At a glance.
- Vista Equity Partners acquires KnowBe4.
- Saviynt raises $205 million in growth funding.
- The cyber labor market continues to see dark days.
Mergers and acquisitions.
Texas-based investment firm Vista Equity Partners has completed its acquisition of KnowBe4, a California-based provider of security awareness training. "Today’s acquisition is a significant milestone for the entire KnowBe4 team. It’s representative of our achievements to date, as well as our potential for continued long-term growth,” said founder, Chairman and Chief Executive of KnowBe4, Stu Sjouwerman. “Vista provides the resources and operational expertise to enhance customer value. We’re thrilled to embark on this next chapter and realize our goals for addressing cybersecurity’s weakest link.”
Radiant Logic, a company specializing in identity data unification headquartered in California, has entered into an agreement to acquire French Identity Governance and Analytics organization Brainwave GRC. “By joining forces with Brainwave we will be able to unlock tremendous value for current and future customers by unleashing the power of identity data to help truly transform an organization’s IT landscape. Our combined platform will allow organizations to add unprecedented agility and flexibility in their infrastructure and business processes, while improving business continuity and security posture and reducing the total cost of ongoing regulatory compliance and IAM or IGA programs," said Radiant Logic's CEO, Joe Sander.
US defense and intelligence technology provider LinQuest Corporation has announced their acquisition of Ohio-based software engineering company Hellebore Consulting Group. “Hellebore’s experience with agile software development and its track record supporting the Air Force Life Cycle Management Center will catalyze LinQuest’s leading role in moving AFLCMC to a digital future. This partnership with the Hellebore team will help enable our customers to advance the state-of-the-art in autonomous technologies," said Greg Young, LinQuest's President and CEO.
Australian security vendor Tesserent has bought Brisbane-headquartered infosecurity training group ALC Group in a deal valued at $5.8 million. CRN reports that Tesserent's goal behind the acquisition is to "build a profitable business in the cyber security training space in the Australasian market, and to deliver a pipeline of high quality talent for Tesserent itself."
OneSpan, a digital agreement security company based in Chicago, has announced their agreement to acquire Australian secure storage startup ProvenDB. The acquisition will allow for OneSpan to expand its Transaction Cloud Platform to the blockchain, among other developments. “OneSpan’s expertise in digital identity and agreements married with ProvenDB’s blockchain-backed storage solutions will enable a paradigm shift in trust and integrity for digital agreements,” said Guy Harrison, CTO at ProvenDB. “We are excited to join OneSpan to bring our technology to the digital agreement market.”
Investments and exits.
Los Angeles-based identity management company Saviynt has raised $205 million in growth funding from AllianceBernstein affiliate, AB Private Credit Investors’ Tech Capital Solutions group. The company says that the funding is planned to be put toward increased demand, as well as a propellant to innovation.
Cloud data security company Sentra has raised $30 million in Series A funding, led by Standard Investments, with participation from Munich Re Ventures (MRV), Moore Strategic Ventures, Xerox Ventures, INT3, Bessemer Venture Partners, and Zeev Ventures. This round brings the company's total accrued investments above $53 million. "With the growing complexity of securing information in today's data-driven economy, Sentra's experienced leadership team and impressive product innovation engine make them extremely well-positioned to address this urgent need at scale," said Yaron Ben David, chief digital officer, Standard Industries. "We look forward to working with the Sentra team as they execute on the company's mission to enhance data security for cloud-driven organizations around the world."
Maryland-headquartered vulnerability management software firm Tenable has launched a $25 million venture fund intended to be used to drive businesses focused on discovery, assessment and management of cybersecurity risk. The new Tenable Ventures will concentrate its focus on seed and early-stage investments.
AppOmni has named Tina Hawk as the company's Chief People Officer.
ShiftLeft has seen many appointments; Ellen McDonald as General Counsel, Mitchell Plonski as Chief Revenue Officer, Amanda Lampert as Chief People Officer, Colby Proffitt as Vice President of Marketing, and Andy Oare as the company's Head of Federal Marketing.
Veriff has named Javier Ortega as the company's new Chief Revenue Officer.
Jumio has made two new appointments: Jon Jones, as Senior Vice President, Worldwide Sales, and Simon Winchester as Vice President, Global Account Management.
RMC has appointed US Navy veteran Admiral James Foggo III as chairperson of its Board of Directors.
Trinity Cyber has named Frank Koehl as the company's Vice President of Product Development.
Prove Identity has appointed Amanda Fennell as the company’s Chief Information Security Officer and Chief Information Officer.
Dig Security has named Yotam Ben Ezra as the company's Chief Product Officer.
Zimperium has welcomed Sammie Walker to the company in her new role as Chief Marketing Officer.
The Cyber AB has appointed four new Directors to the company's Board: Debbie Taylor Moore, Anthony Johnson, Gene Chao, and Katherine Gronberg.
Lantronix has named Eric Bass as the company's Vice President of Engineering.
In updates on cyber and tech labor news in the past week, major companies continue to make cuts. Software company SAP has announced intentions to cut up to 3,000 members of its workforce, citing significant profit decreases at the end of 2022, according to the Wall Street Journal. Amidst what Bloomberg described as an "upbeat" yearly sales projection from the company, IBM announced plans to cut a "ballpark" figure of approximately 3,900 staff, CFO James Kavanaugh said last Wednesday. CTech noted the interesting decision made by Israeli cybersecurity company Checkmarx to hold an elaborate kickoff in Cancun, Mexico for 250 employees after laying off around 100 employees to "refocus resources" only months earlier.