Info@NationalCyberSecurity
Info@NationalCyberSecurity

Cybersecurity Starts Off Week With Big Rounds | #hacking | #cybersecurity | #infosec | #comptia | #pentest | #ransomware


While venture funding to cybersecurity startups is down 30% year to year, this week has already seen a handful of good-sized rounds going to U.S.-based security firms.

Just in the first couple of days of the week, several cybersecurity startups saw significant rounds — some at big valuations — including:

  • Dallas-based cybersecurity startup Island announced a $100 million Series C led by Prysm Capital and valuing it at $1.5 billion. The enterprise browser developer raised a $115 million Series B at a $1.3 billion valuation last year led by Insight Partners.
  • Ann Arbor, Michigan-based threat hunting and exposure management startup Censys raised $75 million in a mix of equity and debt. The equity portion of the round was led by Decibel Partners, GV, Greylock and Intel Capital.
  • Washington, D.C.-based Adlumin, a managed detection and response startup, raised a $70 million Series B led by SYN Ventures.
  • Cleveland-based identity startup Keyfactor secured a minority investment of an undisclosed amount from Sixth Street Growth that values it at approximately $1.3 billion. The company also announced it had merged with PrimeKey.

Cyber funding comeback?

While funding is down year to year, it actually saw a slight uptick quarter to quarter.

According to Crunchbase data, cybersecurity startups raised nearly $1.9 billion through 153 deals announced in Q3, a 12% increase from the $1.7 billion raised in 181 deals the previous quarter.

While the dollar figure is down significantly from the $2.7 billion raised in Q3 2022, it does show some resiliency for the sector even as venture capitalists are reeling in spending due to increasing interest rates, geopolitical issues and a fluctuating public market.

Although it is much too early to predict what Q4 numbers will look like, the start of this week could point to another slight uptick.

Related Crunchbase Pro query

Cybersecurity Funding

Related reading:

Cybersecurity Funding Sees Slight Bounce Back From Q2, But Still Down From 2022

Illustration: Dom Guzman

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