Investments and insights.
$77M RAISED | 5 DEALS | 3 COUNTRIES
- XBOW has secured an additional $35 million in Series C funding from strategic investors.
- Bug Bounty Switzerland has raised $15.3 million in a Series A round led by Direttissima Growth Partners.
- Kigen has raised £10 million (US$13.5 million) in funding from Salica Investments.
- General Analysis has secured $10 million in seed funding led by Altos Ventures.
- Herd Security has raised $3 million in funding led by Aspiron Ventures.
Seattle-based offensive security company XBOW has secured an additional $35 million in Series C funding from Accenture Ventures, DNX Ventures, Liberty Global Tech Ventures, NVentures (NVIDIA's venture capital arm), Samsung Ventures, and SentinelOne S Ventures. The new investment brings XBOW's total Series C funding to $155 million. The company stated, "This latest financing further accelerates XBOW’s go-to-market expansion and international growth strategy. With the deep expertise and regional network of DNX Ventures across Asia Pacific, combined with Samsung’s role as a preferred reseller in South Korea, XBOW is expanding its distribution channels and partner ecosystem to accelerate adoption in this key global market."
Swiss ethical hacking firm Bug Bounty Switzerland has raised ₣12,000,000 (US$15.3 million) in a Series A round led by Direttissima Growth Partners, with equal participation from Deutsche Beteiligungs AG (DBAG). The company stated, "This financing marks Bug Bounty Switzerland’s next phase, transitioning from a bootstrapped founder team to a category-defining European scale-up, and a step toward making continuous, intelligent security testing a plug-and-play reality for enterprises worldwide. The funding will support international expansion, the transition from AI‑assisted to increasingly autonomous orchestration of security tests, and team growth."
UK-based eSIM and Remote SIM security provider Kigen has raised £10 million (US$13.5 million) in funding from Salica Investments. The funding "will support Kigen’s next phase of growth across the UK, EU, and US."
San Francisco-based agentic AI security startup General Analysis has secured $10 million in seed funding led by Altos Ventures, with participation from 645 Ventures, Menlo Ventures, Y Combinator, and angel investors.
San Francisco-based AI-powered security training and simulation provider Herd Security has raised $3 million in funding led by Aspiron Ventures, with participation from Team Ignite, ForwardSlash VC, Forum Ventures, Rightside Capital, and YPO. The company says the funding "will expand product development across new training categories in HR and AI, optimize AI-powered video generation capabilities, and grow the company’s partnership ecosystem."
Mergers and acquisitions.
11 DEALS | 6 COUNTRIES
- Palo Alto Networks has agreed to acquire San Francisco-based AI security gateway company Portkey.
- Cisco intends to acquire Israeli agentic AI identity security firm Astrix Security for $400 million.
- Datavault AI has agreed to acquire San Diego-based cybersecurity compliance firm CyberCatch.
- Suzu Labs has acquired red-teaming platform provider Emulated Criminals.
- Spin.AI has acquired San Francisco-based Jira and Confluence backup provider Revyz.
- Everfield has agreed to acquire German OT and IIoT security monitoring firm Rhebo.
- ABS has acquired Arlington, Virginia-based cyber risk management firm RMC Global.
- OPAQUE has acquired cryptographic AI technologies from the Abu Dhabi-based Technology Innovation Institute (TII).
- Novacoast has acquired Pennsylvania-based identity and access management provider Concensus Technologies.
- Bridgepoint has acquired a majority stake in German identity security provider iC Consult.
- Infoblox has completed its acquisition of Brazilian threat intelligence firm Axur.
Palo Alto Networks has agreed to acquire San Francisco-based AI security gateway company Portkey. Lee Klarich, Chief Product & Technology Officer of Palo Alto Networks, stated, "As autonomous agents join the enterprise workforce, they also become a new, unmanaged attack surface. By integrating Portkey into Prisma AIRS, organizations will be able to confidently deploy and govern AI agents. With Portkey, we are providing enterprises with visibility into all their agentic traffic, and enabling them to control and protect against agentic threats."
Cisco has announced its intent to acquire Israeli agentic AI identity security firm Astrix Security for $400 million, Calcalist reports. Cisco stated, "We plan to integrate Astrix Security’s capabilities into Cisco Identity Intelligence, strengthening visibility and context across identities within the Cisco Security platform. We also intend to extend these capabilities into our zero trust access solutions, including Cisco Secure Access and Duo Identity and Access Management, helping organizations secure AI agents and non-human identities across a broad range of use cases. Customers will be able to discover, authenticate, and authorize agentic identities, as well as detect and respond when they use Cisco Secure Access as well as Duo."
Philadelphia-based data management provider Datavault AI has agreed to acquire San Diego-based cybersecurity compliance firm CyberCatch. Datavault stated, "The proposed acquisition is intended to give Datavault AI customers and partners an integrated path from secure compute through AI-driven data analytics, with continuous attestation at every layer."
Las Vegas-based offensive security firm Suzu Labs has acquired red-teaming platform provider Emulated Criminals. Suzu stated, "The acquisition strengthens Suzu Labs’ ability to pair AI-driven security with human-led, continuous validation, moving beyond point-in-time compliance to provide an unrelenting sparring partner for your defenses....With this acquisition, Suzu Labs announces the establishment of its new Continuous Adversarial Operations (CAO) practice, led by the former EC team and its leaders, Dahvid Schloss and Ann Rinaldi."
Palo Alto, California-based enterprise software security platform Spin.AI has acquired San Francisco-based Jira and Confluence backup provider Revyz. Spin stated, "The combined solution brings unified data protection and configuration management to organizations running Atlassian solutions alongside Google Workspace, Microsoft 365, and Salesforce."
European buy-and-hold investor Everfield has agreed to acquire German OT and IIoT security monitoring firm Rhebo. Everfield stated, "The existing management team, led by CEO Gerald Müller, will remain in place and continue to support customers and partners, backed by Everfield’s established team in the DACH region. Rhebo’s headquarters and all development and technology will remain in Leipzig, Germany. Rhebo has been part of the Swiss-listed Landis+Gyr Group since 2021. The transaction to Everfield follows a strategic realignment of the parent company and enables Rhebo to continue its development under Everfield’s long-term ownership."
Houston-based risk consultancy ABS has acquired Arlington, Virginia-based cyber risk management firm RMC Global. ABS stated, "The acquisition strengthens ABS Consulting's capabilities and market position, bringing together two organizations with complementary expertise, shared values, and a common mission. Combining RMC's capabilities with ABS Consulting's scale, technical depth, and global resources unlocks more integrated solutions for clients operating in increasingly complex risk environments."
San Francisco-based confidential AI company OPAQUE has acquired cryptographic AI technologies from the Abu Dhabi-based Technology Innovation Institute (TII). OPAQUE stated, "The acquired technology — already proven in real-world use cases — adds two critical capabilities to OPAQUE's platform: confidential AI model training powered by advanced cryptographic techniques such as multi-party computation and fully homomorphic encryption, as well as post-quantum cryptographic protections."
Kansas-based cybersecurity services provider Novacoast has acquired Pennsylvania-based Concensus Technologies, an identity and access management provider that serves educational institutions. The companies stated, "For existing Novacoast clients, the acquisition adds a significant bench of identity engineers and education-sector IAM expertise. For Concensus clients, everything they rely on remains in place. Those clients now also have access to the full depth of Novacoast’s capabilities in cybersecurity advisory, managed security services, threat detection and response, vulnerability management, and a team of specialists that extends well beyond identity."
British investment firm Bridgepoint has acquired a majority stake in German identity security provider iC Consult. Bridgepoint stated, "With Bridgepoint’s support and under Jürgen Biermann’s leadership, iC Consult will focus on accelerating international expansion, strengthening its managed services offering, further investing in AI-enabled capabilities, modernizing and evolving its service portfolio, and continuing to pursue selective M&A opportunities to build a scaled global IAM platform."
Santa Clara, California-based IT automation and security company Infoblox has completed its acquisition of Brazilian threat intelligence firm Axur. Infoblox's president and CEO Scott Harrell stated, "By combining Axur’s external threat discovery, takedown, and threat intelligence with Infoblox’s DNS-based security and intelligence, we expand Infoblox’s preemptive protection beyond enterprises’ perimeter and into arenas like social media, app stores, and the dark web."
Executive moves.
BlueVoyant has named John Hernandez as its new CEO. The company's former CEO, Jim Rosenthal, will continue to serve as Chairman of the company's Board of Directors. Hernandez previously served as President & General Manager of Quest Software's Microsoft Platform Management business.
Netwrix has appointed Avesta Hojjati as Chief Technology Officer, Marcin Gierlak as Vice President of Engineering and Kraków Site Leader, and Natalie Tomlin as Head of Channel for North America. Hojjati most recently served as CTO at SecurityScorecard, Gierlak was previously VP of Engineering at Napster, and Tomlin has previously held roles at McAfee, Trellix, and Palo Alto Networks.
Sumo Logic has hired Jeremy Powell as its new CISO and Ben Cody as its new Senior Vice President of Product Management. Powell previously served as CTO at Lockthreat, while Cody was most recently SVP of Product Management at SailPoint.
ThreatDown has named Chung Ip as Chief Financial Officer and Lisa O’Reilly as Vice President of Marketing. Ip most recently served as CFO of Cleo, while O’Reilly was previously Vice President of Marketing at iVerify.
Bitdefender has appointed Frank Koelmel as Chief Revenue Officer for its Business Solutions Group. Koelmel most recently served as CRO at Logpoint (now Guardsix).
CrowdStrike has promoted Amanda Adams to Senior Vice President of Global Alliances. Adams previously served as the company's Vice President of Americas Alliances.
Forward Edge-AI has appointed Dionis Taveras as Senior Vice President of Sales & Channel Partners. Taveras most recently served as Global Head of Alliances and GTM for Project Fort Zero at Dell Technologies.
Invicti has added Katie Bullard to its board of directors.