๐Ÿ’ฐ Security, Funded #42

The Security, Funded newsletter issue #42 - Cybersecurity funding and M&A news from the week of May 2nd, 2022.

Mike P
Mike P

Table of Contents

Good ย morning,

I hope you had a great weekend!

Application security and secure remote access led the way last week on the funding side.

Given that remote work is here to stay and that software security has become increasingly important (itโ€™s always been important, but weโ€™re just seeing funding start to catch up), we can expect these trends to continue dominating the second half of 2022.

This week I'll be at the Blu Cyber Security Summit possibly handing out Security, Funded stickers. ๐Ÿ‘€

Let's dive into May ๐Ÿ’ฆ

You already know what it is

Funding by product category

๐Ÿ’ฐ Summary

  • 16 companies raised $747.3M across 12 unique product categories
  • 6 companies were acquired or had a merger event for $52.0M

๐Ÿงฉ By Product Category

  • $209.0M for Secure Remote Access
  • $196.0M for Mobile Device Security
  • $150.0M for Application Security
  • $63.0M for Security Analytics
  • $60.0M for Cloud Security
  • $30.0M for Identity and Access Management (IAM)
  • $15.0M for Software Supply Chain Security
  • $13.0M for Secure Networking
  • $9.0M for IT Asset Management (ITAM)
  • $2.0M for Anti-Bot
  • $250.0K for Security Operations
  • An undisclosed amount for Managed Services Provider (MSP)

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๐Ÿข By Company

  • Mosyle, a mobile device management (MDM) platform for Apple devices, raised a $196.0M Series B from Insight Partners.
  • Teleport, a platform that creates unified remote access to internet resources via ephemeral certificates, raised a $110.0M Series C from Bessemer Venture Partners.
  • Tailscale, a zero-trust network access (ZTNA) platform, raised a $99.0M Series B from CRV and Insight Partners.
  • Coherent, a platform that lets you centralize, audit, and secure business logic, raised a $75.0M Series B from Maverick Capital.
  • Edge Delta, a security analytics and observability platform, raised a $63.0M Series B from Quiet Capital.
  • Traceable AI, a cloud security platform, raised a $60.0M Series B from IVP.
  • Lumos, an identity and access management (IAM) and identity governance platform, raised a $30.0M Venture Round from Andreessen Horowitz.
  • ShiftLeft, a code security platform, raised a $29.0M Series C from SYN Ventures, Blackstone Innovation Investments.
  • autoRABIT, a code security platform for Salesforce development, raised a $26.0M Series B from Full In Partners.
  • Graphite, an open-source code security platform, raised a $20.0M Series A from Andreessen Horowitz.
  • Phylum, a DevSecOps platform for software supply chain security, raised a $15.0M Series A from ClearSky.
  • Network Perception, a secure networking and configuration management platform, raised a $13.0M Series A from The Westly Group.
  • Hubble Technology, an IT asset management platform, raised a $9.0M Seed from Paladin Capital Group.
  • CHEQ, an anti-bot and machine identity protection platform, raised a $2.0M Venture Round from Semantic Ventures, Firstminute Capital, and Connect Ventures.
  • Salem Cyber, a security operations center (SOC) AI assistant, raised a $250.0K Seed.
  • Brama Systems, a managed services provider (MSP), raised an undisclosed Venture Round from TIIN Capital.

๐Ÿค Mergers & Acquisitions


๐Ÿ” 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 - Join the talent collective to get personally matched with high-growth, high-upside opportunities. This is invite-only, curated by me, and you can set your profile to be public or anonymous.

Search firms, recruiters, and hiring managers - hire the best talent from the Return on Security community by signing up here.


๐Ÿ“š Great Reads & Finds


๐Ÿงช Labs

There is nuance and complexity in life as in art ๐ŸคŒ๐ŸŽจ


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๐Ÿ‘‹ 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!

Cheers,

Mike P

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