Q2 Cyber Security Vendor Transaction Highlights
- 116 total funding and M&A transactions
- $1.9 Billion raised over 97 rounds
- 19 total M&A events
Crunching the Numbers
- The $1.9 Billion raised in Q2, 2023 represents a 55% decline in funding raised when compared to Q2, 2022.
- Funding volume was nearly identical with 97 funding rounds tracked in Q2 ’23 and 92 in Q2, ’22.
- YTD 2023, cybersecurity vendors have raised $4.8 Billion over 172 rounds.
- 2023’s H1 funding represents a 50% decline when compared to the $9.7B raised in H1 2022 (177 funding rounds).
Annual Funding Comparison
Q2 Security Vendor Funding
Q2 Funding Round Count
Q2's funding rounds and mergers & acquisitions
June 2023
May 2023
April 2023
June 2023
| Vendor | Activity Type | Acquiring Company | Financials | Market Segment |
| ArmorBlox | Acquisition | Cisco | Undisclosed | |
| Enso Security | Acquisition | Snyk | $50,000,000 | AppSec |
| Sweepatic | Acquisition | Outpost24 | Undisclosed | Vulnerability |
| Tesserent | Acquisition | Thales | $119,100,000 | Security Services |
| Privitar | Acquisition | Informatica | Undisclosed | Data |
| Berbix | Acquisition | Socure | $70,000,000 | Identity |
| Horangi Cyber Security | Acquisition | Bitdefender | Undisclosed | GRC |
| BluBracket | Acquisition | HashiCorp | Undisclosed | AppSec |
| Galvanick | Seed | N/A | $10,000,000 | OT/ICS |
| Keep Aware | Seed | N/A | $2,400,000 | Browser |
| Elba | Seed | N/A | $2,600,000 | SASE |
| Escape | Seed | N/A | $3,900,000 | API |
| Start Left Security | Seed | N/A | $3,000,000 | AppSec |
| Silent Push | Seed | N/A | $10,000,000 | Threat Intel |
| Filigran | Seed | N/A | $5,460,000 | Threat Intel |
| Mesh | Seed | N/A | $1,690,000 | |
| Ostrich Cyber Risk | Seed | N/A | $5,000,000 | Ratings |
| Muscope Cybersecurity | Seed | N/A | $880,000 | Ratings |
| Invary | Seed | N/A | $1,850,000 | Ratings |
| Patented.ai | Seed | N/A | $4,000,000 | Data |
| 0pass | Seed | N/A | $3,500,000 | Identity |
| Nokod | Seed | N/A | $8,000,000 | AppSec |
| Kodem | Funding, A | N/A | $18,000,000 | AppSec |
| Trust Lab | Funding, A | N/A | $15,000,000 | OSINT |
| CalypsoAI | Funding, A | N/A | $23,000,000 | GRC |
| Astrix Security | Funding, A | N/A | $25,000,000 | Vulnerability |
| BeeKeeperAI | Funding, A | N/A | $12,100,000 | Data |
| Venn Software | Funding, A | N/A | $29,000,000 | Endpoint |
| Dig Security | Funding, B | N/A | Undisclosed | Data |
| Blumira | Funding, B | N/A | $15,000,000 | XDR |
| Shift5 | Funding, B | N/A | $33,000,000 | OT/ICS |
| Blackbird | Funding, B | N/A | $20,000,000 | OSINT |
| Oso | Funding, B | N/A | $15,000,000 | Identity |
| Cyera | Funding, B | N/A | $100,000,000 | Data |
| IP Fabric | Funding, B | N/A | $30,000,000 | Network Security |
| Cyware | Funding, C | N/A | $30,000,000 | Threat Intel |
| Hackmetrix | Funding | N/A | $1,300,000 | MSSP |
| BonjourCyber | Funding | N/A | $1,000,000 | Security Services |
| Blackpoint Cyber | Growth Funding | N/A | $190,000,000 | Detection/Response |
May 2023
| Vendor | Activity Type | Acquiring Company | Financials | Market Segment |
| Okera | Acquisition | Databricks | Undisclosed | GRC |
| Absolute Software | Acquisition | Crosspoint Capital Partners | $870,000,000 | Detection/Response |
| Polar Security | Acquisition | IBM | $60,000,000 | Data |
| CultureAI | Seed | N/A | $7,000,000 | Training |
| Osavul | Seed | N/A | $1,000,000 | OSINT |
| Moonsense | Seed | N/A | $4,200,000 | Fraud |
| NetBird | Seed | N/A | $1,200,000 | VPN |
| Kertos | Seed | N/A | $4,500,000 | GRC |
| SquareX | Seed | N/A | $6,000,000 | Browser |
| Webb | Seed | N/A | $7,000,000 | Crypto |
| Cloudburst Technologies | Seed | N/A | $3,000,000 | Threat Intel |
| Entro | Seed | N/A | $6,000,000 | Data |
| Manifest | Seed | N/A | $6,000,000 | Supply Chain |
| Cork | Seed | N/A | $6,000,000 | Cyber Insurance |
| Hook Security | Seed | N/A | $5,500,000 | Training |
| Lumeus | Seed | N/A | $6,000,000 | Network Security |
| Riscosity | Seed | N/A | $7,000,000 | Supply Chain |
| Memcyco | Seed | N/A | $10,000,000 | Fraud |
| Hopr | Seed | N/A | $500,000 | Identity |
| Cable | Funding, A | N/A | $11,000,000 | GRC |
| Threat Fabric | Funding, A | N/A | $12,500,000 | Fraud |
| Stacklok | Funding, A | N/A | $17,500,000 | Supply Chain |
| Auradine | Funding, A | N/A | $81,000,000 | Crypto |
| Sekoia | Funding, A | N/A | $37,500,000 | XDR |
| CyberVadis | Funding, A | N/A | $7,500,000 | Ratings |
| StrikeGraph | Funding, A | N/A | $7,000,000 | GRC |
| Huntress | Funding, C | N/A | $60,000,000 | Detection/Response |
| OpenSSF | Funding | N/A | $5,000,000 | AppSec |
| Cybeats | Funding | N/A | $6,200,000 | Supply Chain |
| Immuta | Growth Funding | N/A | Undisclosed | Data |
| SourcePass | Growth Funding | N/A | $65,000,000 | MSSP |
| Hub Security | Growth Funding | N/A | $16,000,000 | Platform |
April 2023
| Vendor | Activity Type | Acquiring Company | Financials | Market Segment |
| Set Solutions | Acquisition | Trace3 | Undisclosed | MSSP |
| Securix | Acquisition | Allurity | Undisclosed | Identity |
| LookingGlass Cyber | Acquisition | ZeroFox | $26,000,000 | Threat Intel |
| Ericom | Acquisition | Cradlepoint | Undisclosed | SASE |
| CloudComputing | Acquisition | Allurity | Undisclosed | Identity |
| Lookout | Acquisition | F-Secure | $224,000,000 | Endpoint |
| Storagepipe | Acquisition | Thrive | Undisclosed | MSSP |
| Neosec | Acquisition | Akamai | Undisclosed | API |
| Cranium | Spinout | From KPNG | $7,000,000 | AppSec |
| Trustle | Seed | N/A | $6,000,000 | Identity |
| Otterize | Seed | N/A | $11,500,000 | Identity |
| Mobb | Seed | N/A | $5,400,000 | Vulnerability |
| Lockr | Seed | N/A | $2,500,000 | Identity |
| Fiverity | Seed | N/A | $4,000,000 | Fraud |
| Cerbos | Seed | N/A | $7,500,000 | Identity |
| Cat Labs | Seed | N/A | $4,300,000 | Crypto |
| Oblivious | Seed | N/A | $5,900,000 | Data |
| Sonet.io | Seed | N/A | $6,000,000 | Identity |
| Stack Identity | Seed | N/A | $4,000,000 | Identity |
| Shield | Seed | N/A | $2,100,000 | Crypto |
| Bastion | Seed | N/A | $2,800,000 | Security Services |
| Melius Cyber | Seed | N/A | $620,000 | Security Services |
| Operant | Seed | N/A | $3,000,000 | AppSec |
| Strivacity | Funding, A | N/A | $20,000,000 | Identity |
| SpecterOps | Funding, A | N/A | $25,000,000 | Vulnerability |
| Push Security | Funding, A | N/A | $15,000,000 | Training |
| LeapXpert | Funding, A | N/A | $22,000,000 | GRC |
| Halcyon | Funding, A | N/A | $50,000,000 | Detection/Response |
| Fletch | Funding, A | N/A | $12,500,000 | Ratings |
| Fivecast | Funding, A | N/A | $20,000,000 | OSINT |
| Dasera | Funding, A | N/A | $12,000,000 | Data |
| Avalor | Funding, A | N/A | $25,000,000 | Data |
| AaDya | Funding, A | N/A | $5,000,000 | Platform |
| Safe Security | Funding, B | N/A | $50,000,000 | Ratings |
| Fourthline | Funding, B | N/A | $54,000,000 | GRC |
| Cyfirma | Funding, B | N/A | $6,000,000 | Threat Intel |
| Semgrep | Funding, C | N/A | $53,000,000 | AppSec |
| Coro | Funding, C | N/A | $75,000,000 | XDR |
| ID.me | Funding, D | N/A | $132,000,000 | Identity |
| Quantexa | Funding, E | N/A | $129,000,000 | GRC |
| Cybereason | Growth Funding | N/A | $100,000,000 | Endpoint |
| Token | Financing | N/A | $30,000,000 | Identity |
| NetRise | Funding | N/A | $8,000,000 | IoT |
| CyberQP (was Quickpass) | Funding | N/A | $12,000,000 | Identity |
| BreachBits | Funding | N/A | $3,200,000 | Ratings |
About Pinpoint Search Group
Pinpoint recruits VPs, Directors and Sr. Individual Contributors for cyber security vendors. As start-ups continue raising millions in funding and established vendors make acquisitions to round out their offerings, Pinpoint Search Group is keeping track.
Contact us to discuss adding talent to your team, or if it’s time to explore new opportunities.
