At a glance.
- Cisco announces plans to acquire Lightspin.
- Quantexa raises $129 million in Series E funding.
- Executive moves.
- Company news.
- Labor markets.
Mergers and acquisitions.
Networking giant Cisco has announced plans to acquire Israeli cloud security company Lightspin, CRN reports. "Cisco and Lightspin together will be able to meet their shared goal of helping customers modernize their cloud environments with end-to-end security and observability, from build to runtime," said senior vice president of engineering for emerging technologies and incubation at Cisco, Vijoy Pandey. The financial details were not disclosed, and this acquisition follows Cisco's earlier acquisition of another cloud security startup, Valtix.
Cradlepoint, part of Ericsson, has announced its acquisition of cloud security platform provider Ericom Software. The company said that the acquisition of Ericom's technologies will enable Cradlepoint to launch their "Cradlepoint NetCloud Threat Defense cloud service, expanding the company’s mobile-capable and router-integrated SASE and zero trust portfolio of solutions for fixed-site, remote worker, in-vehicle and IoT use cases."
Investments and exits.
Decision and intelligence solutions company Quantexa has raised $129 million in Series E funding, the company reports. The funding round was led by GIC, with investments from prior investors Warburg Pincus, Dawn Capital, British Patient Capital, Evolution Equity Partners, HSBC, BNY Mellon, ABN AMRO Ventures, and AlbionVC. This investment for the London-based company, now valued at $1.8 billion (which puts them at unicorn status), comes on the heels of their acquisition of Dublin-based natural language processing (NLP) and AI provider Aylien. “After closing our Series D investment round, Quantexa has been on a transformational journey, accelerating the growth of our global software business and firmly establishing our leadership position in the emerging Decision Intelligence category. In a challenging market we have doubled our ARR, our user base, and continue to penetrate new markets and industries. This infusion of capital will fuel further innovation, diversification, and expansion, and opens exciting options for our future," said Vishal Marria, chief executive of Quantexa.
Cybereason, an advanced detection and response provider for enterprises, has raised $100 million in funding from SoftBank Corp, Security Week reports. The funding, the company says, will be used for worldwide growth, as well as further development on their XDR, EDR, and EPP solutions.
DataDome, a company specializing in AI-backed bot and fraud management, has raised $42 million in Series C funding, the company shares. The funding round was led by InfraVia Growth, with participation from existing investors Elephant, ISAI, among others. "This cash infusion will fund global commercial rollout and R&D efforts to ensure that our offering continues to raise the bar, and stays well ahead of bot developers and fraudsters," said Benjamin Fabre, CEO and co-founder of DataDome. "In InfraVia, we have an investor who trusts in and shares our vision, and brings years of valuable experience helping companies scale globally. Threat actors don't stand a chance."
Strivacity, a startup focused on the simplification and security of logins, has raised $20 million in Series A2 funding, led by SignalFire, Ten Eleven Ventures, and angel investors Kevin Mandia and Jack Huffard. Security Week writes that the "technology promises capabilities to stop account takeover attacks, give businesses control over branding and customer experience and the removal of software engineering burdens."
Israeli IoT and OT cybersecurity provider SCADAfence has raised $16 million in funding. This funding round was powered by Fujitsu, Mitsubishi Electric, and Prosegur corporations, CTech reports, with participation from existing investors, Jerusalem Venture Partners (JVP), Global Brain, HCS Capital, and Rapid7. "SCADAfence has experienced unprecedented growth by making the forging of key strategic partnerships that capitalize on the synergies between our solutions and those of our partners a key strategy,” said SCADAfence chief executive, Elad Ben-Meir.
SaaS security platform Push Security has raised $15 million in Series A funding, Help Net Security reports. The UK startup's funding round was led by Google Ventures (GV), with participation from Decibel and angel investors, including Dug Song and Rich Waldron. “The global workforce is moving toward greater freedom and flexibility with SaaS applications, which introduces new security complexities and challenges,” says Karim Faris, General Partner, GV. “That trend presents a critical need for better, simpler tools that engage employees and take the burden off centralized IT to manage SaaS sprawl. GV is excited to partner with the Push team as they help modern security teams navigate the evolving cybersecurity threat landscape."
Austin, Texas based threat prevention company Votiro has raised $11.5 million in Series A funding, led by Harvest Lane Asset Management, Security Week reports. The company intends to use the funding for sales and marketing within North America, and grow its platform's prevention, detection, and analytics capabilities.
Identity security posture management company Spera, based in Palo Alto, California, has raised $10 million in seed funding, led by YL Ventures, reports TechCrunch. “Spera clearly zeroed in on one of today’s main CISO priorities and pain points, given the remarkable number of customers they’ve closed while still in stealth,” said senior partner at YL Ventures, John Brennan. “We’ve been bullish on the identity space for a while now, in light of the consistent feedback from our network that despite a massive allocation of budget to IAM solutions, existing IAM tools failed to deliver on their promise. Spera is changing the industry’s entire approach to identity, delivering a platform that is a single source of contextualized identity-related risk.”
California-based cloud access management startup Trustle has raised $6 million in seed funding, led by Glasswing Ventures, with participation from FUSE, Correlation Ventures, and Capital Technology Ventures, Security Week reports. The company says that the investments will allow for a more comprehensive integration of the company's cloud resources, and creates an ease for automation of secure access control and compliance reviews. Trustle plans to use the funding for expanding product development, marketing research, and sales.
Sophos has promoted Joe Levy to President of the Sophos Technology Group.
Socure has appointed Jennifer Kerber has joined as the senior director of government affairs.
SPHERE has appointed Scott Gibson as Chief Operating Officer.
Cowbell has named Simon Hughes as the General Manager for Cowbell UK.
JFrog has appointed Aran Azarzar as the company’s global Chief Information Officer.
Traceable AI has added Chase Cunningham to the company as an advisor.
Dig Security has named Nadav Zafrir as Chairman of the Board.
Viakoo has welcomed Joe Lea as a new Board Member.
Caveonix has welcomed three new company leaders: Carey Scott as Vice President of Enterprise Sales, Kevin Lang as Vice President of Federal Sales, and Lior Haim-Murray as Vice President of Marketing.
Rubrik has named new members of its Chris Krebs-led CISO Advisory Board: Aaron Hughes, Marnie Wilking, Marene Allison, Amit Aggarwal, and Christophe Blassiau.
KPMG has created a spin-out company specializing in AI security that they're calling Cranium, the company reports. KPMG's startup incubator reportedly fostered the creation of the company, and worked in conjunction with the firm's AI security experts.
In labor market news, previously untouched technology giant Apple has decided to make staff cuts, saying that a small number of companies in the corporate retail team would be let go, but allowed to apply to other roles within the company, Computing reports. IBM is also letting go of about 100 people on their IT team in North America, as well as slashes to some positions in finance, development, and operations roles. The Information also reports that the recently-announced Meta layoffs have created what the affected employees call "paralysis" within the company, as those destined to be laid off may not be notified until later this month, or even in May.