At a glance.
- Deloitte acquires TransientX and Sentek Global.
- Fireblocks raises $310 million.
- Interos secures $100 million.
Mergers and acquisitions.
Deloitte has acquired Hoboken, New Jersey-based zero trust network network access provider TransientX. The acquiring company said, "The deal adds TransientX’s employees and its unique, dissolvable, cloud-native application networking technology for ZTNA to Deloitte’s existing Zero Trust offerings and solutions."
Deloitte has also acquired Sentek Global, "a San Diego-based systems engineering and cybersecurity firm primarily serving the U.S. Navy." Mike Canning, US Government & Public Services Industry leader and principal at Deloitte, stated, "The acquisition of Sentek Global’s business will expand Deloitte’s existing presence in San Diego, while also bolstering our current mission-focused systems engineering capabilities and cyber offerings to other military branches and federal agencies."
Sophos has acquired Utah-based network detection and response firm Braintrace. Sophos stated, "As part of the acquisition, Braintrace’s developers, data scientists and security analysts have joined Sophos’ global Managed Threat Response (MTR) and Rapid Response teams....Braintrace’s NDR technology will support Sophos’ MTR and Rapid Response analysts and Extended Detection and Response (XDR) customers through integration into the Adaptive Cybersecurity Ecosystem, which underpins all Sophos products and services. The Braintrace technology will also serve as the launchpad to collect and forward third-party event data from firewalls, proxies, virtual private networks (VPNs), and other sources."
Maryland-based government technology consultancy Planned Systems International (PSI) has acquired Alexandria, Virginia-based technology integrator ProSphere. The company stated, "This acquisition expands PSI’s current contract and customer portfolio, adds critical capabilities in cyber security and health IT operations with their expertise in network/cloud operations and large-scale customer service centers, and strengthens the company’s commitment to the military community, including the nation’s Veterans."
Seattle-headquartered network detection and response provider ExtraHop has completed its acquisition by Bain Capital Private Equity and Crosspoint Capital Partners. The company's CEO Arif Kareem stated, "Adding the resources, expertise, and financial support of Bain Capital Private Equity and Crosspoint Capital Partners will allow ExtraHop to extend our leadership in the network detection and response market and continue to innovate to help our customers stay ahead of the game."
Investments and exits.
There's been a great deal of funding news this week.
Israeli cryptocurrency security company Fireblocks has raised $310 million in a Series D round led by Sequoia Capital, Stripes, Spark Capital, Coatue, DRW VC, and SCB 10X, Calcalist reports. The company's co-founder and CEO Michael Shaulov told Calcalist, "Over the past year, there have been many mergers in our sector which added anxiety to the market. PayPal bought an Israeli company and one of our other competitors was also acquired. This funding round is a very important message for the market that we are not for sale. There aren't many players in the market that can currently acquire us. We want to show everybody that we have a lot of money. The institutions with which we work like to cooperate with organizations that have a lot of money." So, if you were wondering, Fireblocks isn't on the block, and cooperating organizations should be rich organizations.
San Francisco-based cyber insurance startup At-Bay has raised $185 Million in a Series D round led by Icon Ventures and Lightspeed Venture Partners, with participation from existing investors Khosla Ventures, M12, Acrew Capital, Qumra Capital, Munich Re Ventures, Shlomo Kramer, and Glilot Capital. The company stated, "With the new funding, At-Bay will continue investing in innovation, while launching new products and expanding into new markets. The company will also continue growing its team and capabilities to improve the security of its insured businesses."
ActiveFence, an Israeli company that detects criminal and malicious activity online, announced that it's raised a total of $100 million in a Series B round and a previously unannounced Series A round. The Series B round was led by CRV and Highland Europe, while the Series A round was led by Grove Ventures and Norwest Venture Partners. Other participants included Vintage Investment Partners and Resolute Ventures. The company stated, "The funds will be used to invest in product development as well as accelerate global growth."
Toronto-headquartered password manager company 1Password has raised $100 million in a funding round led by Accel, with participation from Ashton Kutcher's Sound Ventures, Skip Capital, and a number of tech executives, TechCrunch reports. The company is now valued at $2 billion. 1Password's CEO Jeff Shiner stated, "With this latest funding round and experienced leaders at our side, we will continue to improve and grow the products our customers know and love."
Arlington, Virginia-based supply chain risk management company Interos has raised $100 million in a Series C round led by NightDragon, with participation from existing investors Kleiner Perkins and Venrock. The funding brings the company's valuation to over $1 billion. Technical.ly says Interos will use the funding "to accelerate its business following a huge growth period."
Palo Alto, California-based cyber risk management firm Safe Security has raised $33 million in a funding round led by UK telecom company BT Group. According to VentureBeat, "As a part of the investment, BT will be granted the exclusive rights to use and sell Safe Security products to organizations in the U.K. as it incorporates the platform into its wider portfolio. BT will also work with Safe Security to develop new products and with Safe’s customers to improve their cybersecurity postures"
New York-headquartered facial recognition startup Clearview AI has secured $30 million in a Series B round from "institutional investors and family offices." The company says the funding "will fuel Clearview’s continued growth."
Washington, DC-based DNS security firm DNSFilter has raised $30 million in a Series A round led by Insight Partners, with participation from existing investor Arthur Ventures, SecurityWeek reports. The company's CEO and founder Ken Carnesi told SecurityWeek that the funding "will be used on further product R&D, and expansion of the firm’s global reach."
Blockchain identity company Magic has raised $27 million in a Series A round led by Northzone, with participation from Tiger Global, Volt Capital, Digital Currency Group, CoinFund, and Placeholder, the Block reports. The company says it will use the funding "to scale its platform and double its team of over 30."
Tel Aviv-based zero trust network access company Cyolo has raised $21 million in a Series A round led by Glilot Capital Partners, with participation from National Grid Partners, Merlin Ventures, and existing investors Flint Capital, Global Founders Capital, and Differential Ventures. The company's CEO and co-founder Almog Apirion stated, "This round will allow us to accelerate growth and R&D efforts, and help new customers easily navigate the transition to Zero Trust."
Boston-headquartered cloud asset and controls platform provider Noetic Cyber has raised $20 million in a Series A round led by Energy Impact Partners, with participation from existing investors Ten Eleven Ventures and Glasswing Ventures.
Paris-based bug bounty platform provider YesWeHack has raised €16 million ($18.8 million) in a Series B round led by Banque des Territoires and Eiffel Investment Group, with participation from existing investors Normandie Participations and CNP Assurances, EU-Startups reports. The company stated that it "will accelerate recruitment in France and internationally, with no less than 100 new positions created over the next 18 months."
Arizona-based industrial cybersecurity startup SynSaber has launched with $2.5 million in seed funding from SYN Ventures, Rally Ventures, and Cyber Mentor Fund. The company says the funding "will help facilitate product development, channel relationships, and go-to-market sales."
CrowdStrike is hiring the state of Colorado's CISO, Deborah Blyth, as an "executive strategist focusing on state, local, tribal and territorial governments," CyberScoop reports. Blyth will leave her government post next month.
Cooley has added Matthew Kutcher, Bobby Earles, and Lei Shen to its Chicago office, stating, "The trio brings wide-ranging capabilities as a former high-level prosecutor, a cyber/privacy/security authority, and a seasoned litigator."
Companies in the news.
Reuters reports that a British court has rejected an attempt by Darktrace founder Mike Lynch to block his extradition to the US related to seventeen counts of alleged conspiracy and fraud. Reuters notes, "The potential extradition threat was clear in Darktrace’s April stock market float. Lynch may be forced to sell his 4.5% stake if he is convicted and the 4.5 billion pound cyber firm warned in its prospectus that a prosecution could put the company and prospective shareholders at risk of money-laundering charges."