At a glance.
- odix merges with AKITA.
- Blackpoint Cyber raises $190 million in growth funding.
- Executive moves.
- Study finds lack of trust a major security concern.
- Labor markets.
Mergers and acquisitions.
Malware prevention provider odix has merged with fellow Israeli Zero Trust technology firm, AKITA. The merger will allow for the combination of both companies’ cybersecurity offerings into one that provides comprehensive Zero Trust solutions. odix will be integrating the AKITA team into their existing workforce.
Gorilla Technology Group, an AI-based video analytics, IoT tech, and cybersecurity provider, has agreed to acquire Thailand’s Bacom Internetwork, an infrastructure distributor and systems integrator. The acquisition is expected to close by September.
Investments and exits.
Cybersecurity firm Blackpoint Cyber has raised $190 million in growth funding in a round led by Bain Capital Tech Opportunities. The Maryland company provides advanced security through managed service providers, or MSPs. The funding is planned for use in development of its security solutions.
Operational technology (OT) cybersecurity defense provider Shift5 has amassed $83 million in a Series B funding round, led by Moore Strategic Ventures. Booz Allen Hamilton’s Teamworthy Ventures firm, as well as JetBlue Ventures, also participated. The Virginia-based company, created by former US Army Cyber Command officers, intends to use the funding to “fuel the infrastructure supporting Shift5’s growing commercial and federal businesses as it expands to tackle the challenge of onboard observability,” MSSPAlert reports.
Israeli startup Kodem, which focuses on app security by analyzing runtime intelligence, has emerged from stealth, raising $25 million in funding, TechCrunch reports. Greylock led an $18 million Series A, atop a $7 million co-led seed round funded by TPY Capital and Greylock. The funds are allowing for the company to build and launch their platform worldwide.
SureCloud has named Tom Obermaier as the company’s new chief executive.
Cloudera CEO Rob Bearden is stepping down from his position, the Information reports.
Cyolo has welcomed Jason Schaaf to the leadership team as chief revenue officer.
Andres Botero has been named the new chief of marketing at Rubrik.
Veeam has named Kacy Hassack as the new chief people and culture officer.
Next has welcomed John Stringer as the company’s head of product, as well as Chris Denbigh-White, who’s joining the team as chief security officer.
Marc Boriditsky has been appointed to Trustle’s Board of Directors.
Nozomi Networks has named Marene Allison to the company’s board of advisors.
Flashpoint has named a new public sector advisory board, comprised of Lt Gen. Scott Howell, Andrew Makridis, Matthew Swenson, and Tim Newberry.
Pedro Fortuna, CTO of Jscrambler, has been named to the board of advisors of the PCI Security Standards Council.
Josh Lemos has been appointed as the chief information security officer at GitLab.
RiskOptics has welcomed Lisa Mogensen as the chief of finance for the company.
Stuart Itkin has been appointed as senior vice president and chief marketing officer at NeoSystems.
The Forum of Incident Response and Security Team (FIRST) has named Tracy Bills to the company’s board of directors.
Study finds lack of trust a major security concern.
A newly released study from Kroll discusses the connection between cyber defense, cyber maturity, and trust. The report, “2023 State of Cyber Defense: The False-Positive of Trust,” surveyed a thousand cybersecurity decision makers across the Americas, Europe, and Asia-Pacific. The report says that 37% of these leaders have complete trust that their organization is safe and defended from cyber threats. However, organizations have seen, on average, five major security incidents within the last year. The data also show that, statistically, a higher number of deployed cybersecurity platforms seems to correlate with increasing numbers of cybersecurity incidents. Researchers also report that 24% of those surveyed don’t have a managed detection and response (MDR) or managed security service provider solution (MSSP), which can leave organizations more vulnerable to cyber threats.
Companies continue to see layoffs this week in big tech and cybersecurity. The Information reports that Sumo Logic, a data analytics software provider, has made “widespread layoffs” this week following the purchase of the company from private equity firm Francisco Partners. Computing also writes that HashiCorp, an infrastructure automation software development company, is laying off eight percent of its employees, which comes despite a 37% increase year-on-year in revenue.
Cybersecurity firm Dragos also reported cuts to nine percent of its workforce last week, which amounts to about 50 of their employees, IT Wire reports. One can argue that compared to recent layoff disclosures, Dragos can be credited, as their severance offerings are better than some others. They’re offering those leaving 2 months of severance, and additional two months of healthcare atop their existing coverage, and a waiver for those interested in vesting equity, if they were with the company for under a year.