Investments and insights.
$262M RAISED | 11 DEALS | 5 COUNTRIES
- CyberFOX has secured "a nine-figure growth investment" from Level Equity.
- TRM Labs has raised $70 million in a Series C round led by Blockchain Capital.
- RapidFort has raised $42 million in a Series A round led by Blue Cloud Ventures and Forgepoint Capital.
- Outtake has raised $40 million in a Series B round led by ICONIQ.
- Orion has secured $32 million in a Series A round led by Norwest Venture Partners.
- RADICL has raised $31 million in a Series A round led by Paladin Capital Group.
- Kasada has raised $20 million in a funding round led by EQT and existing investors.
- heyData has raised $16.5 million in a Series A round led by Riverside Acceleration Capital.
- Airrived has emerged from stealth with $6.1 million in seed funding led by Cannage Capital.
- Pallma AI has raised $1.6 million in a pre-seed round led by Marathon Venture Capital.
CyberFOX, a Florida-based company that provides cybersecurity services for MSPs and SMBs, has secured "a nine-figure growth investment" from Level Equity, with participation from Radian Capital and CyberFOX’s founders, Dave Bellini and Adam Slutskin. The company did not disclose the dollar amount, noting that this is CyberFOX's first external capital raise. CyberFOX says it "will leverage this substantial capital injection to build on this amazing momentum and accelerate product development, AI initiatives, international expansion, and pursue strategic acquisitions to broaden its product suite and functionality."
TRM Labs, a San Francisco-based blockchain intelligence firm focused on tracking criminal cryptocurrency transactions, has raised $70 million in a Series C round led by Blockchain Capital, with participation from new investor Galaxy Ventures and returning investors CMT Digital, Goldman Sachs, Bessemer Venture Partners, DRW Venture Capital, Y Combinator, Thoma Bravo, Alumni Ventures, Citi Ventures, and Brevan Howard Digital. The funding brings TRM's valuation to over $1 billion. The company says the money will go toward advancing its capabilities and "expanding its team of AI researchers, data scientists, engineers, and domain experts in financial crime, investigations, and national security."
San Francisco-based software supply chain security firm RapidFort has raised $42 million in a Series A round led by Blue Cloud Ventures and Forgepoint Capital, with participation from Felicis Ventures, Alumni Ventures, Boulder Ventures, Brave Capital, Evolution Ventures, Florida Funders, Gaingels, and Mana Ventures. The company says the funding "will accelerate RapidFort’s next phase of growth across product innovation, platform expansion, and enterprise adoption."
New York City-headquartered agentic AI security company Outtake has raised $40 million in a Series B round led by ICONIQ, with participation from CRV, S32, and angel investors. The company says the funding "will help Outtake expand its team across engineering, product, and go-to-market teams, deepen its platform capabilities, and support growing global demand."
Israeli data loss prevention startup Orion has secured $32 million in a Series A round led by Norwest Venture Partners, with participation from IBM and existing investors, including PICO Venture Partners, Lama Partners, and Underscore VC. The company stated, "The funding will enable us to accelerate development of our proprietary LLMs and specialized AI agents while expanding go-to-market operations to meet growing enterprise demand for our autonomous DLP."
Colorado-based cybersecurity provider RADICL has raised $31 million in a Series A round led by Paladin Capital Group, with participation from new investor Cervin Ventures and existing investors Access Venture Partners and Denver Ventures. The company says the "funding will accelerate the development of RADICL’s autonomous virtual security operations center (vSOC), built specifically for SMBs supporting the U.S. Defense Industrial Base."
Australia- and New York-based bot mitigation company Kasada has raised $20 million in a funding round led by EQT and existing investors, including Ten Eleven Ventures, Main Sequence Ventures, Reinventure, Our Innovation Fund, the StepStone Group, and Turnbull & Partners. Kasada says the funding will enable the company "to continue its expansion into new markets and accelerate new product capabilities across fraud prevention and agentic defense."
German data security compliance firm heyData has raised $16.5 million in a Series A round led by Riverside Acceleration Capital. The company says it will use the funding to enhance its product and expand across Europe.
Dublin, California-based agentic AI security startup Airrived has emerged from stealth with $6.1 million in seed funding led by Cannage Capital, with participation from Plug and Play Ventures, Rebellion Ventures, Inner Loop Capital, and angel investors.
London-based vulnerability management startup Aisy has emerged from stealth with $2.3 million in seed funding from Osney Capital, Flying Fish Ventures, and 6 Degrees Capital. The company says the funding "enables the business to shape the product around complex customer needs and further build out a team of machine learning engineers and security experts to scale its R&D and delivery."
London-headquartered agentic AI security startup Pallma AI has raised $1.6 million in a pre-seed round led by Marathon Venture Capital.
Mergers and acquisitions.
4 DEALS | 3 COUNTRIES
- LevelBlue will acquire Houston-based managed detection and response (MDR) provider Alert Logic from Fortra.
- Varonis has agreed to acquire Canadian AI security firm AllTrue.ai.
- Semperis has acquired Irvine, California-based identity and access management company MightyID.
- Westcon-Comstor has acquired Slovenian cybersecurity distributor REAL Security.
Dallas-based MSSP LevelBlue will acquire Houston-based managed detection and response (MDR) provider Alert Logic from Fortra. LevelBlue shared news of the acquisition alongside the announcement of a long-term strategic partnership with Fortra. The company stated, "LevelBlue’s expanded MDR platform, strengthened through recent acquisitions, will provide Alert Logic’s client base with access to a larger global footprint, broader threat telemetry, and accelerated detection and response across complex environments. In parallel, Fortra will become one of LevelBlue’s leading cybersecurity partners, making its best-in-class software and platforms available to LevelBlue’s global client base."
Miami-based data security provider Varonis has agreed to acquire Canadian AI security firm AllTrue.ai. Varonis stated, "AllTrue.ai brings real-time visibility and security to AI systems, complementing Varonis’ deep understanding of enterprise data, identities, and access. Together, the combined platform helps organizations see and protect everything they build and run with AI." The Wall Street Journal reports that the deal is valued at $125 million in cash.
New Jersey-based Active Directory security firm Semperis has acquired Irvine, California-based identity and access management company MightyID. The company says the acquisition "allows Semperis to extend true cyber resilience with identity-first security and crisis management across complex hybrid identity environments, including Microsoft Active Directory (AD), Entra ID, Okta, and Ping."
London-based technology distributor Westcon-Comstor has acquired Slovenian cybersecurity distributor REAL Security. The UK company says the "acquisition marks Westcon-Comstor’s entry into the Balkans, adding proven local capability to its global cybersecurity business."
Executive moves.
ConductorOne has appointed William Bengtson as CISO. Bengtson most recently served as Vice President of Platform and Security Engineering at HashiCorp.
Torq has appointed former Virgin Atlantic CISO John White as Field CISO.
One Identity has named Gihan Munasinghe as Chief Technology Officer.
Intel 471 has promoted its Chief Intelligence Officer, Michael DeBolt, to President. DeBolt will continue to serve as Chief Intelligence Officer alongside his role as President.
SpyCloud has appointed Trevor Hilligoss and Jason Lancaster to the newly created roles of Chief Intelligence Officer and Chief Investigations Officer, respectively.
Okta has hired Ely Kahn as Chief Product Officer. Kahn previously served as CPO at SentinelOne.
Dragos has named Dawn Mitchell as Chief People Officer. Mitchell previously served as Chief People Officer at HackerOne.
Cynet has appointed MacKenzie Brown as Vice President of Threat Intelligence Strategy. Brown previously served as Vice President of the Adversary Pursuit Group at Blackpoint Cyber.
KnowBe4 has appointed Harlan Parrott as VP of AI Innovation. Parrott has previously served as Vice President at Transmit Security and Trellix.
Ten Eleven Ventures has added Grace Cassy as a Partner. Cassy is the co-founder of CyLon, and chairs Ten Eleven’s Security Trust and Resilience (STAR) network.
Doppel has added Ciaran Martin as a strategic advisor. Martin was head of cybersecurity at the UK's GCHQ, where he founded and led the country's National Cyber Security Centre.