💰 Security, Funded #61 - Uber got breached again and acquisitions are heating up 🔥

Hey there,

I hope you had a great weekend!

In this week's issue:

• Uber got breached, again.
• Acquisitions are ramping back up
• Security, Funded gets a soundtrack

The talk of the weekend - Uber got breached again (they covered up the first one), through a very unsophisticated style of attack by spamming MFA prompts to an IT admin.

No one:
Literally nobody:
Me: OK fine, I'll make a Security, Funded playlist on Spotify

Let me know if you've got any crispy beats to add to this playlist. 😤👊

Let's dive in.

📊 Market News

• Global Automotive Cybersecurity Market to Reach $5.3 Billion by 2026 (more)
• Cybersecurity Funding Review for August 2022 (more)
• EU wants to toughen cybersecurity rules for smart devices (more)

💰 Funding Summary

• 12 companies raised $440.9M across 9 unique product categories
• 8 companies were acquired or had a merger event across 7 unique product categories for $9.5M

🧩 Funding by Product Category

• $230.0M for Physical Security
• $140.4M for Data Protection
• $40.0M for Security Operations
• $10.0M for Security Orchestration and Automated Response (SOAR)
• $6.5M for Network Security
• $5.0M for Professional Services
• $5.0M for Fraud and Financial Crime Protection
• $4.0M for Secure Networking
• An undisclosed amount for Extended Detection and Response (XDR)

🗣️ SPONSOR

🏢 Funding By Company

• Verkada, a cloud-based building security management platform, raised a $205.0M Series D from Linse Capital. (more)
• Fortanix, a cloud data protection platform, raised a $90.0M Series C from GS Growth. (more)
• Cyrebro, a managed security operation center (MSOC) platform, raised a $40.0M Series C from Elaia and Koch Disruptive Technologies. ([]())
• Dig Security, a cloud data detection and response platform, raised a $34.0M Series A from SignalFire. (more)
• Alcatraz AI, a secure building entry and access platform, raised a $25.0M Series A from Almaz Capital. (more)
• Theom, a cloud data protection platform, raised a $16.4M Seed from Ridge Ventures. (more)
• Opus Security, a cloud security orchestration and remediation platform, raised a $10.0M Seed from YL Ventures. (more)
• OneLayer, a mobile network security company for private cellular (LTE/5G) networks, raised a $6.5M Seed from Koch Disruptive Technologies. (more)
• CYBERA, a threat intelligence platform protecting against financial crime, raised a $5.0M Private Equity Round from Converge and New North Ventures. (more)
• Internet 2.0, a professional services company focused on cyber defense and ransomware protection, raised a $5.0M Seed from Bondi Partners and Ellerston Capital. (more)
• dope.security, a secure web gateway (SWG) and networking platform, raised a $4.0M Seed from Boldstart Ventures. (more)
• Fidelis Cybersecurity, an extended detection and response (XDR) platform, raised an undisclosed Private Equity Round from Runway Growth Capital and Skyview Capital. (more)

🤝 Mergers & Acquisitions

• Uplogix, a secure network management platform, was acquired by Lantronix for $8.0M. (more)
• CloudCodes, a cloud access security broker (CASB), was acquired by Plurilock for $1.5M. (more)
• Able-One Systems, a secure web hosting company, was acquired by Quadbridge for an undisclosed amount. (more)
• Cryptosense, a platform that detects cryptography vulnerabilities and misuse in applications, was acquired by SandboxAQ for an undisclosed amount. (more)
• Dark Cubed, a threat and vulnerability management platform for MSSPs, was acquired by Celerium for an undisclosed amount. (more)
• Hitachi ID Systems, an identity governance and management platform, was acquired by Volaris Group for an undisclosed amount. (more)
• MarkMonitor, a brand fraud and abuse monitoring platform, was acquired by Newfold Digital 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.

📚 Great Reads

• Security Pills Newsletter - Fast becoming one of my new favorites, Security Pills is a weekly newsletter that highlights security related news in the blockchain, smart contract, and broader Web3 space.
• CISA announced the Cyber Incident Reporting for Critical Infrastructure Act of 2022 (CIRCIA) - The act requires the Cybersecurity and Infrastructure Security Agency (CISA) to develop and implement regulations requiring covered entities to report to CISA covered cyber incidents and ransom payments.
• Why do security products fail? - While technology has advanced, security is still dealing with the same problems of the past. This begs the question, why is that security products not necessarily successful?

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

👋 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 and see you again next time!

Whenever you're ready, there are a few ways I can help you:

• Get all the data I collect and create to make the newsletter and reports here. 📊
• Work 1:1 with me to evaluate a company or product category here. 🤝
• Sponsor the newsletter to get cybersecurity and investing decision maker eyeballs on your brand here. ✉️

Cheers,

Mike P