💰Security, Funded #55 - Thoma Bravo is at it again, another browser isolation company hits it big, and the first cyber IPO of 2022

Hey there,

I hope you had a great weekend!

ZeroFox is the first cybersecurity company to go public in 2022 after it completed the acquisition of IDX, a consumer privacy company. Last year cybersecurity companies had a breakout year, and while this year has started very differently than 2021, there are still big bets being made in the cybersecurity space.

Let's dive in.

💰 Summary

• 13 companies raised $291.2M across 10 unique product categories

• 6 companies were acquired or had a merger event for $2.8B

🧩 By Product Category

• $100.0M for Remote Browser Isolation

• $61.2M for Identity Verification

• $32.0M for Data Security Posture Management (DSPM)

• $25.0M for Cybersecurity Education & Training

• $23.0M for Managed Security Services Provider (MSSP)

• $20.0M for Continuous Compliance

• $15.0M for Application Security

• $8.0M for Threat Intelligence

• $7.0M for Secure Collaboration and Messaging

• An undisclosed amount for Secure Networking

🗣️ SPONSOR

🗣️

Event: Opkalla Tech Summit 2022Featuring keynote speaker Greg van der GaastDon’t miss out on October 6! Opkalla's Tech Summit, with a focus on cybersecurity, is happening at the U.S. National Whitewater Center in Charlotte. Expect half a day of cutting edge discussions centered around cybersecurity, with the second half reserved for enjoying all the outdoor adventures the Whitewater Center has to offer. This event is for you if you manage or execute on cybersecurity initiatives within your organization.Register here with code SecurityFunded for half off your ticket.

🏢 By Company

• Talon Cyber Security, a remote browser isolation platform, raised a $100.0M Series A from Evolution Equity Partners. (more)

• IDnow, an identity verification platform, raised a $61.0M Debt Financing Round from BlackRock. (more)

• Cybrary, a hands-on cybersecurity training and education platform, raised a $25.0M Series C from BuildGroupandGula Tech Adventures. (more)

• Axio, a managed security services provider (MSSP), raised a $23.0M Series B from ISTARI.

• Normalyze, a cloud data identification and data posture security platform, raised a $22.0M Series A from Lightspeed Venture Partners and Battery Ventures. (more)

• ​​RegScale, a compliance automation platform focused primarily on the public sector, raised a $20.0M Series A from SYN Ventures. (more)

• Ghost Security, an application security platform, raised a $15.0M from 468 Capital, DNX Ventures, Munich Re Ventures, and Tau Ventures. (more)

• Flow Security, a data security platform that categorizes and protects data-in-motion, raised a $10.0M Seed from Amiti Ventures. (more)

• Lumu, a threat intelligence platform using DNS to determine potential compromises, raised a $8.0M Venture Round from Panoramic Ventures. (more)

• Comm Technologies, an encrypted chat platform for Web3 applications, raised a $7.0M Venture Round.

• Alkira, a secure cloud networking company, raised an undisclosed Venture Round from LIAN Group. (more)

• Faceki, a customer identity verification platform using biometrics and AI, raised an undisclosed Seed from Tenmou. (more)

• Footprint, a customer identity verification platform, raised an undisclosed Seed.

🤝 Mergers & Acquisitions

• Ping Identity, a platform with a suite of identity and access management (IAM) capabilities, was acquired by Thoma Bravo for $2.8B. (more)

• Convexum, an airspace security company protecting against malicious drones, was acquired by Berkeley Research Group for $29.0M. (more)

• ATvanGarde, a professional services company focused on vulnerability assessments and penetration testing., was acquired by Nettitude for an undisclosed amount. (more)

• IDX, a consumer digital privacy platform, was acquired by ZeroFox for an undisclosed amount. (more)

• Infoit, a professional cybersecurity services firm, was acquired by Netskope for an undisclosed amount. (more)

• ThirdPartyTrust, a third-party vendor management platform, was acquired by BitSight 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.

📆 Special Events

🔥

DataTribe Challenge 2022What could your company do with $2 Million?The DataTribe Challenge is a unique annual competition that brings together the best entrepreneurs in the world looking to disrupt cybersecurity and data science. DataTribe selects three finalists that split $20,000 in prize money and one winner that could receive up to $2 million in seed capital.Enter your submission.

📚 Great Reads & Finds

• fwd:cloudsec 2022 - all the recorded sessions from this year’s fwd:cloudsec cloud security conference put on by Scott Piper.

• Amazon Ring gave police data without user consent - Amazon finally admits giving cops Ring doorbell data without user consent and it's happened 11 times (that we know of) already in 2022.

• The Consumer Authentication Strength Maturity Model (CASMM) - A visual guide on how to measure the strengths and gaps of the consumer/customer authentication models.

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

🎵 Too bad that you couldn't seeSee the [company] that [startup] could beThere is more that meets the eyeI see the [competitive edge] that is inside 🎵

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👋 Thanks

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Thanks for reading!

Cheers,

Mike P