Saturday, September 24 2022

Massive growth through expansion and acquisition. SenseOn sees +350% growth. HUB Security buys market access to 40 countries.  Tesserent secures an influx of $25 million to fund yesterday’s acquisitions.  Symphony Technology Group announces plans to buy FireEye’s product business at $1.2 billion with intent to merge McAfee’s enterprise business.

Funding

In the industry’s mad rush for cybersecurity against malicious and ever-growing actors, SenseOn nabs $20 million in Series A funding.  Eight Road Ventures spearheads this move, with MMC Ventures, Crane Venture Partners, and Winton Ventures Limited all expanding on their previous backing.  Growing by-and-through the onslaught of data breaches, SenseOn has stepped up to its client’s needs and has realized commensurate gains to the tune of +350% growth.

When the pandemic drove our world inside, the adoption of digital tools accelerated exponentially and drove the market for cybersecurity insurance forward.  Coalition finalizes Series E funding, raising $205 million at a $3.5 billion valuation.  Coalition’s breadth of cybersecurity tools and insurance instruments allows this outfit to manage and mitigate its customer’s cyber risk.  Led by Durable Capital, T. Rowe Price, and Whale Rock Capital, this influx will finance Coalition’s market expansion while moving towards that IPO.

Snyk secures an additional $75 million as part of its $530 million Series F, bringing the company’s valuation to $8.6 billion. With its focus to build cyber security tools for developers, this capital influx was led by Atlassian Ventures and Saleforce Ventures and brings these three farther in the fold to securitize the entire application.

Big data analytics outfit S2W closes its Series B to secure $10 million.  This cybersecurity company utilizes its threat intelligence platform to monitor channels off the beaten path; including the dark web, the deep web, social media platforms, and cryptocurrencies.  S2W indicates influx will fund efforts for rapid growth.

ForMotiv raises $6 million in funding round lead by Vestigo Ventures with participation from Plug & Play Ventures and Dreamlt Ventures.  ForMotiv provides enterprises with real-time predictive intelligence on customer intent as users engage with applications.  This capital influx is earmarked to retain senior level assets across their tech, product, and sales departments.

SecZetta closes Series B at $20.5 million led by SVN Ventures and MassMutual Ventures.  As a provider of third-party identity risk solutions, SecZetta will utilize this capital to expand its third-party risk initiatives and its platform’s capabilities.

MERGERS AND ACQUISITIONS

Tesserent seeks to fund two acquisitions through issuing 119 million new shares (Listed: Australian Securities Exchange).  At a value of $0.21 per share, Tesserent secures an influx of approximately $25 million to fund yesterday’s acquisition of Loop Secure (at ~$6 million) and Airloom (at ~$5 million).  With the remaining balance earmarked for tomorrow’s acquisitions, Teseerent focuses on growth in scale and capability.  Let’s not forget the cost of doing business; $3 million for capital costs and transaction fees.

Akamai has inked a deal to acquire Guardicore, a cloud and data security firm.  This move adds to Akamai’s broad offerings for enterprise level security solutions.  With an eye to provide that second-layer defense, this move provides Akamai the ability to implement “micro-segmentation” to limit attack surfaces when compromised.  This move is currently set to close in 4Q of 2021 with a sales price of approximately $600 million.

Symphony Technology Group (SGT) announces plans to buy FireEye’s product business at $1.2 billion with the intent to merge that asset with McAfee’s enterprise business, which it recently acquired at $4 billion.  SGT intends to close on FireEye in 4Q of 2021, and plans to integrate McAfee and FireEye in that same quarter.  With similar struggles against their respective competitors, SGT looks to integrate these companies security portfolio to realize a sum greater than its parts.

HUB Security announces its acquisition of Cosmec Global for a total NIS 70 million, with NIS 40 million in cash and the remaining balance through shares.  HUB Security seeks to expand its international networks for sales and distribution through this acquisition and forecast a doubling in revenue through its immediate expansion into 40 countries.

Cybersecurity company BlueVoyant acquires big data solutions consultancy Concanon to expand services to customers of the Splunk Cloud Platform.  This acquisition allows BlueVoyant the opportunity to provide Concanon customers with end-to-end services by utilizing its technology and expertise.

Read more cybersecurity M&A and funding updates from SecureDisruptions here.

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