At a glance.
- Veritas acquires HubStor.
- Swimlane raises $40 million.
- Rewind secures $15 million.
Mergers and acquisitions.
Santa Clara, California-based enterprise data protection firm Veritas Technologies has acquired Canadian cloud data backup provider HubStor, VentureBeat reports. VentureBeat says that "Veritas plans to offer the HubStor service alongside an existing portfolio of data protection tools that are already employed widely by enterprise IT organizations." Veritas VP Simon Jelley told the publication that "It was a build versus buy equation for us," and the company decided against building an equivalent platform from the ground up.
Irish cybersecurity and compliance company Sysnet Global Solutions has acquired Michigan-headquartered payment card industry (PCI) compliance and security provider NuArx, DBusiness Magazine reports. Gabe Moynagh, CEO of Sysnet, stated, "The acquisition of NuArx by Sysnet is part of Sysnet’s growth strategy and helps position Sysnet at the forefront of security and compliance....NuArx bolsters Sysnet’s cyber security and compliance solutions and plays a critical role in helping our customers meet ever-increasing threats."
Moscow-headquartered IT services firm Softline Group has acquired Indian IT consultancy Embee Software, CRN reports. Softline's founder, CEO, and chairman Igor Borovikov stated, "Buying Embee is an investment in Softline's sustained business growth for many years to come. I believe that by 2050, India will become the fourth most important economy in the world producing about 15% of global GDP. Since Softline's business is growing even faster than the national economies of countries where it operates, our prospects in India appear truly remarkable."
Leidos has completed its acquisition of Reston, Virginia-based IT service management firm 1901 Group for $215 million. The company says "The acquisition adds nearly 400 IT, cloud, and cyber specialists to the Leidos team."
Investments and exits.
Swimlane, a SOAR platform provider based in Denver, Colorado, has raised $40 million in a funding round led by Energy Impact Partners (EIP). The company says the "funding will accelerate partnerships and alliances, expand research and development, and enable further global expansion." Swimlane has also appointed James Brear as its new CEO. Brear most recently served as CEO of Veriflow (acquired by VMware in August 2019). Swimlane's former CEO and co-founder Cody Cornell stated, "I have officially transitioned to Chief Strategy Officer (CSO), to partner with James on driving product and partnership strategies for Swimlane going forward."
Rewind, a cloud backup company based in Ontario, has raised $15 million in a Series A round led by Inovia Capital, with participation from Ridge Ventures, Bessemer Venture Partners, ScaleUP Ventures, Fundfire, Mistral Venture Partners, and angel investors. The company stated, "This raise will accelerate its product development pipeline, bringing new data protection solutions to market faster than any current BaaS provider. Actively hiring across all core business functions, Rewind will also use the new capital to strengthen its R&D, sales, marketing and customer service teams to support its global market expansion.' Rewind added, "Joining the Rewind Board of Directors, Charbonneau of Inovia Capital will work closely with the team to support Rewind’s aggressive expansion efforts. In addition, Alexandra Sukin of Bessemer Venture Partners, Yousuf Khan of Ridge Ventures, and Alexander Rink of Rink Ventures will provide their insight as observers."
Quebec-headquartered data discovery and integrity assurance provider Qohash has raised CA$8 million (US$6.3 million) in a Series A round led by FINTOP Capital. The company stated, "With plans to expand across North America and accelerate commercialization, Qohash has also announced that John Philpott, General Partner of FINTOP Capital, and Laurent Simoneau, President and CTO of Coveo, will join Qohash’s Board of Directors."
Israeli web application and DDoS protection firm L7 Defense has raised $4 million in a Series A round led by TRUMPF Venture, with participation from Quick Heal. The company intends to use the funding "to solidify its technological leadership, boost its marketing and business development activities, and extend its market reach."
Alert Logic has promoted its CFO John Post to CEO, MSSP Alert reports. Jon Sachs, Alert Logic's VP of Finance, has been promoted to CFO. The company has also hired Chad Bacher (formerly Chief Product Officer at Carbonite) as SVP and General Manager of Global Channels, and promoted Brett Stewart to SVP of Business Operations.
Kroll, a division of Duff & Phelps, has hired John (Jack) Bennett as a managing director in its San Francisco office, Steve Bergman as a managing director in its Washington, DC, office, and John deCraen as an associate managing director in its Dallas office. Bennett previously led the FBI Los Angeles Field Division, Bergman previously led RSA's Global Services Advisory, and deCraen previously worked for "Alvarez & Marsal, where he was the original member of the Forensic Technology Services practice and founding member of Global Cyber Risk Services practice." Kroll also announced four other hires to its cyber risk practice internationally:
- "Karthik Ramanathan joins as senior vice president to lead and advance Kroll’s digital forensics and incident response team in Australia.
- "Jay Gomez joins as a senior vice president to help grow the firm’s cyber advisory services in Southeast Asia.
- "Mario Ciccarelli and Simone Marinari strengthen Kroll’s incident response and litigation support services in Italy.
- "Cristhian Parrot expand the firm’s system assessments and testing solutions in France."
Researcher Paul Rascagnères has left Cisco Talos to take a position as a Senior Security Researcher at Kaspersky's Global Threat Research unit, iTWire reports.
Evolv Technology has appointed Eric Pyenson as General Counsel and A.J. De Rosa as Chief Revenue Officer. Pyenson previously served as Vice President and General Counsel for Carbon Black's Security Business Unit, while De Rosa most recently served as CRO at Orbital Insight.
Companies in the news.
SC Magazine cites DataTribe's Mike Janke to the effect that cybersecurity investments remained robust throughout 2020 despite the pandemic. "2020 turned out to be stronger than we thought, even without COVID," Janke said. John Brennan, a partner at YL Ventures, has also seen increased investment activity, stating, "Security has been a very competitive market for some time, and we’re now seeing an increase in competition, both at the seed stage (where we invest) and in follow-on rounds, where later stage investors are feeling pressure to invest earlier (and with less validation)."