At a glance.
- Thoma Bravo to acquire Darktrace for $5.3 billion.
- IBM will acquire HashiCorp for $6.4 billion.
- Intel 471 acquires Cyborg Security.
- Island raises $175 million in Series D round.
- Tines secures $50 million Series B extension.
Mergers and acquisitions.
US-based private equity firm Thoma Bravo will acquire UK cybersecurity firm Darktrace for approximately $5.3 billion, TechCrunch reports. The companies said in a Rule 2.7 announcement, "Thoma Bravo believes that the acquisition of Darktrace represents an attractive opportunity to increase its exposure to the large and growing cybersecurity market, and to invest to accelerate Darktrace's continued development and further scale the business globally." CNBC notes that that "Darktrace specifically referenced its belief that it is undervalued in the U.K. as a reason for the sale."
IBM has agreed to acquire cloud infrastructure automation and security lifecycle management company HashiCorp for $6.4 billion. IBM says "HashiCorp is expected to drive significant synergies for IBM, including across multiple strategic growth areas like Red Hat, watsonx, data security, IT automation and Consulting."
Delaware-based threat intelligence firm Intel 471 has acquired Orlando, Florida-based threat hunting company Cyborg Security. The company stated, "With this acquisition, Intel 471 is setting the standard for intelligence-led threat hunting by cementing CTI as a key requirement to enable accurate hunts and proper measurements for operational success, ensuring return on investment for customers’ threat hunt programs."
Data security and ransomware recovery firm Veeam has acquired cyber-extortion incident response company Coveware. Veeam says the acquisition "brings best-in-class ransomware recovery and first responder capabilities to further strengthen Veeam’s radical resilience solutions for customers."
Investments and exits.
Dallas, Texas-based secure enterprise browser company Island has raised $175 million in a Series D round led by Coatue and existing investor Sequoia Capita, with participation from other existing investors. The funding brings the company's valuation to $3 billion. Island co-founder and CEO Mike Fey said the "new funding will enable us to invest more in R&D and customer success globally."
Dublin- and Boston-based security orchestration and automated response (SOAR) platform provider Tines has secured $50 million in a Series B extension led by Accel and Felicis, with participation from Addition, CrowdStrike Falcon Fund, and SVCI. The company says the funding "allows us to double down on our investment in people, product, partnerships, community, and customers."
San Jose, California-based identity-based network segmentation company Elisity has raised $37 million in a Series B round led by Insight Partners, with participation from AllegisCyber Capital and Two Bear Capital. The company says it "will use the new funds to extend its platform’s artificial intelligence (AI) capabilities."
Israeli non-human identity management startup Oasis Security has secured a $35 million Series A extension led by existing investors Accel, Cyberstarts, and Sequoia Capital. The company says it "plans to leverage new funds to further invest in its R&D and Go-To-Market functions, accelerating the execution of its ambitious product roadmap and bringing its game-changing platform to more organizations."
Israeli threat exposure management company Nagomi Security has emerged from stealth with $23 million in Series A funding led by TCV, with participation from CrowdStrike Falcon Fund and Okta Ventures. The company had previously received $7 million in seed funding from Team8, CTech reports. Nagomi says the funding "will be used primarily to accelerate go-to-market and research and development efforts in order to meet the increasing global demand for proactive security and threat exposure management."
Washington, DC-based cloud email security platform provider Sublime Security has raised $20 million in a Series A round led by Index Ventures, with participation from existing investors Decibel Partners and Slow Ventures. The company says the "funding will be used to further invest in the platform and improve the customer experience."
Canadian data security firm Qohash has secured $17.4 million in a Series B round led by Fonds de solidarité FTQ, with participation from Export Development Canada and existing investor Desjardins Capital, BetaKit reports. The company's co-founder and CEO Jean Le Bouthillier stated, "The latest funding accelerates our investment in targeted AI capabilities, enhancing our platform to provide more precise and actionable insights for our customers."
Seattle-based security operations monitoring platform provider Dropzone AI has raised $16.8 million in a Series A round led by Theory Ventures, with participation from existing investors Decibel Partners, Pioneer Square Ventures, and In-Q-Tel. The company says it "will use this new injection of capital to continue scaling its GTM motion and its engineering team."
French predictive security and brand protection firm BforeAI has raised $15 million in a Series A round led by SYN Ventures, with participation from the Partnership Fund for New York City and existing investors Karma Ventures, Karista, and Addendum Capital.
Palo Alto, California-based network security firm Prophet Security has emerged from stealth with $11 million in seed funding from Bain Capital Ventures, with participation from angel investors.
Austin, Texas-based SIEM provider RunReveal has raised $2.5 million in seed funding from Costanoa Ventures. The company says it "plans to use the funds to scale its team and roll out additional offerings."
Executive moves.
EclecticIQ has promoted its Chief Strategy Officer Cody Barrow to CEO.
Bitsight has hired Lou Serlenga Chief Revenue Officer and Rob Dinning as Chief Legal Officer.
Aqua Security has named Mike Dube as Chief Revenue Officer.
Kordia has appointed Glen White as Executive General Manager for Cyber Security.