Security, Funded - October 2021 Roll-up

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

Mike P
Mike P

Table of Contents

This is the fourth issue of the Pro Reports roll-up series for the Security, Funded newsletter. I adjust this content often based on feedback, so if you see something you like or you feel something is missing, just let me know.

Let's dive in.


  • 58 companies raised $2.9B (⬆️ from $2.4B in September)

By Industry

Most funding again did not favor a specific industry, but growth in critical infrastructure and autonomous vehicles continues month-over-month. I would expect a continued rise in the ICS/CAVs space.

  • $2.7B was industry agnostic (⬆️ from $1.9B in September)
  • $202.4M for Industrial Control Systems
  • $20.0M for Military & Defense
  • $8.0M for Connected and Automated Vehicles (CAVs)
  • $5.6M for Social Networks

By Category

Software Security, Cloud Security, and Security Analytics lead the way in funding this month.

I predict in the next 6-12 months we will see a substantial increase in spending in the Privacy category.

Top 5 product categories by funding
  • $628.1M for Application Security
  • $396.3M for Cloud Security
  • $292.0M for Security Analytics
  • $250.0M for Cloud Security Posture Management
  • $233.4M for Data Protection
  • $225.0M for IoT Security
  • $222.0M for Threat Intelligence
  • $118.5M for Identity and Access Management
  • $90.0M for Managed Services Provider (MSP)
  • $60.8M for Privacy
  • $60.0M for Data Governance
  • $51.2M for Cybersecurity Consulting
  • $50.0M for Endpoint Detection and Response
  • $40.0M for Network Security
  • $30.0M for Physical Security
  • $30.0M for Breach & Attack Simulation
  • $20.0M for Operational Technology (OT) Security
  • $20.0M for Cyber Insurance
  • $19.5M for Cloud Management Platform
  • $16.6M for AI Security
  • $8.9M for Security Awareness
  • $8.0M for Connected and Autonomous Vehicle Security (CAVS)
  • $7.0M for Third-Party Security
  • $5.6M for Social Network Security
  • $5.3M for Supply Chain Security
  • $3.3M for Attack Surface Management
  • $840.0K for Deception Technology
  • An undisclosed amount for Firmware Security
  • An undisclosed amount for Anti-Phishing

By Lead Investor

The top 5 lead investors or investor teams.

  • Summit Partners - $625,000,000.00
  • TCV - $250,000,000.00
  • Greenoaks Capital- $250,000,000.00
  • Madrone Capital Partners - $200,000,000.00
  • Lightspeed Venture Partners - $200,000,000.00

Most Potential

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