At a glance.
- Osano acquires WireWheel.
- ArmorCode and Second Front Systems both secure $40 million in Series B rounds.
- Cybersecurity futures: a study of the sector's shifting landscape.
Mergers and acquisition.
Austin, Texas-based data privacy management company Osano has completed its acquisition of Arlington, Virginia-headquartered data privacy solution provider WireWheel. Osano stated, "The acquisition of WireWheel enhances Osano’s platform with enterprise-grade assessment solutions that automate the process of auditing data, identifying privacy risks, prioritizing actions, creating required regulatory documentation, and conducting actionable reporting. WireWheel’s assessment solutions address critical needs such as privacy impact assessments (PIA) and record of processing activity (RoPA) assessments and were recently recognized by IDC as a leader in that category. These are vitally important capabilities in a rapidly changing regulatory environment characterized by a patchwork of laws that vary greatly from country to country and state to state."
Investments and exits.
Palo Alto, California-based application security and vulnerability management firm ArmorCode has raised $40 million in a Series B round led by HighlandX, with participation from NGP Capital and existing investors Ballistic Ventures, Sierra Ventures, and Cervin Ventures. The company says it "will use the new funding to supercharge its growth by investing in go-to-market, product, and engineering teams to grow the team by more than 20%, and to expand its revenues with new partnerships and growth in Europe and new product areas."
Delaware-headquartered public-benefit software company Second Front Systems has secured $40 million in a Series B round led by NEA, with participation from existing investors Moore Strategic Ventures and AE Industrial Partners HorizonX. The company says the funding "allows the acceleration of expanded capabilities across classified networks and additional security regimes."
Boston-based data privacy firm Mine has raised $30 million in a Series B round led by Battery Ventures and PayPal Ventures, with participation from Nationwide Ventures and existing investors Saban Ventures, Gradient Ventures (Google's AI), MassMutual Ventures, and Headline Ventures. The company says it will use the funding "to scale its B2B enterprise-grade product, MineOS."
Irish cyber risk management startup Cytidel has raised €1.35 million (US$1.45 million) in a seed funding round led by Elkstone Ventures, with participation from Enterprise Ireland, the Irish Times reports. The company said in a press release, "This financial backing will enable Cytidel to expand beyond its first suite of products, as they aim to further increase the efficiency and effectiveness of cyber security tools that can combat rising security threats. Cytidel plans to use the funding to grow the engineering function, with the aim of up to 10 new hires in the next year."
Supply Wisdom has appointed Tom Thimot as CEO. The company's founder and former CEO Atul Vashistha will remain Chairperson of the Board. Supply Wisdom has also promoted Jenna Wells to Chief Customer & Product Officer and Sowmya Krishnaswamy to Chief Technology Officer.
SightGain has named Jerry Hoff as CEO. SightGain's founder and former CEO Christian Sorensen will serve as the company's Chief Risk Officer.
DTEX Systems has appointed Marshall Heilman as CEO.
Optiv + ClearShark has named Daniel Wilbricht as President.
The Military Cyber Professionals Association (MCPA) has appointed Chris Cleary as its inaugural national president, the Record reports.
Traceable AI has named Brian McDonough as Chief Revenue Officer.
Menlo Security has appointed Pejman Roshan as Chief Marketing Officer and Naresh Bansal as Chief Financial Officer.
The Infinigate Group has appointed Caroline Hutchins as Chief People Officer.
Tanium has hired Nick Lim as Vice President for the APAC region, SecurityBrief reports.
Flare has added Andrew McCabe and Michael Morell to its advisory board.
Qrypt has added Roger Biscay, SVP, Corporate Treasurer, and Head of Global Corporate Security at Cisco, to its board of advisors.
Paladin Capital Group has retained Duke University Professor David A. Hoffman as a strategic advisor.
Cybersecurity futures: a study of the sector's shifting landscape.
The UC Berkeley Center for Long-Term Cybersecurity (CLTC), the World Economic Forum Centre for Cybersecurity, and CNA’s Institute for Public Research have published a report looking at “how digital security could evolve over the next five to seven years.” The report states, “Stable governments that follow through on long-term technology and cybersecurity strategies can become trusted ‘brands,’ gaining advantages in attracting talent, seizing leadership opportunities in multilateral standards-setting processes and countering disinformation campaigns.”
Additionally, the researchers note, “There is a window of opportunity for emerging and developing countries to implement ‘secure by design’ principles that the first waves of digitalization have largely failed to embed. Decision-makers should monitor the pace of digitalization and the ability of populations to integrate new technologies safely and securely.
The report adds, "Acceleration in technology and business model innovation (both licit and criminal) will underpin the new digital security landscape for 2030. The workshops uncovered a universal sense that this acceleration is not likely to be incremental. The new landscape will require societies to fundamentally reorient their responses to perennial digital security challenges, three of which are changing in particularly important ways: data privacy, talent development, and sustainability."