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  • 💰Security, Funded #66 - an unstoppable force, essential skills, and new funds

💰Security, Funded #66 - an unstoppable force, essential skills, and new funds

Let's secure this bread

Hey there,

I hope you had a great weekend!

In this week's issue:

  • An unstoppable force

  • New cyber-focused venture funds

  • Essentials skills for security leadership

Overall tech company valuations have seen a reduction over the last two quarters and cybersecurity companies have felt a bit of this pain, but there's more here.

On one hand, the cost of working capital has increased making it more expensive to lend and borrow money, private company valuations have decreased, due diligence life cycles have increased, and less early-stage checks have been written this year as compared to last year.

Contrast that with the fact that CIOs and CISOs are stilling seeing their budgets increase for cybersecurity spend or not be affected at all and threats continuing to escalate globally. What do these two opposing facts get you?

An unstoppable force meets an immovable object - cybersecurity spend remains high across the board.

 New CIO survey from @WSJ says that cybersecurity spend is at the top of 2023 budgets pic.twitter.com/JthUe3vUQ8— Mike Privette (@mikepsecuritee) October 23, 2022 

Expect to see more cyber-focused ventures funds and partnership to pop up as capital looks to find unique solutions to their problems with portfolio returns and with reducing corporate risk overall.

Onward to this week's issue.

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Live Q&A with the authors of Black Hat GraphQLGet answers to your questionsDolev Farhi & Nick Aleks, authors of Black Hat GraphQL are joining experts from ThreatX, API protection platform, for a 30-minute Q&A on Nov. 10th at 10 am PT / 1 pm ET. We will be interacting with our audience to answer questions related to:* Attack techniques on REST vs GraphQL* Building defense for modern attacks* Tactics to level up your appsec programRegister now to save your spot

📊 Industry News

  • 33N Ventures launches for investment in cybersecurity and infrastructure companies (more)

  • Banco Santander and Forgepoint Capital announce strategic alliance to advance cybersecurity investments (more)

  • Industrial Cybersecurity Market Expected to Soar in Next Decade (more)

💰 Funding Summary

  • 10 companies raised $105.4M across 8 unique product categories

  • 6 companies were acquired or had a merger event across 4 unique product categories

🧩 Funding by Product Category

  • $50.0M for Data Privacy

  • $15.0M for Fraud and Financial Crime Protection

  • $14.0M for Data Access Governance

  • $10.0M for Security Awareness

  • $10.0M for Network Security

  • $4.2M for Blockchain Security

  • $2.2M for Managed Security Services Provider (MSSP)

  • An undisclosed amount for Data Protection

🏢 Funding By Company

🤝 Mergers & Acquisitions

  • Hardenize, a web-based external attack surface management (EASM) platform, was acquired by Red Sift for an undisclosed amount. (more) (I missed this last week, shoutout to Billy for putting this on my radar 🤝)

  • Blue Jean Networks, a managed services provider (MSP), was acquired by Integris for an undisclosed amount. (more)

  • Dcoya, a security awareness company, was acquired by NINJIO for an undisclosed amount. (more)

  • First Colo, a managed security services provider (MSSP), was acquired by Cube Infrastructure Managers for an undisclosed amount. (more)

  • Security7, a managed security services provider (MSSP), was acquired by Integris for an undisclosed amount. (more)

  • TBG Security, a professional services firm focused on penetration testing and vCISO services, was acquired by J.S. Held for an undisclosed amount. (more)

  • TechMD, a managed services provider (MSP), was acquired by ICS for an undisclosed amount. (more)

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📚 Great Reads

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

 Red Line Through HTTPS https://t.co/tb16qJsOto pic.twitter.com/7VhiMUPszX— Randall Munroe (@xkcd) June 18, 2022 

👋 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!

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Cheers,

Mike P

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