Cybersecurity M&A and Funding Update: June 25
Information security funding rounds, financial or strategic transactions, and IPOs announced this week.
SentinelOne’s IPO filing, Splunk's $1 billion private equity investment, and Cross River's risk analytics acquisition dominated investor attention this week. Cloud security and passwordless authentication companies attracted capital rounds. M&A deals this week involved companies focused on risk analytics, identity security, and threat landscape visibility.
SentinelOne, a California-based provider of an autonomous AI endpoint security platform, has filed for its initial public offering, looking to raise up to $928 million. The company is offering 32 million shares, each priced between $26 and $29.
Confluent, a California-headquartered deliverer of a streaming platform based on Apache Kafka to facilitate real-time data processing tasks, has filed to go public, offering 23 million shares of Class A Common Stock at an initial price of between $29 and $33 per share. The initial public offering is expected to raise $713 million.
Splunk, a San Francisco-based provider of operational intelligence for security, IT, and businesses, has secured a $1 billion investment from Silver Lake Partners, a global private equity firm headquartered in California focusing on investments in the technology industry.
Transmit Security, an Israeli cybersecurity company that provides agile passwordless authentication, has secured $543 million in a Series A funding round led by Insight Partners and General Atlantic, with participation from Cyberstarts, Geodesic, SYN Ventures, Vintage, and Artisanal Ventures.
Symmetry Systems, a provider of data store and object security (DSOS) headquartered in San Francisco, raised $15 million in a Series A funding round led by Prefix Capital and ForgePoint Capital. Accenture Ventures also participated in the funding round.
Lightspin, a Tel Aviv-based cloud security platform that protects cloud and Kubernetes environments, has closed a $16 million Series A funding round. Dell Technologies Capital was the lead investor, with a follow-on investment from existing investor Ibex Investors.
Drata, a San Diego-based provider of security and compliance automation, has secured $25 million in a Series A funding round fulfilled GGV Capital, a global venture capital firm that invests in the smart technology sector. New investors Okta Ventures, Silicon Valley CISO Investors, Cowboy Ventures, and Leaders Fund also participated in the round, along with several strategic investors and security practitioners.
Securitize, a San Francisco-based digital asset security firm, recently raised $48 million in a Series B funding round co-led by Morgan Stanley Tactical Value and Blockchain Capital, with contribution from Borderless Capital, IDC Ventures, and Sumitomo Mitsui Trust Bank.
Eltropy, a California-based provider of a secure digital communications platform for financial institutions, has closed a $25 million Series A funding round led by K1 Investment Management, which focuses on high-growth enterprise software companies. Additional investment from the Curql Fund and CMFG Ventures also helped fulfill the round.
Illumio, a cloud security company based in San Francisco that prevents cyber threats of unauthorized communications through adaptive segmentation, has secured $225 million in a Series F funding round headed by Thoma Bravo, a private equity firm with a focus on investing in software and technology companies. Franklin Templeton, Hamilton Lane, and Blue Owl Capital also participated in the round.
Mitiga, an Israeli cloud security start-up that helps organizations manage their incident response, has raised $25 million in a Series A funding round led by ClearSky Security, Atlantic Bridge, and DNX.
Mergers & Acquisitions
LookingGlass Cyber Solutions, a Virginia-based cybersecurity software company that delivers internet threat landscape visibility, has acquired AlphaWave, a Texas-based provider of external attack surface assessment and inventory management. With the acquisition, LookingGlass aims to help organizations better understand their cyber risk and how to reduce it.
Mobileum, a California-based global deliverer of analytics solutions for roaming and network services, security, risk management, and testing, has announced its acquisition of Developing Solutions, a provider of network testing software based in Texas. “The acquisition of Developing Solutions is a natural step in Mobileum's evolution, as we continue to consolidate the market and build an actionable analytics platform together with an end-to-end testing infrastructure to support telecom operators along their transformation journey,” stated Bobby Srinivasan, CEO of Mobileum.
Ping Identity, a Colorado-headquartered builder of identity security for the digital enterprise, has acquired SecuredTouch, a Palo Alto, California-based fraud prevention and detection company. “The acquisition of SecuredTouch accelerates our vision for cloud delivered intelligent identity solutions that combat malicious behavior such as bots, emulators, and account takeover,” commented Ping Identity CEO Andre Durand.
Cross River Bank Group, a financial services organization based in New Jersey, announced its acquisition of Synthetic P2P Holdings Corporation, a data and risk analytics firm that helps organizations assess and manage risk. With the acquisition, Cross River will advance its mission of providing access to financial services through its API-based platform.