Monday, September 25 2023

Cybersecurity mergers and venture funding trends this week: Forcepoint completes its Bitglass acquisition. Devo and Dragos hit coveted unicorn status; each seek to expand new markets. Xorlab grabs CHF 1.2 million to advance the ActiveGuard platform, while QuintessenceLabs snags $25 million to expand into international markets. TransUnion grabs Sontiq to expand offerings for protection from identity theft and cyber threats.

Funding

New York-based Sonrai Security clears an additional $50 million through Series C to expand its cloud cybersecurity platform. Sonrai Security intends to leverage this new capital to expedite its R&D operation and free its global sales and marketing efforts.  Istari coordinated this round, with investors Menlo Ventures, Polaris Partners, Ten Eleven Ventures, and the New Brunswick Fund.

Cloud-Native Logging and Security Analytics firm Devo Technology raises $250 million through its Series E with a valuation at $1.5 billion. Devo Technology has earmarked these funds to finance its expansion into new markets. This investment was led by TCV, with contributions from General Atlantic, Eurazeo, Bessemer Venture Partners, and Insight Partners.

Quantum cyber security firm QuintessenceLabs secures $25 million with intent to expand its footprint to international markets; the US, the UK, Japan, and India.  QuintessenceLabs drives quantum computing principals to detect threats and preserve an enterprises’ digital infrastructure.  With this latest series led by CSIRO’s Main Sequence, QuintessenceLabs seeks to combat yet unknown threats delivered by bad-actors and their ever growing quantum computing powers.

Spicehaus Partners AG leads latest round of funding for Xorlab for CHF (swiss franc) 1.2 million.  Xorlab’s crown jewel, ActiveGuard, protects enterprise communications from the usual suspects through analyzing and enforcing a company’s policy on communication behavior, working to safe guard against spear-phishing, impersonation, ransomware and zero-day exploitation.    

Dragos closes Series D to see influx of $200 million, realizing a $1.7 billion valuation. With a focus on cybersecurity for industrial control systems and the operational technology realms, this capital influx is earmarked to accelerate Dragos’ global expansion and to further its efforts to support customers across multiple industries.   

With cyber attacks continuing to compromise government infrastructure, Shift5 secures $20 million via Series A with an earmark to bolster its cybersecurity and operational intelligence for commercial fleets and military enterprises. 645 Ventures led this Series A, with involvement by Squadra Ventures, General Advance, and First In.    

MERGERS AND ACQUISITIONS

Sysnet Global Solutions acquires SecureTrust to expand offerings for cyber security solutions and hasten market growth. Secure Trust concentrates on cyber security and compliance solutions with a direct focus on Payment Card Industry compliance. This acquisition provides Sysnet Global Solutions with an asset 20 years deep in experience and a customer base spanning ~95 countries.

HelpSystems acquires data loss prevention outfit Digital Guardian to bolster the company’s ability to categorize data and protect it across a wide set of applications and operating systems. Digital Guardian will integrate into HelpSystems’ data security portfolio, and combine with existing security solutions such as GoAnywhere, Clearswift, Agari, and Titus.

Chicago-based TransUnion announces agreement to acquire Sontiq for $638 million. The acquisition of Sontiq allows TransUnion opportunity to provide consumers and businesses the ability to proactively protect against identity theft and cyber threats; including identity monitoring, restoration, and response products.

Norwest Equity Partners acquired a majority stake in VSS Capital Partners portfolio company Coretelligent, a managed security services provider. VSS will remain a minority investor in Coretelligent. Financial terms of the transaction were not disclosed.

Forepoint finalizes its acquisition of Bitglass. Bitglass Security Device Edge operation addresses need to consolidate technologies to protect users as they access and use business data in cloud applications, on the web, and in private apps in data centers. This acquisition brings Forcepoint’s total to 3 acquisitions in 2021; all this with the stated goal to build, partner, and acquire technologies to provide a SASE architecture.  These prior acquisitions notably include Cyberinc and Deep Secure.

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

Previous

Cyber Deal Update: Query.ai, Bitsight, Security Advisor, & Zeguro

Next

Cyber Deal Update: IBM, Horizon3.ai, Gryphon Technologies, Micro Focus.

Check Also

Widget

Don’t Miss

Cyber Executive Moves: Expel, AXA XL

Ellie Buscemi

Expel appoints a new chief product officer, AXA XL announces a new chief executive and DataVisor appoints a new chief revenue officer. Expel, a security operations provider in Herndon, Virginia, appointed Yonni Shelmerdine as the new chief product officer on Aug. 28. Shelmerdine comes to Expel from SentinelOne where he was the vice president of Product Management, endpoint […]

Grip Security Raising $41 Million Series B Led by Third Point Ventures

SecureDisruptions

SaaS security company plans to accelerate growth and extend market leadership SaaS identity risk management platform Grip Security announced a $41 million Series B funding round led by Third Point Ventures, with participation from YL Ventures, Intel Capital and The Syndicate Group. The investment would bring Grip Security’s total funding to $66 million and marks a major milestone for the […]

Partner One Acquires Key Fidelis Cybersecurity Assets

SecureDisruptions

Partner One, one of the fastest growing software conglomerates in the world, has announced its acquisition of Fidelis Cybersecurity software, intellectual property, equipment, inventory and customer and reseller contracts. Fidelis software is a leader in the cybersecurity industry, with innovative eXtended Detection and Response (XDR) and Cloud Native Application Protection Platform (CNAPP). Fidelis solutions protect […]

Healthcare IoT: Risks, Policy, and the Path Forward 

John Powers

When Amazon launched as an online bookstore twenty-eight years ago, few would have imagined that patients could one day go to its website to treat their acid reflux. But times change. Amazon just expanded their virtual healthcare marketplace, Amazon Clinic. Across the U.S., customers can now consult with clinicians through virtual calls and get treatment […]

NIST Updates Cybersecurity Framework in New Draft, Seeks Public Comment

John Powers

The National Institute of Standards and Technology updated their cybersecurity framework for the third time in a new draft. The new framework offers guidance to organizations about reducing cybersecurity risks. It contains a set of outcomes so that any organization can evaluate, prioritize, grasp, and communicate its cybersecurity measures in an effective way. The draft […]

N.Y. Gov. Debuts Premier State Cybersecurity Strategy

John Powers

Governor Kathy Hochul (D-NY) recently introduced New York’s first cybersecurity strategy. The 15-page document lays out a blueprint to expand services to aid under-resourced entities and clarifies agency responsibilities. It provides $500 million to strengthen New York’s healthcare information technology and $7.4 million to expand the New York State Police’s Cyber Analysis Unit, Computer Crimes […]