At a glance.
- ZeroFox to go public via SPAC.
- PlainID raises $75 million.
Mergers and acquisitions.
New York-headquartered governance, risk, and transparency company Kroll has acquired Canadian cybersecurity consultancy Security Compass Advisory. Kroll stated, "With the additional resources and expertise of Security Compass Advisory, Kroll expands its red team, penetration testing and cloud security capabilities to deliver agile-friendly testing that seamlessly integrates with development teams to deliver safer code, faster."
Boston-based remote access software provider LogMeIn intends to establish its password management subsidiary LastPass as an independent company. LogMeIn's President and CEO Bill Wagner stated, "As the leading password manager for individuals and businesses, this change allows us to strategically increase focus, investment, and support in LastPass to be able to solve your password problems faster and in even more innovative ways. As customers, you’ll start to see us deliver an enhanced LastPass, on an accelerated timeline. We are working on faster, seamless save and fill, a delightful mobile experience, and even more third-party integrations for businesses, among many other updates. We are expanding our support channels so we can answer your questions faster, right when you need them, and you’ll be welcomed by a new look and feel on our website."
ClosingLock, an Austin, Texas-based "wire fraud prevention platform for the real estate industry," has acquired Ohio-based wire fraud prevention company SafeWire. Andy White, CEO and co-founder of ClosingLock, stated, "This acquisition allows ClosingLock to offer SafeWire's customers a broader portfolio of tools to combat wire fraud. We remain committed to our mission of ending wire fraud in real estate, and this acquisition moves us closer to that goal."
Chicago-headquartered risk and compliance firm Donnelley Financial Solutions (DFIN) has acquired London-based data security and privacy company Guardum. Craig Clay, president of Global Capital Markets at DFIN, stated, "Incorporating Guardum's data security and public information technology into our platform creates privacy intelligence by identifying and protecting our clients' sensitive data, automating time-consuming processes, and reducing the risk of exposing sensitive data to comply with the growing number of privacy regulations in an ever-changing digital world."
Investments and exits.
Baltimore, Maryland-headquartered social media risk prevention company ZeroFox will go public via a SPAC merger with L&F Acquisition Corp., Technical.ly reports. ZeroFox will also acquire Portland, Oregon-based privacy protection and data breach response company IDX as part of the transaction. The company says the deal will "result in ZeroFox becoming a publicly traded company with an expected equity value of approximately $1.4 billion, assuming no redemptions." ZeroFox's Chairman and CEO James C. Foster stated, "With this transaction, we are creating the industry’s first publicly traded company that is focused on providing an enterprise external cybersecurity SaaS platform. We intend to leverage this growth capital to continue investing in our artificial intelligence capabilities, scaling our go-to-market efforts and expanding our world-class team. We believe this will create value for our existing and new shareholders whilst we focus on growth, expanding our triple-digit net retention and delighting our customers."
Israeli identity access management firm PlainID has raised $75 million in a Series C round led by Insight Partners, with participation from Itai Tsiddon, Viola Ventures, and existing investors. The company says it "will use the funding to expand its Go-To-Market strategy, accelerate product development and further its vision of enabling organizations to simply and securely govern, administer and control who can access assets across their digital landscape." PlainID has also "announced new appointments to its senior executive team - Gil Levonai to Chief Marketing Officer, Thomas Ammirati to Chief Revenue Officer, and Eli Shay to VP of Global Services."
Florida-based mobile device virtualization company Corellium has raised $25 million in a Series A round led by Paladin Capital Group, Cisco Investments, and other strategic investors. The company stated, "This equity-only round will be used to accelerate our growth, support partnership initiatives, and expand our platform to deliver a wider variety of virtual IoT devices."
Quad9 has hired Timo Koster as Chief Strategy Officer. Quad9 stated, "Koster retired from the Dutch Foreign Service last year after a 30-year diplomatic career which he ended as Ambassador-at-Large for Security Policy and Cyber."