๐Ÿ’ฐ Security, Funded #94 - Cyber Money is Bulking Up๐Ÿ’ช

A review of cybersecurity funding and industry news from the week of May 15th, 2023, from Mike Privette.

Mike P
Mike P

Table of Contents

Hey there,

Happy Monday, and I hope you had a great weekend!

๐ŸŽฏ The Rundown

  • First DPSM company gets acquired
  • Meta gets a mega EU privacy fine
  • Montana tells TikTok to skedaddle
  • A quiet week for earnings
  • SMBs still struggling for cyber talent
  • Cyber funding gets physical
  • 20 companies raised funding, 8 companies acquired

Onward to this week's issue.


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๐Ÿ”ฎ Earnings Reports ๐Ÿ†•

None to report on from last week, but Iโ€™ll be checking out the upcoming calls for Palo Alto, KnowBe4, ZeroFox, and Zscaler coming next week, so stay tuned!

๐Ÿ›ž Industry News Roundup

  • 61% of mid-sized businesses do not have dedicated cybersecurity experts (more)
  • Montana becomes the first US state to ban TikTok (more)
  • Meta is facing a record EU data privacy fine (more)

๐Ÿ“… YTD Funding

A rolling 12-week chart to compare funding each week between 2022 and 2023.

Funding got a huge boost this last week off the back of heavy investment in physical security, which often comes with large rounds. YTD funding is still down ~32%, and YoY funding is down ~37%, even with 20 investments last week.

๐Ÿ’ฐ Funding Summary

  • 20 companies raised $384.0M across 14 unique product categories
  • 8 companies were acquired or had a merger event across 7 unique product categories for $63.5M

๐Ÿงฉ Funding By Product Category

  • $192.0M for Physical Security across 2 deals
  • $81.0M for Blockchain Security across 2 deals
  • $60.0M for Managed Detection and Response (MDR) across 1 deal
  • $23.5M for Software Supply Chain Security across 3 deals
  • $6.0M for Secure Remote Access across 1 deal
  • $6.0M for Data Protection across 1 deal
  • $6.0M for Cyber Insurance across 1 deal
  • $5.5M for Cybersecurity Education & Training across 1 deal
  • $4.0M for Managed Security Services Provider (MSSP) across 3 deals
  • An undisclosed amount for Secure Collaboration and Messaging across 1 deal
  • An undisclosed amount for Internet of Things (IoT) Security across 1 deal
  • An undisclosed amount for Identity and Access Management (IAM) across 1 deal
  • An undisclosed amount for Continuous Compliance across 1 deal
  • An undisclosed amount for Cloud Security Posture Management (CSPM) across 1 deal

๐Ÿข Funding By Company

๐ŸŒŽ Funding By Country

  • $378.0M for United States across 13 deals ๐Ÿ‡บ๐Ÿ‡ธ
  • $6.0M for Israel across 2 deals ๐Ÿ‡ฎ๐Ÿ‡ฑ
  • An undisclosed amount for China across 1 deal ๐Ÿ‡จ ๐Ÿ‡ฐ๏ฟฝ๐Ÿ‡จ
  • An undisclosed amount for Ireland across 1 deal ๐Ÿ‡ฎ๐Ÿ‡ช
  • An undisclosed amount for Germany across 1 deal ๐Ÿ‡ฉ๐Ÿ‡ช
  • An undisclosed amount for Chile across 1 deal ๐Ÿ‡จ๐Ÿ‡ฑ
  • An undisclosed amount for Canada across 1 deal ๐Ÿ‡จ๐Ÿ‡ฆ

๐Ÿค Mergers & Acquisitions

  • Polar Security, an Israel-based data security posture management (DSPM) platform, was acquired by IBM for $60.0M. (more)
  • Cyren, a United States-based cyber threat intelligence and malware detection platform, was acquired by Data443 for $3.5M. (more)
  • Corporate Armor, a United States-based cybersecurity technology and software reseller, was acquired by BlueAlly for an undisclosed amount. (more)
  • CST, a United States-based managed services provider (MSP), was acquired by The 20 MSP for an undisclosed amount. (more)
  • Curity, a Sweden-based API authentication and security platform, was acquired by GRO Capital for an undisclosed amount. (more)
  • Eclectic IQ, a Netherlands-based cyber threat intelligence and hunting platform, was acquired by ReliaQuest for an undisclosed amount. (more)
  • ICCS, a United States-based managed security services provider (MSSP), was acquired by NexusTek for an undisclosed amount. (more)
  • Ion Channel, a United States-based software supply chain security platform, was acquired by Exiger for an undisclosed amount. (more)

๐Ÿ“š Great Reads


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