At a glance.
- Carlyle acquiring ManTech International for $4.2 billion.
- Ballistic Ventures debut fund closing at $300 million.
Mergers and acquisitions.
Washington, DC-based global investment firm Carlyle will be acquiring cyber and technology contractor ManTech International for $4.2 billion. Kevin Phillips, President and Chief Executive of ManTech said they will take advantage of Carlyle’s “deep knowledge and experience investing in and growing companies.”
France-based defense and electronics group Thales will be acquiring two European cybersecurity companies, S21sec and Excellium, for $120 million euros. The company stated, “The acquisition (...) is an important step forward for Thales in the highly dynamic market for cybersecurity consulting and managed services, which anticipates significant growth between 2020 and 2025.”
New Jersey-based access governance solutions company Pathlock has announced mergers with ERP data security solutions provider Appsian and governance, risk and compliance management (GRCM) software provider Security Weaver. Pathlock is also acquiring GRCM provider CSI Tools, and holistic SAP solution provider SAST Solutions. As part of these mergers and acquisitions, Pathlock has also raised $200 million in capital raise, led by Vertica Capital Partners. Vitaly Vorobeychik, Managing Director, Vertica Capital Partners, said, “The combined company, Pathlock, will now offer the most robust library of productized controls for business applications on the market today.”
Virginia-based threat intelligence company LookingGlass Cyber will be acquiring business intelligence and strategic advisory firm Next5, and Next5 founder Bryan Ware will also be joining LookingGlass as CEO. Ware said, “Next5’s expert network and business intelligence services combined with LookingGlass’s innovative technologies only strengthens our ability to support our customers’ critical cyber missions.”
Investments and exits.
California-based venture capital firm Ballistic Ventures announced a debut fund expected to close at $300 million. General Partner Ted Schlein said, “At Ballistic, we have assembled the who’s who in cybersecurity – a deep bench of the best operators, entrepreneurs and investors who have been at the forefront of industry for three decades,” said Schlein. “Through launching and scaling powerhouse companies like Fortify and Mandiant, our partners have changed the very trajectory of the industry. For us, the cybersecurity fight is real and personal – and the need for revolutionary solutions has never been more urgent.”
California-based analytics application database Imply Data has raised $100 million in Series D financing, led by Thoma Bravo with participation from OMERS Growth Equity. Robert (Tre) Sayle, a Thoma Bravo partner, said, “We’re excited to lead Imply’s Series D. FJ and his team are at the cusp of a market evolution in analytics, opening up a whole new world of analytics use cases and economic value. It was clear from the beginning of our relationship that we would enjoy a strong partnership with management, and they very much appreciated the level of experience we bring to the table as software-specialist investors over the last 20 years.”
California-based email security startup Material Security has raised $100 million in Series C funding, putting the company valuation at $1.1 billion. SecurityWeek reports that “Material offers security teams the ability to redact sensitive content in email -- even older archived mail -- and make them available only after a two-factor verification step. This lets the company market tools to help with email data leak prevention, ATO (account takeover), phishing herd immunity and other visibility and admin controls.”
California-based cloud security startup Pangea Cyber announced $25 million in Series A funding, led by Ballistic Ventures with participation from SYN Ventures, Godfrey Sullivan (Former Chairman & CEO, Splunk), George Kurtz (Founder & CEO, CrowdStrike) and Dan Plastina (Former VP AWS Security Products). Founder and CEO of Pangea, Oliver Friedrichs said, “The meteoric rise of the Cloud has created tremendous opportunities for businesses around the world and yet the security industry has focused on building products for the enterprise end-user, not the app builder. APIs are often after-thoughts. We are seizing the opportunity to give builders the capabilities they need to deliver a compliant and secure customer experience, easier and faster.”
Colorado-based application security testing provider StackHawk has raised $20.7 million in Series B funding, led by Sapphire Ventures and Costanoa Ventures. Joni Klippert, Founder and CEO of StackHawk, said, “What really sets Stackhawk apart from legacy DAST vendors is the ability to run security tests in CI/CD.”
Israeli cloud-native security operations platform devOcean has raised $6 million in seed funding, led by Glilot Capital Partners, with participation from angel investors. Founder Doron Naim said, “devOcean was established as a solution to give CISOs and security teams the transparency they need to get a full understanding of security issues and how they affect the application as a whole while also providing insight into how, and who, is best to solve a particular issue.”
California-based zero trust firm Xage Security has raised a $6 million “top-up” on their Series B funding raised in January, with the new financing coming from SCF Partners. Duncan Greatwood, Xage CEO, told SecurityWeek, “The top-up gives us an opportunity to accelerate our business. And also, frankly, it allows us to spend a little bit more money and take a more aggressive approach to growth than perhaps we would have done otherwise.”
Austin, Texas-based Identity Governance and Administration (IGA) company BalkanID has raised $5.75 million in seed funding, backed by Uncommon Capital, Afore Capital, Sure Ventures, as well as security leaders and tech entrepreneurs. The company stated, “By helping organizations find and fix problematic entitlements across their SaaS and cloud landscape, BalkanID enables IT and security teams to integrate the principle of least privilege into security and IT operations.”
Africa-based identity verification API IdentityPass has raised $2.8 million in seed funding, led by MaC Venture Capital. The company said that it will use the funding “to expand its existing infrastructure.”
California-based company Rubrik has announced the launch of its Rubrik Security Cloud to secure data. Bipul Sinha, Rubrik CEO and co-founder said, “Every company in the world is vulnerable as cybercriminals get more savvy every day. With Rubrik Security Cloud, we are strengthening customers' defenses so they can secure their business across enterprise, cloud, and SaaS workloads. Our data security platform enables our customers to defend their data, recover quickly and prevail in this new cyber landscape.”