At a glance.
- Wiz acquires Gem Security.
- Cyera raises $300 million in Series C round.
Mergers and acquisitions.
New York City-headquartered cloud security company Wiz has acquired cloud-native application protection platform provider Gem Security (also based in New York). Wiz stated, "With a valuation of $10 billion and $900 million raised to date, Wiz aims to add to its Cloud Native Application Protection Platform (CNAPP) with Gem's technology. The acquisition advances Wiz's Cloud Detection and Response (CDR) capabilities, and also demonstrates Wiz's commitment to consolidation: as organizations push to combat tool sprawl, siloes, and visibility gaps, Wiz is building the world's go-to platform for protecting everything organizations build and run in the cloud."
Massachusetts-based application risk management company Veracode has acquired cloud environment risk management firm Longbow Security. Veracode stated, "The acquisition marks the next exciting phase of Veracode, underscoring the company’s commitment to help organizations effectively manage and reduce application risk across the growing attack surface. The integration of Longbow into Veracode enables security teams to discover cloud and application assets quickly and easily assess their threat exposure using automated issue investigation and root cause analysis."
Confidential computing platform provider HUB Cyber Security has acquired data management and security company Qpoint Technologies. Both companies are based in Israel. HUB stated, "This acquisition is strategically aligned with HUB’s mission to establish a leading global secure data fabric ecosystem. QPoint, boasting a diverse customer base of over 100 renowned brand clients, including partnerships with Rafael Advanced Defense Systems, the developer of the 'Iron Dome,' the Israel Airport Authority and the Ministry of Defense of Israel."
Florida-based critical infrastructure protection firm OPSWAT has acquired online cybersecurity learning company CIP Cyber. OPSWAT says CIP Cyber's "integration with OPSWAT Academy, a comprehensive training platform that educates and certifies cybersecurity professionals to safeguard critical environments, marks a significant milestone in cybersecurity education. By combining the expertise of both entities, the collaboration will deliver top-tier training to cybersecurity professionals worldwide with a total of 31 certification courses covering IT and OT/ICS."
Investments and exits.
New York- and Israel-based data security company Cyera has raised $300 million in a Series C round led by Coatue, with participation from Spark Capital, Georgian, AT&T Ventures, and existing investors Sequoia, Accel, Redpoint, and Cyberstarts. The funding brings the company's valuation to $1.4 billion. Cyera's CEO and co-founder Yotam Segev stated, "The funding we secured will support us as we continue to build atop the industry’s best data security platform, and look to expand our team globally. This will be critical to accomplishing our goal of enabling security teams to run their data security programs successfully."
San Francisco-based security compliance management automation firm Sprinto has raised $20 million in a Series B round led by Accel, with participation from existing investors Elevation Capital and Blume Ventures. The company stated, "With this new round of funding, we will double down on our R&D efforts, with a sharp focus on AI and intelligent automation. We will enrich core risk and compliance modules with these cutting-edge capabilities, especially in third-party risk management and internal risk management, and transform them into standalone products."
Palo Alto, California-based cloud security firm Permiso has raised $18.5 million in a Series A round led by Altimeter Capital, with participation from Point72 Ventures. The company says it will use the funding "to rapidly increase integrations and introduce new product capabilities to their customers and the market."
Boston-based online brand protection company Allure Security has secured $10 million in a Series A round led by Curql, with participation from Datatec founder Jens Montanana and existing investors Glasswing Ventures, Zetta Venture Partners, Gutbrain Ventures, and PBJ Capital. The company says it "will use this funding to grow its research and development team, expand its go-to-market function, and extend its leadership position."
Bengalaru-based Governance, Risk, and Compliance (GRC) platform provider Scrut Automation has raised $10 million in growth capital from existing investors Lightspeed, MassMutual Ventures, and Endiya Partners. The company says it "will use the funding to enhance their platform capabilities, incorporate generative AI use cases to reduce the manual effort for risk and compliance teams, and expand to North American and European markets."
New Brunswick-based AI system security company TrojAI has raised $5.75 million in an additional round of seed funding led by Flying Fish, with participation from Alteryx Ventures, Flybridge Capital Partners, and existing investors Build Ventures and Techstars. The company stated, "The additional capital will help TrojAI build on its success, grow, and continue to enable enterprises to secure AI models and applications. It will support product development, sales, and marketing efforts. To meet growing global demand, TrojAI will also expand its operations to the U.S. with a new office in Boston, Massachusetts."
Minneapolis-based security-as-a-service firm Ostra Cybersecurity has secured $4 million in a Series A round led by Rally Ventures, with participation from existing investor Jeff Cowan. Ostra stated, "The most recent round of funding will help fuel Ostra's go-to-market engine. The company plans to nearly double its customer-facing teams in areas such as account management, channel marketing, customer success, and support. Ostra will also continue to build its US-based team in channel partner recruitment and support, based on the momentum generated by ongoing initiatives to attract MSPs and others within the partner community."
Executive moves.
TrojAi has appointed Lee Weiner as CEO. Weiner previously spent eleven years as a senior executive at Rapid7.
SIXGEN has named Jack Wilmer as CEO. Wilmer previously served as CEO at Core4ce.
Cyera has appointed Jason Clark as Chief Strategy Officer.
Nucleus Security has appointed Tamir Hardof as Chief Marketing Officer and added Jeremiah Grossman to its board of directors.