Professional Documents
Culture Documents
Market Review
Q3 • 2017
Notable Speakers
Matthew Devost Bob Blakley
Managing Director Global Head of Information Security
Innovation, Citigroup
Notable Attendees
Nadav Zafrir Louis Modano
CEO, Team 8 SVP, CISO & Global Head of
Former Commander, Unit 8200 Infrastructure Services, Nasdaq
2
TRANSACTION
ANNOUNCEMENT
Has Been Acquired By
Exclusive Strategic & ▪ Acquisition strengthens Juniper’s leadership position in the next-gen firewall market and is
Financial Advisor To Cyphort a critical addition to Juniper’s Software-Defined Secure Network vision 02/28/17 105.0
▪ Cyphort will integrate into Juniper’s Sky ATP platform to provide customers with improved
performance, an increased range of supported file types and additional threat detection
capabilities
▪ Cyphort marks Juniper’s return to Cybersecurity M&A after an over 4 year absence 02/08/17 120.0
Momentum’s Role
▪ Momentum Partners served as exclusive strategic and financial advisor to Cyphort
August 31, 2017 ▪ This transaction demonstrates Momentum's continued success advising innovative, next- 02/01/17 40.0
generation Cybersecurity companies and furthers the firm's leadership position as the ‘go-
to’ advisor exclusively focused on Cybersecurity
5
I. About
Momentum
Partners
The Premier Cybersecurity Advisors
Enterprise Class Advice. Aligned With The Entrepreneur.
7
Tremendous M&A Track Record In Cybersecurity
Significant Deal Experience And Comprehensive Coverage Across The Cybersecurity Landscape.
Network ● Vulnerability Management ● Web ● Email ● Cloud ● SIEM ● Analytics ● Threat Intelligence ● Mobile ● Endpoint ● MSSP
8
Prolific Technology M&A Advisory Experience: 200+ Deals For Over $200+ Billion
Highly Experienced At Executing Transactions Of All Sizes Across All Enterprise IT Sectors For Two Decades.
Client Counterparty Transaction Amount ($M) Client Counterparty Transaction Amount ($M) Client Counterparty Transaction Amount ($M)
9
Balanced & Highly Experienced Advisors
A Bespoke, High-Impact Advisory Boutique For Discerning Clients Seeking Better Outcomes.
39%
10
Thought Leadership In Cybersecurity
Momentum’s Team Is Dedicated To Providing Thought Leadership In Addition To Our Dealmaking & Advisory Services.
11
Momentum’s Vast Cybersecurity Network & Reach
A Unrivaled Global Network of Buyers, Innovators, Investors, & Security Professionals.
Executives Investors
7,500+ 1,800+
Companies CISOs
2,500+ 750+
12
Why Momentum Partners?
Advice. Capital. Access.
Our extensive Cybersecurity network and ecosystem reach combined with our deep
mxv=p domain expertise will drive successful outcomes for our clients and investments.
13
II. Executive
Summary
3Q17: Market Update And Observations
Venture Capital & M&A Both Experienced A Continuous Increase In Activity Through 3Q17.
Top 5 Movers 3Q17
▪ Public market valuations for Cybersecurity continue to increase since their rerating a year ago from ’The Peak’ in
June 2015, with a median TTM Revenue Multiple of 4.3x, up 45% compared to June 2016 lows
Valuations ▪ High Growth Cybersecurity public comps were up 9% during the quarter, while our Low Growth Cybersecurity
33% 28%
comps were up 8%, relative to the NASDAQ which was up 6%, the S&P 500 which was up 4% and the HACK 27%
index which was up by less than 1% 18% 39%
▪ Cybersecurity M&A activity intensified through 3Q17 with announced M&A volume totaling $2.5B (38 transactions)
Exits: M&A & ▪ Notable M&A transactions during Q3 included SAP acquisition of Gigya ($350M), Digicert acquisition of Symantec’s
Web Security Business ($950M), Symantec acquisitions of Fireglass ($225M) & Skycure ($200M), Warburg Pincus
IPO Activity acquisition of eSentire ($150M), and Core Security (Backed By K1) acquisition of SecureAuth ($225M) IPO Pipeline
▪ ForeScout filed for its IPO on October 2 while Carbon Black has confidentially been on file since September 2016 Filed for IPO Filed Confidentially
on 10/2/17 on 09/30/16
▪ Q3 saw a continued increase in funding by $ amount and transactions, totaling $1.4B across 76 transactions; This
represents the 2nd largest funding quarter by number of transactions since 3Q16 (80 transactions) and the 3rd largest
Investment quarter by $ volume since 1Q16 ($1.7B invested) StackRox
Activity ▪ 4 transactions over $50M: BlueteamGlobal ($125M), ForgeRock ($88M), Druva ($80M), and DarkTrace ($75M)
▪ 46% of deals were early stage (Seed to Series A), with a median amount raised of $4.6M; the remainder consisted of
late stage (Series B+) with a median amount raised of $22.5M
▪ Strategic interest in next-gen MSSP/MDR has accelerated and is attracting interest from traditional MSSPs, new
entrants to the space including IT service providers, professional services/consulting firms, and other global players
with no current presence in the security services sector as well as VCs and private equity firms
Industry ▪ Gartner’s Top Cybersecurity trends for 2017 and 2018 include: (1) Cloud Security becomes a top priority for many,
Observations (2) shift from Protection and Prevention to Detection and Response, (3) DevOps transitioning to DevSecOps with a
focus on security, (4) security skill sets are scarce, resulting in negative unemployment rates and an increased focus
on data science and analytics skill sets, and (5) digital ecosystems drive next generation security with a focus
on safety, reliability and privacy
15
The Cybersecurity Dashboard: 3Q17
$3.5 Billion 210 $7.8 Billion 108
Financing Volume YTD Financing Transactions YTD M&A Volume YTD M&A Transactions YTD
Notable Financing Transactions Financing Activity Monthly Deal Count Pulse M&A Activity Notable M&A Transactions
Financing M&A
35 $19.4
Date Company Amount ($M) $4.3
30 Target Acquirer Amount ($M)
$3.5
25
06/07/17 125 20 1,527
$7.8
15
08/04/17 125 10 >1,100
5
06/21/17 100 0 950
Jan-15 Mar-15 May-15 Jul-15 Sep-15 Nov-15 Jan-16 Mar-16 May-16 Jul-16 Sep-16 Nov-16 Jan-17 Mar-17 May-17 Jul-17 Sep-17
2016 2017 YTD 2016 2017 YTD
Volume ($B) Volume ($B)
06/06/17 100 Public Comps M&A EV / Rev Multiples 614
267 137
Max 9.1x
Max 8.6x 4.9x
05/25/17 100 210 4.6x 108 400
Median 4.3x
Median 4.2x
05/17/17 100 350
Min 1.4x
Min 0.9x
04/05/17 89 225
2016 2017 YTD 2016 2017 2016 2017 YTD 2016 2017 YTD
09/05/17 88 (EV / 2016E Rev) (EV / 2017E Rev) 200
# of Deals (Median EV / LTM Rev) # of Deals
Multiple as of 09/30/16 Multiple as of 09/30/17
7/17: $200M / NA 7/17: $225M / NA 5/17: $100M / NA 5/17: $120M / NA 8/17: $125M / NA / PE 9/15: Series F: $75M
7/17: $35M / NA / A 7/17: $75M / $750M / D
6/14: Series E: $75M
9/13: Series D: $27M
12/12: Series C: $25M $229M
8/11: Series B: $17M
2/10: Series A: $10M
4/17: $215M / 7.2x 3/17: $614M / 6.1x 2/17: $400M / NA 2/17: $105M / 10.5x 7/17: $28M / $75M / C 6/17: $125M / $1.1B / D 6/17: $100M / $425M / E
2/17: $120M / 4.8x 1/17: $1.1B / NA 12/16: $1.9B / 2.0x 11/16: $650M / 6.5x 6/17: $100M / NA / D 5/17: $100M / $3.7B / Venture 5/17: $100M / $925M / D
Intrusion Prevention Systems Unified Threat Management Endpoint Detection & Response Vulnerability Assessment
Risk & Compliance Security Operations & Incident Response Data Security Mobile Security
SIEM
Threat Intelligence
Australian
MySpace Median Time of Compromise to Discovery
Friend Finder Weebly Verizon
Immigration
ClixSense
Equifax
Department
Carefirst
164,000,000 All Mandiant External Internal
AshleyMadison.com British
Airways
145,500,000 Network US Office of
Personnel
Wendys Investigations Notification Discovery
Experian / T- 415,000,000 Management
99 days 107 days 80 days
mobile Hacking
Banner Health Team
IRS MSpy
CarPhone Premera TalkTalk Red Cross Source: 2017 Mandiant M-Trends Report
3,700,000 Warehouse
Telegram
Slack Mail.RU
US Office of
Personnel
How Compromises Are Being Detected
Staples 25,000,000
Community Securus
Zomato Health Technologies Management Uber
Sony Pictures
Services
JP Morgan (2nd Breach)
Internal 47% 53%
Ebay Chase Notification of
Anthem Dominios
Pizzas (France) 145,000,000 76,000,000
Wonga
Breach
80,000,000 Twitch.tv
European
Central Yahoo Waterly Target
Mozilla
DaFont Bank
500,000,000 70,000,000
Japan Airlines
Scribd More than…
UPS
MacRumuors.com
Korea Credit
140 Countries
D&B, Altegrity
Bureau NASDAQ PayAsUGym
Facebook
New York Interpark
AOL Advocate
Taxis have some level of cyber weapon
2,400,000
Medical
Group Home Depot Cellebrite ssndob.ms development program
Apple 56,000,000 Living Social Neiman
Marcus Source: fortune.com
50,000,000 UbiSoft
Adobe
Dropbox
Yahoo Twitter
36,000,000 average cost of a data breach
3,000,000,000
$3.62 Million
decreased 10% over the past year
Year 2015 2016 2017E*
Source: 2017 Study Ponemon institute
81-640
Nationwide Job Postings By Category
641-1,396
Operate & Maintain
1,397-1,852 6%
3,446-7,245 Analyze
16%
7,246-11,088 Protect & Defend
Risk Manager / Analyst Systems Administrator IT Auditor Cyber Security Engineer Software Developer / Engineer Network Engineer /
Architect
Cyber Security Manager / Administrator Systems Engineer Cyber Security Analyst / Specialist Vulnerability Analyst / Penetration Tester
Source: http://cyberseek.org/heatmap.html
22
In Focus: Strategic Next-Gen MSSP Interest Has Accelerated
A Market Poised For Significant Strategic Activity Ahead.
Source: Company press releases and websites, Capital IQ, 451 Research.
23
In Focus: 3Q17 Cybersecurity Investor Spotlight
Leading Cybersecurity Investors: YL Ventures, Evolution Equity & Lightspeed Ventures.
HQ: Mill Valley, California (US) & Tel Aviv, Israel HQ: New York, New York & Zurich, Switzerland HQ: Menlo Park, California
Partners: Yoav Leitersdorf & Ofer Schreiber Partners: Richard Seewald,Karel Obluk,JR Smith,Dennis Smith Partners: Ravi Mhatre, John Vrionis, David Gussarsky
Latest Fund Size: $75M (YLV Fund III) Latest Fund Size: $125M (Evolution Technology Fund) Latest Fund Size: $715M (Lightspeed Venture Partners XI)
Overview: YL Ventures is a venture capital firm that invests Overview: Evolution Equity Partners is an international Overview: Lightspeed Venture Partners is an early stage
mainly in the U.S. and Israel. The firm prefers to invest in the venture capital firm that invests in North America, Europe venture capital firm focused on accelerating disruptive
SaaS, cloud computing, big data, cybersecurity, analytics, and Israel. The firm makes investments of $5M-$25M in innovations and trends in the Enterprise and Consumer
performance, business intelligence, e-commerce early and growth stage companies in cybersecurity and in sectors. The Firm currently manages over $4 billion of
infrastructure and mobile technology sectors. YL Ventures companies utilizing machine learning, big data, SaaS, mobile committed capital and is currently investing out of
tends to lead $2-3M seed investments rounds and continue and the convergence of consumer and enterprise software to Lightspeed XI, a $715 million fund & Lightspeed Select II, a
financial support in follow-on rounds. build market leading platforms. $500 million fund both in the U.S. and internationally.
110
7.9%
4.9%
100
90
80
Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17
R2
10.0x
3Q17: 32.7% $18,636 mn
$2,696 mn
2Q17: 42.2% 1Q17: 54.1%
$1,944 mn
$3,875 mn
8.0x $9,300 mn
$3,418 mn
: -1.2% , 1.7x
$13,234 mn
EV / Revenue 2017E
6.0x
$1,616 mn
$20,163 mn
$1,424 mn
4.0x $3,055 mn $766 mn $1,468 mn
$6,764 mn
$1,283 mn
$791 mn
$348 mn
0.0x
0% 10% 20% 30% 40% 50% 60% 70%
Note: Size of the bubble indicates Market Cap. In USD; Market data as of September 30, 2017.
Source: Capital IQ. 27
…While The Correlation To Growth Alone Steadily Increases
Public Markets Continue To Signal A Move Back To Growth.
10.0x
2,696 mn
18,636 mn
8.0x
1,944 mn 13,234 mn
3,875 mn
9,300 mn
EV / Revenue 2017E
: -2.5% , 1.7x
3,418 mn
6.0x 1,616 mn
1,424 mn
3,055 mn
20,163 mn
1,468 mn
4.0x
6,764 mn
766 mn
791 mn
1,283 mn
2.0x 348 mn 6,302 mn
1,001 mn
0.0x
0% 10% 20% 30% 40% 50%
2017E Revenue Growth
R2
3Q17: 35.0% 2Q17: 31.2% 1Q17: 16.7%
Note: Size of the bubble indicates Market Cap. In USD; Market data as of September 30, 2017.
Source: Capital IQ. 28
Trading Multiples: High Growth & Low Growth
Valuation Multiples For High Growth & Low Growth Cybersecurity Companies.
OKTA PFPT MIME SPLK PANW CYBR RPD CHKP QLYS LSE:SOPH SYMC TREND IMPV F-SECURE FEYE FTNT CUDA SCWX VDSI MOBL OKTA PFPT SPLK MIME PANW CYBR RPD CHKP QLYS SOPH SYMC TREND FEYE IMPV F-SECURE FTNT CUDA SCWX VDSI MOBL
53% 35%
29%
37% 26%
24% Median: 24%
34% 33%
Median: 28% 21% 21% 20%
28% 19% 18%
25% 24% 16%
22% 22% 15%
18% 17% 15% 15% 11% 10% 10% Median: 10%
Median: 13% 9% 8%
13% 10% 8%
8% 7% 7%
8% 8% 7% 4%
OKTA MIME PFPT SPLK RPD PANW CYBR SYMC F-SECURE IMPV FTNT TREND QLYS SOPH MOBL SCWX CHKP CUDA FEYE VDSI OKTA PFPT SPLK MIME PANW RPD CYBR SOPH IMPV QLYS FTNT MOBL F-SECURE SCWX VDSI FEYE SYMC CUDA TREND CHKP
Source: Capital IQ, market data as of September 30, 2017. High Growth represented by companies
with >20% revenue CAGR; Low Growth represented by companies with <20% revenue CAGR. 29
Public Company Trading Analysis
High Growth & Low Growth Cybersecurity.
Note: NM – Not Meaningful, NA – Not Available; market data as of September 30, 2017; * price performance from IPO price.
Source: Capital IQ. 30
Public Company Analysis: Operating Metrics
High Growth & Low Growth Cybersecurity.
▪ Bitglass‘ CASB solution provides enterprises with end-to-end data protection from the cloud to the device ▪ Paladion is a global cyber defense company that provides Managed Detection and Response Services,
without invading the employees’ privacy. It deploys in minutes and works with any cloud app on any DevOps Security, Cyber Forensics, & Incident Response by tightly bundling its semi-autonomous cyber
device. Bitglass protects data on mobile devices without the hassles of MDM and enables enterprises to platform & managed services with leading security technologies. Paladion analyzes billions of security
enforce corporate data security policies across apps like Office 365 and Salesforce. Bitglass also detects & events daily which powers its Big Data based security analytics models that are constantly refined &
block anomalous user behaviors, such as a hacker (or even a rogue privileged user) login in from new updated. Paladion offers CyberActive, an MDR service from its SOCs using this proprietary Big Data
Raised: $80.0M devices or locations, or attempting to download unusually large amounts of data from a cloud app. Raised: $9.6M security analytics & orchestration platform for advanced threat detection and response.
HQ: Campbell, CA ▪ Leadership: Rich Campagna (CEO), Anurag Kahol (CTO & Co-Founder) HQ: Reston, VA ▪ Leadership: Rajat Mohanty (CEO), Sunil Gupta (President & COO), Vinod Vasudevan (CTO)
▪ Callsign provides an artificial intelligence-based authentication platform for enterprises, financial ▪ Seclore provides data security solutions. It offers FileSecure, which enables organizations to control usage
institutions and consumer-facing digital services. Its unique Intelligence Driven Authentication™ (IDA) of information wherever it goes, within and outside of the organization’s boundaries; and provides the
solution enables more informed and truly adaptive access control decisions, putting enterprises and their ability to remotely enforce and audit who can view, edit, copy content, and screen capture files that help
users back in control. Behind the scenes the IDA solution uses multiple layers to recognize users through organizations to embrace external collaboration, file sharing, and the use of mobile devices. Seclore also
deep learning based upon location, behavior, device and biometrics. This creates frictionless access for offers a series of pre-built connectors that plug-in digital rights management to existing DLP, ECM, ERP,
Raised: $38.0M users, whilst reducing false rejection rates and increasing security as well as operational agility. Raised: $18.5M and mail/messaging solutions.
HQ: London, England ▪ Leadership: Zia Hayat (Founder & CEO), James Bradley (CTO), Ian Welch (COO) HQ: Sunnyvale, CA ▪ Leadership: Vishal Gupta (Co-Founder & CEO), Abhijit Tannu (Co-Founder & CTO)
▪ Capsule8 Protect is the industry’s first real-time attack disruption platform purpose-built for the cloud- ▪ Secret Double Octopus (SDO) is a provider of password-free, keyless authentication technology to
native world of Linux, containers and microservices. Capsule8 delivers visibility cluster wide across protect identity and data across cloud, mobile and IoT environments. Based on Secret Sharing, an
system, network and intra-container data to eliminate blind spots; real-time threat prevention by information theoretic security algorithm originally developed to protect nuclear launch codes, Secret
combining distributed, expert-driven analytics with powerful AI techniques; automated attack resilience Double Octopus’ technology prevents cyber attackers from accessing enough critical information to be
that shuts down both known/zero-day attacks as they occur; and easy integration with a simple, one-line useful for attacks, eliminating brute force, man-in-the-middle, PKI manipulation, key theft and certificate
Raised: $8.5M install into an organization’s platform and with forensic or op tools such as Slack, Hadoop and Splunk. Raised: $7.5M authority weaknesses.
HQ: Brooklyn, NY ▪ Leadership: John Viega (CEO/Co-Founder), Dino Dai Zovi (CTO/Co-Founder) HQ: Beersheba, Israel ▪ Leadership: Raz Rafaeli (Co-Founder & CEO), Shimrit Tzur-David (Co-Founder & CTO)
▪ IRONSCALES is the world’s first and only anti-email phishing technology to combine human intelligence ▪ Yubico provides authentication solutions for enterprises and online services. It offers YubiKey, a hardware
with machine learning to prevent, detect and respond automatically to today’s sophisticated email authentication token and a USB-key for instant authentication to networks and services that works on
phishing attacks using a multi-layered and automated approach. IRONSCALES expedites the time from various browsers, platforms, and computers. Yubico also provides, YubiHSM, an ultra-portable hardware
phishing attack discovery to enterprise-wide remediation from months to seconds, significantly reducing security module that protects sensitive data inside standard servers. Supporting multiple authentication
the workload on incident responders. and encryption protocols on all devices and platforms, YubiKeys protect access to user accounts for the
Raised: $1.5M ▪ Leadership: Eyal Benishti (CEO/Founder), David Burnett (VP, Sales UK & EMEA), Adam Hofeler (VP, Raised: $30.0M world’s largest enterprises and sets the standard for two-factor and multi-factor authentication.
HQ: Ra'anana, Israel Sales U.S.), Erez Fingerman (COO), Lomy Ovadia (Head of R&D), Tsachy Shapsa (Board Director) HQ: Palo Alto, CA ▪ Leadership: Stina Ehrensvärd (Founder & CEO), Jakob Ehrensvärd (CTO)
Strategic Milestone (M&A / Capital Raise) Strategic Milestone (M&A / Capital Raise) Strategic Milestone (M&A / Capital Raise) Strategic Milestone (M&A / Capital Raise)
Strategic Milestone (M&A / Capital Raise) Strategic Milestone (M&A / Capital Raise) Strategic Milestone (M&A / Capital Raise) Strategic Milestone (M&A / Capital Raise)
35
Momentum’s Watch List Outperforms
Achieving Major Strategic Milestones (M&A / Capital Raise) Since Making The Firm’s Watch List.
Company Strategic Milestone Company Strategic Milestone Company Strategic Milestone
Angel ($3M) Series A ($8M) Acquired ($100M) by Series A ($33M) Series A ($7M)
36
VI. M&A Activity In
Cybersecurity
Cybersecurity M&A Activity: Deal Volume and Exit Multiples
Cybersecurity M&A Activity Has Been Consistent YoY Since 2014.
Cybersecurity M&A Volume By Year (# Deals) Median Cybersecurity EV/TTM Revenue Multiples
2010 2011 2012 2013 2014 2015 2016 YTD 2017 2013 2014 2015 2016 YTD 2017
▪ Cybersecurity M&A activity in 2017 is on pace to match 2016 by number of deals: ▪ There are 11 deals YTD with disclosed multiples at a median of 4.6x TTM revenue
- 2017 YTD, announced M&A volume totaled $7.8B, representing 108 transactions: Gigya/SAP; ▪ 3 notable acquisitions YTD with disclosed TTM revenue multiples:
SecureAuth/Core Security; Digicert/Symantec (Web Security); Symantec/Fireglass & Skycure; CA
Technologies/Veracode; Keysight Technologies/Ixia; Heat Software(Clearlake Capital)/LANDESK; - Open Text acquired Guidance Software, 2.3x TTM Revenue
Madison Dearborn Partners/Bluecat Networks – represent a majority of $ amount for total of $5.8B - Thales acquired Guavus, 7.2x TTM Revenue
▪ Contemplated transactions are increasingly falling into four categories: - Palo Alto Networks acquired LightCyber, 10.5x TTM Revenue
- Transformational (a la Digicert/Symantec (Web Security); CA Technologies/Veracode
▪ The median Cybersecurity exit multiple in 2016 was 4.9x; through Q3 2017 exit multiples
- Expansion/Roadmap Gap (a la SAP/Gigya; Symantec/Skycure & Fireglass; Juniper/Cyphort) are slightly lower in comparison with 2016 at 4.6x TTM Revenue
- Opportunistic (a la Forcepoint/RedOwl; Rapid7/Komand; HPE Aruba/Niara)
- Private Equity/Buyout (a la Marlin Equity/Appriver; Warburg Pincus/eSentire; EQT/Open Systems)
▪ The median exit enterprise value for Cybersecurity exits since 2010 was $65.0M ▪ Valuations for M&A exits in Cybersecurity vary for many reasons – growth, market
leadership, customer validation, technology and team
▪ M&A exits in Cybersecurity are typically below $100M – 59%+ of the time
▪ Exits >10x are a minority (17%) where the buyers are typically cash rich and willing to
▪ Exits > $1B are rare, representing 8% of all deals (7 public, 9 private and 3 spin-out)
pay what it takes (median cash balance of the buyers at time of acquisition was $2.2B
and median market cap was $16.3B)
September 26, 2017 September 25, 2017 September 24, 2017 August 31, 2017 August 28, 2017 August 21, 2017 August 15, 2017
CYBER GLOBAL
DEFENSE
August 3, 2017 August 2, 2017 July 18, 2017 July 18, 2017 July 13, 2017 July 11, 2017 July 6, 2017
Federation & Credential App Directory Secure User Provisioning Reporting &
Bitium Funding Summary: $14.9M Single Sign-On Management Management Integration Access & Deprovisioning Compliance
Date Stage Amount Raised ($M) Selected Investors
Transaction Summary & Rationale
Aug 2016 Series A-1 6.0 ▪ “With the acquisition of Bitium, Google Cloud will gain capabilities to help us deliver on our Cloud Identity vision. Our
enterprise customers want a comprehensive solution for identity and access management and SSO that works across
their modern cloud and mobile environments. Bitium helps us deliver a broad portfolio of app integrations for
Feb 2014 Series A 6.5
provisioning and SSO that complements our best in class device management capabilities in the enterprise. As we add
Bitium’s capabilities, we’ll continue to work closely with our vibrant ecosystem of identity partners so that customers are
Aug 2013 Seed 2.4 able to choose the best solutions to meet their needs. - Karthik Lakshminarayanan, Director, Product Management, G
Suite and Cloud Identity
Source: Company press releases and websites, Capital IQ, 451 Research.
49
Marlin Equity Partners Acquires Appriver
Marlin Partners With AppRiver To Help Strengthen Their Product Offering & Expand Their Geographical Footprint.
Email
Employees: ~220 Office 365 Migration DNS Hosting Email Threat
Archiving &
Plus Services Plus Intelligence
Compliance
CEO: Michael Murdoch With Office 365 Plus, you Store your business records Complete migration Partnered with Akamai to Customizable, consultative
get expert migration securely and retrieve them solution will move calendar, put our customers' DNS service offered to
assistance along with easily contacts, emails, tasks, records on thousands of organizations that want to
Email & Web Security Phenomenal Care® journals, and notes from
one system to another
servers worldwide build or reinforce their cyber
defense capability
9/25/2017 NA mark a new chapter in AppRiver’s growth by partnering with Marlin and leveraging its extensive sector expertise and operational
resources to further strengthen our product offering and expand our geographical footprint.” - Michael Murdoch, CEO & Co-
5/12/2015 NA Founder, AppRiver
▪ “We are thrilled to partner with AppRiver & build upon its deep and long-standing customer relationships that have been
4/14/2015 $200M established through a superior product offering and commitment to world-class support. AppRiver is ideally positioned to lead
and innovate in today’s security-conscious environment as businesses of all sizes continue to transition to a cloud-based
7/7/2014 $170M
deployment model.“ Peter Chung, Principal, Marlin Equity Partners
Source: Company press releases and websites, Capital IQ, 451 Research.
50
SAP Acquires Gigya
Gigya Will Help SAP Hybris To Better Profile Individuals Across Different Channels.
Jun 2012 Series D 15.4 ▪ “Gigya brings a wealth of skills and expertise that will significantly enhance the SAP Hybris Profile solution & allow us to take leadership
of the emerging customer identity and access management market.” -Carsten Thoma, President and Co-founder of SAP Hybris
Mar 2011 Series C 16.0
▪ “This is a vital step for digitalizing businesses because companies need to be able to draw accurate conclusions seamlessly across all
Mar 2008 Series B 9.6 channels, including web, mobile, in-store or connected devices, and the Internet of Things, as well as collect data about consumer
preferences. Together we are well positioned to drive more effective marketing, sales and service through data, while the customer stays
Feb 2007 Series A 4.0
in control of how much data is shared.” -Patrick Salyer, CEO of Gigya
Source: Company press releases and websites, Capital IQ, 451 Research.
http://fortune.com/2017/09/25/gigya-sap-hybris-israel/ 51
Forcepoint Acquires RedOwl
Redowl’s Analytics Will Bolster Forcepoint’s Existing Cybersecurity System and Other Technologies.
Source: Company press releases and websites, Capital IQ, 451 Research.
52
Warburg Pincus Acquires Majority Stake In eSentire
Warburg’s “Significant Equity Investment” Will Be Used To Grow The Business & Expand Its Services To Customers Globally.
esLOG
CEO: J.Paul Haynes Log management for MDR
Virtual CISO
Vulnerability
Risk Assessment
Vulnerability Assessments Phishing Campaigns Executive Briefings Security Policy Guidance (SPG)
Mgmt.
Assessments to identify
Tailored assessments Simulated attacks based
unknown, active exploits Security Program Maturity Assessment (SPMA)
eSentire Funding Summary based on business &
regulatory requirements
within the network
on custom themes
Security Incident Response Plan (SIRP)
Date Stage Amt Raised ($M) Selected Investors
Private
Transaction Summary & Rationale
Aug 2017 Undisclosed
Equity ▪ “With the ever-increasing complexity around cybersecurity and scarcity of security talent, more companies are
seeking comprehensive managed services that proactively detect and respond to cyber threats in real time.”
Feb 2016 Series D 19.5
▪ “eSentire provides the most complete suite of technologies and services in the MDR market and has
Sep 2014 Series C 14.0 experienced industry-leading growth and impressive customer satisfaction. We are excited to partner with
management to support the Company’s continued expansion and help them serve the complex cybersecurity
Jul 2013 Series B 7.0 needs of their customers.”
- Cary J. Davis, Managing Director, Warburg Pincus.
Source: Company press releases and websites, Capital IQ, 451 Research.
53
Webroot Acquires Securecast
Acquisition Will Help Businesses Reduce The Risks And Costs Of Cyber Threats With End User Education.
acquires ▪ Simulation Mgmt. Wizard ▪ Training Campaign ▪ Contact import using ▪ Phishing Campaign Statistics
Management Wizard CSV or web based form
Founded: 2015 ▪ Contact Manager ▪ Report Exports
▪ Contact Manager ▪ Use tags to group
▪ Phishing Email Templates ▪ Per-User Action Reports
contacts by client or
▪ Training Email Templates
▪ Phishing Lure Templates business unit
CEO: Daniel Fox ▪ Comprehensive Course
▪ Phishing Educational ▪ Send training and
Library (coming soon)
Templates phishing to group
Security Awareness ▪ Integration with Training
▪ Reporting Center Tracks
Completion and Quiz Scores
Courses
Webroot Security Acquisition History ▪ Reporting Center
▪ “The human factor is a consistent weakness in overall cyber defenses, and security awareness training is the only solution. As
09/19/2016 07/07/2010
cyberattacks like phishing become increasingly sophisticated, users are exposed to a variety of hidden threats that will
compromise their own data along with their employer’s data. Building on Securecast, Webroot will offer our MSP partners the
EmailSystems security awareness training they need to address this evolving threat landscape, and build a profitable new line of business.” -
11/1/2010 03/10/2010
Scandinavia AB
Chad Bacher, SVP of Product Strategy and Technology Alliances, Webroot
Source: Company press releases and websites, Capital IQ, 451 Research.
54
BlueteamGlobal Acquires BitVoyant, K2 Cyber Defense, & K2G Global
BlueteamGlobal Raises $125M and Acquires Three Companies.
Norton Secured Seal Seal-in-Search Daily Malware Scanning 24/7 Customer Support
Web Security $950M The #1 most recognized trust The Norton Secured Seal adds Built into every Symantec SSL/TLS Professionals are there whenever
mark on the web power to brand & click-through certificate for added protection you need help
rates against malicious infections
Key Milestones
Transaction Summary & Rationale
▪ VeriSign originally sold off its SSL/TLS Security ▪ Total purchase price: $950.0 million in cash and 30% stake in DigiCert
Certificate business unit to Symantec for $1.3
▪ “Transitioning our Website Security and related PKI solutions to DigiCert allows us to sharpen our enterprise focus on
billion in 2010 delivering unparalleled protection for the cloud generation through Symantec’s Integrated Cyber Defense Platform.”- Greg
Clark CEO, Symantec
▪ Thoma Bravo (private equity) took a majority
▪ “DigiCert is committed to providing the market with innovative products, the highest level of trust, and experienced
stake in DigiCert in 2015 for an undisclosed
leadership in the SSL and PKI community. We are excited about the opportunities ahead, and will work toward a smooth
amount transition for customers and Symantec’s Website Security employees.” – John Merrill, CEO of DigiCert
Source: Company press releases and websites, Capital IQ, 451 Research.
56
Rapid7 Acquires Komand
Acquisition of Komand Will Expand Rapid7 Insight Platform To Automate Reponses To Security Threats.
Respond to Threats Faster Save Time and Energy Improve Operational Efficiency
CEO: Jen Andre
Komand helps to
Komand utilizes your
Komand empowers your streamline security
team’s expertise to analyze
Security Orchestration $50M team to respond faster and
with detailed analysis
and decide, not manually
processes which make
your team more efficient
fetch data
and productive
Founded: 2011 ▪ Ensure security in VPCs & public cloud ▪ Understand normal behavior for devices ▪ Enables operators to monitor & control
industrial processes
▪ Uses flow logs & cloud data as inputs ▪ Not dependent on threat signatures
▪ Overcomes legacy industrial control
▪ Platform-agnostic: Works with any cloud ▪ Successfully overcomes end-to-end systems challenges
environment, including hybrid infrastructure encryption security challenges
▪ Full management of Suricata IDS,
CEO: Bryan Doerr ▪ Integrates with AWS & Microsoft Azure ▪ Minimizes false positive alerts by
generating only amount of alerts required
including automatic definition updates
to accurately report on a network’s activity
Deeper Security Intelligence Cloud Platform Managed Services Agility Saas Subscription Dynamic Endpoint Modeling 100% Endpoint Agnostic
Network Security
All Networks Sizes And Types DEM Passive Network Sensor Management Dashboard Omniview Visibility Robust System Security Flexible Integration Stack
Visualize, Search,
Discover
CEO: Paula Long File Count File Distribution With Sensitive Office Macros or
Activities
Identify & Secure
By Category By Size Data Risk Dangerous Data Sensitive Data
File Metadata Inputs Outputs
Active Directory Audit File &
Content User Activities
Data Security Ransomware Dormant Data Tags Discovered Activities
VM DGfV Achieve Behavior
Based Protection
Source: Company press releases and websites, Capital IQ, 451 Research.
59
Symantec Acquires Skycure
Acquisition of Skycure Will Enhance Symantec’s Endpoint Protection Solutions For Enterprise Mobile Device Security.
Source: Company press releases and websites, Capital IQ, 451 Research.
60
Symantec Acquires Fireglass
Fireglass’ Isolation Technology Will Strengthen Symantec’s Integrated Cyber Defense Platform.
Source: Company press releases and websites, Capital IQ, 451 Research.
61
VII. VC
Activity In
Cybersecurity
Financing Activity Since 2010
Cybersecurity Startups Raised $19.0 Billion Across 1,504 Deals Since 2010.
Q1'10
Q2'10
Q3'10
Q4'10
Q1'11
Q2'11
Q3'11
Q4'11
Q1'12
Q2'12
Q3'12
Q4'12
Q1'13
Q2'13
Q3'13
Q4'13
Q1'14
Q2'14
Q3'14
Q4'14
Q1'15
Q2'15
Q3'15
Q4'15
Q1'16
Q2'16
Q3'16
Q4'16
Q1'17
Q2'17
Q3'17
2010 2011 2012 2013 2014 2015 2016 YTD
2017
▪ $3.5B has been raised through 3Q17 ▪ Over the last eight quarters investors have poured $9.1B into Cybersecurity
▪ $1.4B raised and 76 transactions in 3Q17 put ▪ 3Q17 continued its significant funding trend totaling $1.4B across 76 transactions, representing the 3rd largest
2017 on track to outpace 2016 in terms of $ funding quarter for Cybersecurity since 2010 having followed the 2nd largest funding quarter in 2Q17 of $1.5B
amount raised and number of transactions ▪ 3Q17 funding was quite evenly spread across the three months of the quarter with 27 deals ($451M) in
September, 23 deals ($465M) in August, & 26 deals ($460M) in July
▪ The top most well-funded startups have raised $4.7B over their lifespan ▪ Through 3Q17 NEA has become the most active investor in Cybersecurity,
▪ Tanium continues to top the list of most well-funded ahead of Tenable, having raised having invested in 31 company rounds since 2010
$100M in 2017 & $212M in 2015, totaling over $400M since 2007 ▪ 3Q17 was an active quarter with NEA making 4 Cybersecurity investments; Accel
▪ An additional 16 companies have raised between $100M and $140M for a total of Partners with 3 investments; and Bessemer Venture Partners, Andreessen
$1.9B, including Code42 ($138M), Pindrop Security ($133M), Bracket Computing Horowitz, and Allegis Capital making 2 investments each
($132M), Silent Circle ($130M), Digital Guardian ($126M), Ionic Security ($123M),
LogRhythm ($122M), AlienVault ($118M), Bromium ($116M), SentinelOne ($110M)
Microsoft Ventures, Salesforce Ventures, Crane Onfido's identity verification software, powered by machine learning technology, verifies peoples’
27-Sep-17 30.0
Venture Partners identities before running further searches (i.e. Criminal/Anti-Money-Laundering).
Logtrust is a Real-Time Big Data-in-Motion platform offering Fast Data, and Big Data analytics
27-Sep-17 Insight Venture Partners, Kibo Ventures 35.0
through a solution that enables real-time analytics for operations, fraud, and security.
Bessemer Venture Partners, Ballentine Capital Bastille provides full visibility into the known and unknown mobile, wireless, and Internet of
21-Sep-17 27.0
Partners, Comcast Ventures Things (IoT) devices inside an enterprise’s corporate airspace.
Fosun RZ Capital, China Growth Capital, Zhizhangyi has developed virtual security domain technology that can protect smartphones
20-Sep-17 22.8
Investor, APUS Investments without the support of mobile apps.
Octopus Ventures, Industry Ventures, World Digital Shadows provides insight into an organization’s external digital risks and the threat actors
20-Sep-17 26.0
Innovation Lab targeting them.
20-Sep-17 Volition Capital, Eight Roads Ventures Securonix is a Behavioral Analytics Platform for Insider Threat and APT detection. 29.0
Lightspeed Ventures, Microsoft Ventures, Shlomo Aqua Security (formerly named Scalock) enables enterprises to secure their virtual container
19-Sep-17 25.0
Kramer, TLV Partners environments from development to production, accelerating container adoption.
Eight Roads, F-Prime Capital Partners, 406 Threat Stack is the only fully integrated, cloud-native continuous monitoring solution that gives
19-Sep-17 45.0
Ventures, Accomplice, Scale Venture Partners customers instant visibility and automatically responds to changes in their environment.
Vade Secure provides email security for corporations of all sizes, including ISPs, hosting
18-Sep-17 Isai 12.0
companies, and OEMs around the world.
AppGuard has a revolutionary new approach to prevent breaches from threats that traditional
14-Sep-17 JTB Corp 30.0
anti-virus software is not equipped to face.
ThreatBook’s range of solutions consist of threat data, machine learning, and security research. Its
6-Sep-17 Hillhouse Capital Group 18.4
product portfolio consists of threat analysis platform, threat intelligence.
Accel Partners, Foundation Capital, KKR, ForgeRock digital identity management solutions transform how organizations securely interact
5-Sep-17 88.0
Meritech Capital Partners with customers, employees, devices, and things.
Institutional Venture Partners, Founders Fund, Qadium is a cybersecurity company that continually monitors the device layer of the Internet
30-Aug-17 40.0
New Enterprise Associates, TPG Growth using patented technologies and state-of-the-art tools in deep data structuring and analytics.
Triangle Peak Partners, Eastward Capital, Alsop Lookingglass Cyber Solutions is a cyber security software company delivering deep visibility into
29-Aug-17 26.3
Louie Partners, Neuberger Berman Group the Internet threat landscape.
Todd Davis, Ken A. Eldred, John Mumford, Anonyome Labs, makers of Sudo, develops powerful products that empower people to take back
28-Aug-17 20.4
Hanna Ventures, Greg Clark, Steve Shillingford control of their identity—in any situation.
Anthos Capital, Wipro Ventures, Tallwave Emailage delivers a predictive fraud risk score using email address, which integrates seamlessly
23-Aug-17 10.0
Capital, Radian Capital, Mucker Capital with the user's existing risk engine to optimize performance.
Draper Fisher Jurvetson (DFJ), A Capital Forward Networks delivers an innovative platform that provides network visibility, policy
23-Aug-17 16.0
Ventures, Andreessen Horowitz verification, and change modeling.
Vulcan Capital, Madrona Venture Group, Versive provides mission-focused adversary detection. The Versive Security Engine uses AI to
22-Aug-17 12.7
Goldman Sachs, Formation 8 automatically & dynamically contextualize behaviors within the adversary campaign mission stage.
Riverwood Capital, Sequoia Capital, Tenaya Druva’s award-winning solutions offer a single dashboard for backup, availability and governance,
22-Aug-17 80.0
Capital, Nexus Venture Partners dramatically reducing the effort to manage multiple systems.
17-Aug-17 Dell Technologies Capital, TriVentures ZingBox is a U.S.-based company that provides security for Internet of Things infrastructure. 21.7
16-Aug-17 CRV, Foundation Capital Respond Software is a provider of automated cyber security threat protection. 12.0
Allegis Capital, Energy Impact Partners, BYU Dragos applies expert human intelligence and behavioral analytics to redefine industrial control
14-Aug-17 10.0
Cougar Capital, DataTribe system (ICS) cybersecurity.
Commerce Ventures, Flint Capital, Santander Socure uses a proprietary artificial intelligence platform that analyzes vast quantities of online and
9-Aug-17 13.9
InnoVentures, Two Sigma Ventures, Work-Bench offline data to determine if an identity is authentic and belongs to the user.
BlueteamGlobal provides Advanced Cyber Threat Intelligence for large companies and Managed
4-Aug-17 Undisclosed 125.0
Cyber Security Services for smaller businesses.
83North, Battery Ventures, Cisco Investments, GuardiCore is an innovator in internal data center security focused on delivering more accurate
1-Aug-17 15.0
Dell Technologies Capital, TPG Growth and effective ways to stop advanced threats through real-time breach detection and response.
New Enterprise Associates, Andreessen UnifyID is an implicit authentication platform designed for online & physical world use. The
1-Aug-17 20.0
Horowitz, StartX, Accomplice Ventures solution utilizes sensor data from everyday devices and machine learning to authenticate users.
Accel Partners, PTB Ventures, Allegis Capital, Callsign is a mobile application that allows its users to securely access websites and keep their
27-Jul-17 35.0
NightDragon Security personal details private.
IDG Capital, Cash Capital Investment HanSight’s products use machine learning to identify abnormal behavior in databases, application
26-Jul-17 14.8
Management systems, networks and security devices.
Canaan Partners, Vertex Ventures, Data PerimeterX is a provider of scalable, behavior-based threat protection technology for the web,
25-Jul-17 23.0
Collective cloud and mobile.
DGB Investments, Gil Agmon, Mitvah Shamir, Based on a unique last-line-of-defense approach, Nyotron’s technology is designed to mitigate
24-Jul-17 21.0
Peter Stewart, Shmuel Harlap threats that were able to outsmart all security layers.
August Capital, Data Collective, Erik Swan, Real Insight Engines’ software enables organizations to unlock the value of machine data so it becomes
20-Jul-17 15.8
Ventures, Simon Crosby, Splunk accessible and actionable to anyone in an organization, from an analyst to an executive.
StackRox delivers a groundbreaking security platform using instrumentation and sophisticated
18-Jul-17 Sequoia Capital 14.0
machine learning to protect the agile enterprise.
Partech Ventures, 24 Haymarket, CME Ventures, Privitar provide organizations the ability to extract insight from sensitive or confidential data with
18-Jul-17 16.0
Illuminate Financial, Salesforce Ventures an uncompromising approach to data privacy & proven compliance with data regulation.
Greylock Partners, Bain Capital Ventures, Three
17-Jul-17 Awake is re-imagining network security and offers visibility into network operations and security. 22.5
Tree Ventures
Georgian Partners, Greycroft Partners, Flashpoint delivers Business Risk Intelligence (BRI) to empower business units and functions across
12-Jul-17 28.0
Bloomberg Beta, Cisco Investments organizations to make better decisions and mitigate risk.
Columbus Nova Technology Partners, NVIDIA, Deep Instinct leverages deep learning’s predictive capabilities in order to provide an on-device
12-Jul-17 32.0
Coatue Management, ATW Partners solution to protect against zero-day threats and APT attacks with unmatched accuracy.
Redline Capital Management, Silver Lake ZeroFOX protects organizations from the risks introduced by social networking and digital
12-Jul-17 40.0
Waterman, NEA, Highland Capital, Core Capital communication platforms.
Thomvest Ventures, Osage University Partners, Lastline provides the best-in-class malware protection platform to detect and stop advanced
11-Jul-17 28.5
Redpoint Ventures, Barracuda Networks persistent threats, zero-day exploits, and evasive malware.
Advance Venture Partners, Cisco, EPIC Ventures, HyTrust offers IT managers and administrators of virtual infrastructure a centralized, single point of
11-Jul-17 36.0
Fortinet, Intel Capital, Sway Ventures control for hypervisor configuration, compliance, and access management.
Insight Venture Partners, KKR, Summit Partners, Darktrace is one of the world’s fastest-growing cyber defense companies and a leader in Enterprise
11-Jul-17 75.0
TenEleven Ventures Immune System technology.
Sapphire Ventures, Accel Partners, DFJ Growth, Sumo Logic is a log management and analytics company that leverages Big Data for real-time IT
27-Jun-17 75.0
Greylock, Institutional Ventures, Sequoia Capital insights. The cloud-based service provides customers with real-time interactive analytics.
Meritech Capital Partners, Bessemer Venture Auth0 is a cloud service that provides a set of unified APIs and tools that instantly enables single
27-Jun-17 30.0
Partners, K9 Ventures, Trinity Ventures sign-on and user management for any application or IoT device.
Capital One Growth Ventures, Groupe Arnault, Riskified operates a technology platform for online merchants that is used to prevent fraudulent
27-Jun-17 33.0
Pitango Venture Capital and other transactions of risk.
Dell Technologies Capital, TenEleven Ventures, JASK is a cyber security company that delivers artificial intelligence and analytics tools to help
27-Jun-17 12.0
Battery Ventures, Vertical Venture Partners enterprises automate their security operations.
SparkCognition is a Cognitive Security Analytics company, applying Machine Learning and AI to
26-Jun-17 Verizon Ventures, Boeing HorizonX 32.5
Cloud Security and the Internet of Things.
Alert Logic provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures,
22-Jun-17 Square 1 Bank 70.0
delivering deep security insight and continuous protection for customers.
Cybereason delivers a technology platform that automatically uncovers malicious operations,
21-Jun-17 Softbank 100.0
reconstructing them as a clear image of a cyberattack in context.
Spring Lake Equity Partners, Accomplice Matrix Sqrrl provides a big data analytic tool for detecting, investigating, and visualizing advanced
14-Jun-17 12.3
Partners, Rally Ventures cybersecurity threats.
WhiteSource fully automates all open source management needs, including open source
14-Jun-17 83North, David Strohm, Microsoft Ventures 10.0
components detection, security vulnerabilities and new version alerts.
Trusona has developed a digital identity authentication solution where there are no passwords to
13-Jun-17 Microsoft Ventures 10.0
be created, remembered, stolen, or compromised.
Bure Equity AB, New Enterprise Associates, The Yubico delivers strong hardware protection, with a simple touch, across any number of IT systems
8-Jun-17 30.0
Valley Fund and online services.
J.P. Morgan Asset Management, 8VC, Accel Illumio stops cyber threats by controlling the later movement of unauthorized communications
7-Jun-17 125.0
Partners, Andreessen Horowitz, Data Collective through its breakthrough adaptive segmentation technology.
Gili Raanan, Mickey Boodaei, Rene Bonvanie, Armis eliminates the IoT security blind spot, letting enterprises instantly see and control
6-Jun-17 17.0
Sequoia Capital, Tenaya Capital, Zohar Zisapel unmanaged or rogue devices and networks.
Accel Partners, Lightspeed Venture Partners,
6-Jun-17 Netskope performs deep usage analytics and enforces business and security policies in cloud apps. 100.0
Geodesic Capital, ICONIQ Capital
Dell Technologies Capital, F-Prime Capital RiskRecon uses proprietary data gathering techniques to create a 360-degree risk profile of an
1-Jun-17 12.0
Partners, General Catalyst, enterprise’s public IT footprint.
CounterTack provides real-time endpoint threat detection and response solutions to enterprises
30-May-17 Singtel Innov8, SAP National Security Services 20.0
and government organizations.
25-May-17 TPG Growth Tanium provides security and systems management solutions to allow real-time data collection. 100.0
ZeroFOX provides real-time social threat analytics, intelligence, and advanced security protection
24-May-17 Undisclosed 19.3
via its cloud-based cyber platform.
Sapphire Ventures, 83 North, Bessemer Venture Wandera’s pioneering web gateway for mobile provides organizations with Enterprise Mobile
18-May-17 27.5
Partners Security and Data Management.
Norwest Venture Partners, Data Collective, Wing Aporeto is a cloud-native security startup that offers comprehensive security solutions for
18-May-17 11.2
Venture Capital applications, containers, and microservices.
Accel Partners, CapitalG, March Capital Partners, CrowdStrike is a global provider of security technology and services focused on identifying 100.0
17-May-17
Telstra, Warburg Pincus advanced threats and targeted attacks.
Fontinalis Partners, Liberty Mutual Strategic 12.0
16-May-17 Karamba Security hardens Electronic Controller Units (ECUs) against any type of foreign code.
Ventures, Paladin Capital Group
GE Ventures, Shasta Ventures, Sway Ventures, Mocana creates and develops mobile application protection (MAP) app-shielding solutions, 11.0
16-May-17
Trident Capital enabling users to secure mobile apps.
Omidyar Technology Ventures, Bain Capital, Attivo Networks is the leader in dynamic deception for inside the network threat detection, attack 15.0
10-May-17
Macnica Ventures, Secure Octane, Trident Cyber analysis, and forensics.
CRV, Harrison Metal, Index Ventures, Oreilly Signal Sciences works across cloud and physical infrastructure, providing actionable security 15.0
9-May-17
AlphaTech Ventures prioritization based on where applications are targeted and blocking attacks.
Hasso Plattner Ventures. Battery Ventures, Vera operates as a data-security company that enables enterprises, IT organizations, and end-users 15.0
9-May-17
Capital One Ventures, Clear Venture Partners to secure and share digital information across platforms and devices.
Sierra Ventures, Storm Ventures, Dell 12.0
9-May-17 Redlock provides deep security visibility and anomaly detection for dynamic environments.
Technologies Capital
Signifyd is a SaaS-based, enterprise-grade fraud technology solution for e-commerce stores that 56.0
4-May-17 Redfield Asset Management
simplifies fraud detection through a financial guarantee.
Bain Capital Ventures, American Express VST Enterprises' VCode technology allows genuine users to authenticate themselves across a 14.7
3-May-17
Ventures, Menlo Ventures variety of online transactions and interactions.
Polaris Partners, Rally Ventures, TenEleven Twistlock develops a security suite for virtual container security in enterprises that enables 17.0
25-Apr-17
Ventures, YL Ventures developers and security operations teams to keep container-based applications safe.
Dome9 is a cloud firewall management service that creates a front-line defense that stops zero-day 16.5
19-Apr-17 Softbank
vulnerabilities, secures remote access, and centralizes policy management.
Aetna Ventures, Allegis, Bessemer Venture CyberGRX provides the most comprehensive third-party cyber risk management platform to cost- 20.0
18-Apr-17
Partners, ClearSky, GV, MassMutual Ventures effectively identify, mitigate and monitor an enterprise’s risk exposure across its entire ecosystem.
Alclear, doing business as CLEAR, develops an identity verification platform for individuals and
18-Apr-17 T. Rowe Price Associates 15.0
business travelers to get through airport security in the United States.
CRV; Hearst Ventures; Emergence Capital Zinc is a communications technology company that provides secure mobile communication
17-Apr-17 11.0
Partners; GE Ventures solutions to connect workers with their colleagues in and outside the office.
Merck Global Health Innovation Fund, Norwest ClearDATA provides a managed cloud used healthcare professionals to safeguard their patient
13-Apr-17 12.0
Venture Partners, Excel Venture Management data and power their critical applications.
PAS provides process safety, cybersecurity, and asset reliability solutions for the energy, process,
11-Apr-17 Tinicum 40.0
and power industries worldwide.
Microsoft Ventures, Allegis Capital, GGV Capital, Synack is a Crowd Security Intelligence platform that delivers the most secure, continuous,
11-Apr-17 21.3
Greylock Partners, GV, HPE, Icon Ventures scalable, security assessment on the market.
Armor is a secure Cloud company with managed cloud security services that deliver protection,
5-Apr-17 ST Telemedia 89.0
detection and response for data workloads and applications
LogPoint delivers a flexible and easy to use platform for collecting, analyzing, and monitoring your
4-Apr-17 Evolution Equity Partners 10.0
machine data.
Goldman Sachs Principal Strategic Investments, Dyadic Security removes the points of failure of security by sharing cryptographic keys over two or
14-Mar-17 12.0
Citi Ventures, Innovation Ventures more servers, carrying out cryptographic operation without ever recombining them.
Zimperium is a mobile security startup that develops a mobile IPS to combat advanced modern
8-Mar-17 Softbank 15.0
cyber attacks on smartphones.
ID.me is a digital identity network that empowers relying parties to grant access or benefits based
8-Mar-17 FTV Capital 19.0
on verified identity and attributes.
Touchstone Innovations, BGF Ventures, NM Garrison Technology has pioneered an anti-malware product that efficiently sidesteps the highest
6-Mar-17 14.8
Capital impact cyber threats to modern organizations (i.e. internet-borne targeted attacks).
DBJ Capital, Global Brain Corporation, Mizuho Trillium offers IoT cyber solutions for protecting automotive and IoT networks from malicious
15-Feb-17 15.0
Capital cyber-attacks including intrusive manipulation & passive monitoring or eavesdropping.
Felicis Ventures, Andy Bechtolsheim, John Dedrone, an automated drone security platform, is an extension of physical and cyber security 15.0
13-Feb-17
Chambers, Menlo Ventures into the airspace that protects a vulnerability gap exploited by the advances in drone technology.
Blackstone, Blumberg Capital, Glilot Capital, Intsights provides an automated system that detects, analyzes, and remediates threats by offering 15.0
13-Feb-17
Vintage Investment Partners, Wipro Ventures solutions for attack intentions, data leakage, phishing, fake applications, and VIP protection.
Demisto owns and operates an automation and collaboration platforms for security operations 20.0
9-Feb-17 Accel Partners, Slack, Clearsky
centers that provides automated incident response workflows.
Evident.io provides continuous cloud security for AWS, enabling rapid detection/remediation of 22.0
9-Feb-17 GV, Bain Capital, True Ventures, Venrock
risks, vulnerabilities, & compliance issues.
Dragoneer Investment Group, Benchmark, New 40.0
8-Feb-17 HackerOne provides a vulnerability management and bug bounty platform.
Enterprise Associates
Cisco Investments, Lightspeed Ventures Partners, Exabeam offers machine-learning technology that focuses on cyber attacker behavior to detect
7-Feb-17 30.0
Aspect Ventures, Icon Ventures, NVP modern cyber attacks.
Verato provides the most accurate identity resolution platform, which updates, matches, links, and
6-Feb-17 Bessemer Venture Partners, Columbia Capital 12.5
enriches patient and customer identities.
Redpoint, Data Collective, Granite Hill Capital SentinelOne uses predictive execution inspection to detect and protect all devices against targeted
25-Jan-17 70.0
Partners, SineWave Ventures zero day threats in real-time.
Arsenal Venture Partners, Tola Capital, Top Tier ProtectWise provides a pervasive view of the network, layered with refined analytics and a clear
18-Jan-17 25.0
Capital Partners interface that enables high performance threat hunting and accelerated incident response.
Columbia Capital, Harmony Partners, Zero OPĀQ Networks integrates networking and security to reduce complexity and costs, tighten
17-Jan-17 21.0
Gravity security control, & establish an infrastructure that allows organizations to keep ahead of threats.
Transmit Security connects applications to authenticators like face recognition, eye recognition,
12-Jan-17 Rakesh Loonkar, Mickey Boodaei 40.0
voice recognition, fingerprint, and OTP.
KPCB, Blackstone, Foundation Capital, In-Q-Tel, Phantom provides a security automation and orchestration platform that orchestrates key stages of
10-Jan-17 13.5
TechOperators security operations from prevention to triage and resolution.
BlueCross BlueShield Venture Partners, American Payfone provides businesses the ability to confirm their consumers & employees are who they say 23.5
5-Jan-17
Express, Relay Ventures, Verizon Ventures they are to create easy, secure & frictionless experience across PCs, mobile phones & tablets.
Future Fund, New Enterprise Associates, Norwest Bitglass provides security solutions that automatically segment, track, and secure businesses’ 45.0
5-Jan-17
Venture Partners, Singtel Innov8 sensitive data across cloud and mobile without invading the employees’ privacy.
Shea Ventures, Costanoa Ventures, Foundry VictorOps is a real-time incident management platform that combines people and data to 15.0
16-Dec-16
Group embolden DevOps teams to handle incidents as they occur and prepare for the next one.
Flint Capital, ff Venture Capital, Santander Socure consumers and businesses with a next-generation security SaaS solution to fight against the 13.0
13-Dec-16
InnoVentures, Two Sigma Ventures risk of identity theft and related fraudulent activities.
Peakspan Capital, Costanoa Ventures, Hyde Park Kenna is a Risk Intelligence & Vulnerability platform that enables InfoSec teams to prioritize and 15.0
7-Dec-16
Angels, OurCrowd, The R-Group LLC, USVP remediate vulnerabilities faster, measure and report risk, and automate their analysis.
SECDO develops innovative solutions that enable Security Operations teams to slash incident 10.0
6-Dec-16 Marius Nacht, Rafael Development Corp
response from hours to minutes.
Prevalent is a third-party risk management and cyber threat intelligence, helping organizations
17-Nov-16 Insight Venture Partners 60.0
manage and monitor security threats associated with 3rd/4th party vendors
ORIX Growth Capital, Comerica Bank, Dell, New Invincea is a creator of secure virtual containers for malware threat detection, breach prevention
16-Nov-16 10.0
Atlantic Ventures, Harbert Ventures and forensic threat intelligence.
83 North, G20 Ventures, Alex Daly, Dave Siemplify is the first end-to-end security operations platform powering today's advanced SOCs
15-Nov-16 10.0
Strohm using graph intelligence to analyze data from any source.
Georgian Partners, MassMutual Ventures, RiskIQ provides organizations the visibility and intelligence they need to secure their Enterprise
10-Nov-16 30.5
Summit Partners Digital Footprint and map their Adversaries’ infrastructure.
Indeni offers a proactive monitoring system that facilitates auto-detection and configuration,
8-Nov-16 CIRTech Fund, iAngels, Sequoia Capital 10.0
security monitoring, and remediation for security device networks.
Shasta Ventures, Bloomberg Beta, Flybridge
2-Nov-16 ValiMail authenticates legitimate email and blocks phishing attacks. 12.0
Capital Partners
TenEleven, Fairhaven Capital, Goldman Sachs, CounterTack provides real-time endpoint threat detection and response solutions to enterprises 10.0
1-Nov-16
Razor's Edge, ManTech, Siemens Venture and government organizations.
Proficio provides the most advanced cloud-based solutions to monitor and scan critical assets 12.0
26-Oct-16 Kayne Partners
without the need for added headcount or costly software and hardware systems.
ThreatMetrix is a cloud solution for authenticating digital personas and transactions on the Internet 30.0
18-Oct-16 SVB
by securing businesses and end users resulting from malware and data breaches.
Bank of Nova Scotia, BMO Capital Markets, SecureKey Technologies develops platform-as-a-service hardware and software solutions for chip- 20.6
18-Oct-16
CIBC Capital Partners, Desjardins, TD Bank based identity and payment technologies in online and mobile transactions.
GigaTrust is a provider of pervasive content security management solutions that allows 20.0
11-Oct-16 Balance Point Capital Partners
organizations to reduce risks associated with data / intellectual property loss.
Strategic Cyber Ventures, Allegis Capital, March 12.0
11-Oct-16 E8 Security helps enterprises analyze and detect advanced attacks and malicious insider activities.
Capital Partners, The Hive
Baseline Ventures, EDB Investments, EPIC Shape Security stops automated web and mobile application attacks, like credential stuffing,
29-Sept-16 40.0
Ventures, GV, KPCB, Northern Light, Venrock content scraping, and application-layer DDoS, that bypass existing defenses.
Sequoia Capital, Blue Cloud Ventures, EDB Druva Software provides data protection and governance solution for public and private clouds in
28-Sept-16 51.0
Investments, Hercules Capital, Tenaya Capital an enterprise.
General Catalyst, Acero Capital, John Thompson, Contrast Security develops application security software that stops hackers from stealing data
28-Sept-16 16.0
Paul Sagan, Ron Gula through Web applications.
Thomvest Ventures, Greylock Partners, Sequoia Skyhigh Networks is a cloud access security company, enables companies to embrace cloud
25-Sept-16 40.0
Capital services with appropriate levels of security, compliance, and governance.
White Ops provides online fraud detection solutions. It offers Real Time Dashboard, a solution
19-Sept-16 Grotech Ventures, Paladin Capital Group 20.0
that enables users to identify, track, and classify automated fraud in real time.
GGV Capital, Flybridge Capital Partners, BitSight provides a security rating platform, which analyzes external data on security behaviors that
15-Sept-16 40.0
Globespan Capital Partners, Menlo Ventures allows to manage third party risk, and benchmark performance.
Bessemer, ICV Capital, Innovation Endeavors, Claroty discovers the most granular elements. By extracting critical data, and formulating
13-Sept-16 32.0
Marker, Mitsui, Red Dot Capital Partners actionable insights, it provides visibility and brings unparalleled clarity to OT networks.
Greylock Partners, Aspect Ventures, Singtel Cato Networks provides cloud-based platform to manage multiple hardware and software
13-Sept-16 30.0
Innov8, USVP, Gur Shatz, Shlomo Kramer products and provide security against hacking, data theft and other security problems.
American Express Ventures, Menlo Ventures,
8-Sept-16 Signifyd is a SaaS-based, enterprise-grade fraud technology solution for e-commerce stores. 19.0
TriplePoint Capital
Cyence has developed an economic cyber risk modeling platform quantifying cyber risk in
8-Sept-16 NEA, Dowling Capital Management, IVP 40.0
probabilities and dollars.
Riverwood, Adams Street, Delta-v, EDB
30-Aug-16 LogRhythm provides log management and security information and event management solutions. 50.0
Investments, Exclusive Ventures, Siemens
Millennium Technology Value Partners, Centana Jumio is an identity management and credentials company that helps businesses reduce fraud and
30-Aug-16 15.0
Growth Partners increase revenue by utilizing proprietary computer vision technology.
Maverick Ventures, Arsenal, Bloomberg Beta, BlueTalon provides data-centric security for big data initiatives. It delivers precise, consistent and
25-Aug-16 16.0
Data Collective, Divergent, Signia Venture dynamic user access controls to data across Hadoop, Cassandra & SQL data platforms
Trinity Ventures, Bessemer Venture Partners, K9 Auth0 is an identity-as-a-service that authenticates and authorizes apps/APIs with any popular
24-Aug-16 15.0
Ventures, SVB identity provider running on any popular software stack on any device/cloud.
NEA, Blu Venture Investors, Center for ThreatQuotient offers a software platform that helps security teams mitigate cyber attacks by
23-Aug-16 12.0
Innovative Technology aggregating and managing intelligence on threats.
Bessemer, Blue Delta Capital, Haystack Partners, Virtru provides data encryption and digital privacy protection, keeping data sent online private for
22-Aug-16 29.0
NEA, Quadrant Capital, Soros Fund individuals and organizations.
Bat Blue is a cloud security service that leverages a unique Globally Distributed Security
18-Aug-16 Undisclosed 13.5
Abstraction Layer (Global Seal) technology to deliver uniform and consistent security.
Trident Cyber, Peloton Equity, BlueCross ID Experts provides software and services to organizations for managing cyber risks and data
18-Aug-16 27.5
BlueShield Venture, Sandbox Advantage breaches, and to consumers to protect and restore their identities from identity theft.
Pelion Venture Partners, Square Peg Capital, UpGuard analyzes data about the state of corporate networks to devise a numerical score that 17.0
11-Aug-16
Fenwick & West, IAG gives a security risk score, used by insurance companies for cyber insurance.
Tempered Networks is a security platform that enables organizations to rapidly deploy identity- 10.0
8-Aug-16 Rally Capital, IDG Ventures, Ignition Partners
based overlay networks to ‘cloak’ trusted endpoints, networks and assets.
ThinAir keeps users safe by providing insight and protection against four key vectors of data 15.0
3-Aug-16 Undisclosed
breaches: Insider Threats, Criminal Adversaries, Data Exfiltration, and Human Error.
Bessemer Venture Partners, Foundry Group, Distil Networks’s SaaS bot detection and mitigation solutions acts as a protective shield against 21.3
2-Aug-16
SVB, Techstars bots, malware and competitors that try to scrape websites without permission.
Paladin Capital Group, Bessemer Venture PhishMe provides training to employees against phishing threats enabling them to identify, report, 42.5
27-Jul-16
Partners and mitigate spear phishing, malware and drive-by threats.
Accel (Series A), Ignition Partners (Series B), Acalvio provides Advanced Threat Defense (ATD) solutions to detect, engage and respond to 17.0
26-Jul-16
Elieses (Series B) malicious activity inside the perimeter.
Deutsche Telekom Partners, HP Pathfinder, SafeBreach provides a “hacker's view” of an enterprise’s security posture to proactively predict 15.0
26-Jul-16
Maverick Ventures, Sequoia, Shlomo Kramer attacks, validate security controls and improve SOC analyst response.
StackPath is a web services platform that unifies enterprise security, leveraging collaborative 180.0
25-Jul-16 ABRY Partners, Insiders
intelligence to make each service smarter/more secure with every threat detected.
Insight Venture Partners, Spark Capital, Union Sift Science offers large-scale machine-learning technology services that help e-commerce 30.0
19-Jul-16
Square Ventures businesses detect and fight fraud.
19-Jul-16 83North, Battery Ventures, Cisco Investments GuardiCore provides network security solutions for software-defined data centers. 20.0
Foundation Capital, Shasta Ventures, New York Skycure is a predictive mobile threat defense company that actively detects and prevents mobile
19-Jul-16 16.5
Life Insurance, Pitango, Lane Bess cyberattacks while preserving user privacy and experience.
Accelerate IT Ventures, Grayhawk Capital, Blue Cedar Networks develops / operates Atlas platform, an end-to-end application security and
19-Jul-16 11.0
Benhamou Global, Generation Ventures connectivity solution to protect assets across the extended enterprise.
Silent Circle is a global encrypted communications service that provides cutting-edge encrypted 50.0
15-Jul-16 Santander Bank
text, e-mail, mobile phone and video teleconferencing services.
Bay Dynamics develops automated cyber security and risk solutions for enterprises, by turning 23.0
13-Jul-16 Carrick Capital Partners, Comcast Ventures
enterprise data into actionable information risk intelligence.
Vertex Ventures, Aspect Ventures, Magma Indegy provides visibility and security for industrial control networks to ensure operational 12.0
13-Jul-16
Venture Partners, Shlomo Kramer continuity and reliability.
Greycroft Partners, Bloomberg Beta, Cisco, Jump Flashpoint’s Deep & Dark Web data, expertise and technology enable organizations to glean 10.0
12-Jul-16
Capital, K2 Intelligence, Tech Operators intelligence that informs risk and protects their ability to operate.
7-Jul-16 AM Partners, VMS Investment Group Post-Quantum, provides data confidentiality, authenticity, and access control solutions. 10.3
Twistlock develops a security suite for virtual container security in enterprises that enables 10.0
6-Jul-16 TenEleven Ventures, Rally Ventures, YL Ventures
developers and security operations teams to keep container-based applications safe.
KKR, Hoxton Ventures, Softbank, Summit Darktrace’s Enterprise Immune System technology automatically detects and responds to emerging 64.0
5-Jul-16
Partners, TenEleven Ventures threats, powered by machine learning and mathematics from Univ. of Cambridge.
Blackstone Ventures, Cisco Investments, Verodin is defining the emerging concept of instrumented security, enabling customers to measure 10.0
28-Jun-16
Crosslink Capital, Rally Ventures and continuously validate the cumulative effectiveness of layered security.
GV, Boldstart Ventures, Evolution Equity Security Scorecard provides a cybersecurity rating and continuous risk monitoring platform 20.0
23-Jun-16
Partners, Sequoia Capital, Two Sigma allowing enterprises to gain operational command of their security posture.
Access Industries, Amplify Partners, Battery LightCyber provides behavioral attack detection solutions and the first to integrate user, network 20.0
22-Jun-16
Ventures, Glilot Capital, Shlomo Kramer and endpoint context to provide security visibility into attack activity.
Zerto provides enterprise-class business continuity and disaster recovery solutions for virtualized
21-Jun-16 CRV 20.0
infrastructure and cloud.
20-Jun-16 Delta-v Capital, LiveOak Venture Partners NSS Labs is an independent, information security research and testing organization. 16.0
Tigera is solving networking and security problems inherent in deploying and enforcing policy in
16-Jun-16 NEA, Wing 13.0
large private, public, and hybrid enterprise clouds.
Insight, Blackstone, Capital One, Ten Eleven, Cylance utilizes artificial intelligence, algorithmic science and machine learning to proactively
8-Jun-16 100.0
DFJ, KKR, Fairhaven, Khosla protect organizations against advanced threats.
ReliaQuest is a pioneer in IT security solutions, ensuring that organizations remain secure and
7-Jun-16 FTV Capital 30.0
compliant as the IT world changes.
Warburg Pincus, Lazarus Israel Opportunities Zimperium is a mobile security startup that develops a mobile IPS to combat advanced modern
7-Jun-16 25.0
Fund, Sierra Ventures, Telstra Ventures cyber attacks on smartphones.
Amazon, Goldman Sachs, GV, Hayman Capital, Ionic Security, a data security platform, provides access control, intellectual property monitoring,
1-Jun-16 45.0
Icon Ventures, KPCB, Meritech data encryption, and policy management.
Transunion, Bessemer Venture, Firstmark Capital, Dashlane makes identity and payments simple and secure everywhere with its password manager
25-May-16 22.5
Rho Ventures and secure digital wallet.
Norwest, Greylock Partners, Alloy Ventures, Agari leverages the company’s proprietary, global telemetry network and patent-pending
24-May-16 22.0
Battery Ventures, First Round, Scale Venture predictive Agari Trust Analytics to identify and stop phishing attacks.
Redline Capital, Telstra Ventures, Work-Bench, vArmour provides software-defined security solutions for virtualized data centers and government
24-May-16 41.0
Allegis, Citi Ventures, Highland Capital cloud operators.
StageOne Ventures, Magma, Greenfield Cities
17-May-16 AVANAN is a stealth mode startup that offers enterprise-grade security for data in the cloud. 14.9
Holdings
Wickr is a secret messaging app allowing its users to send and receive top-secret messages,
12-May-16 Sand Hill Ventures 34.0
pictures, videos, audios, and files.
Fairhaven Capital, .406 Ventures, MassMutual Pwnie Express provides full threat detection of every wireless and wired device in and around your
11-May-16 12.9
Ventures, Ascent Venture Partners workplace.
Security First offers data protection and data integrity, secure information sharing, secure digital
10-May-16 Undisclosed 14.8
communications, data in motion security, and data at rest security solutions.
Evident.io provides continuous cloud security for AWS, enabling rapid detection/remediation of
28-Apr-16 Bain Capital, True Ventures, Venrock 15.7
risks, vulnerabilities, & compliance issues.
Helion Venture Partners, India Alternatives, Seclore’s Enterprise Digital Rights Management solution enables organizations to control the usage
27-Apr-16 12.0
Sistema Asia Fund, VenturEast of files wherever they go, both within and outside of organizations’ boundaries.
NewSpring Capital, Atlanta Equity, Flybridge VidSys provides a physical security information management (PSIM) and converged security and
26-Apr-16 11.0
Capital Partners, Jvax Investment Group information management (CSIM) software platform.
Institutional Venture Partners, General Catalyst, Anomali’s platform is a security intelligence solution that aggregates millions of threat indicators
21-Apr-16 30.0
GV, Paladin Capital Group into existing security systems.
Scale Venture Partners, NEA, Sequoia, Forter's platform uses cyber intelligence combined with behavioral and identity analysis to help
21-Apr-16 32.0
Commerce Ventures, Eleven Two Capital merchants spot fraudulent transactions.
Blackbird Ventures, Costanoa, Paladin, Rally Bugcrowd's Crowdcontrol platform safely orchestrates a flexible array of managed bug bounty,
20-Apr-16 15.0
Ventures, Salesforce, Industry Ventures penetration test, and responsible disclosure offerings.
Threat Stack provides a fully integrated, cloud-native continuous monitoring solution that gives
15-Apr-16 Scale Venture Partners, .406 Ventures 15.4
customers instant visibility and automatically responds to changes in their environment.
Onfido's identity verification software, powered by machine learning technology, verifies peoples
14-Apr-16 Idinvest Partners, Crunchfund, Wellington Foods 25.0
identities before running further searches(i.e. Criminal/Anti-Money-Laundering).
Highland Capital Partners Europe, Auriga Nexthink provides smarter IT through analytics. Captures all local and network activities in real-
13-Apr-16 40.0
Partners, Galeo-Ventures, Waypoint Capital time across all endpoints and transforms end-user data into actionable analytics.
Advantech Capital, Qiming Venture, China FraudMetrix develops online software solutions for anti-theft and fraud management applications
13-Apr-16 32.0
Broadband, IDG Capital, Linear Venture in financial, insurance, payment, and online shopping.
Vertex Ventures, Data Collective, Andy PerimeterX is a provider of behavior-based threat protection technology. Its PerimeterX Bot
11-Apr-16 12.0
Bechtolsheim Defender, accurately protects commerce, media and enterprise websites from any attack.
7-Apr-16 ARBY Partners Edgile provides strategic security and risk consulting services to Fortune 500 companies. 35.0
Drive Capital, Healthy Ventures, SVB, Khosla CrossChx is identity resolution for smarter healthcare, it creates a universal patient ID to organize
6-Apr-16 15.5
Ventures, Moonshots Capital, NCT Ventures healthcare data and enable a new breed of innovative applications.
A16z, Highland Capital, Intel Capital, Silver Lake Bromium’s endpoint protection solutions automatically create hardware-isolated micro-VMs that
24-Mar-16 40.0
Waterman, Lightspeed, Meritech Capital secure every user task.
GV, Cisco, Index Ventures, Intel Capital, Skyport Systems develops Hyper-Secured Infrastructure that ensures the security of mission-critical
15-Mar-16 30.0
Northgate, Sutter Hill Ventures, Thomvest IT assets, with tight integration of compute, security, virtualization and policy.
Pelion Venture Partners, Madrona Venture
14-Mar-16 ICEBRG is a stealth network security company. 10.0
Group
Menlo Ventures, QED Investors, IA Ventures,
25-Feb-16 Signifyd is a SaaS-based, enterprise-grade fraud technology solution for e-commerce stores. 20.0
Allegis Capital, Tim Eades, Bill McKiernan
Qihoo 360 Technology, Shanghai Ziyou
17-Feb-16 360 Security provides mobile security applications. 100.0
Investment Management
Qumra Capital, Entree Capital, Genesis Partners, Riskified operates a technology platform for online merchants that is used to prevent fraudulent
10-Feb-16 25.0
Phoenix Insurance, NTT DOCOMO and other transactions of risk.
Sutter Hill Ventures, Clear Venture Partners, Vera operates as a data-security company that enables enterprises, IT organizations, and end-users
10-Feb-16 21.0
Battery Ventures, Amplify Partners to secure and share digital information across platforms and devices.
Bain Capital Partners, Commerce Ventures, InAuth is the most complete mobile authentication and anti-fraud solution offering multiple
10-Feb-16 29.9
Lightspeed Venture Partners security options to financial institutions and the mobile transaction market.
Trinity Ventures, Ten Eleven Ventures, Storm Digital Shadows provides cyber situational awareness that helps organizations protect against
9-Feb-16 14.0
Ventures, Passion Capital cyber attacks, loss of intellectual property, and loss of brand integrity.
Symantec is a global provider of security and systems management solutions that help businesses
4-Feb-16 Silver Lake Partners 500.0
and consumers secure and manage their information and identities.
Goldman Sachs, Accel, NEA, Bay Partners, Sonatype helps development organizations intelligently source, manage, assemble, secure and 30.0
4-Feb-16
Hummer Winblad, Morgenthaler Ventures maintain open source and third-party components.
Skybox Security provides integrated security solutions that provide visibility of exploitable attack 96.0
3-Feb-16 Providence Equity Partners
vectors, hot spots of vulnerabilities, network misconfigurations and risky firewall rules.
Cisco, Edison Partners, Georgian Partners, eSentire protects mid-sized organizations from sophisticated cyber threats in real-time 24/7 by 19.5
3-Feb-16
VentureLink, Northleaf Capital Partners leveraging behavioral, reputational and signature-based capabilities.
Carbon Black provides endpoint threat detection, response, and prevention solutions to detect 14.0
3-Feb-16 Undisclosed
and stop cyber threats.
Foundation Capital, Eddy Shalev, Gilat 10.0
1-Feb-16 Kaymera provides military-grade cyber defense solutions for mobile devices.
Opponent
Google Capital, IVP, Felicis Ventures, A16z, Citi 80.8
28-Jan-16 Pindrop Security provides caller-ID products to detect, report, and mitigate phone fraud.
Ventures, GV
Lightspeed Venture Partners, Norwest Venture Fireglass’ Threat Isolation Platform eliminates common attack vectors against browsers, emails, 20.0
26-Jan-16
Partners, SingTel Innov8 documents and web applications.
ForeScout enables organizations to continuously monitor and mitigate security exposures and
21-Jan-16 Wellington Management 76.0
cyber attacks
Malwarebytes develops anti-malware technologies to detect and remove malicious programs from
21-Jan-16 Fidelity Investments 50.0
PCs.
20-Jan-16 Global Emerging Markets Limited WISeKey develops online security and identity management solutions worldwide. 61.0
StorageCraft provides best-in-class backup, disaster recovery and business continuity solutions for
13-Jan-16 TA Associates 187.0
servers, desktops and laptops.
IVP, 83North, Battery Ventures, Harmony Zerto provides enterprise-class disaster recovery and business continuity software for virtualized
13-Jan-16 50.0
Partners, USVP, ClalTech, RTP Ventures data centers and cloud environments.
Cavirin provides continuous security assessment and remediation across physical, public, and
1-Jan-16 SRA Holdings 18.0
hybrid clouds.
Blue Coat, Knollwood Investments, Venrock, Appthority develops application security solutions that help businesses identify the risks hidden 10.0
31-Dec-15
USVP inside mobile applications.
Trustbridge Partners, Danhua Capital, Linear Trustlook develops a static analysis platform for detecting suspicious behavior and malicious 17.0
16-Dec-15
Capital Partners, Sparkland Ventures characteristics for Android operating systems.
Brookline Venture Partners, Fairhaven Capital 66.0
16-Dec-15 Digital Guardian provides data security solutions to protect data from insider and outsider threats.
Partners, GE Pension Trust, LLR Partners
American Express Ventures, BDC Venture 15.0
15-Dec-15 Trulioo provides an online portal for identity verification services.
Capital, Blumberg Capital, Tenfore Holdings
NewSpring Capital, Alsop Louie Partners, Lookingglass Cyber Solutions develops cyber threat intelligence monitoring and management 50.0
11-Dec-15
Neuberger Berman platforms.
Amadeus Capital Partners, Aspect Venture ForeScout enables organizations to continuously monitor and mitigate security exposures and 75.4
9-Dec-15
Partners, Bain Capital Ventures cyber attacks.
Core Capital Partners, Genacast Ventures, ZeroFOX provides real-time social threat analytics, intelligence, and advanced security protection 27.0
3-Dec-15
Highland Capital Partners, NEA, SVB via its cloud-based cyber platform.
Avecto's Defendpoint software protects endpoints from malware and cyberattacks through 49.0
2-Dec-15 JMI Equity
privilege management, application control and sandboxing technology.
Blu Venture Investors, NEA, Center for ThreatQuotient offers a software platform that helps security teams mitigate cyber attacks by 10.2
2-Dec-15
Innovative Technology aggregating and managing intelligence on threats.
ThreatConnect provides a cyber threat intelligence platform that allows global organizations to 16.0
1-Dec-15 Grotech Ventures, SAP National Security Services
manage massive amounts of threat information.
Alibaba, GE Ventures, Jérusalem Venture Theta Ray offers malware detection and prevention solutions for critical infrastructure, 20.0
1-Dec-15
Partners, Poalim Ventures communication systems, and financial systems.
Tola Capital, Arsenal Venture, Crosslink Capital, ProtectWise provides a pervasive view of the network, layered with refined analytics and a clear 20.0
17-Nov-15
Paladin Capital, Trinity Ventures interface that enables high performance threat hunting and accelerated incident response.
Menlo Ventures, Jerusalem Venture Partners, AppDome’s dynamic wrapping SaaS technology provides shield to enterprise and consumer-facing 13.0
11-Nov-15
OurCrowd, Draper Nexus apps from advanced cyber threats, mobile fraud, and data theft.
Norwest Venture Partners, Invus Group, TigerText provides security software for text messaging for physicians to use on their mobile 50.0
11-Nov-15
Accolade Partners, Shasta Ventures, REV devices.
Tenable Network Security specializes in developing software that enables real-time network 250.0
10-Nov-15 Insight Venture Partners, Accel Partners
monitoring to detect hackers and other malicious actors.
Costanoa Ventures, Foundation Capital, Split Guardian Analytics is provider of fraud prevention software for protecting online channels and 10.9
9-Nov-15
Rock Partners, Triangle Peak Partners accounts.
iboss Cybersecurity provides innovative APT Defense, Web Security and Mobile Security 35.0
3-Nov-15 Goldman Sachs
Solutions.
Foundation Capital, Matrix Partners, Northbridge Confer provides endpoint detection and response solution (EDR) that proactively identifies attacks 17.0
2-Nov-15
Venture Partners and provides real-time visibility across all endpoints.
30-Oct-15 Merck Global Health Innovation Fund Exostar develops B2B information sharing software. 15.0
Lumeta provides network situational awareness platform which is source for enterprise network 13.0
29-Oct-15 Undisclosed
infrastructure and cybersecurity analytics.
Cato Networks provides cloud-based platform to manage multiple hardware and software 20.0
27-Oct-15 Aspect Venture Partners, US Venture Partners
products and provide security against hacking, data theft and other security problems.
SourceClear develops software security platform for developers that help organizations identify 10.0
27-Oct-15 Index Ventures, Storm Ventures
components across software portfolio.
IronNet Cybersecurity provides suite of technologies that provide real-time threat assessment and 32.5
25-Oct-15 Trident Cybersecurity, KPCB
updates and consulting services.
Icon Ventures, Allegis Capital, Cowboy Ventures, Area 1 Security provides campaign delivery systems and allows enterprises to identify cyber attacks 15.0
14-Oct-15
KPCB, First Round Capital and other attacking campaigns before they unfold using their anti phishing platform.
.406 Ventures, Accomplice, KPCB, Highland Carbon Black provides endpoint threat detection, response, and prevention solutions to detect 54.5
14-Oct-15
Capital, Evolution Equity Partners and stop cyber threats.
Fidelity Management, Goldman Sachs, Allegis Bracket Computing’s Virtual Infrastructure Software spans multiple heterogeneous clouds with one
14-Oct-15 46.4
Capital, A16z, NVP, Sutter Hill, GE, ARTIS set of advanced security, data management, and networking infrastructure.
DataVisor provides big data security analytics to help protect consumer-facing websites and
13-Oct-15 GSR Ventures, NEA 14.5
mobile apps from cyber criminals.
Cybereason delivers a technology platform that automatically uncovers malicious operations,
13-Oct-15 Charles River Ventures, Softbank, Spark Capital 59.0
reconstructing them as a clear image of a cyberattack in context.
Third Point, Granite Hill, SineWave Ventures, Sentinel One uses predictive execution inspection to detect and protect all devices against
7-Oct-15 25.0
Data Collective, Tiger Global, UpWest targeted zero day threats in real-time.
JMI Equity, NEA, Split Rock Partners, Accel Code42 Software provides secure cloud services for endpoint data protection and security that
6-Oct-15 85.6
Partners, allow their users to limit risk, meet data privacy regulations, and recover from data loss.
Total Amount Raised ($M) 7,834.0
Median Amount Raised ($M) 20.0
September 21, 2017 September 20, 2017 September 20, 2017 September 19, 2017 September 19, 2017 September 5, 2017 August 30, 2017 August 29, 2017
StackRox
August 22, 2017 August 17, 2017 August 14, 2017 August 1, 2017 August 1, 2017 July 27, 2017 July 25, 2017 July 18, 2017
July 17, 2017 July 12, 2017 July 12, 2017 July 12, 2017 July 11, 2017 July 11, 2017 July 11, 2017
Raises $26.0M in Series C Financing.
Founders / Monitor widest range of sources A register of key assets that Intelligence operations analysts lift
Management across the visible, deep, and dark uniquely define organizations, signal from noise, strip out false
web. Identify a variety of digital subsidiaries and supply chains alarms & send priority cases, thus
risks, including cyber threats, data drives intelligence machinery saving time & money
Alastair Paterson James Chappell Daniel Moskowitz Daniel Lowden Rick Holland
CEO and Co-Founder CTO & Co-Founder CFO CMO VP, Strategy
exposure, & reputational risks
Digital Shadows
Configuration Service
Approach
HQ San Francisco, CA & London, United Kingdom
Understand what is important and Continuously monitor organization’s Enables swift action, to help
Amount Raised $48.5M in 5 Rounds create a tailored configuration to digital shadow, identifying incidents minimize the loss of revenue,
tune SearchLight to meet your as they occur, delivering only brand damage, loss of
needs relevant alerts and reports customer trust & data
Digital Shadows Features
Funding Summary: $48M
Tailored Threat Intelligence Identification of Data Exposure Typosquatting Identification Date Stage Amount Raised ($M) Selected Investors
Dark Web Search Mobile App Monitoring Credential Compromise Real-Time Alerts Feb 2016 Series B 14.0
Insider Threat Management Identity & Access Analytics Privileged Account Analytics Cyber Event Intelligence SIEM
▪ Data theft detection and ▪ Cleanup rogue access ▪ Continuous real-time Funding Summary: $29M
prevention privileges privileged account
▪ Fraud detection and ▪ Risk-based access reviews Analytics Date Stage Amount Raised ($M) Selected Investors
prevention ▪ Risk-based access ▪ Service account abuse
▪ VIP snooping detection and certifications monitoring
Sep 2017 Series A 29.0
prevention ▪ Risk-based access requests ▪ Securonix for Lieberman
Authorization and
Workflow Engine IoT Identity Gateway High Availability
UMA Provider
Founders /
Management
Self-Service & Profile Password Capture &
Mike Ellis Lasse Andresen John Fernandez Jeff Scheel Steve White Adaptive Risk Data Segmentation
Management Replay
Chairman & CTO & Co- CFO & EVP SVP Global Biz & VP Chief Security
CEO Founder Global Ops Corp Dev Officer
HQ San Francisco, CA
Amount Raised $140.2M in 4 Rounds Social Reregistration Federated Service
Social Sign-On Directory Proxy
and Authentication Provider
Industry-Agnostic Solutions
Funding Summary: $140.2M
Date Stage Amount Raised ($M) Selected Investors
Founded 2012
Continual Monitoring API Access
HQ San Francisco, CA
Continual monitoring ensures that clients API access enables us to deliver better
Amount Raised $66.0M in 3 Rounds are aware of their true network boundary insights straight into your cybersecurity
and alerted to changes at any given time workflows and tools in real time
Understanding Your True Network Boundary – Why Qadium?
Core Networks Shadow IT Third Party Hosting Funding Summary: $66.0M
Large Organizations don’t know Employees often violate Infrastructure managed by 3rd Date Stage Amount Raised ($M) Selected Investors
their full surface area & rarely corporate policy in good faith parties and cloud pose challenges
Aug 2017 Series B 40.0
conduct IP ranges for central IT monitoring
Merger & Acquisition Leaked Internal Assets IoT Devices Jun 2016 Series A 23.3
M&A events involve opaque, labor Perimeter security Large organizations unknowingly
Aug 2015 Seed 6.0
intensive IT integration processes misconfigurations routinely result expose to public their IoT assets
with incomplete, asset lists in organizations placing internal like building automation devices, Jan 2012 &
Grant 1.2
assets on the web teleconferencing equipment, etc. Jan 2014
Founders /
Management
Actionable IoT
Xu Zou May Wang Jianlin Zeng Mayuresh Ektare Giancarlo Chavez Self-Learning Deep Learning Intelligence
CEO & CTO & VP, Engineering & VP, Product Head, Sales Uses AI and Deep Completely unsupervised Leverages existing
Co-Founder Co-Founder Co-Founder Management Learning Algorithms Deep Learning network and security
infrastructure
Founded 2014
HQ Mountain View, CA
Risk Exposure Trusted Behavior
Amount Raised $31.9M in 3 Rounds Non-Disruptive Organization-level risk
Enforces acceptable behavior
Agentless, Seamless consistent with each device’s
assessment
profile
ZingBox IoT Guardian
50 TB of IoT traffic Seamless and Non-Disruptive
analyzed everyday The FIRST IoT security solution to eliminate the Funding Summary: $31.9M
cost & complexity of software agents Date Stage Amount Raised ($M) Selected Investors
Smart & Self-Learning
The ONLY unsupervised Deep Learning solution Aug 2017 Series B 21.7
to discern the individual personality of device
2.5 PB of total IoT Nov 2015 Series A 8.0
traffic analyzed to Service Protection
The industry’s FIRST solution to protect IoT
date services – not just data
Dec 2014 Seed 2.2
Authentication
Founders /
Management Biometric PIN OTP
Zia Hayat Ian Welch Paul Fletcher Christopher Hutton Julio Sevillano Srinivas Ketavarapu Replay resistant finger, face Secure PIN provides a OATH compliant OTPs are
CEO & Founder COO Head of Products Chief Solutions Head of Mobile VP, Bus. Dev. and voice recognition familiar user experience, in delivered to users in several
Engineer deliver the next generation line with the EMVCo ways, including Mobile App,
of authentication standard USB, LCD, SMS and Call
Founded 2011
HQ London, UK Technology
Amount Raised $38.5M in 2 Rounds Crypto Engine Neural Engine Policy Engine
All cryptographic functions Uses more than 50 data By implementing critical
Callsign User Advantages across iOS and Android and elements in real-time to workflows, the Policy Engine
server sides are performed in a pinpoint suspicious activity, empowers risk officers to easily
fully audit-able manner accessing risk of device manage controls
App Server
80 PX Risk Score
Founders /
Management 1. Deploy 2. Sense
Omri Iluz Ido Safruti Ophir Ashkenazi Jonathan Ferrell Amir Shaked ▪ Load Perimeter Bot Defender’s sensor to your ▪ Sensor collects and sends data to evaluate
CEO & Co- CTO & Co- CFO & Co- VP, Sales VP, Research
Founder Founder Founder
website browser, user and network activities
▪ Takes only five minutes to get started ▪ Dashboard shows all normal and malicious
Founded 2014 bot activities in real-time
HQ San Mateo, CA
3. Detect 4. Enforce
Amount Raised $34.5M in 3 Rounds
▪ Evaluates sensor data in real-time using ▪ Risk Score is picked up by the PerimeterX
machine learning and behavioral analysis enforcer
PerimeterX Advantages ▪ Creates a Risk Score to identify whether a user ▪ Based on the score, the user is blocked or
is malicious or not, sent in an encrypted challenged
Diagnose the cookie back to the user’s browser ▪ Able to incriminate or exonerate the user
Defend Your
Detect Bot User as Deploy in based on the nature of the page and threat
Website and
Behavior Human or Minutes
Business
Malicious Bot Funding Summary: $34.5M
▪ Unparalleled accuracy ▪ Human vs. bot ▪ Prevent attacks that ▪ Hassle-free ongoing Date Stage Amount Raised ($M) Selected Investors
and precision behavior fingerprinting do not trigger maintenance
Jul 2017 Series B 23.0
▪ 100s of indicators and analysis security mechanisms ▪ Fully compatible with
from users, browsers, ▪ Detection of advanced ▪ Future proof against existing infrastructure Sep 2015 Series A 9.0 Andreas Bechtolsheim
devices and network automated attacks new automated including cloud and
attacks CDN solution Jan 2015 Seed 2.5
Founders /
Management
Michael Callahan
Keith Amidon Debabrata Dash Gary Golomb Rudolph Araujo
Co-Founder &
Co-Founder & Co-Founder & Co-Founder & Chief VP, Marketing
CEO
VP, Networking VP, Analytics SOC Whisperer
James C. Foster Mike Price Tim Bender Jon Fraleigh Gabe Goldhirsh
CEO CTO CFO EVP, WW Field EVP, Global Data Sources Policies & Rules Integrations
Operations Services ▪ Social networks ▪ Spear phishing ▪ Security Operations Center
▪ Deep & dark web ▪ Spoofed accounts ▪ SIEM platforms
Founded 2013
▪ Mobile app stores ▪ Credential compromise ▪ IBM QRadar & ArcSight
HQ Baltimore, MD ▪ Collaboration & chat platforms ▪ Account takeover ▪ Analytics platforms
▪ Web domains ▪ Brand impersonations ▪ Threat intelligence platforms
Amount Raised $80.2M in 4 Rounds ▪ Facebook & Google ▪ Physical threats ▪ Firewall/IDS/IPS
Customer attacks Security platforms
ZeroFOX Platform ▪ ▪
D-Brain D-Appliance D-Client ▪ Enables on-device, connectionless, lightweight, ▪ Continuously learns to deliver unprecedented
real-time cyber threat prevention accuracy to secure all assets
▪ Core component of deep ▪ Provides visualization and ▪ Enables on-device, ▪ Acts proactively and automatically according to ▪ Instantly detects zero-day threats before an
learning solution management tool to configure connectionless, lightweight, real- organization policies attack can take place
▪ Continuously learns on malware organization’s security policy time cyber threat prevention
datasets from diver sources ▪ Enables in-depth monitoring of ▪ Scans the device and acts Funding Summary
▪ Hosted at company headquarters cyber threats proactively and automatically
▪ Manages devices, security events, according to organization policies Date Stage Amount Raised ($M) Selected Investors
and security compliance policy in
the same place Jul 2017 Series B 32.0
HQ New York, NY
Subject Matter Experts Combined with Expansive coverage of Combination of in- Combines intimate
Amount Raised $43.0M in 3 Rounds are embedded in illicit targeted Deep & Dark We provides a depth expertise with familiarity with
Deep & Dark Web Dark Web robust view into a complex techniques and insiders’ techniques
communities, monitoring, company’s ecosystem tactics to proactively with targeted
Flashpoint Features providing insights into Flashpoint’s expertise and rapidly assesses mitigate the most monitoring of Dark
malware development helps identify and risks complicated fraud Web to protect against
mitigate physical risk schemes insider threats
Intelligence Reporting Curated Alerting Analyst Assistance API & Portal Jul 2017 Series C 28.0
Analysts most critical Comprehensive monitoring Directly access our analyst Tools to access and perform
Jul 2016 Series B 10.0
findings, hand-picked and relevant reporting, team for customized threat research on Deep & Dark
prioritized, and packaged in tailored to organization’s investigations Web data in order to
intra-daily reports needs discover valuable insights Apr 2015 Series A 5.0
Network
Data
Threat Classifier
350+ Dimensions
Darkflow
Founded 2013
Data Capture
Virtual
Device Modeling 3D Threat
HQ San Francisco, California & Cambridge, United Kingdom Cloud
Visualization Notifications
Amount Raised $179.5M in 4 Rounds SaaS Network Modeling
Enrichment Data API
Model Editor
Key Statistics Raw Packet Capture for Forensics
Deploy sensors wherever you need Detect evasive malware, regardless Respond Faster to new threats
unmatched malware visibility of how advanced more accurately
Founders / Collect malicious content in Unmatched accuracy: 100% threat Respond Smarter against latest
Management emails, web content, and network detection in NSS Detection Test malware
Christopher Kruegel Giovanni Vigna Engin Kirda Brian Laing George Chitouras traffic, including the cloud
Co-Founder & CEO Co-Founder & CTO Co-Founder & VP, Business Dev. VP, Engineering Global Threat Intelligence Respond Better and create new
Chief Architect & Products Collect from existing devices, Network: Malware is analyzed and workflows to automatically block
expanding your visibility shared with all Lastline customers new threats
Founded 2011
HQ Redwood City, CA Lastline Enterprise detects and defeats advanced malware that easily evades other security products to
Amount Raised $52.2M in 6 Rounds infiltrate your network
*Momentum Partners, LLC. Securities offered through Financial Telesis Inc. Member FINRA/SIPC .