At a glance.
- Bugcrowd acquires Informer.
- Lumos raises $35 million.
Mergers and acquisitions.
European private equity firm Hg has acquired California-based risk management software provider AuditBoard for $3 billion. Axios notes, "The sale price represents more than a 20x multiple on AuditBoard's valuation when it last raised primary funding from VCs — a $40 million Series B round in 2018 led by Battery Ventures, which AuditBoard never actually tapped because it was already profitable."
Bug bounty and vulnerability disclosure platform provider Bugcrowd has acquired attack surface management company Informer. The companies stated, "Together, our combined platforms will enhance the value that customers receive from Bugcrowd by bringing best-of-breed asset discovery and monitoring to multiple use cases. For example, Informer will strongly complement Bugcrowd penetration testing services and its existing Attack Surface Management offering (Bugcrowd ASM Risk) powered by the hacker community."
Canadian IT management company OpenText has acquired managed detection and response firm Pillr. OpenText stated, "This combination of Pillr technology and OpenText security expertise provides enhanced threat hunting, monitoring, and response for customers where skill gaps, skill shortages, and alert fatigue create a significant need today."
Investments and exits.
San Francisco-based identity and access management company Lumos has raised $35 million in a Series B round led by Scale Venture Partners, with participation from Andreessen Horowitz, Harpoon Ventures, Neo, and others.
San Mateo, California-based AI security company WitnessAI has secured $27.5 million in a Series A round co-led by GV and Ballistic Ventures. The company says the funding "will be used to accelerate development of new AI guardrails and build out a global sales and support organization."
Delaware-based threat intelligence and brand protection firm SOCRadar has raised $25.2 million in a Series B round led by PeakSpan Capital, with participation from Oxx. The company says the funds "will primarily be used to drive the company’s expansion in the US market, invest in the EU market to strengthen the company’s strong presence in the region, continue to penetrate the Managed Service Provider (MSP) and Managed Security Services Provider (MSSP) markets and invest in research and development."
Santa Clara, California-based phishing protection firm Bolster has raised $14 million in a Series B round led by M12, with participation from existing investors Thomvest Ventures, Crosslink Capital, Liberty Global Ventures, Cheyenne Ventures, Cervin Ventures, and Transform Capital. The company stated, "With the new funding, Bolster plans to invest in GTM initiatives that strategically prioritize executive monitoring, business email compromise (BEC) attack detection and takedown, and threat-hunting automation. The sales organization will be structured around these key areas, supported by comprehensive training and marketing initiatives, to increase market penetration and heighten customer engagement."
Cloud security company Averlon has emerged from stealth with $8 million in seed funding led by Voyager Capital, with participation from Salesforce Ventures and Outpost Ventures, bringing the company's total funding to $10.5 million. The company says it "will use the proceeds from our initial seed round to accelerate adoption of our platform, sales, marketing, and continued product development."
Executive moves.
Axonius has hired Wendy Zheng as Chief Financial Officer and Joe Diamond as Chief Marketing Officer.