💰 Security, Funded #57 - Web3 security, OT funding, and CISOs
The Security, Funded newsletter issue #57 - Global cybersecurity funding and M&A news from the week of August 15th, 2022.
Table of Contents
I hope you had a great weekend!
We're back up this week with nearly double the amount of funding as last week.
In this week's issue:
- More funding goes towards Web3
- We're in an Operational Technology (OT) security era
- Pay for CISOs continues to go up even with breaches still happening
Also, I'm testing out a new simple shirt design. Let me know on Twitter if you like it?
Let's dive in.
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Know what and who is moving the cybersecurity.
- 14 companies raised $181.1M across 12 unique product categories
- 4 companies were acquired or had a merger event across 3 unique product categories
🧩 Funding by Product Category
- $83.0M for Operational Technology (OT) Security
- $37.5M for Privacy
- $30.0M for API Security
- $10.0M for Email Security
- $7.0M for Distributed Ledger Technology (DLT) Security
- $5.0M for Blockchain Security
- $3.4M for Managed Security Services Provider (MSSP)
- $3.3M for Identity and Access Management (IAM)
- $2.0M for Cyber Insurance
- An undisclosed amount for Identity Verification
- An undisclosed amount for Data Protection
- An undisclosed amount for Cybersecurity Education & Training
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Read the datasheet.
🏢 By Company
- TXOne Networks, an industrial internet of things (IIoT) security company, raised a $70.0M Series B from TGVest Capital. (more)
- Modulate, a privacy focused voice communication moderation and safety platform, raised a $30.0M Series A from Lakestar. (more)
- ThreatX, a managed web application and API security platform, raised a $30.0M Series B from Harbert Growth Partners. (more)
- SynSaber, an industrial controls systems asset and network security monitoring solution, raised a $13.0M Series A from SYN Ventures. (more)
- Paubox, a Health Insurance Portability and Accountability (HIPAA) compliant email security platform, raised a $10.0M Series B from Arthur Ventures. (more)
- Biza, a consumer data privacy right management platform, raised a $7.5M Series A from Jelix Ventures and Our Innovation Fund. (more)
- Safeheron, a data protection platform for Web3 projects, raised a $7.0M Seed from Yunqi Partners. (more)
- dWallet Labs, a blockchain security company, raised a $5.0M Pre-Seed from Digital Currency Group and Node Capital. (more)
- Defendify, a managed security services provider (MSSP), raised a $3.4M Venture Round from Maine Venture Fund. (more)
- Aceiss, an identity privilege and access monitoring platform, raised a $3.3M Seed from Canaan.
- Coinnect, a cyber risk insurance company, raised a $2.0M Seed.
- CyberServal, a data security platform, raised an undisclosed Series A from Shenzhenshi Honghua Ziben Guanli Youxian Gongsi.
- Faceki, a customer identity verification platform using biometrics and AI, raised an undisclosed Seed from Nama Ventures and Tenmou. (more)
- Hook Security, a cybersecurity training company introducing Psychological Security to the outdated Security Awareness Training industry, raised an undisclosed Series A from Tampa Bay WaVE. (more)
🤝 Mergers & Acquisitions
- Breeze Networks, a managed services provider (MSP), was acquired by Expereo for an undisclosed amount. (more)
- GrayMatter Systems, a professional services firm focused on industrial internet of things (IIoT) security, merged with HTSE for an undisclosed amount. (more)
- ManageYOURiD, a data rights management and privacy platform, was acquired by System High Corporation for an undisclosed amount. (more)
- SWAT Systems, a managed services provider (MSP), was acquired by Convergence Networks for an undisclosed amount. (more)
🔐 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 - If you're open to hearing about new opportunities, apply to my talent collective to get personally matched with high-growth, high-upside opportunities. You can join publicly or anonymously, and leave anytime. And it's completely free for candidates.
Are you hiring? Post a role or request access to start meeting world class candidates open to new opportunities. Learn more or request access here.
📆 Special Events
I'm on the CISO advisory board for DataTribe and they are a top-notch group, so you won't want to miss this if you're raising funds.
What could your company do with $2 Million?
The DataTribe Challenge is a unique annual competition that brings together the best entrepreneurs in the world looking to disrupt cybersecurity and data science. DataTribe selects three finalists that split $20,000 in prize money and one winner that could receive up to $2 million in seed capital.
Submissions Due: September 23rd, 2022. Enter here.
📚 Great Reads & Finds
- 2022 Global Chief Information Security Officer (CISO) Survey - a survey of global chief information security officers providing s a deep look into organizational and compensation data from CISOs around the world and further insights into those in the United States, United Kingdom, and Germany.
- Bitcoin Mixers Are Busier Than Ever in 2022 - The largest address type sending crypto to mixers this year is cybercriminals and sanctioned nation states, according to Chainalysis.
- Stalkers, Sock Puppets, and Security - Cassie Brunetto wrote this piece to highlight information security best practices and techniques that can help protect against online threat actors and stalkers.
You can see the full list of curated posts across all issues here, and you can submit an article, post, tweet, or video here and it can show up in the newsletter!
This is an ultra-niche meme newsletter now (j/k)
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!