At a glance.
- Okta acquires Uno.
- Workers face a tough IT job market.
- CISO compensation.
Mergers and acquisitions.
Identity and access management company Okta has acquired password manager Uno. Okta stated, "The Uno team has deep experience building consumer-first, design-focused, and easy-to-use password management and personal identity technologies. The addition of Uno’s talent and expertise in security, identity, and AI allows us to accelerate the rollout of Okta Personal."
Minnesota-based security operations firm Arctic Wolf intends to acquire security orchestration, automation and response (SOAR) platform Revelstoke. The company stated, "By incorporating Revelstoke’s SOAR platform into the Arctic Wolf Security Operations Cloud and Concierge Delivery Model, we believe that Arctic Wolf will be able to provide the security operations outcomes that most SOAR platforms have failed to deliver upon."
Investments and exits.
Santa Cruz, California-based minds.ai, a company that uses AI to optimize semiconductor operations and planning, has raised $5.3 million in a seed funding round led by Monta Vista Capital, with participation from Momenta and other investors.
Orca Security has hired Oded Edri as Chief Financial Officer. Edri previously served as Chief Accounting Officer at Payoneer.
Lacework has appointed Kevin Kiley as Chief Revenue Officer.
Secure Yeti has appointed Jayson E. Street as Chief Adversarial Officer.
Quorum Cyber has named Steven Marandola as Vice President of Innovation and Rebecca Court as Marketing Director.
ReliaQuest has added Paul Shoukry, Chief Financial Officer of Raymond James Financial, to its board of directors.
Huntress has appointed Myrna Soto to its board of directors.
Fortunes of commerce.
Reuters reports that BlackBerry plans to separate its IoT and cybersecurity business units as it targets an IPO for the IoT unit next year. BlackBerry CEO John Chen stated, "Both the IoT and Cyber businesses...address large and growing market opportunities. This new proposed structure will further increase both their operational agility and ability to focus on delivering exceptional solutions."
Workers face a tough IT job market.
The Wall Street Journal reports that the unemployment rate in the IT industry rose to 4.3% last month, higher than the overall unemployment rate of 3.8%. The Journal sees this as "an indication that growth in traditional IT careers and entry-level roles could be slowing amid an artificial-intelligence boom." The Journal notes, however, that demand for employees still outpaces supply, particularly in the cybersecurity sector.
IANS Research has published its 2023 CISO Compensation Benchmark Report, finding that "[t]he average total compensation increase among CISOs was 11%, down from 14% in 2021-2022." The report notes that "6% of respondents earn between $500,000-$600,000, with 8% between $600,000-$700,000, while 52% earn below $400,000 and 20% earn over $700,000." Additionally, "CISOs with a tech-leaning background earn about 15% higher total compensation than those with a more GRC-leaning background."