At a glance.
- MariaDB completes business combination with Angel Pond Holdings Corporation.
- CyberCube raises $50 million in additional funding.
- Labor markets.
Mergers and acquisitions.
New generation cloud database company MariaDB has announced the completion of its business combination with previously publicly traded special purpose acquisition company Angel Pond Holdings Corporation, resulting in a combined Irish public limited company named MariaDB plc. “Today is an exciting day that marks a new chapter for MariaDB and an important milestone in the cloud industry,” said Michael Howard, CEO of MariaDB. “Our customers increasingly come to us because they are struggling with the scalability and availability offered by the hyperscalers. With MariaDB SkySQL, we deliver better price and performance while freeing businesses from vendor lock-in with a multicloud offering. I am incredibly proud to work with our talented team and our investors as we continue to build success in the cloud for companies around the world.”
Investments and exits.
CyberCube, a California-based cyber risk analytics company, has raised $50 million in additional growth capital from investment funds managed by Morgan Stanley Tactical Value, with participation from Forgepoint Capital, Hudson Structured Capital Management (Bermuda) Ltd., MTech Capital, and key investors from Stone Point Capital.
Germany-based cybersecurity startup VMRay has raised $34 million in Series B funding, led by Tikehau Capital, with participation from High-Tech Gründerfonds, eCapital, NRW.BANK and Gründerfonds Ruhr. The company plans to use the funding “to support expansion of its advanced threat detection and analysis services into new target markets.”
SaaS security company AppOmni, a California-headquartered organization, has received follow-on investments from TSG that will be used to “bolster AppOmni’s go-to-market expansion in EMEA and Asia/Pacific and the company’s product development — extending both breadth of SaaS app coverage and depth of functionality.”
CyberArk has appointed Omer Grossman as the company’s Global Chief Information Officer.
The Kudelski Group has appointed Jacques Boschung as head of Kudelski Security, the cybersecurity division of the Group.
Semperis has named Jared Vichengrad as the company’s Vice President of Public Sector.
Sectigo has appointed Kevin Weiss as the company’s Chief Executive Officer.
Leidos has welcomed Darby LaJoye as the company’s Vice President and Strategic Account Executive for the Department of Homeland Security.
Plume has appointed Hannes Ametsreiter, Cody Sanford, and Mike Doonan to the company’s Board of Advisors.
Rubrik has appointed John W. Thompson as the Lead Independent Director for the company’s Board.
Ridgeback Network Defense has added Michael Wons and John Valente to the company as special advisors.
Ballistic Ventures has named David Hahn as the company’s inaugural CISO-in-Residence.
Traceable AI has named Stephen Jahn as the company’s Chief Financial Officer and John Schwan as the company’s VP of Channel and Alliances.
Cloud security company Zscaler has announced its membership in the Cybersecurity and Infrastructure Security Agency’s (CISA) Joint Cyber Defense Collaborative (JCDC), Globe Newswire reports. The company says it’s working with the JCDC to enhance the cybersecurity posture of the United States, saying “Zscaler and the Zscaler ThreatLabz research team will analyze unique threat telemetry from 270+ billion transactions and 250,000 cloud updates per day – securing users globally. Additionally, Zscaler will participate in future cyber strategy planning with JCDC and its members.”
While layoffs and setbacks have been at the forefront of cyber-related labor news, there is some good news to be shared. Royal Hansen, VP of engineering for privacy, safety, and security at Google, says that the company has trained over 40,000 people in India through its cybersecurity roadshows and developer sessions, Business Standard reports, as part of its desire to upskill 100,000. Amidst big tech’s layoffs, the US Department of Veterans Affairs is looking to fill 1,000 tech roles, Wired reports. BizTech Magazine highlights the importance of a shift in focus to more diverse talent pools in cybersecurity, with experts noting the capability of women (who only make up 25% of cybersecurity jobs, according to a 2022 Cybersecurity Ventures study) to fill the gaps in the labor market.
Policies, procurements, and agency equities.
The US Department of Homeland Security is asking for applications from small businesses as part of the department’s 2023 Science and Technology Directorate Small Business Innovation Research (SBIR) program, seeking to address seven “technology needs,” Nextgov reports. The solicitation from the department, which came out last Thursday, seeks out proposals for analysis of “hardware generated data that would enable real-time, precise detection (>95%) and proactive protection against cyber-threats.”
National Cyber Director Chris Inglis has previewed the national cybersecurity strategy, highlighting plans to maintain government focus on software procurement, Nextgov reports. The strategy, anticipated to be released this fall, is still not finalized, but has begun the implementation of “steps to begin the process of rebuilding the country’s cybersecurity infrastructure.” Inglis also indicated plans to utilize software industry feedback from those working to streamline sector-specific regulations. (A side note: CNN reported this afternoon that Inglis intends to leave his White House post for retirement. No time is given for his departure, but it's expected to be soon.)
Expert commentary on cyber spending.
Richard Caralli, Senior Cybersecurity Advisor at Axio, discusses how organizations can best leverage existing staff and solutions to ensure that cybersecurity spending is properly allocated:
“Invest in cybersecurity training. More often than not, IT personnel who want to expand their skill sets are eager to take on cybersecurity training and knowledge. Not only is expanding the skills and performance of existing staff an investment in organizational competency, it gives a huge boost to staff morale.
“Rationalize your technology. Over time, technological solutions acquired to solve immediate problems can create technical debt that may end up in your security team’s blindspot as shelfware. Evaluate shelfware for opportunities to economize: eliminate solutions that are not providing value and repurpose technologies to address new or existing problems where possible.
“Quantify your cyber risk. All decisions, whether it be on staffing, technology acquisitions, or risk countermeasures, are often made in a vacuum without considerations for potential mitigation of risk. Quantifying cyber risk is an inexpensive and extremely effective way to understand cybersecurity exposures in terms of cost avoidance.”