💰 Security, Funded #75 - Zombiecorns, Finding Profit, and Yet Another Newsletter™️
The Security, Funded Newsletter Issue #75 - The Business Of Global Cybersecurity Funding And M&A News From The Week Of January 2nd, 2023.
Table of Contents
I hope you had a great weekend and that your first week back after the New Year is going well!
In this week's issue:
- Finding Profit
- Yet Another Newsletter™️
Deal flow starting off the year in 2023 is still a bit slow in terms of overall volume, which isn't unusual, but it has a decidedly different vibe.
To sum up how investors are feeling about deploying capital at the start of 2023:
We're barely into 2023, and we've already seen massive rounds of layoffs at large tech companies like Twitter (again), Salesforce, Amazon, and Vimeo. This is coming off the heels of many other layoffs in 2022. Many industry analysts expect more layoffs and fewer job openings in the coming months as companies rethink how they operate.
It's hard out there for tech job seekers, and cybersecurity is no exception.
For anyone who subscribed this year (thank you, btw 🙏), last year, I asked everyone about some potential new content ideas.
Many voted for "yes to both," but overwhelmingly, people were interested in a newsletter about cybersecurity jobs. With all the people who have been recently displaced, there's no better time to give more back to the community.
So without further ado, may I present to you yet another newsletter (YAN™️) called 🔐 Secure the Job
This will be another free newsletter, and it will be free for anyone to submit job posts that can show up in each issue. You can also opt to have jobs featured.
If you've got some open roles you want to share in the newsletter, submit them here:
Let's help some people land up! Onward to this week's issue.
Proven strategies to grow sales at your cyber security company
Growing sales at a cybersecurity startup is hard. Maybe you are thinking how do I get the next 30 customers? How do I get noticed in a very noisy market? How can our sales team sell more, faster? If this sounds familiar, subscribe to Sales Bluebird, the newsletter for leaders and go-to-market teams at cybersecurity companies. Every week we tackle the go-to-market challenges every startup faces.
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📊 Industry News
- Mudge Joins Cybersecurity Firm Rapid7 (more)
- U.S. and Japan agree to step up cybersecurity cooperation (more)
- AI for Cybersecurity Market is Going to Boom (more)
💰 Funding Summary
- 4 companies raised $403.0M across 4 unique product categories
- 4 companies were acquired or had a merger event across 3 unique product categories
🧩 Funding by Product Category
- $401.0M for Secure Access Service Edge (SASE)
- $2.0M for Network Detection and Response (NDR)
- $24.0K for Data Protection
- An undisclosed amount for Managed Security Services Provider (MSSP)
🏢 Funding By Company
- Netskope, a United States-based cloud security and secure access company, raised a $401.0M Convertible Note from Morgan Stanley. (more)
- IronNet Cybersecurity, a United States-based network detection and response (NDR) platform, raised a $2.0M Post-IPO Debt from C5 Capital. (more)
- Certificatum, a Turkey-based certificate management platform running on distributed ledger technology, raised a $24.0K Pre-Seed.
- Moyun Technology, a China-based managed security services provider (MSSP), raised an undisclosed Venture Round from GoldStone Investment.
🌎 Funding By Country
- $403.0M for United States 🇺🇸
- $24.0K for Turkey 🇹🇷
- An undisclosed amount for China 🇨🇳
🤝 Mergers & Acquisitions
- Aerial Armor, a United States-based counter-drone airspace security platform, was acquired by Dedrone for an undisclosed amount. (more)
- Amyx, a United States-based managed security services provider (MSSP), was acquired by Tetra Tech for an undisclosed amount. (more)
- CalTech, a United States-based managed services provider (MSP), was acquired by Integris for an undisclosed amount. (more)
- Hanebutt Technologies, a United States-based managed security services provider (MSSP), was acquired by Techfive for an undisclosed amount. (more)
🔐 Secure The Job
This is the part I talked about above. Going forward, I'm removing this section from this newsletter and turning it into its own dedicated newsletter!
📚 Great Reads
- Zombiecorn, By the Numbers - How many Zombiecorns are now roaming the cybersecurity marketplace? Let's check out 2022's numbers!
- Open Source Security Index - The Open Source Security Index is designed to make finding open source security projects easier for everyone.
- 10 Reasons for VCs to Invest in a Network of Security Leaders - Security threats are constantly evolving and becoming more sophisticated and the battle for investment dollars is getting more scrutiny.
An alternative to restrictive data governance
Privacy Dynamics knows developers and engineers want the latest and greatest production data in their preview environments, but we also understand why security and regulatory leaders lose sleep over it. In our latest blog article, we review new requirements under CPRA and present an alternative to restrictive access controls that risk slowing down your engineers.
Read the Article
Have questions, comments, or feedback about this issue? I'd love to hear from you. If you enjoyed this issue, please send it to a friend or colleague!
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Thanks for reading, and see you again next time!