At a glance.
- NinjaOne to acquire DropSuite for $252 million.
- Oligo raises $50 million in Series B round.
- Eclypsium secures $45 million in Series C funding.
Mergers and acquisitions.
Austin, Texas-based IT management and security company NinjaOne has agreed to acquire Australian cloud data backup and recovery firm Dropsuite for approximately $252 million, with the deal expected to close in the first half of 2025. Sal Sferlazza, CEO and co-founder at NinjaOne, stated, "Dropsuite will help our customers be more successful by extending data protection from the endpoint to SaaS applications, automating and simplifying backup, and filling critical data protection gaps."
Israeli cyber exposure management company CYE has acquired Solvo's technology for Cloud Security Posture Management (CSPM) and Cloud Infrastructure Entitlement Management (CIEM). CYE stated, "By integrating Solvo's advanced CSPM capabilities, CYE will enable businesses to continuously strengthen their cloud security posture, mitigate risk, and safeguard their assets across hybrid and multi-cloud environments. The expanded capabilities will also improve solutions offered through channel partners, broadening CYE's market reach and providing increased value to customers worldwide."
Option3's ENIGMA, a cybersecurity platform focused on OT and IoT environments, has agreed to acquire IoT software security firm Dellfer. Manish Thakur, Managing Partner of Option3, stated, "Dellfer will continue its leadership in the automotive sector, building on years of successful development work that allow it to deliver security to the mass market, a critical enabler in an industry where software-enabled connected cars are becoming the norm. As part of ENIGMA, though, Dellfer is also now positioned to enter other sectors, from healthcare to government. Its integration with Onclave will further create a powerful force multiplier in capabilities that will substantially enrich our solution set for customers."
MorganFranklin Consulting’s cybersecurity practice has "completed a private equity backed management buyout from the broader MorganFranklin Consulting organization to become a standalone professional services firm." MorganFranklin Cyber now has majority ownership and backing from private equity firm M|C Partners. The standalone company will continue to be led by its founding leadership team Pete Schile, Keith Hollender and Jonah Dimeo.
Investments and exits.
Israeli application detection and response startup Oligo Security has raised $50 million in a Series B round led by Greenfield Partners, with participation from Red Dot Capital Partners, Strait Capital, and existing investors Ballistic Ventures, Lightspeed Venture Partners, and TLV Partners. The company says the "funds will be used to fuel global go-to-market efforts to meet the increasing demand for the Oligo platform."
Portland, Oregon-headquartered supply chain risk management firm Eclypsium has raised $45 million in an oversubscribed Series C round from Qualcomm Ventures, Pavilion Capital, Singtel Innov8, and Sixty Degree Capital, alongside existing investors Ten Eleven Ventures, Andreessen Horowitz, and Madrona. The company stated, "Eclypsium will use the new funding to scale operations in critical GenAI hardware and smart connected devices that remain unaddressed today. Eclypsium plans to continue investing heavily in the North America commercial and federal markets, as well as the APAC region. The company is also working with emerging regions that have been recently targeted by nation state and ransomware threat actors. As the global authority on supply chain security, the company will also expand its world-renowned supply chain research lab to help industry partners and customers perform device security assurance and certification."
Poland- and San Francisco-based privileged access management startup Fudo Security has secured $10 million in a funding round led by bValue Growth Fund. The company says the funding "will be directed toward technological advancements, including the deployment of revolutionary Instant Access solutions for third parties and strengthening its position as a global leader, with a particular focus on the U.S. market."
Austin, Texas-based application security company DryRun Security has raised $8.7 million in a seed funding round led by LiveOak Ventures and Work-Bench, with participation from Cannage Capital. DryRun says it "will use the investment to increase its engineering hires and grow its Go To Market (GTM) function."
Israeli non-human identity security startup Clutch Security has raised $8.5 million in a seed funding round led by Lightspeed Venture Partners, with participation from Merlin Ventures, CCL (Cyber Club London), and angel investors, Calcalist reports.
Luxembourg-based open-source password management platform Passbolt has raised $8 million in a Series A round led by Airbridge Equity Partners (Netherlands), with participation from existing investors including Expon Capital's Digital Tech Fund, ScaleFund, Seeder, Dedicated, Bondi Capital, Carricha Capital, and LBAN. The company says the funding "will be used to accelerate product development and meet complex security and regulatory requirements, with the first milestone being the next major release, Passbolt 5.0."
Connecticut-headquartered security data curation company Axoflow has secured $7 million in seed funding led by EBRD Venture Capital, with participation from all existing investors including Credo Ventures and e2vc. The company says it will use the funding to "further accelerate product development and strengthen its market presence."
Spanish red-teaming platform provider Zynap has raised $5.9 million in a funding round led by Kibo Ventures and Kfund.
North Carolina-based OT security assessment platform provider Frenos has raised $3.88 million in a seed round led by DataTribe. The company says the funding "will accelerate the advancement of the Frenos Platform and expand the company’s go-to-market presence across every sector of critical infrastructure."
Executive moves.
Trellix has appointed Vishal Rao as its new CEO.
Cobalt has named Gunter Ollmann as Chief Technology Officer.
Cyberhaven has appointed Chris Bates as Chief Security Officer.