💰 Security, Funded #43

Good  morning,

Last week I got to spend time at the Blu Cyber Summit and meet some friends, both old and new. Some people I had been talking to online for 2-3 years and just now got to meet in real life!

I also got the chance to see some up-and-coming cybersecurity companies and hear about the funding landscape as a whole, which was really fun for me. 🤓

Big shout out to the Blu Ventures team for putting on this well-done event! 👏

Email Security led the way with two investments making up over 50% of last week's total, with DFIR taking a commanding second place.

Let's dive in.

💰 Summary

• 16 companies raised $615.3M across 11 unique product categories
• 3 companies were acquired or had a merger event

🧩 By Product Category

• $310.0M for Email Security
• $170.0M for Digital Forensics and Incident Response (DFIR)
• $47.7M for Secure Messaging
• $35.6M for Data Protection
• $20.7M for Application Security
• $8.5M for Internet of Things (IoT) Security
• $6.0M for Security Operations
• $5.8M for Identity and Access Management (IAM)
• $4.6M for Software Supply Chain Security
• $4.0M for Personal Cybersecurity
• $2.5M for Privacy

🗣 SPONSOR

🏢 By Company

• Abnormal Security, an email security company, raised a $210.0M Series C from Insight Partners.
• Chainalysis, a crypto and blockchain investigation and forensics firm, raised a $170.0M Series F from GIC.
• Material Security, a platform that protects email accounts even after they’re compromised or harmful messages get through, raised a $100.0M Series C from Andreessen Horowitz.
• VIDA, a digital signature and secure messaging platform, raised a $47.7M Series A from Hedosophia.
• Casa, a Bitcoin secure key management platform, raised a $21.0M Series A from Acrew Capital, Positive Sum Ventures, and Naval Ravikant.
• StackHawk, an application security platform, raised a $20.7M Series B from Costanoa Ventures and Sapphire Ventures.
• Concentric AI, an inventory and risk management platform for unstructured data, raised a $14.5M Series A from Ballistic Ventures.
• devOcean Security, a cloud threat aggregation platform for security operations teams, raised a $6.0M Seed from private individual investors.
• Xage Security, a blockchain-protected security platform for the Industrial Internet of Things (IIoT), raised a $6.0M Series B from Overture VC and SCF Partners.
• BalkanID, an identity governance and management platform, raised a $5.8M Seed from Afore Capital.
• Socket, a supply chain software security platform, raised a $4.6M Seed from Village Global and Unusual Ventures.
• Sunday Security, a personal cybersecurity platform for corporate executives and high net worth individuals, raised a $4.0M Seed from MoreVC.
• Barbara IoT, an Internet of Things (IoT) security platform, raised a $2.5M Seed from Caixa Capital Risc.
• Kertos, a data privacy platform, raised a $2.5M Seed from 10X Founders.
• SylLab Systems, a cryptography-as-a-service (CaaS) platform, raised a $75.0K Grant from Virginia Innovation Partnership Corporation.
• Netz Beweis, a digital forensics tool for websites, raised an undisclosed Venture Round.

🤝 Mergers & Acquisitions

• Accelerate, a managed services provider (MSP), was acquired by The Purple Guys for an undisclosed amount.
• CyberPeak Solutions, a managed security services provider (MSSP), was acquired by UNS for an undisclosed amount.
• nClouds, a professional services firm focused on DevSecOps and cloud security, was acquired by Charles Thayne Capital for an undisclosed amount.

🔐 Secure The Job

If you're looking for new opportunities (actively or passively), I've got two ways to help:

• Return on Security Job Board - Browse the jobs I curate each week and apply for what matches your interests.
• Return on Security Talent Collective - Join the talent collective to get personally matched with high-growth, high-upside opportunities. This is invite-only, curated by me, and you can set your profile to be public or anonymous.

Search firms, recruiters, and hiring managers - hire the best talent from the Return on Security community by signing up here.

📚 Great Reads & Finds

• It’s Our Moral Obligation to Make Data More Accessible - From Ben Winokur - This article by Auren Hoffman is the cleanest public distillation of the case for privacy technology as the skeleton key to unlocking the value of the world's data. It speaks clearly and with conviction about the problem of siloed, hidden data and the potential benefits of unlocking it.
• A Lesson from the Okta Incident: Scaling Purple Teaming for Better Controls Validation - Jake Williams shared his personal take on how Okta responded to their latest breach.
• 11 Email Security Issues 'Series A' Founders Make - an atomic essay from NamoSec on her experiences working at young startups, the email security mistakes they make, and what they should be doing instead.

🧪 Labs

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Thanks for reading!

Cheers,

Mike P