At a glance.
- Netskope files for IPO.
- Scope Technologies to acquire Plurilock's SSO company CloudCodes.
Mergers and acquisitions.
Canadian quantum-secure infrastructure company Scope Technologies has agreed to acquire India-based SSO provider CloudCodes from Plurilock. Scope will pay approximately $1,780,000, and expects the deal to close next month. Scope stated, "This acquisition represents a strategic milestone in Scope's mission to integrate its quantum-secure ecosystem under the QSE Group. Upon completion, Cloud Codes' proprietary distributed storage middleware will anchor QSE's decentralized cloud backbone and serve as the foundation for what is intended to be the world's first commercially deployed quantum-resistant Single Sign-On (SSO) platform."
Belgian code security platform Aikido has acquired Armenia- and San Francisco-based AI code review company Trag. Aikido stated, "The Trag team officially joined Aikido earlier this summer. Together, we’ve built out Aikido Code Quality: AI-native, developer-friendly, and available for early access today."
Cryptic Vector, a US government contractor focused on offensive cybersecurity and electronic warfare, has acquired offensive cyber research and development firm Caesar Creek Software. Both companies are based in Ohio. Cryptic Vector stated, "The addition of Caesar Creek adds to Cryptic Vector’s momentum and growth trajectory, strengthening the Company’s position as one of the largest providers of offensive cyber solutions supporting the IC and DoD, with over 250 cyber engineers and experts."
Investments and exits.
Santa Clara, California-headquartered SASE provider Netskope filed for an IPO last Friday, and will go public on the Nasdaq as "NTSK." The company has raised approximately $1.4 billion in funding since its founding in 2012. Netskope hasn't disclosed the price of its stock, but Reuters reports that the IPO "is expected to raise more than $500 million, which could value the company at over $5 billion."
Netskope is not profitable, but notes that its revenue is climbing. The company said in its SEC filing, "Our Annual Recurring Revenue increased 33% year-over-year to $707 million as of July 31, 2025, compared to $531 million as of July 31, 2024. Our revenue increased 31% year-over-year to $328 million for the six months ended July 31, 2025, compared to $251 million for the six months ended July 31, 2024. Net loss improved to $170 million for the six months ended July 31, 2025, compared to $207 million for [the] six months ended July 31, 2024."
UK-based fraud prevention company Innerworks has raised €3.7m (US$4 million) in seed funding led by AlbionVC, with participation from Digital Currency Group, Founders Capital, Firestreak Ventures, NVTBL Ventures, Metaversal Ventures, and angel investors. According to FinTech Global, Innerworks plans to use the funding "to scale its platform, broaden its reach, and strengthen its defences against increasingly sophisticated AI-led cybercrime."
Michigan-based AI application security firm Swept AI has raised $1.4 million in a pre-seed round led by M25, with participation from Wellington Management Company, BuffGold Ventures, SPARK Capital, Service Provider Capital, The Unicorn Group, and angel investors. The company says the funding "will support key hires and further product development as Swept AI scales its platform."
London-headquartered threat hunting platform provider Huntbase has closed a pre-seed funding round led by Osney Capital, with participation from angel investors through Halceon. The company didn't disclose the funding amount.
Executive moves.
Insurance provider DNV has appointed Annika Nevaste as CEO of its cybersecurity services business, DNV Cyber.
KnowBe4 has hired Joel Kemmerer as Chief Information Officer.
Horizon3.ai has named Holly Grey as Chief Financial Officer.
Tenable has appointed Matthew Brown as Chief Financial Officer. Tenable's former CFO, Steve Vintz, was recently appointed as Co-CEO alongside Mark Thurmond.
DTEX has hired Mike Price as Chief Revenue Officer.
Claroty has named Gil Gur Arie as Chief Product Officer.
MorganFranklin Cyber has appointed Dr. Jerome Farquharson as Managing Director and Sector Lead for Energy, Oil & Gas.
Simbian has hired Isaac Lujan as Global Vice President of Channel and Partnerships.