AlgoSec acquires Prevasio. Drata raises $200 million in Series C funding. DOD establishes cybersecurity trades for federal cybersecurity apprenticeship program.

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Summary

By the CyberWire staff

At a glance.

AlgoSec acquires Prevasio.
Drata raises $200 million in Series C funding.
DOD establishes cybersecurity trades for federal cybersecurity apprenticeship program.
Company news.
Labor markets.

Mergers and acquisitions.

Network security software company AlgoSec, headquartered in New Jersey, has announced their acquisition of SaaS cloud-native application protection platform provider Prevasio. “Applications are the lifeblood of organizations. As such, our customers have an urgent need to effectively secure the connectivity of those applications across cloud and hybrid estates to avoid unpleasant surprises. With Prevasio, organizations can now confidently secure their cloud-native applications to increase organizational agility and harden security posture,” said Yuval Baron, CEO of AlgoSec.

Volaris Group has closed its acquisition of global security technology provider Intellicene, formerly known as Cognyte Situational Intelligence Solutions (SIS). The change in name comes with a strategic change in direction, aspiring to be the global security intelligence leader of choice. “We are excited for Intellicene to enter this next chapter and together with Volaris see compelling opportunities to accelerate our growth trajectory and enhance customer focus,” said CEO Alan Stoddard. “With the strong support of our new owners, we are well positioned to capitalize on the many opportunities before us, and we see tremendous potential to expand our reach into new markets and drive new innovations and capabilities.”

Investments and exits.

Drata, a California-based continuous security and compliance automation platform, has raised $200 million in Series C funding, co-led by ICONIQ Growth and GGV Capital. This funding round brings Drata’s valuation to $2 billion. Adam Markowitz, Drata Co-founder and CEO, said "Since our inception, Drata has been designed to bridge the gap between compliance and trust through automation, and we've made significant progress in less than two years. This next phase of growth will only further accelerate those efforts, introduce a new wave of open compliance, and help us realize our vision of being the trust layer between our incredible customers and those they do business with."

California-based cloud security startup Pangea Cyber has announced a $26 million Series B funding round, led by GV, with contributions from Decibel and Okta Ventures, as well as existing investors Ballistic Ventures and SYN Ventures. This funding round brings the total amount raised by the company to $52 million. Pangea Cyber plans to use the investment to drive product development, as well as developer and builder adoption.

Passwordless authentication provider HYPR, based in New York, has raised $25 million in Series C1 funding, led by Advent International through its global tech fund, Advent Tech, with participation from .406 Ventures, RRE Ventures, Top Tier Capital, and Comcast Ventures. The company says the funding will be used to “expand HYPR’s go-to-market strategy and R&D efforts and to accelerate its mission Fix the Way the World Logs In.”

Brazilian Privileged Access Management (PAM) provider senhasegura has secured a $13 million Series A investment from Graphene Ventures. The company says that the funding will “increase its global footprint and accelerate product innovation in its flagship 360º Privilege Platform.”

Cloud identity protection platform provider Rezonate, based in Israel, has emerged from stealth with $8.7 million in funding, led by State of Mind Ventures and Flybridge, with participation from toDay Ventures, Merlin Ventures seed fund, security executives, angel investors, and strategic investors. “The rapidly-changing cloudscape together with the proliferation of human and machine identities requires a different approach. Modern infrastructures require a precise and nimble way to outsmart attackers. One that primes cloud identities and access at its core and is constantly adapting to current dynamics over yesterday’s snapshots and, for the first time, gives defenders and builders the means to act confidently,” said Roy Akerman, CEO of Rezonate.

Maryland-based cybersecurity collaborative workspace provider BalanceTheory has raised $3 million in a seed funding round, led by DataTribe. “Balance Theory provides the space to solve the building, management and communication of all aspects of an enterprise cybersecurity team in one integrated secure and trusted platform,” said Greg Baker, BalanceTheory’s CEO.

Executive moves.

Lookout has appointed Dan Donovan as the company’s Chief Revenue Officer.

Securonix has named Nayaki Nayyar as the company’s Chief Executive Officer.

Sentra has appointed Dan Gillerman to the company’s advisory board.

Sequoia Capital partner Divya Gupta is leaving the firm.

TrueFort has added Balaji Yelamanchili, CEO of ThreatConnect, to the company’s board of directors.

Sophos has appointed Gerard Allison as the company’s SVP of Sales for Europe, the Middle East, and Africa (EMEA).

Quantum Xchange has welcomed Admiral Mike Rogers to the company’s board of directors.

Strider Technologies has appointed Michael Brown to the company’s board of directors.

Cequence Security has named Wei Wang as the company’s Chief Financial Officer.

DOD establishes cybersecurity trades for federal cybersecurity apprenticeship program.

The US Department of Defense partnered with the Department of Labor in January of this year to form the first federal cybersecurity apprenticeship program via the United Services Military Apprenticeship Program (USMAP), the DOD reports. Since the establishment of the program, the DOD has identified and developed standards for what they define as “15 critical cybersecurity occupations to address military needs and potentially serve as a model for other federal agencies as well.” The finalized list of positions includes:

Network Operations Specialist
Cyber IT Knowledge Manager
Cyber Defense Incident Responder
Technical Security Specialist
Customer Service Tech Support
Fiber Technician
Cyber Database Administrator
Cyber Defense Analyst
System Security Analyst
Vulnerability Assessment Analyst
Cyber Defense Infrastructure Support Specialist
System Admin
Cyber Digital Forensics
Cyber All Source Analyst
Cyber Intel Planner

"Our peers in federal government and industry can leverage the DOD's already established cybersecurity registered apprenticeships to create their own within their organizations," said Gary Schaub, senior advisor for professional military education in the OUSD P&R. "Commonality will enhance recruitment and retention of the cybersecurity workforce as well as foster common competency and portability across federal government and industry."

Company news.

Hackuity, a risk-based vulnerability management company, has announced the opening of a United Kingdom office, the company reports. “The UK is key to our ambitious growth plans, and our launch here is a key strategic move towards further global expansion,” said Hackuity’s Vice President of EMEA & Americas, Matthew Fox. “This investment underpins our dedication to growth and building out our UK customer base, in addition to creating strong relationships with channel partners.”

Labor markets.

Global law firm Cooley LLP is laying off 150 employees; 78 attorneys and 72 paralegals and business professionals, Law360 reports. Firm leadership cites “overcapacity” as the reasoning for the layoffs. Cryptocurrency exchange Kraken is reportedly whittling down its workforce as well, CoinDesk reports. Approximately 1,100 people, or 30% of the exchange’s global employee base, will be impacted. "Since the start of this year, macroeconomic and geopolitical factors have weighed on financial markets. This resulted in significantly lower trading volumes and fewer client sign-ups," says a blog post from Kraken. “We responded by slowing hiring efforts and avoiding large marketing commitments. Unfortunately, negative influences on the financial markets have continued and we have exhausted preferable options for bringing costs in line with demand.”

Selected Reading

Marketplace

New Corvus Insurance Data Reveals Ransomware and Fraudulent Funds Transfer Represent More Than Half of All Claims (Business Wire) Corvus Insurance, the leading provider of Smart Cyber Insurance® products powered by AI-driven risk data, today released findings from its third Corvu

Cyber will be the biggest risk code for Lloyd’s in 2023 (Strategic Risk Europe) CFC's chief underwriting officer says cyber insurance has 'had to grow up', but balancing regulation and value propositions is tricky

What to Know About Getting a Job in Cybersecurity (Wall Street Journal) There are lots of openings. But what kinds of applicants are they looking for?

SecureAuth Wins 2022 Top 50 Best Workplaces of Year (SecureAuth) SecureAuth, a leader in access management and authentication, today announced it has been awarded the Top 50 Best Workplaces of Year by The Silicon Review. “We are honored to receive this recognition alongside some of the best organizations in the world. With a remote-first culture and global workforce, […]

Aryaka Certified as an "Attractive Employer" by Great Place to Work® in the United States, India, and Germany (PR Newswire) Aryaka®, the leader in Unified SASE solutions, announced today that it has been certified as an "Attractive Employer" by Great Place to Work®...

The new reality: Cybersecurity firms revert to the mean (SiliconANGLE) The new reality: Cybersecurity firms revert to the mean - SiliconANGLE

Mozilla, Microsoft drop root Certificate Authority (Register) 'There is no evidence to suggest that TrustCor violated conduct, policy, or procedure' says biz

GV Leads $26 Million Series B Round in Pangea Cyber (Silicon Valley Daily) Pangea Cyber has announced a $26 million Series B funding round to accelerate the delivery of its API-based security services. The round was led by GV, with participation from Decibel and Okta Ventures. They join existing investors Ballistic Ventures and SYN Ventures. This brings total funding raised for the one year old […]

Sophos CEO: Broadcom Is Repeating Same Mistakes With VMware That It Made With Symantec (CRN) Sophos chief executive Kris Hagerman says his British security company is picking up new business from VMware customers nervous about Broadcom’s proposed $61 billion takeover of VMware.

The cull of puffed-up tech unicorns has only just begun (The Telegraph) Much of the tech sector now faces an acid test of their true prospects

QuSecure’s Rebecca Krauthamer Named One of Industry’s Most Innovative Women of the Year in Technology (Business Wire) QuSecure™, Inc., a leader in post-quantum cybersecurity (PQC), today announced that Co-Founder and Chief Product Officer (CPO) Rebecca Krauthamer has

Crypto Lenders’ Woes Worsen as Bitcoin Miners Struggle to Repay Debt (Bloomberg) Mining companies are defaulting on machine-backed loans. Some loans’ collateral is worth less than remaining payments.

8 things to consider amid cybersecurity vendor layoffs (CSO Online) Cybersecurity vendor layoffs raise several issues for CISOs and customers, not the least of which are security and risk-related factors. Here are 8 things to consider if your security vendor has announced significant staff cuts.

Products, Services, and Solutions

DTEX Systems Launches Enhanced Global Partner Program to Meet Increasing Worldwide Demand for Human-Centric Insider Threat Intelligence and Security Solutions (Business Wire) DTEX Systems launches Global Partner Program to empower and support partners with human-centric insider threat intelligence & security solutions.

Raytheon Intelligence & Space to provide managed security services to Georgia Technology Authority (Raytheon Intelligence & Space) Raytheon Intelligence & Space, a Raytheon Technologies business, has been selected by the Georgia Technology Authority, or GTA, to provide managed cybersecurity services to GTA and its constituent agencies.

Beyond Identity Launches Joint Integration With Zscaler to Accelerate Enterprise Zero Trust Security Strategies (Business Wire) Beyond Identity, the leading provider of phishing-resistant multi-factor authentication (MFA), has expanded its integration offerings to include cloud

Kintent® Launches World's First Free, Self-Service SOC 2 and NIST-CSF Readiness for Startups (PR Newswire) Kintent®, the only unified compliance, risk, and security questionnaire automation solution to accelerate sales, today announced the launch of...

Piiano Equips Developers to Stop Sensitive Data Breaches (GlobeNewswire News Room) Data protection company Piiano officially launches a vault for sensitive customer data, the first among a suite of privacy tools for developers...

Ontop to Deploy ThetaRay AI-Powered AML Tech to Enable the Future of Work (Business Wire) Ontop to Deploy ThetaRay AI-Powered AML Tech to Enable the Future of Work

Thales Collaborates With AWS To Support Digital Sovereignty For Cloud Customers Via CipherTrust Cloud Key Manager Integration (Security Informed) Thales announced the launch of its CipherTrust Cloud Key Manager integration with the AWS External Key Store, a feature of the AWS Key Management Service announced at AWS re: Invent 2022.

Tufin Release R22-2 Accelerates Digital Transformation with Enhanced Multi-Cloud Connectivity Management and More Flexible Access Change Automation (Business Wire) Tufin R-22-2 delivers industry-first Fortinet SD-WAN support and expands automation and compliance monitoring across major cloud platforms.

Midco launches rock-solid in-home wireless powered by Plume HomePass and OpenSync (PR Newswire) Midco® is enhancing the home internet experience by introducing Midco Wi-Fi powered by Plume HomePass®. This next-gen Wi-Fi service is fueled...

Clear Skye: A Platform-First Approach is the Key to Modern Identity Management, According to a New Enterprise Strategy Group White Paper (Business Wire) Deploying identity natively on a business platform empowers enterprises to simplify operations, increase efficiency, and improve user experience.

Secret Double Octopus Enables Phishing-Resistant Passwordless MFA for Password-Centric Environments (Business Wire) Secret Double Octopus (SDO) today announced the release of new phishing-resistant passwordless MFA capabilities for customers with password-centric di

ConductorOne Releases Baton, First and Only Open Source Toolkit for Auditing Infrastructure Access (PR Newswire) ConductorOne, Inc. announced the open sourcing of their identity connectors under the Apache 2.0 license in a project called Baton. Each...

Cradlepoint Announces Availability of Zero Trust Network Access Solution for 5G and Hybrid Networks (GlobeNewswire News Room) Providing organizations with an easier way to identify, assign and manage user-to-application access using a fully integrated ZTNA solution...

OpenText Adds Allstate Identity Protection to Webroot® Helps Protect People's Digital Lives (PR Newswire) OpenText™ (NASDAQ: OTEX), (TSX: OTEX), has partnered with Allstate Identity Protection (AIP) to offer identity protection services to Webroot...

CRITICALSTART® Recognized with Microsoft Verified Managed XDR Solution Status (PR Newswire) Critical Start, a leading provider of Managed Detection and Response (MDR) cybersecurity solutions today announced it has achieved Microsoft...

ThreatHunter.ai Announces New Core Threat Hunting Services, TH-Core (Newswire Today) ThreatHunter.ai, the global leader of Dynamic Threat Hunting combining high throughput from their ARGOS ML and AI systems with Elite Human Threat Hunters, announced today the new TH-Core service package

AppOmni Announces Partnership With Veeva to Provide Enhanced Data Protection for Life Sciences (Business Wire) AppOmni, the leading provider of SaaS security, today announced a partnership with Veeva Systems to expand SaaS coverage and provide enhanced security

Palo Alto Networks looks to shore up healthcare IoT security (CSO Online) Machine-learning based visibility and monitoring are at the heart of the cybersecurity company’s new healthcare-focused, add-on application to its core firewall products.

Cyera is the first Data Security Posture Management (DSPM) platform to secure cloud data across SaaS, PaaS, and IaaS (Cyera) Cyera provides businesses with consistent visibility and a unified data security control plane.

Copper River Cyber Solutions Wins DCSA Contract to Provide Background Investigation Support Services (ClearanceJobs) Copper River Cyber Solutions LLC, Anchorage, Alaska, wins a $10.3 million contract to provide Defense Counterintelligence and Security Agency with background investigation support services.

Torq Users Hit 1,000,000+ Daily Security Automations (Torq) Torq users hit 1,000,000+ daily security automations in 2022. Torq Insights Dashboard is a comprehensive reporting and analytics tool.

New infosec products of the week: December 2, 2022 (Help Net Security) The featured infosec products this week are from: Adaptive Shield, Datadog, Delinea, Fortinet, LogicGate, Shoreline, and Trend Micro.

Fail-safe Ransomware Protection: Xcitium Adds Warranty Program to Ensure Customers Protection Against Rising Attacks (GlobeNewswire News Room) Xcitium, formerly known as Comodo Security Solutions, today announced a new money-back warranty to...

Zscaler Achieves FedRAMP Authorization for Entire Zero Trust Exchange Platform Portfolio of Solutions (GlobeNewswire News Room) Zscaler Private Access Awarded FedRAMP Moderate Authorization to Protect Government Agencies’ Most Sensitive Data Against Cyber Threats...

Varonis and HackerOne launch vulnerability disclosure program (Help Net Security) Varonis has launched its public vulnerability disclosure program via HackerOne to enhance product security.

Peel Police, the Third Largest Police Force in Canada, Discusses Solving their Authentication Challenges with Axiad Cloud in December 8 Webinar (Business Wire) Join Peel Police, the third largest police force in Canada, for a frank discussion of how they solved their PKI authentication challenge with Axiad

Tigera Enhances Calico's Cluster Mesh Capabilities to Simplify Management and Security of Multi-Cluster Deployments Across Hybrid and Multi-Cloud Environments (PR Newswire) Tigera, provider of the industry's only active Cloud-Native Application Protection Platform (CNAPP) with full-stack observability for...

KnowBe4 and Netskope Collaborate for New SecurityCoach Integration (KnowBe4) Netskope collaborates with KnowBe4 to help reduce risky behavior with integration to support real-time security coaching

New Report: Identity fraud doubled in crypto and banking in 2022 (Business Wire) Sumsub, a global verification platform providing customizable KYC, KYB, transaction monitoring, and AML solutions for the whole customer journey, toda

1Password Streamlines Login Experience with 'Sign in With' Feature (PR Newswire) 1Password, the leader in human-centric security and privacy, today announced a new 'sign in with' browser extension feature to help users get...

Versa Networks Security Achieves Highest Rating by CyberRatings.org in Industry’s First-of-its-Kind Cloud Network Firewall Comparative Test (Business Wire) Versa Networks, the recognized leader of single-vendor Secure Access Service Edge (SASE), today announced it has achieved the highest possible rating

SentinelOne Announces Support for Amazon Security Lake to Power Cloud Investigations (Business Wire) Today, at AWS re:Invent 2022, SentinelOne (NYSE: S), an autonomous cybersecurity platform company, announced SentinelOne Singularity Cloud works with

ImmuniWeb Launches Phishing Websites Takedown Service (ImmuniWeb) The new service allows ImmuniWeb customers to take down malicious and phishing websites in just one click to reduce the risks of surging phishing campaigns that aptly exploit human error.

GitLab Dedicated Launches to Meet Organizations’ Complex Compliance Requirements (GlobeNewswire News Room) Provides the benefits of an enterprise DevSecOps platform - operational efficiency, reduced risk, and enhanced speed and agility - in a single-tenant SaaS...

QuintessenceLabs to Showcase Quantum Key Distribution Solution at Quantum World Congress (PR Newswire) QuintessenceLabs, a leader in the quantum cybersecurity industry, announced today at Quantum World Congress that its qOptica™ Quantum Key...

JupiterOne Announces Key Initiatives with AWS to Help Customers Strengthen Security Posture (PR Newswire) AWS re:Invent 2022 - JupiterOne, the industry's leading provider of cyber asset attack surface management (CAASM) technology, entered Amazon...

Infosec products of the month: November 2022 (Help Net Security) The featured infosec products this month are from: Abnormal Security, Acronis, Bearer, Bitdefender, Clumio, Cohesity, Flashpoint, and more.

People

Cequence Security Strengthens Executive Team with the Appointment of New Chief Financial Officer to Drive Business Growth and Expansion (Cequence Security) Cequence Security announces growth results, 113% YTD growth in new and expanded ARR amid heightened demand for Unified API Protection

Michael Brown Joins Strider Technologies' Board of Directors - Strider | Prevent intellectual property theft and supply chain vulnerabilities (Strider) Brown brings decades of experience as Director of DoD’s Defense Innovation Unit and CEO of Symantec to fast-growing strategic intelligence firm Salt Lake City, December 7, 2022 — Strider Technologies, Inc. (“Strider”), the leading provider of Strategic Intelligence, today announced that former Department of Defense (DoD) official and corporate chief executive Michael Brown is joining […]

Admiral Mike Rogers Joins Quantum Xchange’s Board of Directors (Business Wire) Admiral Mike Rogers joins Quantum Xchange's Board of Directors to advise the company's go-to-market strategy and continued innovations.

Sophos appoints new SVP of sales for EMEA (IT PRO) Gerard Allison joins from Exclusive Networks and will look to accelerate growth in the region

ThreatConnect CEO Balaji Yelamanchili Joins TrueFort Board of Directors (Business Wire) Balaji brings decades of experience to TrueFort as an operating executive and investor for high growth companies including Symantec and Oracle.

Crypto and AI-Focused Sequoia Partner Is Leaving the Firm (The Information) Sequoia Capital partner Divya Gupta is leaving the firm just weeks after the storied venture capital firm apologized to limited partners about its $214 million investment in the now-bankrupt crypto exchange FTX. Gupta worked on seed- and early-stage investments in cryptocurrency and artificial ...

Sentra Appoints Ambassador Dan Gillerman to Advisory Board (PR Newswire) Sentra, a data security company, today announced that Dan Gillerman, Israel's former ambassador to the United Nations, has joined its advisory...

Securonix Appoints Nayaki Nayyar to Chief Executive Officer (Business Wire) Securonix, Inc. today announced the appointment of Nayaki Nayyar to CEO and member of its Board of Directors, effective immediately.

Lookout Appoints Dan Donovan as Chief Revenue Officer (PR Newswire) Lookout, Inc., the endpoint to cloud security company, today announced the appointment of sales veteran Dan Donovan as its chief revenue...