Happy Monday, and I hope you had a great weekend!
In this week's issue:
US Intelligence Leak
More AI Has Entered the Chat
The US Fed expects there to be a “mild recession” thanks to the most recent global banking turmoil, Montana bans TikTok (and all 5 teenagers there think this is “mad sus”), Amazon finally shows up to the generative AI party, Elon Musk quietly started his own AI company named “X.AI Corp,” and another major US intelligence leak.
It’s a short opener today because there were no earnings reports or recaps worth noting for this week!
Onward to this week's issue.
Don’t waste time on security scavenger hunts. With pre-mapped controls and over 75 integrations to your tech stack, Drata automates the compliance process.Drata supports 14 frameworks, including SOC2, ISO 27001, HIPAA, and GDPR, so your team can scale security without duplicating work. Best of all, you get real-time visibility into your risk levels with powerful dashboards and alerts.
Have to see it to believe it?
Industry News Roundup
📅 YTD Funding
A rolling 12-week chart to compare funding each week between 2022 and 2023.
Cybersecurity funding in the first two weeks of Q2 2023 are remaining very consistent YoY. Let's see if there is a spike over the next few weeks, thanks to the start of the summer conference season.
💰 Funding Summary
11 companies raised $184.0M across 9 unique product categories
2 companies were acquired or had a merger event across 2 unique product categories
🧩 Funding By Product Category
$139.8M for Fraud and Financial Crime Protection across 3 deals
$20.1M for Open-Source Intelligence (OSINT) across 1 deal
$11.5M for Identity and Access Management (IAM) across 1 deal
$5.5M for Data Privacy across 1 deal
$5.5M for Attack Surface Management (ASM) across 1 deal
$1.6M for Managed Security Services Provider (MSSP) across 1 deal
An undisclosed amount for Personal Cybersecurity across 1 deal
An undisclosed amount for Identity Threat Detection and Response (ITDR) across 1 deal
An undisclosed amount for Cloud Security Posture Management (CSPM) across 1 deal
🏢 Funding By Company
BlackfishID, a Spain-based personal cybersecurity platform focused on protecting online identities, raised an undisclosed Pre-Seed.
StrikeOne, a Chile-based cloud security posture management (CSPM), raised an undisclosed Seed.
🌎 Funding By Country
$152.0M for United States across 6 deals 🇺🇸
$20.1M for Australia across 1 deal 🇦🇺
$5.5M for Singapore across 1 deal 🇸🇬
$5.4M for Ireland across 1 deal 🇮🇪
$1.6M for France across 1 deal 🇫🇷
An undisclosed amount for Spain 🇪🇸
An undisclosed amount for Chile 🇨🇱
🤝 Mergers & Acquisitions
📚 Great Reads
Why Cybersecurity IS National Security - A post I helped write in collaboration with TFX Capital - Cybersecurity is important for protecting personal information and safeguarding a nation's critical infrastructure, economy, and public safety.
Security-by-Design and -Default - CISA, the FBI, the NSA, and the cybersecurity authorities of several governments jointly developed Shifting the Balance of Cybersecurity Risk: Principles and Approaches for Security-by-Design and -Default.
Americans now fear cyberattack more than nuclear attack - Americans are more likely to regard cyberterrorism as a “critical threat” to U.S. vital interests than to say this about 10 other international matters. The development of nuclear weapons by Iran or by North Korea places second and third in Americans’ mentions of critical threats in the latest poll.
🐝 Cross Pollinate
Discover something 🆕 this week.
Check out the Friday Tech News newsletter for updates on the broader tech world.
Security is hard enough. Privacy doesn’t have to be.
Security experts know privacy is more than policies on one hand and encryption on the other. Our library of Privacy Objects strengthens the partnership between security and privacy by translating legal requirements into agile user stories with actionable implementation guidance for engineers.
"This one weird trick..." 🤔
🤔 Have questions, comments, or feedback? I'd love to hear from you!
🔥 Security, Funded is brought to you by Return on Security.
🤝 Want to partner with Security, Funded? Learn more here.
🐝 If you run a newsletter, I can't recommend Beehiiv enough.