💰Security, Funded #56 - The "SaaSacre" and cloud trends, a summary of market movers in July, and why SSH keys alone won't cut it anymore

Hey there,

I hope you had a great weekend!

If you got the chance to attend BlackHat or DEF CON (Hacker Summer Camp) last week, I hope you had an amazing and safe time!

We've got one of the smallest weeks of the year to date in terms of overall funding amounts (from public data sources), but there continues to be a trend on betting on the data.

SaaS security and an up-and-coming category, Data Security Posture Management (DSPM) – think next gen data loss prevention, data classification, and CASB rolled into one – are making waves this year.

Let's dive in.

💰 Summary

• 11 companies raised $97.4M across 10 unique product categories
• 4 companies were acquired or had a merger event

🧩 By Product Category

• $40.0M for Data Security Posture Management (DSPM)
• $24.6M for Secure Collaboration and Messaging
• $16.0M for SaaS Security
• $6.0M for Privacy
• $4.5M for Attack Surface Management (ASM)
• $4.0M for Secure Remote Access
• $2.3M for Email Security
• An undisclosed amount for Threat Intelligence
• An undisclosed amount for Managed Services Provider (MSP)
• An undisclosed amount for Internet of Things (IoT) Security

🗣️ SPONSOR

🏢 By Company

• Nightfall AI, a cloud data security posture management (DSPM) platform, raised a $40.0M Series B from WestBridge Capital. (more)
• Wire, an encrypted messaging app, raised a $24.0M Series C from Cipio Partners and Iconical. (more)
• Spin Technology, a SaaS data protection platform, raised a $16.0M Series A from Blueprint Equity. (more)
• Privya, a code-driven data privacy management platform, raised a $6.0M Seed from Hyperwise Ventures. (more)
• Mesh Security, a cyber asset attack surface management (CAASM) platform focused on zero-trust principles, raised a $4.5M Seed from Booster Ventures. (more)
• Safe-T, a secure remote access platform, raised $4.0M Post-IPO Equity. (more)
• EasyDMARC, an email security platform, raised a $2.3M Seed from Acrobator Ventures. (more)
• AppOmni, a SaaS security management solution, raised an undisclosed Private Equity Round from Cisco Investments. (more)
• CyberOwl, a cybersecurity analytics platform for maritime Internet of Things (IoT) assets, raised an undisclosed Venture Round from Brookstreet Equity Partners.
• ITsavvy, a managed services provider (MSP), raised an undisclosed Private Equity Round from GenNx360 Capital Partners. (more)
• Kaduu, a cyber threat intelligence company, raised an undisclosed Seed from Spicehaus Partners. (more)

🤝 Mergers & Acquisitions

• Guardian, a mobile security and data privacy iOS app, was acquired by DNSFilter for an undisclosed amount. (more)
• INTELITECHS, a managed security services provider (MSSP), was acquired by Nexus IT Consultants for an undisclosed amount. (more)
• Lucid Networks, a professional cybersecurity consulting company, was acquired by WeDo for an undisclosed amount. (more)
• Unity Technology Solutions, a managed services provider (MSP), was acquired by Ekco 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 - If you're open to hearing about new opportunities, apply to my talent collective to get personally matched with high-growth, high-upside opportunities. You can join publicly or anonymously, and leave anytime. And it's completely free for candidates.

Are you hiring? Post a role or request access to start meeting world class candidates open to new opportunities. Learn more or request access here.

📆 Special Events

📚 Great Reads & Finds

• Infosec Startup Buzzword Bingo: 2022 Edition - Kelly Shortridge surveyed 100 infosec companies’ websites, the vast majority of which are startups who raised VC funding in the past nine to twelve months.
• State of the Cloud 2022 - Bessemer Venture Partners uncovers the year’s top trends and insights in the global cloud economy, including how the model is only getting better, and why being a "Centaur" is the new milestone to celebrate.
• Cybersecurity Funding Review - July 2022 - Cybersecurity Funding Review - I take a lookback at what moved the cybersecurity market in July 2022 by the numbers with my own anecdotes.

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

The read receipts are coming from inside the app! 😱

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Thanks for reading!

Cheers,

Mike P