At a glance.
- Palo Alto Networks to acquire Bridgecrew.
- Red Canary secures $81 million in Series C funding.
- Quad9 moves to Switzerland.
Mergers and acquisitions.
Palo Alto Networks will acquire Bridgecrew Technologies, a DevSecOps startup based in San Francisco and Israel, for $156 million, CRN reports. The company stated. "The proposed acquisition will enable Prisma Cloud to provide developers with security assessment and enforcement capabilities throughout the DevOps process....Bridgecrew co-founders, Idan Tendler, Barak Schoster and Guy Eisenkot, and their teams will join Palo Alto Networks."
Hardware security module (HSM) company HUB Security is merging with software security firm Advanced Logistics Development (ALD), Geektime reports. Geektime states, "Both companies see the advantage behind the merger with HUB Security’s technological innovation paired with ALD’s global sales infrastructure and network of market-leading clientele. HUB reports that institutional investors have pledged around $65 million upon completion of the merger. According to the terms of the deal, once completed, Hub will control 51% of the board of the newly merged company - which should see a post money valuation of $145 million."
New York-headquartered security monitoring company Datadog is acquiring Sqreen, an application security management startup based in Paris and San Francisco. Datadog stated, "The addition of Sqreen's application security capabilities will provide development, security and operations teams a unified platform to deliver and manage secure and resilient applications."
London-based private equity group Apax Partners is acquiring Canadian managed security service provider Herjavec Group. Herjavec Group's press release states, "The Apax Funds, in partnership with HG's management team, will look to build on the company's impressive growth rate by accelerating international expansion efforts, augmenting HG's talented team with additional threat & identity resources, and further advancing the HG Identity and HG SOAR proprietary platforms."
Tysons, Virginia-based government contractor Applied Insight has acquired Bridges, a cybersecurity consultancy based in Maryland. Applied Insight said in its announcement of the acquisition, "Bridges brings complementary capabilities to Applied Insight in network security, cross-domain solutions and analytics development using artificial intelligence. In addition, the acquisition enables the company to deliver end-to-end cloud infrastructure and data analytics in a way that is unique to the industry. It will also expand Applied Insight’s portfolio of intellectual property, strengthening its position with strategically important intelligence customers."
Tenable, a vulnerability assessment company based in Maryland, will acquire Alsid, an Active Directory security company based in Paris, for $98 million. Tenable's CEO and chairman Amit Yoran stated, "We’re impressed with the insights that Alsid brings to enterprise customers and look forward to working with the Alsid team to add this critical element to Cyber Exposure and risk management." The company added that Alsid's founders, Emmanuel Gras and Luc Delsalle, "will join Tenable in senior leadership roles focused on continuing to develop innovative solutions to Active Directory risk and security assessment and expanding into new markets globally."
Investments and exits.
Red Canary, a managed detection and response firm based in Denver, Colorado, has raised $81 million in a Series C round led by Summit Partners, with participation from existing investors Noro-Moseley Partners and Access Venture Partners. The company stated, "The new funding brings the security company’s total investment to more than $125 million and will help support continued investment in both product and team expansion as the company works to meet rapidly growing customer demand and builds on its leadership position in the security operations and managed detection and response (MDR) market."
Los Altos, California-based application relationship management firm vArmour has raised $58 million in an oversubscribed funding round co-led by existing investors AllegisCyber Capital and NightDragon, with participation from Standard Chartered Ventures, Highland Capital Partners, Telstra, Redline Capital, and EDBI.
1Kosmos, a passwordless authentication startup headquartered in Somerset, New Jersey, has secured $15 million in Series A funding from ForgePoint Capital. The company says the funding will be used "to accelerate the company’s growth and product roadmap."
Boulder, Colorado-based identity orchestration firm Strata Identity has raised $11 million in a Series A round led by Menlo Ventures, with participation from ForgePoint Capital. The company stated that it "will use the funds to scale research & development, go-to-market, sales, marketing, and customer success for its Maverics platform. Strata also announced that Venky Ganesan, Partner at Menlo Ventures, has joined the company’s board of directors."
California- and Poland-based cloud infrastructure management company Spacelift has raised $6 million in a Series A round led by Blossom Capital, with participation from existing investors Inovo Venture Partners and Hoxton Ventures, Crunchbase reports. Crunchbase states, "The funding will be used to scale the company’s engineering team and build out its commercial team, which will be based in the United States, Spacelift's target market. The company, which is fully remote, has seven people on its team now, with two more joining next month, and plans to recruit 15 people across engineering, marketing and sales."
Base Operations, a threat intelligence startup headquartered in Washington, DC, has raised $2.2 million in a seed round led by Good Growth Capital, with participation from Magma Partners, First In Capital, Gaingels, and Howard Morgan, TechCrunch reports. TechCrunch says the funding "will be used primarily for hiring, as Base Operations looks to continue its team growth after doubling its employee base this past month. It’ll also be put to use extending and improving the company’s product and growing the startup’s global footprint."
UK-based threat intelligence firm Intelligence Fusion has secured £400,000 ($554,000) in funding from Maven Capital Partners, the Finance Durham Fund, The Future Fund, and existing investors. Intelligence Fusion's CEO Michael McCabe stated, "With this investment we will deepen our technology to enhance our intelligence solution, as well as add to our sales and marketing teams to increase and diversify our client base into new sectors and markets."
Silicon Valley CISO Investments (SVCI) has invested approximately $250,000 in Traceable, a San Francisco-based application security monitoring startup. CRN reports. CRN says the funding "was less about the amount of money invested and more about giving a group of practicing chief information security officers the opportunity to help shape the company’s future." Traceable's CEO and co-founder Jyoti Bansal stated, "The SVCI CISO's expertise and deep understanding of customer pain points is invaluable as we work to ensure all businesses have the tools at their disposal to properly protect their applications. We're proud to partner with SVCI as they redefine what it means to be an investor."
LookingGlass has hired Dana Mariano as its new Chief Financial Officer. Mariano previously served as CFO at Curbio. LookingGlass has also added Bryan S. Ware, former Assistant Secretary for Cybersecurity for the US Cybersecurity and Infrastructure Security Agency (CISA), and Lt. Gen. (retired) James Clapper, who had during his Government career served as Under Secretary of Defense for Intelligence and, subsequently, US Director of National Intelligence, to its advisory board.
Ivanti has hired Erik Randles as SVP of Global Channels and Alliances, Help Net Security reports. Randles previously served as VMware CloudHealth's Vice President of Global Business Development & Alliance Sales.
Mayer Brown has appointed Vivek Mohan as a partner in its Cybersecurity & Data Privacy practice in Northern California. Mohan previously served as a senior attorney on Apple's global privacy law & policy team and as the company's head of information security law.
- "Tom Bradbury is the Founder and CEO of Helix2; he has spent his career focused on the business impact of infrastructure, cyber hygiene, and software deployment practices.
- "Brian Leonard is the CEO & Co-Founder of Grouparoo; he is best known for being the technical co-Founder and CTO of TaskRabbit, a leader in the gig-economy space which sold to IKEA in 2017.
- "Susan Lindner is CEO and Founder of Emerging Media, an innovation communication consultancy focused on breakthrough storytelling for startups and F500 companies.
- "Bart Louwagie is a seasoned international IT leader in private equity and healthcare spaces; he currently serves as CISO for Daikin Europe.
- "Erinmichelle Perri is the CISO at The New York Times and former Senior Vice President, O&T Risk and Control at Citi.
- "Scott Popma is a Partner at IP Spring, with experience advising on IP issues across technologies, including gaming platforms, social networks, and a variety of industries.
- "Dave Ruedger is CISO at RMS (Risk Management Solutions), a premier provider of catastrophe risk models for the insurance industry.
- "Jeanne Shalvoy is an HR leader with extensive experience leading initiatives in complex global organizations, such as Hellman & Friedman, Charels Schwab, VISA, and The Gap.
- "Matthew Shatskes is a partner at a Global 100 Law Firm, Shappard Mullen; he advises healthcare and IT leaders, vendors, and investors on regulatory and strategic matters.
- "Kurt Steege is an enterprise and government IT veteran who serves as CTO of ThunderCat Technology.
- "Jennie Woltz is an employment and labor attorney who served some of New York's most prestigious law firms before founding her own.
- "Rob Wesorick is Microsoft's Principal Support Planner focused on the support strategy for its commercial business while overseeing a budget of $750 million.
- "Chris Wysopal is the founder of Veracode, whose achievements include pioneering automated binary analysis as a means of discovering software vulnerabilities."
Where business is done.
Non-profit DNS security platform provider Quad9 is moving its headquarters from California to Switzerland. It's a GDPR-driven move. The company stated, "Quad9 has set itself apart from other DNS providers by voluntarily placing itself within a jurisdiction which strictly enforces privacy laws to the highest global standards. Considered a stronghold of individual rights, Switzerland has a legal privacy regime harmonized with the European-standard General Data Protection Regulation. It grants individuals enforceable rights and effective remedies, giving Quad9 users around the world the full protection of Swiss law. This and other important concessions and findings of law from the Swiss government which ensure Quad9 users’ privacy and security, have made Quad9's selection of domicile a natural choice."