At a glance.
- 1Password acquires Passage.
- Alation raises $123 million in Series E financing.
- Layoffs abound in the tech industry.
Mergers and acquisitions.
Toronto password manager 1Password has acquired Texas-based passwordless identity company Passage. 1Password says it will use the technology from Passage to launch an enterprise passwordless authentication platform. "1Password is focused on empowering companies and consumers to have safer and simpler digital experiences. As the world evolves, that means helping companies and consumers navigate all the complexities on the path to a passwordless future. With today's Passage acquisition, we are committing to giving businesses and end users what they want and deserve: the convenience of passwordless without compromising security,” said Jeff Shiner, CEO of 1Password.
Cybercrime intelligence provider Intel 471 has acquired Estonian open-source intelligence, attack surface management and digital investigations SpiderFoot. "Organizations of all sizes are facing unparalleled cybersecurity challenges as the complexity and severity of attacks intensifies. At Intel 471, our mission is to protect the world's organizations from today's most prevalent cyber risks and threats. Our acquisition of SpiderFoot reinforces our commitment to our mission by enhancing our portfolio and providing premier cyber threat intelligence solutions to organizations across the globe,” said Mark Arena, CEO of Intel 471.
Cybersecurity company HUMAN Security, based in New York, has acquired Baltimore-based clean.io, a digital engagement security platform. “By teaming up with clean.io, HUMAN is gaining significant talent with deep domain expertise along with increased signal across the internet, enhancing our collective protection capabilities for our customers across the entire digital ecosystem,” said Tamer Hassan, HUMAN’s co-founder and CEO.
SAP & cloud IT services company Codestone, based in the UK, has acquired business intelligence and software development company DSCallards. “The addition of DSCallards allows us to expand our solution portfolio and better support our existing customers while continuing to grow and serve new customers wanting an end-to-end enterprise best-in-class solution. DSCallards’ deep and broad data and analytics technology expertise across industries, secures the Group’s positioning amongst our customers that they are indeed in the best hands to achieve their full technology transformations,” said Jeremy Bucknell, Co-founder and CEO at Codestone.
Investments and exits.
California-based enterprise data intelligence company Alation has raised $123 million in Series E financing, led by Thoma Bravo, Sanabil Investments, and Costanoa Ventures, with participation from Databricks Ventures, Dell Technologies Capital, Hewlett Packard Enterprise, Icon Ventures, Queensland Investment Corporation, Riverwood Capital, Salesforce Ventures, Sapphire Ventures, and Union Grove. The funding will be used for growth, expansion, and product innovation.
Cloud native application security provider Apiiro has raised $100 million in Series B funding, led by General Catalyst, with contributions from Greylock and Kleiner Perkins. “Early innovation enabled us to grow faster and more efficiently than the competition, and we are building the company for hyper growth. The combination of our team, business momentum, and support from top-tier investors positions Apiiro to continue to lead a growing industry,” said co-founder and CEO of Apiiro, Idan Plotnik.
Managed Detection and Response provider Binary Defense, headquartered in Ohio, has raised $36 million in a first institutional growth equity funding round, led by Invictus Growth Partners. The company says that the funding will be used to “accelerate sales and marketing, broaden the partner ecosystem, expand machine learning capabilities, and create a Managed Open XDR offering.”
Israeli cybersecurity startup Veriti has emerged from stealth, raising $18.5 million in total funding. The funding includes a $12 million round led by Insight Partners, which followed a $6.5 million round led by NFX and AMITI. The funding will be used to scale the company and enhance the company’s Unified Security Posture Management platform.
API security startup Wib, headquartered in Israel, has raised $16 million in funding, led by Koch Disruptive Technologies, with participation from Kmehin Ventures, Venture Israel, Techstars and existing investors. The company says the funding will be used to enhance the Wib platform and expand internationally.
Decision technology platform Darwinium, based in California, has raised $10 million in seed funding, led by Blackbird, alongside Airtree. “The industry is seeing a surge in fraudsters capitalizing on new technology and techniques to adapt attacks targeting online businesses and currently many are operating with ‘point-in-time’ solutions that are not fit for purpose. Alongside this, the security and fraud divisions of these businesses are operating in silos which leaves them wide open to attacks. Fraud Farms walk right past bot defenses, and social engineering and malware render fraud solutions useless. Protecting your customers must be about continuously scrutinising their digital journey and behavior, rather than a point-in-time evaluation. It requires a joined-up system that allows proper collaboration between digital security and fraud via one singular view,” said Alisdair Faulkner, CEO of Darwinium. “Darwinium’s platform addresses these challenges and allows online businesses to capture valuable intelligence across their sales journey. Risk decisions can then favor the customer and not the fraudster.”
Alethea, a Washington, DC-based company focused on mitigation of disinformation and social media manipulation, has raised $10 million in Series A funding, led by Ted Schlein and Kevin Mandia of Ballistic Ventures. The funding will be used to grow engineering and data science teams.
Next DLP has appointed Constance Stack as the company’s Chief Executive Officer.
Minneapolis-based cybersecurity company HelpSystems has rebranded as Fortra, Business Wire India reports. “This is a pivotal, exciting moment for us as we’re defining a new, bold path forward that will bring positive change to the industry and our customers. Everyone at HelpSystems is rallying behind this movement to tackle seemingly unmanageable security challenges and alleviate the constant worry many of our customers face. As Fortra, we want our customers to think of us as their cybersecurity ally, with them every step of the way,” said CEO Kate Bolseth.
NortonLifeLock has changed its company name to Gen Digital following its merger with Avast, Security Brief Australia reports. “We're all a part of a new generation, regardless of age. It's not Gen X, Y or Z, it's Generation Digital. Gen's family of trusted brands has a heritage of protecting the first digital generations and is united by a shared purpose to power Digital Freedom for the next generation of our digital lives,” said Vincent Pilette, CEO of Gen.
Layoffs abound in the tech industry.
The tech sector as a whole is expecting rounds of layoffs this winter, Crunchbase reports, and some cyber companies, Varonis being the most recent, are also reducing their headcount. The most prominent recent layoffs, of course, took place at Twitter on Friday. The Verge puts the number of employees let go at around half of Twitter's pre-layoff 7500 personnel. By Sunday, however, Twitter was asking "dozens" of fired employees to return. They'd either been let go in error, Bloomberg reports, or, in other cases, Twitter belatedly realized they'd be essential to developing the new features envisioned for the platform.
Computing reports today that Meta is firing 11,000 employees, or about 13% of its workforce. Zuckerberg is holding himself accountable for the extensive layoffs, Wall Street Journal reports. “This is a sad moment, and there's no way around that. I got this wrong, and I take responsibility,” said Zuckerberg in a letter to employees. Crunchbase has a tracker detailing the current state of tech layoffs.