. The company says the funding "will be used to fast-track its go-to-market strategy and further extend Privacera's investment in its unified system for data governance and privacy across multiple cloud services such as Databricks and Snowflake."
Tel Aviv-headquartered XDR firm Cynet has raised $40 million in a Series C round led by Greenfield Partners, with participation from existing investors Norwest Venture Partners, Vintage Investment Partners, BlueRed Partners, and Deutsche Telekom. The company says, "The investment will be used to meet the vigorous demand for Cynet’s Autonomous XDR Platform from companies of all sizes, including those with small security teams in need of more holistic and efficient cyber solutions. Following a steep rise in sales in North America during 2020, Cynet is poised to maintain its rapid expansion in the North American and European markets." Cynet has also hired security researcher Chris Roberts as Chief Security Strategist.
Cyware, a network security company based in New York, has raised $30 million in a Series B round led by Advent International and Ten Eleven Ventures, with participation from existing investors Emerald Development Managers, Mercato Partners' Prelude Fund, Great Road Holdings, and Zscaler, Crunchbase News reports. The company says it "will use the funds to double down on product innovation, increase hiring across all departments, and expand its global sales and channel programs."
Texas-headquartered SIEM provider Securonix has received a $24 million investment from Capital One Ventures. Securonix stated, "The strategic investment allows Securonix to continue to accelerate hypergrowth driven by demand for its Cloud SIEM platform. Through this partnership, Securonix will collaborate with the Capital One team to develop new product use cases for monitoring cyberattacks, insider threats, fraud, application security, and OT/IoT security, and drive wider adoption of its Cloud SIEM platform across financial services and other industry segments."
Tel Aviv-headquartered vulnerability remediation orchestration firm Vulcan Cyber has secured $21 million in a Series B round led by Dawn Capital, with participation from Wipro Ventures and existing investors YL Ventures and Ten Eleven Ventures. The company says it "will use the funds to support the rollout of new vulnerability remediation solutions for cloud and application security teams, and to deliver Vulcan Free."
San Mateo, California-based FIDO-certified authentication provider LoginID has raised $6 million in a seed funding round led by "Fabrice Grinda from FJ Labs (Zingy), Will Wang Graylin (Roam sold to Ingenico and LoopPay sold to Samsung, OVLoop, Indigo), George Wallner (founder of Hypercom and LoopPay) Damien Balsan (LoopPay and Mobeewave) and former investors in Mobeewave. The round also included investment from Asli RI, the largest KYC provider in Indonesia, and Leonis Investment."
Texas-based network and asset discovery company Rumble has raised $5 million in a funding round led by Decibel Partners. The company says it "will invest the funds to accelerate its go-to-market engine and develop the product's enterprise capabilities."
Tel Aviv-based software development security startup Argon has emerged from stealth with $4 million in funding from Hyperwise Ventures. The company's CEO Eilon Elhadad stated, "Our solution provides full visibility into the development environment and protects our customers from bad actors who seek to plant malicious code or tamper with the native behavior and uptime of the applications."
Privacy-preserving AI company Inpher, based in New York, has received an undisclosed amount of funding from the Amazon Alexa Fund. The company says it "plans to apply the funds to accelerate its go-to-market activities and to bring its privacy-preserving machine learning capabilities to connected devices and IoT services."
Arkose Labs, with its principal locations in San Francisco and Brisbane, on Friday announced the promotion of Vanita Pandey to the post of Chief Marketing Officer. She's been serving as the company's vice president of marketing and strategy.
Cambridge Global Advisors has appointed Francis X. Taylor as a partner and president, Homeland Security Today reports. Taylor formerly served as Under Secretary for Intelligence and Analysis at the US Department of Homeland Security.
Two Six Technologies has added Mike Daniels, Tiffanny Gates, Charles Hooper, and Michael McConnell to its board of directors. Daniels formerly served as chairman of the board for Two Six Labs; Gates currently serves as president and CEO of Novetta; Hooper is a Lt. General, US Army (retired) who serves as a Senior Counselor for The Cohen Group; McConnell is a former Director of the National Security Agency and former Director of National Intelligence.
Virsec has added Jim Routh as Chief Security Advisor and Board Participant. Routh has previously served as "CISO for MassMutual, the CSO at Aetna, and the Global Head of Application and Mobile Security for JP Morgan Chase."