💰 Security, Funded #50 - More layoffs, finding a job like a hacker, and modern problems

Good morning,

Happy Tuesday! The newsletter took a break for the July 4th holiday in the US yesterday, but will be back on the regularly scheduled programming next week.

Same bat time, same bat channel. 🦇🧔🏽‍♂️

I hope you all got some time to rest this weekend whether from a slowing deal market or just taking a vacation.

Deal flow continues to trickle back in while large tech companies continue to make layoffs after raising record breaking funding rounds.

Let's dive in.

💰 Summary

• 11 companies raised $197.0M across 10 unique product categories
• 2 companies were acquired or had a merger event

🧩 By Product Category

• $60.0M for Secure Remote Access
• $50.0M for Professional Services
• $22.0M for Data Security Posture Management (DSPM)
• $22.0M for Confidential Computing
• $13.0M for Passwordless Authentication
• $11.6M for Cyber Insurance
• $8.6M for Threat & Vulnerability Management (TVM)
• $8.0M for Cloud Security
• $1.3M for Data Access Governance
• $500.0K for Data Protection

🗣️ SPONSOR

🏢 By Company

• Cyolo, a zero trust network access (ZTNA) company, raised a $60.0M Series B from National Grid Partners (NGP). (Cyolo)
• OnPoint, a professional services firm providing cybersecurity skills to the federal government, raised a $50.0M Series B from Temasek Holdings. (e27 News)
• Normalyze, a cloud data identification and data posture security platform, raised a $22.0M Series A from Lightspeed Venture Partners and Battery Ventures. (Normalyze)
• Opaque, a confidential computing data encryption and analytics platform, raised a $22.0M Series A from Walden Catalyst. (SiliconANGLE)
• Token, a company that makes a wearable device that uses biometrics for passwordless authentication, raised a $13.0M Series B from Grand Oaks Capital. (Biometric Update)
• Stoïk, a cyber risk insurance company, raised a $11.6M Series A from Andreessen Horowitz. (Alven)
• Inspectiv, a threat and vulnerability management (TVM) platform, raised a $8.6M Series A from StepStone Group. (PR Newswire)
• oak9, a platform that analyzes infrastructure as code (IaC) and builds security into cloud native applications, raised a $8.0M Series A from Menlo Ventures. (oak9)
• Torsion, a data access governance company for document collaboration platforms, raised a $1.3M Venture Round from Bayes Entrepreneurship Fund, Juno Capital Partners, and The FSE Group. (UK Tech News)
• Xiphera, a cryptographic solutions company, raised a $500.0K Seed from Gorilla Capital. (AIN.Capital)
• Code-X, a company securing data at rest and in motion across the entire lifecycle, raised an undisclosed Series B from Sagewind Capital. (Sagewind Capital)

🤝 Mergers & Acquisitions

• Cyber Observer, a cloud security posture management (CSPM) platform, was acquired by XM Cyber for an undisclosed amount estimated at $30.0M. (XMCyber)
• Layer 8 Networks, a professional services firm focused on networked communications and security, was acquired by Advent One for an undisclosed amount. (IT Brief)

🔐 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 - Apply to join the talent collective to get personally matched with high-growth, high-upside opportunities.

Hiring managers - Post standard jobs for FREE or upgrade to a Featured tier to really stand out and hire the best talent from the Return on Security community.

📚 Great Reads & Finds

• The Cybersecurity Skills Gap is Another Instance of Late-stage Capitalism - It’s common to hear that it’s hard to get into cybersecurity, and that this is a problem. That seems to be true, but it’s informative to ask a simple follow-up: A problem for who? h/t Daniel Miessler
• A hackers guide to FINDING cybersecurity jobs - Less conventional ways on how to get your foot in the door or finding your next gig in cybersecurity. h/t Jason Haddix
• 7 Steps to Stronger SaaS Security - Continuous monitoring is key to keeping up with software-as-a-service changes, but that's not all you'll need to get better visibility into your SaaS security.

You can see the full list of curated posts across all issues here, and you can submit an article, post, tweet, or video here and it can show up in the newsletter!

🧪 Labs

Modern problems require modern solutions. Improvise, adapt, overcome.

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Thanks for reading!

Cheers,

Mike