💰 Security, Funded #52 - A Hacker-led DAO, growth is the name of the new game, and hey look ma we made it!

Hey there,

I hope you all had a great weekend!

Funding continues to make a rebound but in non-traditional ways this last week. We've got drones and an interesting industry crossover this week is funding for a hacker-led Decentralized Autonomous Organization (DAO) that's focused on fixing bugs in Web3 projects. With week after week of ̶c̶r̶y̶p̶t̶o̶ ̶p̶o̶n̶z̶i̶ ̶s̶c̶h̶e̶m̶e̶s̶ ̶a̶n̶d̶ ̶h̶a̶c̶k̶s̶  projects, all I have to say about this is it's about damn time.

Also - Hey look ma, we made it to one year of writing this newsletter! 🎉🥳🍾

Whether you've just joined recently or have been down since day one, THANK YOU!

I truly enjoy writing this newsletter for you, so please let me know how I can make it better for you in this new year. Let's continue to get this bread, family. 🥖🤝

Side note: should I make a Security, Funded playlist on Spotify? One like and I'll do it...👀

Let's dive in.

💰 Summary

• 9 companies raised $180.9M across 9 unique product categories
• 6 company was acquired or had a merger event for $100.0M

🧩 By Product Category

• $75.0M for Breach & Attack Simulation (BAS)
• $40.2M for Internet of Things (IoT) Security
• $30.0M for Airspace Security
• $25.0M for Secure Networking
• $5.0M for Threat Intelligence
• $3.3M for Cloud Security Posture Management (CSPM)
• $2.0M for Embedded Security
• $414.0K for Threat & Vulnerability Management (TVM)
• An undisclosed amount for Application Security

🗣️ SPONSOR

🏢 By Company

• Bishop Fox, a continuous security validating platform, raised a $75.0M Series B from Carrick Capital Partners. (more)
• Xage Security, a blockchain-protected security platform for the Industrial Internet of Things (IIoT), raised a $40.2M Series B from Piva Capital. (more)
• Dedrone, a cloud-based drone detection and airspace security platform, raised a $30.0M Series C-1 from Axon. (more)
• FORT Robotics, a secure network communication platform for autonomous machines, raised a $25.0M Series B from Tiger Global Management. (more)
• Sentryc, a domain security and brand reputation platform, raised a $5.0M Series A from Seventure Partners. (more)
• Paladin Cloud, a cloud security posture management (CSPM) developer toolkit, raised a $3.3M Seed from Okapi VC and Bowery Capital. (more)
• Emproof, an embedded software security platform, raised a $2.0M Seed from TIIN Capital. (more)
• Melius Cyber, a threat and vulnerability management (TVM) platform, raised a $414.0K Seed from Northeast Venture Fund. (more)
• PwnedNoMore, a hacker-led Decentralized Autonomous Organization (DAO) focused on Web3 security and bug bounties, raised an undisclosed Seed from Alliance DAO. (more)

🤝 Mergers & Acquisitions

• OneWelcome, an identity management platform with a focus on European privacy laws, was acquired by Thales Group for $100.0M. (more)
• Hatching, a malware sandboxing and analysis company, was acquired by Recorded Future for an undisclosed amount. (more)
• Kormoon, a data privacy and compliance company, was acquired by Privitar for an undisclosed amount. (more)
• Outpost24, a professional services company focused on cybersecurity assessments, was acquired by Vitruvian Partners for an undisclosed amount. (more)
• VantagePoint, a cybersecurity advisory professional services firm, was acquired by Crosslake Technologies for an undisclosed amount. (more)
• WatchGuard Technologies, a managed security services provider (MSSP), was acquired by Vector Capital Management for an undisclosed amount. (more)

🔐 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.

Are you currently hiring or looking to hire soon? 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

• Apple Introduces "Lockdown Mode" - Apple intros "extreme" optional protection against the scourge of mercenary spyware.
• What it Takes to be a Cyber Investor - Forgepoint Capital's Alberto Yepez gives his take on what it takes to be a cybersecurity investor in today's climate as a long time managing director Forgepoint and serial entrepreneur.
• Digital Privacy in a Post-Roe World - The use of technology has made it practically impossible for Americans to evade tracking and it's about to get even harder for some people.

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

SANS has always been ahead of the inflation game.

🎉 Enjoying This Newsletter?

👋 Thanks

Have questions, comments, or feedback about this issue? I'd love to hear from you.

Reach out on Twitter or reply directly to the newsletter version of this issue.

Thanks for reading!

Cheers,

Mike P