At a glance.
- FireEye and McAfee Enterprise merge to form Trellix.
- 1Password raises $620 million in Series C round.
Mergers and acquisitions.
Symphony Technology Group companies FireEye and McAfee Enterprise completed their merger today to form Trellix, "a new business delivering extended detection and response (XDR) to organizations with a focus on accelerating technology innovation through machine learning and automation." The companies said in a press release, "Trellix's XDR ecosystem is designed to accelerate the effectiveness of security operations by providing customers with the capability to ingest over six hundred native and open security technologies. By providing security analysts with better insight, granting more control, and delivering comprehensive threat context, analysts can save time and act decisively to remediate threats....STG is expected to launch the McAfee Enterprise Secure Service Edge (SSE) portfolio as a separate business later this quarter, inclusive of Cloud Access Security Broker (CASB), Secure Web Gateway (SWG) and Zero Trust Network Access (ZTNA)."
ZDNet notes that "Trellix is said to have a combined customer base of 40,000, about 5,000 employees, and almost $2 billion in revenue."
Utah-based DigiCert has acquired Sunnyvale, California-headquartered IoT security provider Mocana. DigiCert's CEO John Merrill stated, "With the addition of Mocana, DigiCert is building on its vision for delivering digital trust, a growing necessity in the IoT market as smart devices become ubiquitous in every corner of our personal and professional lives. We are excited to introduce new and existing customers to our integrated platform and welcome the addition of Mocana’s expertise in IoT technology and the industrial and manufacturing verticals to the DigiCert team."
Godspeed Capital Management LP has acquired Maryland-based Exceptional Software Strategies, "a leading provider of information technology solutions to mission-oriented Federal agencies." The company stated, "The newly acquired ESS will join Godspeed Capital’s recently formed high-end cyber and technology solutions platform holding company, designed to provide U.S. Defense and Intelligence Community agencies with a full suite of solutions to combat an increasing and ever-evolving level of cybersecurity and intelligence threats."
Investments and exits.
Toronto-based password management company 1Password has raised $620 million in a Series C round led by ICONIQ Growth, with participation from Tiger Global, Lightspeed Venture Partners, Backbone Angels, Salesforce Ventures, and existing investors Accel and Slack Fund. A number of business leaders and celebrities also participated. The funding brings the company's valuation to $6.8 billion. According to TechCrunch, the company will "use its newly raised funds to drive continued growth; the company said it plans to triple its engineering and customer support teams, to build out its business-focused Events API functionality that provides visibility into successful and failed sign-in attempts, and to finance more acquisitions."
Cologne, Germany-headquartered security awareness training company SoSafe has raised $73 million in a Series B round led by Highland Europe, with participation from current investors Acton Capital and Global Founders Capital, TechCrunch reports. The company says it "will accelerate its presence in international markets and scale the development of its behavioral science-based, human-centric security solution, and aims to double the team to 500 employees."
San Francisco-based zero-trust network access provider Banyan Security has raised $30 million in a Series B round led by Third Point Ventures, with participation from SIG, Alter Venture Partners, and existing investors Shasta Ventures and Unusual Ventures. The company says the funding "will fuel and accelerate the company’s trajectory, enabling further investments in sales and marketing and continued enhancements in product innovation, solidifying Banyan’s position as the best-in-breed zero trust remote access solution. It will also help the company expand into new markets and territories."
Palo Alto, California-based cloud identity detection and response startup Permiso.io has raised $10 million in a seed funding round led by Point72 Ventures, with participation from Foundation Capital, Work-Bench, 11.2 Capital, and Rain Capital. Permiso plans to use the funding "to continue scaling its engineering team, expanding its current customer footprint, and building partnerships."
Israeli cloud data protection firm Polar Security has emerged from stealth with $8.5 million in a seed funding round led by Glilot Capital Partners, with participation from IBI Tech Fund and angel investors.
QinetiQ US has named Shawn Purvis as President and CEO, effective February 16th, 2022. Purvis currently serves as Executive Leadership Team and Corporate Vice President at Northrop Grumman Corporation.
Expel has appointed Jennifer Lawrence as Chief Revenue Officer and Kelly Fiedler as Chief Marketing Officer. Lawrence previously served as leader of Duo Security's global sales team and Fiedler most recently served as CMO at RSA Security.
Onapsis has hired Rocco Donnino as Senior Vice President of Global Strategic Alliances and Channels. Donnino previously served as the Executive Vice President of Strategic Alliances at Unbound Security.