💰 Security, Funded #48 - Rates Only Go Up and to the Right, Valuations Only Go Down and to the Left

Good morning,

A predictably slow week following on the heels of the RSA Conference this year, but that doesn't mean there's no action.

Broader economic trends of rising inflation, the beginning of a series of Federal Funds rate hikes, and tech companies d0ing rounds of layoffs have created a tightening environment for fund raising for startups and established companies alike.

Those who are raising funds should expect increased due diligence periods and less frothy valuations, but there are still a lot of funds to capture out there.

Let's dive in.

💰 Summary

11 companies raised $146.5M across 9 unique product categories
6 companies were acquired or had a merger event

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🏢 By Company

LiveView Technologies, a physical security software and hardware company, raised a $50.0M Series B from Sorenson Capital. (FinSMES)
Jit, a developer-focused application security platform, raised a $38.5M Seed from Boldstart Ventures. (CTech)
GreyNoise Intelligence, a threat intelligence platform, raised a $15.0M Series A from Radian Capital. (TechCrunch)
CyberConIQ, a security awareness training platform, raised a $11.0M Venture Round.
RapidFort, an attack surface management (ASM) company, raised a $8.5M Seed from Felicis Ventures. (TechCrunch)
Quickpass, a privileged access management (PAM) platform for managed service providers (MSPs), raised a $7.0M Series A from Arthur Ventures. (Yahoo)
BBT.live, a secure access service edge (SASE) platform, raised a $6.8M Seed from [Tzvi Neta Holdings](). (PR Newswire)
evolutionQ, a platform for managing quantum devices and networks, raised a $5.5M Series A from Quantonation. (evolutionQ)
Kriptos, a data identification and classification platform, raised a $3.1M Venture Round from Act One Ventures. (Contxto)
Bunkyr, an encrypted cryptocurrency wallet account recovery platform, raised a $1.0M Pre-Seed from Soma Capitaland Y Combinator. (Bunkyr)

🤝 Mergers & Acquisitions

CeroUno, a professional services firm, was acquired by Revelo for an undisclosed amount. (BusinessWire)
Miburo, a cyber threat intelligence and response company, was acquired by Microsoft for an undisclosed amount. (Built In Seattle)
New Access S.A, a managed security services provider (MSSP), was acquired by EdgeUno for an undisclosed amount. (Capacity)
PrivateVPN, a consumer virtual private network (VPN) platform, was acquired by Miss Group for an undisclosed amount. (Cision)
Randori, an attack surface management (ASM) company, was acquired by IBM for an undisclosed amount. (ITPro)
The Guardian Eagle, a database security company, was acquired by Centroid Systems for an undisclosed amount. (Security Week)

🔐 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

The Philosophy of Prevention - Chris Farris talks about the pit-falls of cloud security posture management (CSPM) and how the art and science behind taking a preventative approach to cloud security is harder than you think.
Top Ten Security Tips for APIs - APIs are being attacked by bots all the time, being abused all over the internet. Even without a front end, APIs are still a big target for malicious actors. How do we fight this? In this talk WeHackPurple covers all the best practices for making your APIs tough and safe.
How Cloud Security Has Changed in the Age of COVID-19 - The COVID-19 pandemic has accelerated the migration to the cloud for many organizations, and there have also been challenges associated with securing hybrid or multi-cloud environments, according to Omdia Senior Principal Analyst Fernando Montenegro.

🧪 Labs

POV: You work in cybersecurity and just went to the RSA or Gartner security conferences and you're trying to make sense of what you just saw

Fellas: if she

- Is constantly changing what’s she’s called

- Is saying new terms that don’t make sense

- Has analysts constantly talking her up

- Makes your buying experience a living hell

That’s not your girl, that’s another cybersecurity product category from Gartner— Mike Privette (@mikepsecuritee) February 10, 2022

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👋 Thanks

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Thanks for reading!

Cheers,

Mike P