Thursday, June 1 2023

Cybersecurity venture funding activity and mergers and acquisitions: This week’s most sizable deals included emergency and healthcare security service providers.


Industrial control system (ICS) cybersecurity provider Opscura Inc. received $9.4 million in Series A funding, which will help the Spain-based company with US expansion.

Tenable’s corporate venture capital arm led a $7 million seed funding investment in software supply chain security provider Lineaje.

Data monitoring platform Acceldata raised $50 million in Series C funding, led by March Capital. Sanabil Investments, Industry Ventures, and Insight Partners participated in the Series C round. Acceldata has raised nearly $100 million in total funding.

Blockchain data protection provider Elementus raised $10 million in their Series A-2 funding round led by technology investment firm ParaFi Capital. 

Network security software provider Forward Networks announced a $50 million Series D funding round led by MSD Partners. Section 32, Omega Venture Partners, Goldman Sachs, Threshold Ventures, A. Capital, and Andreessen Horowitz also participated in the Santa Clara, California-based company’s funding round.

Healthcare risk management provider Censinet raised $9 million in a funding round led by MemorialCare Health System’s venture capital arm. Rex Health Ventures, Ballad Ventures, LRVHealth, HLM Venture Partners, Schooner Capital, Excelerate Health Ventures, and Cedars Sinai participated in the Boston company’s funding round. Censinet has raised $22 million in total funding to date.

Cybersecurity training platform Hack The Box brought in $55 million in a Series B investment round, led by Carlyle, a multinational investment firm. The funding will be used to boost market growth and bolster international expansion, according to Hack The Box.

MedCrypt, a medical data security service company, secured more Series B funding from Dexcom Ventures, the venture capital extension of glucose monitoring manufacturer Dexcom. The investment from Dexcom Ventures raised MedCrypt’s funding to date to $36.4 million.

New York City-based risk detection software provider Sandbar raised a $4.8 million seed investment led by seed investor Abstract Ventures and Lachy Groom, an angel investor and former head of issuing Stripe.

RapidDeploy, an Austin, Texas-based emergency service software solutions company, raised $34 million in growth capital led by growth equity investment firm Edison Partners.  The investment, which also included contributions from General Motors Ventures, brings RapidDeploy’s total funds raised to $87 million.

Mergers & Acquisitions

Zero trust exchange platform Zscaler announced their plan to acquire Israeli startup and SaaS application security vendor Canonic Security. This will help Zscaler more holistically tackle supply chain security management in addition to data security. 

BlueAlly Technology Solutions, an information solutions provider, announced their acquisition of n2grate, an information technology infrastructure provider to federal agencies to help BlueAlly expand access to federal customers.

Supply chain risk management company Overhaul completed their acquisition of file encryption software provider Sensiguard, greatly expanding Overhaul’s ability to protect global supply chains. 

New York-based cloud services company Logicworks was acquired by broadband provider Cox Communications to accommodate for increasing demand and improve cloud systems.

HUB Cyber Security Ltd., an Israeli cybersecurity solutions company, announced an expected special purpose acquisition company (SPAC) merger through Mount Rainier Acquisition Corp. The SPAC merger will complete the business combination agreement between HUB Cyber Security and its Delaware-based subsidiary Rover Merger Sub, Inc., and public trading for the company on the NASDAQ is slated to open on Feb. 28.

 Irish risk intelligence company Corlytics announced its acquisition of ING’s regulatory technology platform SparQ. The acquisition is an effort from Corlytics to enhance the ability of financial service organizations to identify new regulations and threats in the sector.

Vista Equity Partners closed its $4.6 billion acquisition of security training platform KnowBe4, Inc. According to Michael Fosnaugh, co-head of Vista’s flagship fund, the acquisition is an opportunity to scale KnowBe4’s business and create value for its product.

Additional reporting by Julia Bischoff.

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


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