Investments and insights.
$629M RAISED | 12 DEALS | 6 COUNTRIES
- Armis secures $435M, pre-IPO round at a valuation of $6.1 billion.
- Formalize raises $34.4M, Series B led by Acton Capital and BlackFin Tech.
- Daylight raises $33M, Series A round led by Craft Ventures.
- Teleskope raises $25M, Series A round led by M13.
- Reflectiz raises $22M, Series B round led by Fulcrum Equity Partners.
- WideField Security raises $11.3M, Series A funding led by Crosspoint Capital.
- Malanta secures $10M, seed funding led by Cardumen Capital.
- Spektrum Labs emerges from stealth with $10M in seed funding.
- Portal26 raises $9M, Series A funding led by Shasta Ventures.
- SecurePII raises $3.5M, seed funding led by Tidal Ventures.
- RedCarbon secures $3.4M, Series A funding led by Azimut Group.
- VeriQuantix raised $2.4M in funding led by Uniseed.
San Francisco-based attack surface management company Armis has secured $435 million pre-IPO round at a valuation of $6.1 billion. The round "was led by Growth Equity at Goldman Sachs Alternatives with major participation from CapitalG, and was joined by new investor Evolution Equity Partners, alongside several existing investors." The company stated, "The additional capital comes to fuel Armis’ momentum as it executes on its three-year plan, with Armis projecting to reach $1 billion in ARR and undertaking preparations for an initial public offering. The funding will also support continued product innovation, go-to-market expansion, and strategic acquisitions."
Danish governance, risk, and compliance (GRC) platform provider Formalize has raised €30 million (US$34.4 million) in a Series B round led by Acton Capital and BlackFin Tech, with participation from West Hill Capital and CIBC Innovation Banking. The company stated, "The new funding will enable Formalize to strengthen its position as the go-to compliance operations platform in Europe and scale its presence in key markets such as DACH and France, opening new offices and growing local teams to support customers and partners on the ground."
Israeli managed detection and response provider Daylight has secured $33 million in a Series A round led by Craft Ventures, with participation from Bain Capital Ventures, Maple VC, and angel investors. The company says the funding "will fuel Daylight's U.S. expansion, accelerate the development of its AI-powered security operations platform, and support the launch of new AI-driven modules for identity threat response and cloud workload protection."
Montreal-based threat exposure management company Flare has raised $30 million in funding "to accelerate growth and innovation." The company says the funding "includes a $15 million Series B extension led by Inovia Capital’s Growth Fund, with participation from Base10 Partners and White Star Capital, plus $15 million in debt financing from BMO."
New York-headquartered data protection platform Teleskope has raised $25 million in a Series A round led by M13, with participation from existing investors Primary Venture Partners and Lerer Hippeau. The company says it "will use the funds to accelerate growth, expand product capabilities, and scale its go-to-market efforts."
Boston-based web exposure management platform Reflectiz has raised $22 million in a Series B round led by Fulcrum Equity Partners, with participation from Capri Ventures, YYM Ventures, AFG Partners, and others. The company stated, "The new capital will enable Reflectiz to expand its current product offering to provide comprehensive Continuous Threat Exposure Management (CTEM) for websites, as well as support the company’s growing partner and alliances network and go-to-market acceleration. It will also fuel the establishment of its global headquarters in Boston, where Reflectiz is rapidly expanding its team."
Sunnyvale, California-based identity security firm WideField Security has raised $11.3 million in Series A funding led by Crosspoint Capital, with participation from existing investor Engineering Capital and others. The company says the "funding will accelerate product development and go-to-market expansion."
Israeli attack prevention startup Malanta has emerged from stealth with $10 million in seed funding led by Cardumen Capital, with participation from The Group Ventures. According to SecurityWeek, the company will use the funding "to further expand Malanta’s engineering and ‘go to market’ efforts, and to improve its ability to detect what it calls indicators of pre-attack."
Indianapolis-based cyber resilience orchestration platform provider Spektrum Labs has emerged from stealth with $10 million in seed funding, SecurityWeek reports. The company hasn't shared details of the funding.
Los Gatos, California-based generative AI adoption management platform Portal26 has raised $9 million in Series A funding led by Shasta Ventures, with participation from Fusion Fund and "the venture arm of a Fortune 500 financial services institution." The company says it "will use the proceeds to continue its accelerated growth and product innovations."
Australian payment data security firm SecurePII has secured $3.5 million in seed funding led by Tidal Ventures. The company says the funding "will be used to accelerate its US and global presence," as well as to "scale SecurePII’s sales and enablement teams and to accelerate product innovation, including AI-powered selective redaction."
Italian SOC automation company RedCarbon has raised €3 million (US$3.4 million) in Series A funding led by Azimut Group, with participation from Diapason Prime and FND XI. The company stated, "With this fundraising, RedCarbon aims to consolidate its position as a European reference in AI-based cybersecurity and accelerate its growth into international markets. By 2028, the company plans to onboard 16 strategic roles and, soon, appoint a new CEO responsible for commercial development in Europe and the Middle East—two particularly promising markets for cybersecurity."
Australian quantum-focused security startup VeriQuantix has raised $2.4 million in funding led by Uniseed, with participation from the UniQuest Extension Fund, PowerHouse Ventures, and Lucerne Investment Partners, Australia Business News reports.
Mergers and acquisitions.
$34.2B* TRANSACTIONS | 9 DEALS | 6 COUNTRIES
*Not all deal values reported.
- Google's $32 billion Wiz acquisition clears DOJ's antitrust inquiry.
- Francisco Partners will take Jamf private for approximately $2.2 billion.
- Searchlight Cyber has acquired Luxembourg-based cyber risk management company Intangic.
- Ping Identity has agreed to acquire Keyless.
- Bugcrowd has acquired Pittsburgh-based offensive API security firm Mayhem Security.
- Zscaler has acquired New York-headquartered AI security firm SPLX.
- SEK has acquired identity and access management firm Netbr.
- Yokogawa Electric Corporation has acquired Italian MSSP Intellisync and Sicilian energy grid management company WiSNAM.
- Presidio has acquired Virginia-based cloud solutions company Achieve One.
The US Justice Department has concluded its antitrust investigation into Google's proposed $32 billion acquisition of Wiz, Bloomberg reports. The decision marks a key step toward the deal's completion, though the acquisition is still under scrutiny by other antitrust regulators. Google confirmed in a statement to CRN that it expects the deal to close in 2026.
San Francisco-based investment firm Francisco Partners has entered into a definitive agreement to acquire Minneapolis-headquartered Apple device security firm Jamf for approximately $2.2 billion. Jamf CEO John Strosahl stated, "We believe transitioning to a private company will provide greater financial flexibility and strategic alignment to accelerate growth, expand through innovation and M&A, and strengthen our market leadership."
UK-headquartered dark web intelligence firm Searchlight Cyber has acquired Luxembourg-based cyber risk management company Intangic. Searchlight stated, "Intangic has been working with Searchlight for the last five years, using its dark web data as one of the core datasets in its cyber risk models. The acquisition brings Intangic into Searchlight, providing enterprises with one company to both assess their cybersecurity risk and mitigate at a technical level – using Searchlight’s tools to take action."
Denver-based identity security company Ping Identity has agreed to acquire London-based biometric authentication firm Keyless. The companies said in a press release, "Following completion of the acquisition, Ping Identity intends to integrate Keyless’ privacy-preserving biometric authentication - built to work seamlessly across devices, channels, and applications—into the Ping Identity Platform to help enterprises strengthen fraud prevention and user assurance without adding friction to digital experiences."
San Francisco-based bug bounty platform Bugcrowd has acquired Pittsburgh-based offensive API security firm Mayhem Security. Bugcrowd stated, "By combining the ingenuity of its global hacker community with Mayhem's cutting-edge AI platform, Bugcrowd aims to help organizations ship safer software faster, at lower cost, and with greater confidence, while shrinking their attack surface. The terms of the transaction were not disclosed."
San Jose, California-based cloud security provider Zscaler has acquired New York-headquartered AI security firm SPLX. Zscaler stated, "SPLX’s innovative technology and deep expertise in AI red teaming, asset management, threat inspection, prompt hardening, and governance will expand Zscaler’s current capabilities, creating a new, dedicated, and natively integrated layer of AI protection within the Zscaler Zero Trust Exchange platform."
Brazilian cyber risk management provider SEK has acquired identity and access management firm Netbr, Biometric Update reports. Both companies are based in São Paulo. Igor Ripoll, CEO of SEK, stated, "With the arrival of Netbr, we combine leadership in digital identity with a robust ecosystem of advanced cybersecurity services. This combination gives us scale, governance, and innovation capacity to further support customers in critical sectors, delivering security and trust in a rapidly growing market."
Japanese electric engineering and software company Yokogawa Electric Corporation has acquired Italian MSSP Intellisync and Sicilian energy grid management company WiSNAM. Yokogawa stated, "Both companies will be integrated into BaxEnergy, a wholly-owned subsidiary of Yokogawa that provides renewable energy management solutions. This will allow Yokogawa to expand its cybersecurity capabilities and advanced grid control products, and elevate its presence in the renewable energy sector through the creation of a digital hub."
New York-headquartered IT services provider Presidio has acquired Virginia-based cloud solutions company Achieve One. The company says the acquisition "strengthens Presidio’s scale and technical capabilities across the Virginia and Washington, D.C. region, advancing its strategy of building regional density near high-value enterprise and public sector accounts."
Executive moves.
TrulySMB has named Tim Rookes as its new CEO, while the company's former CEO Vicky Critchley takes a new role as Executive Chair. Rookes previously served as the company's Chief Experience Officer.
Infinigate Group has named Peter Meier as its new Chief Financial Officer and Chief Operating Officer. DKV Mobility, the leading European B2B platform for on-the-road payments and solutions. Meier has previously held CFO roles at HERE Technologies, KUONI Group, and Sulzer LTD.
RecordPoint has appointed Brett Hooker as its first Chief Operating Officer. Hooker previously spent more than a decade in leadership roles at TechnologyOne.
Chainguard has named Parm Uppal as Chief Revenue Officer and Patrick Donahue as Senior Vice President of Product.
NetSPI has appointed Sridhar Jayanthi as Interim Chief Product and Technology Officer. Jayanthi previously served at McAfee and FireEye, and was the co-founder and CEO of PolyLogyx.
Checkmarx has hired Kevin Hayes as Director of Federal Sales. Hayes most recently served as regional sales director for Intelligence and Law Enforcement at Splunk.
Claroty has named Dave DeWalt as its board chairman. DeWalt is the founder and CEO of NightDragon, and previously served as president and CEO at both FireEye and McAfee.