Security, Funded - August 2021 Roll-up

The August 2021 roll-up of the "Security, Funded" newsletter from Return on Security.

Mike P
Mike P

Table of Contents

This is the second issue of the Pro Reports roll-up series for the Security, Funded newsletter. As a Pro Member, you get access to additional analysis and insights from the free newsletter and additional commentary from me.

Let's dive in.


  • 30 companies raised $680.9M in August 2021

By Industry

Similar to July 20201, most funding did not target a specific industry vertical, however, there was much more diversification across connected devices.

We can expect this to continue to shift to focus on protecting Critical Infrastructure and an uptick in funding where the cyber-physical worlds meet in the forms of autonomous vehicles and large crowd/arena gatherings happen.

Funding by industry
  • $444.0M was Industry Agnostic ( ⬇️ from $1.73B in July 2021)
  • $126.8M for Industrial Control Systems (ICS) ( ⬆️ from $2.5M in July 2021)
  • $62.0M for Autonomous Vehicles
  • $30.0M for Critical Infrastructure and Energy
  • $17.0M for Insurance
  • $1.2M for Space & Satellite

By Category

Data Protection, IoT Security, and Security Operations lead the way in funding for July 2021.

Funding by product category
  • $260.9M for Data Protection
  • $134.5M for IoT Security
  • $72.3M for Security Operations
  • $56.0M for Threat Detection
  • $30.0M for Extended Detection & Response (XDR)
  • $30.0M for Identity and Access Management
  • $30.0M for Firmware Security
  • $17.0M for Security Analytics
  • $17.0M for Cyber Insurance
  • $16.7M for Security Orchestration & Automated Response (SOAR)
  • $9.0M for Email Security
  • $4.3M for Risk Management
  • $1.4M for Privacy
  • $1.2M for Satellite Security
  • $400.0K for Cybersecurity Education
  • $250.0K for Security Awareness
  • An undisclosed amount for Threat Intelligence
  • An undisclosed amount for Compliance
  • An undisclosed amount for Cloud Security Posture Management (CSPM)

By Lead Investor

The top 5 lead investors or investor teams.

Most Potential

The companies that I'm the most excited about this month and the ones I think that have the most potential to disrupt or take a big market share.

By Company

  • OwnBackup, a cloud data protection and backup system for companies using Salesforce, raised a $240.0M Series E.
  • Nozomi Networks, a cybersecurity and operational visibility solution for industrial control systems (ICS) or IC, raised a $100.0M Series D.
  • Upstream Security, a centralized security & analytics platform for connected & autonomous vehicle fleets, raised a $62.0M Series C.
  • ReversingLabs, a threat detection and analysis platform operating in the software supply chain and threat hunting space, raised a $56.0M Series B.
  • Finite State, a firmware layer cybersecurity platform for connected devices and their supply chains, raised a $30.0M Series B.
  • Teleport , a platform that creates unified remote access to internet resources via ephemeral certificates, raised a $30.0M Series B.
  • Hunters, a cloud-naive extended detection and response (XDR) platform, raised a $30.0M Series B.
  • Baffle, a de-identification and encryption platform for data analytics pipelines, raised a $20.0M Series B.
  • Monad, a platform making security data easy and accessible for DevOps and cloud engineering teams, raised a $17.0M Series A.
  • Sayata Labs, a cyber analytics platform to empower the insurance industry in assessing cyber risk, raised a $17.0M Series A.
  • D3 Security, a platform for incident response, investigation/case management, and security operations, raised a $15.0M Venture Round.
  • TXOne Networks, a company offering cybersecurity solutions to protect industrial control systems (ICS), raised a $12.9M Series A.
  • Armored Things, a predictive incident and emergency response platform for the Internet of Things (IoT) to respond to cyber-physical threats and attacks, raised a $12.0M Series A.
  • Blumira, an automated detection and response platform, raised a $10.3M Series A.
  • Tessian, an enterprise email security platform, raised a $9.0M Series C.
  • SIGA OT Solutions , a company providing operational Technology (OT) monitoring and anomaly detection for SCADA/ICS systems, raised an $8.1M Series B.
  • DeNexus, an industrial cyber-risk modeling and quantification company, raised a $4.25M Seed.
  • Trickest, a low-code security orchestration and automated response (SOAR) platform for offensive and defensive security teams, raised a $1.7M Seed.
  • Secmation, a platform integrating information security into industrial and defense products, raised a $1.5M Grant.
  • SpaceIt, a company providing infrastructure to increase reliability and security satellite missions, raised a $1.2M Pre-Seed.
  • Oblivious, a tool that allows data scientists to work with sensitive data without exposing the underlying data, raised a $1.1M Pre-Seed.
  •, a SaaS platform that reduces the time to detect cybersecurity breaches by seeding customer data with trackable records, raised a $890.0K Pre-Seed.
  • CAPSLOCK, an intensive bootcamp platform that re-skills adults to become cybersecurity professionals, raised a $400.0K Pre-Seed.
  • Syntonym, a platform that lets you anonymize visual data in a GDPR-compliant way, raised a $390.0K Seed.
  • Hook Security, a cybersecurity training company introducing Psychological Security to the outdated Security Awareness Training industry, raised a $250.0K Seed.
  • CYSEC, a secure containerized data security platform, raised an undisclosed amount on a Series B round.
  • Team Cymru, an internet threat intelligence security company, raised an undisclosed amount on a Private Equity round.
  • A-LIGN, a global cybersecurity and compliance solutions provider, raised an undisclosed amount on a Private Equity round.
  • Rubrik, a data management platform focusing on zero-trust data protection, raised an undisclosed amount on a Corporate Round.
  • SecLogic, a cloud security posture management and identity governance and organization risk orchestration startup, raised an undisclosed amount on a Pre-Seed round.