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Happy Tuesday! The newsletter took a break for the July 4th holiday in the US yesterday, but will be back on the regularly scheduled programming next week.
Same bat time, same bat channel. 🦇🧔🏽♂️
I hope you all got some time to rest this weekend whether from a slowing deal market or just taking a vacation.
Deal flow continues to trickle back in while large tech companies continue to make layoffs after raising record breaking funding rounds.
Let's dive in.
- 11 companies raised $197.0M across 10 unique product categories
- 2 companies were acquired or had a merger event
🧩 By Product Category
- $60.0M for Secure Remote Access
- $50.0M for Professional Services
- $22.0M for Data Security Posture Management (DSPM)
- $22.0M for Confidential Computing
- $13.0M for Passwordless Authentication
- $11.6M for Cyber Insurance
- $8.6M for Threat & Vulnerability Management (TVM)
- $8.0M for Cloud Security
- $1.3M for Data Access Governance
- $500.0K for Data Protection
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🏢 By Company
- Cyolo, a zero trust network access (ZTNA) company, raised a $60.0M Series B from National Grid Partners (NGP). (Cyolo)
- OnPoint, a professional services firm providing cybersecurity skills to the federal government, raised a $50.0M Series B from Temasek Holdings. (e27 News)
- Normalyze, a cloud data identification and data posture security platform, raised a $22.0M Series A from Lightspeed Venture Partners and Battery Ventures. (Normalyze)
- Opaque, a confidential computing data encryption and analytics platform, raised a $22.0M Series A from Walden Catalyst. (SiliconANGLE)
- Token, a company that makes a wearable device that uses biometrics for passwordless authentication, raised a $13.0M Series B from Grand Oaks Capital. (Biometric Update)
- Stoïk, a cyber risk insurance company, raised a $11.6M Series A from Andreessen Horowitz. (Alven)
- Inspectiv, a threat and vulnerability management (TVM) platform, raised a $8.6M Series A from StepStone Group. (PR Newswire)
- oak9, a platform that analyzes infrastructure as code (IaC) and builds security into cloud native applications, raised a $8.0M Series A from Menlo Ventures. (oak9)
- Torsion, a data access governance company for document collaboration platforms, raised a $1.3M Venture Round from Bayes Entrepreneurship Fund, Juno Capital Partners, and The FSE Group. (UK Tech News)
- Xiphera, a cryptographic solutions company, raised a $500.0K Seed from Gorilla Capital. (AIN.Capital)
- Code-X, a company securing data at rest and in motion across the entire lifecycle, raised an undisclosed Series B from Sagewind Capital. (Sagewind Capital)
🤝 Mergers & Acquisitions
- Cyber Observer, a cloud security posture management (CSPM) platform, was acquired by XM Cyber for an undisclosed amount estimated at $30.0M. (XMCyber)
- Layer 8 Networks, a professional services firm focused on networked communications and security, was acquired by Advent One for an undisclosed amount. (IT Brief)
🔐 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 - Apply to join the talent collective to get personally matched with high-growth, high-upside opportunities.
Hiring managers - Post standard jobs for FREE or upgrade to a Featured tier to really stand out and hire the best talent from the Return on Security community.
📚 Great Reads & Finds
- The Cybersecurity Skills Gap is Another Instance of Late-stage Capitalism - It’s common to hear that it’s hard to get into cybersecurity, and that this is a problem. That seems to be true, but it’s informative to ask a simple follow-up: A problem for who? h/t Daniel Miessler
- A hackers guide to FINDING cybersecurity jobs - Less conventional ways on how to get your foot in the door or finding your next gig in cybersecurity. h/t Jason Haddix
- 7 Steps to Stronger SaaS Security - Continuous monitoring is key to keeping up with software-as-a-service changes, but that's not all you'll need to get better visibility into your SaaS security.
Modern problems require modern solutions. Improvise, adapt, overcome.
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Thanks for reading!
A weekly recap of cybersecurity funding and M&A news.