💰 Security, Funded #94 - Cyber Money is Bulking Up💪

A review of cybersecurity funding and industry news from the week of May 15th, 2023.

Hey there,

Happy Monday, and I hope you had a great weekend!

🎯 The Rundown

  • First DPSM company gets acquired

  • Meta gets a mega EU privacy fine

  • Montana tells TikTok to skedaddle

  • A quiet week for earnings

  • SMBs still struggling for cyber talent

  • Cyber funding gets physical

  • 20 companies raised funding, 8 companies acquired

Onward to this week's issue.


Using anonymized data for development and testing environments has become standard practice. Unfortunately, much of that data can still be identified using linkage attacks.

Research shows 87% of Americans can be uniquely identified using only their zip code, gender, and date of birth. As applications continue collecting detailed personal information from consumers, re-identification becomes even more likely.

With simulated attacks, Privacy Dynamics helps CISOs quickly and easily monitor re-identification risk across their organization.

🔮 Earnings Reports 🆕

None to report on from last week, but I’ll be checking out the upcoming calls for Palo Alto, KnowBe4, ZeroFox, and Zscaler coming next week, so stay tuned!

🛞 Industry News Roundup

  • 61% of mid-sized businesses do not have dedicated cybersecurity experts (more)

  • Montana becomes the first US state to ban TikTok (more)

  • Meta is facing a record EU data privacy fine (more)

📅 YTD Funding

A rolling 12-week chart to compare funding each week between 2022 and 2023.

Funding got a huge boost this last week off the back of heavy investment in physical security, which often comes with large rounds. YTD funding is still down ~32%, and YoY funding is down ~37%, even with 20 investments last week.

💰 Funding Summary

  • 20 companies raised $384.0M across 14 unique product categories

  • 8 companies were acquired or had a merger event across 7 unique product categories for $63.5M

🧩 Funding By Product Category

  • $192.0M for Physical Security across 2 deals

  • $81.0M for Blockchain Security across 2 deals

  • $60.0M for Managed Detection and Response (MDR) across 1 deal

  • $23.5M for Software Supply Chain Security across 3 deals

  • $6.0M for Secure Remote Access across 1 deal

  • $6.0M for Data Protection across 1 deal

  • $6.0M for Cyber Insurance across 1 deal

  • $5.5M for Cybersecurity Education & Training across 1 deal

  • $4.0M for Managed Security Services Provider (MSSP) across 3 deals

  • An undisclosed amount for Secure Collaboration and Messaging across 1 deal

  • An undisclosed amount for Internet of Things (IoT) Security across 1 deal

  • An undisclosed amount for Identity and Access Management (IAM) across 1 deal

  • An undisclosed amount for Continuous Compliance across 1 deal

  • An undisclosed amount for Cloud Security Posture Management (CSPM) across 1 deal

🏢 Funding By Company

🌎 Funding By Country

  • $378.0M for United States across 13 deals 🇺🇸

  • $6.0M for Israel across 2 deals 🇮🇱

  • An undisclosed amount for China across 1 deal 🇨 🇰�🇨

  • An undisclosed amount for Ireland across 1 deal 🇮🇪

  • An undisclosed amount for Germany across 1 deal 🇩🇪

  • An undisclosed amount for Chile across 1 deal 🇨🇱 

  • An undisclosed amount for Canada across 1 deal 🇨🇦

🤝 Mergers & Acquisitions

  • Polar Security, an Israel-based data security posture management (DSPM) platform, was acquired by IBM for $60.0M. (more)

  • Cyren, a United States-based cyber threat intelligence and malware detection platform, was acquired by Data443 for $3.5M. (more)

  • Corporate Armor, a United States-based cybersecurity technology and software reseller, was acquired by BlueAlly for an undisclosed amount. (more)

  • CST, a United States-based managed services provider (MSP), was acquired by The 20 MSP for an undisclosed amount. (more)

  • Curity, a Sweden-based API authentication and security platform, was acquired by GRO Capital for an undisclosed amount. (more)

  • Eclectic IQ, a Netherlands-based cyber threat intelligence and hunting platform, was acquired by ReliaQuest for an undisclosed amount. (more)

  • ICCS, a United States-based managed security services provider (MSSP), was acquired by NexusTek for an undisclosed amount. (more)

  • Ion Channel, a United States-based software supply chain security platform, was acquired by Exiger for an undisclosed amount. (more)

📚 Great Reads


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🧪 Labs

OH: "Whats MFA?"

"Multi factor auth"

"oh, I'm used to 2fa. is 2fa like bi and mfa like pan?"

"yes. mfa is the pansexual authentication— Matt Johansen (@mattjay) May 15, 2023 

🤔 Have questions, comments, or feedback? I'd love to hear from you!

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