At a glance.
- Coalition raises $205 million in Series E round.
- LG acquires Cybellum.
Mergers and acquisitions.
Korean electronics company LG Electronics will acquire Israeli automotive cybersecurity firm Cybellum. LG stated, "Cybellum will enable LG to preemptively secure a sustainable growth engine in the rapidly growing automotive cybersecurity industry and deliver more value in key areas such as parts design, development and operation by optimizing software security."
IT and cybersecurity services firm Criterion Systems has acquired software engineering firm SAGE Black. Both companies are headquartered in Virginia. Criterion stated, "The SAGE Black team has joined Criterion’s Intelligence Solutions (IS) business unit, which focuses on providing systems integration and cyber operations-focused services to current and future customers. SAGE Black vice president Sean Dougherty has become a Criterion vice president, responsible for GEOINT-related software services in the IS business unit. SAGE Black founder Paul Patton has become a Criterion vice president, responsible for cultural integration and workforce development in the IS business unit."
Netherlands-based unified communications provider Enreach has acquired Latvian IT services and cybersecurity firm OSS Networks. Enreach says the acquisition will expand its market presence in the Baltics.
Herndon, Virginia-headquartered IT contractor Peraton has acquired the as-a-service business of cloud services company ViON Corporation (also based in Herndon). Peraton says the acquisition "adds key leaders, cleared employees, and contracts across the U.S. Department of Defense, civilian agencies, and state governments." Tom Frana, Chairman and CEO of ViON, stated, "ViON’s aaS business leads the industry in providing an on-prem, cloud-like experience with a platform that enables scale and governance. With its existing solutions and presence in the government market, Peraton is well positioned to capitalize on this while ViON will focus on growing its analytics and artificial intelligence solutions business."
San Francisco-based VC firm Ponte Partners has acquired shares in Palo Alto, California-based network monitoring company LiveAction. Ghia Griarte, managing partner at Ponte Partners, will join LiveAction's board. Griarte stated, "We are delighted to partner with a leading edge network monitoring and cybersecurity company. With increasing demand for strong enterprise cybersecurity solutions driven by companies instituting work from home, increasing data breaches and significant cyber incidents, LiveAction becomes mission critical to an enterprise suite of networking and security tools."
Investments and exits.
San Francisco-based cyber insurance firm Coalition has secured $205 million in a Series E round co-led by Durable Capital, T. Rowe Price Associates, and Whale Rock Capital, with participation from existing investors. The funding round brings the company's valuation to $3.5 billion. According to TechCrunch, Coalition will use the funding "to expand into new insurance lines, to fuel its expansion into new markets, and to increase its headcount."
New York City-based third-party security management company Panorays has raised $42 million in a Series B round led by Greenfield Partners, with participation from BlueRed Partners, Greenspring Associates, Moneta VC, and existing investors Aleph and Oak HC/FT. The company "intends to use the funds to expand in the U.S. and internationally, as well as innovate and develop additional advanced tools to streamline security between organizations and their vendors."
Israeli IoT security company Sternum has raised $27 million in a Series B round led by Spark Capital, with participation from existing investors Square Peg Capital, the Hinrich Foundation, and btov. The company says it "plans to use its new funding for R&D – to advance its already successful and scalable platform – and to grow its team overall as it ramps up global go-to-market efforts."
London-based threat detection company SenseOn has raised $20 million in a Series A round led by Eight Roads Ventures, with participation from existing investors MMC Ventures, Crane Venture Partners, and Winton Ventures Limited. The company stated, "The fresh capital will accelerate SenseOn’s ambitious mission through further R&D, as well as scaling its go-to-market team. To support this next phase of growth SenseOn welcomes veteran software go-to-market leader Jeremy Duggan to its board."
Portuguese website security company Jscrambler has raised $15 million in a Series A round led by Ace Capital Partners, with participation from existing investor Portugal Ventures. The company says the funding "will be used to augment marketing and sales resources in the U.S. and European markets, as well as strengthen and accelerate the product roadmap to meet current customers' expanding requirements."
Facebook will appoint Andrew “Boz” Bosworth as its new Chief Technology Officer, CNBC reports. The company's former CTO, Mike Schroepfer, is stepping down next year and will serve part-time as the company's first Senior Fellow.