💰 Security, Funded #77 - Funding Is Down, Thoma Bravo's Still Got It, and Threat and Risk Prioritization
Let's acquire this bread, family.
I hope you had a great weekend!
In this week's issue:
Funding Is Down
Thoma Bravo's Still Got It
Threat and Risk Prioritization
Thoma Bravo is at it again buying more cybersecurity companies, T-Mobile got hacked (yet again), the UK Royal Mail suffered a cyber attack, overall funding activity continues to be down, and more than 55K tech workers have been laid off this year (2023!) alone.
While overall funding volume is down, particularly in the US these past few weeks, Thoma Bravo's still got it with Yet Another Private Equity Leveraged Buyout (YAPELB™️) of a cybersecurity firm (details below).
The year of private equity has begun, and many believe that we will see even more strategic cybersecurity rollups and consolidations from the mountain of capital sitting behind the PE giants like Thoma Bravo.
Every time Thoma Bravo makes a cybersecurity acquisition I am inclined to repost this Tweet:
Video source for context: Living Dead Girl by Rob Zombie
Who here can help me get this retweeted by @thomabravo account on Twitter? 🧐
Also, shoutout to my friends over at RankedRight who got acquired this past week (details below)! These guys were very early supporters of Return On Security even before the Security, Funded newsletter started and that early support meant the world to me! I'm "absolutely chuffed" (as they say) that they made an exit. 👏
It's rare these days in cybersecurity that you see a company solving an old problem in a unique way, but that is exactly what I saw with RankedRight. For the folks following along at home, I called out that platforms that help you have a more "threat-informed" and effort-to-value approach to your cybersecurity program would be important in 2023. I think this is just one example of many for this evolving space.
Onward to this week's issue.
ISO 27001:2022 — What’s changed, and what it means for your businessWhether you have ISO 27001 and want to learn more about these updates, or are pursuing ISO for the first time, this webinar is for you.ISO 27001. It’s the international gold standard for information security management. It proves the strength of your security posture to prospects and customers in global markets. In late 2022, ISO 27001 rolled out changes to the Annex A controls, minor updates to the clause language, modernized controls, as well as 12 new controls. Join the webinar on Feb 1 with security experts from Vanta and Insight Assurance to dive into these changes and what they mean for your businessRegister to save your spot
📊 Industry News
💰 Funding Summary
7 companies raised $49.7M across 7 unique productcategories
8 companies were acquired or had a merger event across 7 unique product categories for $1.3B
🧩 Funding by Product Category
$17.0M for Fraud and Financial Crime Protection
$15.0M for Professional Services
$10.5M for Secure Access Service Edge (SASE)
$5.0M for Business Continuity / Disaster Recovery
$2.2M for Application Security Testing (AST)
An undisclosed amount for Secure Networking
An undisclosed amount for Secure Infrastructure
🏢 Funding By Company
Nucleus, a United States-based secure composable infrastructure building blocks for microservices platform, raised an undisclosed Pre-Seed from Lombardstreet Ventures, Soma Capital, and Y Combinator. (more)
🌎 Funding By Country
$22.0M for Israel 🇮🇱
$15.0M for Singapore 🇸🇬
$10.5M for United States 🇺🇸
$2.2M for Belgium 🇧🇪
An undisclosed amount for China 🇨🇳
🤝 Mergers & Acquisitions
Don't forget, if you've been following along for a while, I've spun off the jobs section that was previously in this newsletter and made it a separate newsletter that you can find here:
📚 Great Reads
A retrospective on public cloud breaches of 2022 - Rami McCarthy and Houston Hopkins look back on the cloud data breaches that were publicly disclosed in 2022, specifically focusing on breaches of companies using large cloud providers like AWS, Azure, and Google Cloud.
Cyber Insurance Themes to Look Out for in 2023 - The dawn of a New Year provides a great opportunity to pause and consider where the cyber insurance industry is heading in 2023.
Understanding Why Israel Produces So Many Cybersecurity Companies - Nowhere is the entrepreneurial spirit better demonstrated than in the quantity and quality of contemporary cybersecurity firms that have come from Israel.
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🤔 Have questions, comments, or feedback? I'd love to hear from you!
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