💰 Security, Funded #60 - The Password Manager Funding Starter Pack™️

The Security, Funded newsletter issue #60 - Global cybersecurity funding and M&A news from the week of September 5th, 2022.

Mike P
Mike P

Table of Contents

Hey there,

I hope you had a great weekend!

A short work week for the US with Labor Day, but lots of action still happened.

To all my friends in the UK, or to anyone who was impacted by Queen Elizabeth II's passing, I am sorry for your loss. 🇬🇧❤️

In this week's issue:

  • Zscaler made a big splash in earnings
  • Funding and acquisition volume is back up
  • The Password Manager Funding Starter Pack™️
The Password Manager Funding Starter Pack™️

Zscaler ($ZS) earnings report dropped this past Thursday and it was a big splash. They had a blowout quarter with 61% YoY revenue growth bringing in $318.1M, beating analysts expectations.

Let's dive in.


📊 Market News

  • Israeli startups raise mega rounds amid recession (more)
  • North America sees hiring jump in medical industry cybersecurity roles (more)
  • Darktrace stock got clapped as deal with Thoma Bravo collapsed (more)

💰 Funding Summary

  • 14 companies raised $419.2M across 12 unique product categories
  • 7 companies were acquired or had a merger event across 3 unique product categories for $1.8M

🧩 Funding by Product Category

  • $100.0M for Identity and Access Management (IAM)
  • $70.0M for Breach & Attack Simulation (BAS)
  • $66.4M for Continuous Compliance
  • $40.0M for Managed Detection and Response (MDR)
  • $40.0M for Cloud Workload Protection Platform (CWPP)
  • $22.0M for Managed Security Services Provider (MSSP)
  • $22.0M for Distributed Ledger Technology (DLT) Security
  • $21.0M for Governance, Risk, and Compliance (GRC)
  • $20.0M for Data Security Posture Management (DSPM)
  • $10.8M for Identity Verification
  • $6.0M for Software Supply Chain Security
  • $1.0M for Application Security

🗣️ SPONSOR

🗣️
Service Providers Wanted - Grow Your Business with GlobalSign PKI Security

Offer Customers PKI Security Solutions for Total Digital Identity Management

Become a GlobalSign partner and enjoy a cybersecurity transformation. We offer automated digital certificates for signatures, email, websites, servers and more. GlobalSign PKI management services can be fully integrated into your existing portfolio. Secure your customers’ online communications, manage millions of verified digital identities, and improve customer experience with our full volume of encryption services.

Become a partner.

🏢 Funding By Company


🤝 Mergers & Acquisitions


🔐 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.

🔥
DataTribe Challenge 2022

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

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!


🧪 Labs


I revamped the referral rewards for the newsletter to include new items and discounts from the Return on Security Shop like this 👇

Oliver Legg on LinkedIn: #cybersecurity #returnonsecurity #securityfunded
We do love some Friday swag at Aspiron Search Thanks for the tee’s Mike Privette and Return on Security 🤟 #cybersecurity #returnonsecurity #securityfunded...
Cybersecurity, but make it fashion

👋 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

newsletter