Sunday, February 5 2023

Cybersecurity venture funding and merger activity: This week’s largest deals were MDR and security automation investments, as MSP consolidation continues to attract corporate buyers.

Funding

Cork, Ireland-based, data encryption company Valutree acquired $12.8 million in their series A funding round, led by investors Molten Ventures and Ten Eleven Ventures. Funds will be used to expand Valutree’s team, speed up releases, and strengthen security measures.

Drata, a security monitoring and compliance automation platform, secured $200 million in series C funding with the help of investors ICONIQ Growth and GGV Capital. This additional funding has upped Drata’s value to $2 billion, and funds will be utilized to compensate for its expanding consumer base.

Interpres Security, a NC-based threat-based cybersecurity platform, raised $8.5 million in seed funding led by Ten Eleven Ventures.

Vancouver-based mobile security company Expeto obtained $12 million in series B funding round led by Utah based investor Sorenson Capital, bringing their total financing up to $20 million.

Second Front Systems (2F), a public benefit security software company, ended their series A funding round with $32 million, co-led by investors Moore Strategic Ventures and AEI Horizon X. This will be allocated towards expanding their talent and increasing cybersecurity testing.

Field Effect, a Canada-based Managed Detection and Response (MDR) cybersecurity provider, grows their financing to $34.5 million after the most recent funding round with the help of Canadian investor Round13 and American investor Edison Partners.

Bitwave, a San Francisco, CA-based enterprise-focused platform for management of cryptocurrency tax, accounting and compliance, closed a $15 million Series A funding round led by Hack VC and Blockchain Capital, with participation from SignalFire, Valor Equity Partners, Arca, Pulsar Trading and Alumni Ventures Blockchain Fund.

Invent Analytics, a Philadelphia, PA-based retail planning solutions provider, raised $7.5 million in a Series A funding round led by EBRD (European Bank for Reconstruction and Development), with participation from Collective Spark.

Gaia AI, a Somerville, MA-based AI and robotics centric forestry startup, closed a $3 million round of pre-Seed investment, led by E14, with participation from Ubiquity Ventures, Space Capital and SOSV’s HAX.

Rezonate, a Boston, MA-based cloud core identity and access company, raised $8.7 million in a round led by State of Mind Ventures and Flybridge, with participation from Day Ventures and Merlin Ventures.

 

Mergers and Acquisitions

Information services provider Synoptek acquired Optistar Technology, a managed service provider. Synoptek hopes that this merger acquisition will help them better provide cyber security solutions and software engineering services

Veracode, MA-based global provider of application security solutions, acquired Germany-based automated security testing platform Crashtest Security. This is in hopes of expanding Veracode’s customer base as well as their dynamic application  security testing capabilities.

Artificial intelligence technology provider VIYI Algorithim Inc. was acquired by Venus Acquisition Corporation, a publicly traded acquisition company. After this acquisition VIYI Algorithim Inc. will be publicly traded as well.

 

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