At a glance.
- Macrometa and Akamai partner to create cloud-developer platform.
- Island raises additional $60 million in funding.
- Layoffs and resignations.
Mergers and acquisitions.
Global data network Macrometa has announced a partnership and product integrations with content delivery network services provider Akamai Technologies. In addition, Akamai oversaw a new round of funding for Macrometa. This partnership enables Macrometa and Akamai to bring three components together into a single cloud developer-focused platform, called Linode.
France-based telecommunications company Orange has acquired two Swiss cybersecurity companies, SCRT and Telsys. “This is another step forward in our goal to establish ourselves as the European leader in cybersecurity. We are accelerating into the seventh cybersecurity market in Europe and thus consolidating the position of the Orange Group in the Swiss market,” said CEO of Orange Cyberdefense, Hugues Foulon.
Investments and exits.
Island, the Dallas-based creator of the Enterprise Browser, has announced an additional $60 million in funding, led by Georgian. This investment extends the company’s previously announced Series B funding round. This funding will be used to continue the company’s mission to provide security for enterprise users’ needs.
Laika, a compliance solutions provider based in New York, has raised $50 million in Series C funding, led by Fin Capital, with contributions from Centana Growth Partners, Canapi, J.P. Morgan Growth Equity Partners, and ThirdPrime. The company plans to use the funding for marketing, development of product, and sales growth.
Offensive cybersecurity company Bishop Fox has raised $46 million in growth funding, led by WestCap, with participation from NextEquity Partners and Rockpool Capital. The Arizona company will use the funding for expansion of their Cosmos platform, driving go-to-market strategy in North America, Europe and Latin America, and growing internal training programs.
Washington, DC-headquartered cybersecurity platform Trinity Cyber has raised $26.3 million in debt from an undisclosed source. The firm’s precious funding includes a $23 million Series A round in 2019.
San Francisco-based hybrid access as a service (HAaaS) provider Cloudbrink has emerged from stealth with $25 million in funding, led by Highland and The Fabric. "Cloudbrink's HAaaS replaces legacy VPN and SD-WAN architectures and enables employees to work from anywhere in the world. We're seeing an order-of-magnitude reduction in file transfer times and a terrific audio/video quality improvement. The business cares about that because when you transform the quality of experience for the user you don't just increase productivity, you transform morale,” said CEO and Co-Founder of Cloudbrink, Prakash Mana.
AppSecOps platform provider ArmorCode, headquartered in Palo Alto, has raised $14 million in Series A funding, led by Ballistic Ventures, with contributions from Sierra Ventures, Cervin, John Donovan, Oliver Friedrichs, John M. Jack, and Tom Reilly. "This funding, and being able to close it in only two weeks, provides further evidence of the importance of improving AppSec and breaking down the silos separating development, security, and operations. This funding will help our business scale as we provide the industry leading AppSecOps platform and enable more organizations to secure their AppSec posture,” said CEO and Co-Founder of ArmorCode, Nikhil Gupta.
Montreal-based DevSecOps automation platform startup BoostSecurity has emerged from stealth with $12 million in funding, led by Sorenson Capital, with contributions from Hoxton Ventures, Golden Ventures, Firebolt Ventures, and Transform VC. The funding will be used for go-to-market strategy and engineering initiatives.
Endor Labs, a California company focused on helping companies manage dependencies, has received a strategic investment from members of the Silicon Valley CISO Investments (SVCI), powered by GGV Capital. Oren Yunger, Partner at GGV Capital, said, “Endor Labs is tackling one of the most painful problems security and engineering teams face today: How do you accelerate development with open source software without exposing yourself to risk? This company features a world-class team of engineers and executives who have developed a unique approach with truly innovative technology, and the strong response from our members validates that they’re on to something big. We’re excited for our partnership!”
Network security provider Cato Networks announced growth in the company’s annual recurring revenue (ARR), from $1 million to $100 million over five years, Fierce Telecom reports. Analysts report that this may make Cato a good candidate for going public in the future.
The National Security Agency (NSA) is reconsidering a $2.4 billion award made to CACI International for network and exploitation analysis services after complaints from competitors, Washington Technology reports. Booz Allen Hamilton and Leidos reportedly complained to the Government Accountability Office (GAO), objecting to the ways the NSA evaluated the proposals. The NSA said in a corrective action that all proposals are being reevaluated.
Palo Alto Networks has announced that it has entered into a nine-figure, multiyear deal with the Department of Defense. The company will provide the department with Internet Operations Management (IOM) capabilities through their Cortex Xpanse attack surface management solution.
Layoffs and resignations.
This has been a tumultuous week in tech for many major organizations, with Twitter at the forefront of the news. Following the news of Elon Musk laying off half of Twitter’s workforce last Tuesday, Wired reports, Twitter saw the resignations of top executives last week, including the company’s Head of Moderation and Safety, Chief Information Security Officer, the company’s Chief Privacy Officer and its Chief Compliance Officer, the Washington Post reports. A tweet from writer Casey Newton on Sunday reads, “Update: company sources tell me that yesterday Twitter eliminated ~4,400 of its ~5,500 contract employees, with cuts expected to have significant impact to content moderation and the core infrastructure services that keep the site up and running.” Business Insider reports that Facebook's former CSO Alex Stamos has been critical of Musk’s approaches, advising Musk to "stop firing best engineers for correcting your clear misstatements." Amid the news surrounding Twitter’s workforce, Bloomberg reports that Mr Musk called bankruptcy a “possibility” for the social media giant if it doesn’t generate more cash. Mr Musk's Twitter Blue experiment also quickly went awry, with CNBC reporting a pause in the service after users abused the service to impersonate brands and celebrities.
Satnam Narang, Senior Staff Research Engineer at Tenable, commented on the impact of the Twitter Blue fiasco: "As we’ve seen from the initial roll-out of the blue verified badge for paying subscribers, there has been rampant impersonation of a variety of brands, which has led to a halt on the program for now. While paying $8 to receive a blue verified badge may seem like the most obvious way for scammers to steal money or cryptocurrency from users, an overlooked area of concern is that the traditional tactic of compromising a verified Twitter account to launch impersonation attacks will become much easier because of the availability of more verified accounts for scammers to target”.
"Since earlier this year, I’ve recommended that Twitter add some type of contextual awareness around verified accounts making changes to their accounts or identifying suspicious behavior from verified accounts that have changed things, such as their profile photo or display name. The additional context, similar to the birdwatch functionality on Twitter, could be a way to help thwart scammers from successfully duping users out of their money or cryptocurrency."
Salesforce has also had to lay off hundreds of employees, TechCrunch reports, but the company wouldn’t give an exact number, only confirming that it was less than a thousand employees.
Tom Kellermann, CISM, Senior VP of Cyber Strategy at Contrast Security, spoke of the state of the tech workforce in a comment: “The massive reduction in the labor force and the recent resignations by C-level cybersecurity and privacy executives will create a vacuum. Lack of investment in cybersecurity and content moderation will allow for cyberspies and cartels to launch targeted cyberattacks from the platform. Confusion over security policies and new management of the platform will be used by attackers to drop payloads and attacks, not just disinformation.”