๐Ÿฅ‚ Security, Funded #74 - Strong Finish, 2023 Predictions, and 2022 Year in Review

The Security, Funded newsletter issue #74 - the business of global cybersecurity funding and M&A news from the final three weeks of December 2022.

Mike P
Mike P

Table of Contents

Hey there,

Welcome to 2023! I hope you had an excellent holiday season if you celebrated and a Happy New Year!

In this week's issue:

  • Strong Finish
  • 2023 Predictions
  • 2022 Year In Review

I'll keep this light since we're just getting the year started off.

This week's issue will be a bit different than other weeks in that I will be covering a longer time period than normal. This issue will cover the final three weeks of December and how the year rounded out.

December 2022 in the cybersecurity industry had a similarly strong finish to December 2021, with several late-in-the-game funding rounds. There was a healthy mix of later-stage venture funding, debt financing rounds, and stealth launches with fresh seed rounds.

The later-stage ventures will bolster startups' cash flow to weather the macroeconomic storms carrying over into much of 2023, and the seed-stage deals will get the chance to build and grow on a less-than-ideal foundation. Those new startups that can find product market fit and traction in this environment will create operationally strong companies that will grow for years to come.

In case you missed it last week, I put out my first annual report called The State of Cybersecurity in 2022 and Trends and Predictions for 2023. It covers my observations from 2022 and makes some big predictions for what 2023 might hold from a market and innovation standpoint.

Also, don't forget that you're just one referral away from getting access to an Airtable database with all the curated links from every issue of Security, Funded.

Let's crush it this year! ๐Ÿ’ช Onward to this week's issue.

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๐Ÿ“Š Industry News

  • Twitter in data-protection probe after '400 million' user details up for sale (more)
  • Cyberattacks on Indian Govt Agencies More Than Doubled In 2022 (more)
  • Oktaโ€™s GitHub source code stolen (more)

๐Ÿ’ฐ Funding Summary

  • 22 companies raised $494.5M across 16 unique product categories
  • 13 companies were acquired or had a merger event across 4 unique product categories

๐Ÿงฉ Funding by Product Category

  • $196.6M for Application Security
  • $120.0M for Distributed Ledger Technology (DLT) Security
  • $50.0M for Cyber Insurance
  • $45.0M for Fraud and Financial Crime Protection
  • $34.0M for Threat Detection and Response (TDR)
  • $17.2M for Data Protection
  • $13.5M for Machine Learning (ML) Security
  • $6.0M for Personal Cybersecurity
  • $5.0M for API Security
  • $3.8M for Managed Security Services Provider (MSSP)
  • $3.1M for Privileged Access Management (PAM)
  • $300.0K for Remote Browser Isolation
  • An undisclosed amount for Threat Informed Defense (TID)
  • An undisclosed amount for Threat & Vulnerability Management (TVM)
  • An undisclosed amount for SaaS Security
  • An undisclosed amount for Data Privacy

๐Ÿข Funding By Company

๐ŸŒŽ Funding By Country

  • $331.4M for United States ๐Ÿ‡บ๐Ÿ‡ธ
  • $100.0M for United Kingdom ๐Ÿ‡ฌ๐Ÿ‡ง
  • $34.0M for Germany ๐Ÿ‡ฉ๐Ÿ‡ช
  • $20.0M for Switzerland ๐Ÿ‡จ๐Ÿ‡ญ
  • $6.0M for Israel ๐Ÿ‡ฎ๐Ÿ‡ฑ
  • $3.1M for Australia ๐Ÿ‡ฆ๐Ÿ‡บ
  • An undisclosed amount for China ๐Ÿ‡จ๐Ÿ‡ณ

๐Ÿค Mergers & Acquisitions

๐Ÿ” Secure The Job

Return on Security Job Board

Browse the jobs I curate each week and apply for what matches your interests.

Post a role and request access to meet world-class candidates open to new opportunities. Learn more or request access here.

๐Ÿ“š Great Reads

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๐Ÿงช Labs

๐Ÿ‘‹ Thanks

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Thanks for reading, and see you again next time!


Mike P