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.
