At a glance.
- Cycode acquires Bearer.
- Claroty secures $100 million.
- Zama raises $73 million in Series A round.
Mergers and acquisitions.
San Francisco-based application security posture management (ASPM) company Cycode has acquired static application security testing (SAST) firm Bearer. Cycode says "[t]his strategic acquisition aims to supercharge its complete ASPM with scanning speeds 31% faster than the competition, utilizing AI for more contextual remediation, enhanced precision and offering an unparalleled developer experience for faster shipping."
IT technology solutions provider SHI International has acquired cybersecurity firm Moot. SHI stated, "This new addition fortifies Stratascale, SHI’s cybersecurity and digital solutions company, by complementing the recent acquisition of Vector0 in September 2023. While Vector0 powers Stratascale's Attack Surface Control & Vulnerability Management as a Service capabilities, Moot’s orchestration platform automates the steps required to achieve a dramatic reduction of an organization’s attack surface."
Investments and exits.
Israeli OT security company Claroty has raised $100 million in a strategic growth financing round from Delta-v Capital, AB Private Credit Investors at AllianceBernstein, Standard Investments, Toshiba Digital Solutions, SE Ventures, Rockwell Automation, and Silicon Valley Bank. The company says "[t]he funds will be used to scale Claroty's platform approach to cyber-physical systems (CPS) protection across key verticals including the public sector and heavily regulated critical infrastructure industries, expand in emerging regions across the Americas, EMEA, and Asia-Pacific, fuel research and development for core and adjacent technologies including secure remote access, and double down on new and existing strategic partnerships."
French homomorphic encryption company Zama has raised $73 million in a Series A round led by Multicoin Capital and Protocol Labs. TechCrunch says the company plans "to continue investing in R&D, as well as to hire more engineers (expanding on a current team of 75) to build around the two market opportunities that Zama sees for the early versions of its work."
Insider risk management firm DTEX Systems has secured $50 million in a Series E round led by Alphabet’s growth fund CapitalG. The company stated, "The funding will be used to expand the company’s U.S. engineering team and grow its go-to-market (GTM) operations globally, accelerating its mission to proactively protect global organizations from insider threats. These new funds will continue to fuel significant company momentum and accelerate DTEX’s application of large language models (LLMs) and behavioral science research to disrupt the insider risk management market."
The Wall Street Journal reports that Dutch cybersecurity firm Eye Security has raised $39 million in a funding round led by JPMorgan Chase’s growth investment arm.
Mumbai-headquartered identity verification startup IDfy has raised $27 million in financing from Elev8 Venture Partners, KB Investment, and Tenacity Ventures.
Ohio-based Active Directory management provider Cayosoft has secured a $22.5 million minority investment from Centana Growth Partners. The company says "[t]he funds will enable the company to bring its patent-pending, instant Active Directory (AD) forest recovery, management, and governance solutions to a wider audience, including international expansion."
Sunnyvale, California-based security operations platform provider Reach Security has raised $20 million in funding led by Ballistic Ventures, with participation from Artisanal Ventures, Webb Investment Network, Ridge Ventures, and TechOperators.
German software stress testing startup Steadybit has secured $6 million in a Series A round led by Paladin Capital Group, and with participation from existing investors Boldstart Ventures, Angular Ventures, and NewForge, Security reports.
Australian software security startup Nullify has raised AU$5.2 million (US$3.4 million) in a seed funding round led by Two Sigma Ventures and Root Ventures, Startup Daily reports. The company plans to launch in the US during NY Tech Week in June.
Executive moves.
Rockwell Automation has appointed Stephen Ford as Chief Information Security Officer. Ford previously served as Vice President of Global Security at McKesson Corporation.
Accelera Solutions has named Greg Dyer as its Chief Operating Officer.
Absolute Software has hired Saul Gates as Chief Financial Officer.
Deepwatch has added Bill Phelps to its board of directors.