Q3 Cyber Security Vendor Transaction Highlights
- 113 total funding and M&A transactions
- $2.3 Billion raised over 89 rounds
- 24 total M&A events
Crunching the Numbers
- The $2.3 Billion raised in Q3, 2023 represents a 21% increase in funding raised when compared to Q3, 2022.
- Funding volume increased substantially with 89 funding rounds tracked in Q3 ’23 compared to 56 in Q3, ’22, representing a 22% delta.
- YTD 2023, cybersecurity vendors have raised $7.1 Billion over 261 rounds.
- Interestingly, the 261 rounds of investment recorded through Q3 ’23 has already exceeded all of 2022’s volume, 233 rounds recorded for the full year.
- Dollars invested through Q3, 2023 remains ~38% behind 2022’s total funding recorded.
Annual Funding Comparison
Q3 Security Vendor Funding
Q3 Funding Round Count
Q3's funding rounds and mergers & acquisitions
September 2023
August 2023
July 2023
September 2023
| Vendor | Activity Type | Acquiring Company | Financials | Market Segment |
| Ermetic | Acquisition | Tenable | $265,000,000 | Cloud |
| Spectrum Labs | Acquisition | ActiveFence | Undisclosed | OSINT |
| Stacksi | Acquisition | SafeBase | Undisclosed | GRC |
| Atmosec | Acquisition | Check Point | Undisclosed | SaaS Security |
| FraudWatch | Acquisition | Netcraft | Undisclosed | Security Services |
| Bionic | Acquisition | CrowdStrike | $350,000,000 | API |
| Splunk | Acquisition | Cisco | $28,000,000,000 | SIEM |
| CyGlass | Acquisition | WatchGuard Technologies | Undisclosed | Detection/Response |
| Vector0 | Acquisition | Stratascale/SHI | Undisclosed | Vulnerability |
| OneID | Seed | N/A | $1,200,000 | Identity |
| Pynt | Seed | N/A | $6,000,000 | API |
| 0xPass | Seed | N/A | $1,800,000 | Crypto |
| Mindgard | Seed | N/A | $3,800,000 | Threat Intel |
| Goldilock | Seed | N/A | $1,700,000 | Firmware Security |
| Cleafy | Seed | N/A | $10,700,000 | Fraud |
| Discern | Seed | N/A | $3,000,000 | GRC |
| Vali Cyber | Seed | N/A | $15,000,000 | OS Security |
| Verisoul | Seed | N/A | $3,250,000 | Fraud |
| Nexusflow | Seed | N/A | $10,600,000 | Orchestration |
| Dattak | Funding, A | N/A | $12,000,000 | Cyber Insurance |
| Upwind | Funding, A | N/A | $50,000,000 | Cloud |
| HiddenLayer | Funding, A | N/A | $50,000,000 | Detection/Response |
| Binalyze | Funding, A | N/A | $19,000,000 | Forensics |
| Zenity | Funding, A | N/A | $16,500,000 | AppSec |
| Alcion | Funding, A | N/A | $21,000,000 | Data |
| Gem Security | Funding, A | N/A | $23,000,000 | Detection/Response |
| Certa | Funding, B | N/A | $35,000,000 | GRC |
| CertifID | Funding, B | N/A | $20,000,000 | Fraud |
| Legit Security | Funding, B | N/A | $40,000,000 | Supply Chain |
| Lumu | Funding, B | N/A | $24,000,000 | Detection/Response |
| Dragos | Funding, D | N/A | $74,000,000 | OT/ICS |
| Deduce | Funding | N/A | $9,000,000 | Fraud |
| Stoik | Funding | N/A | $10,700,000 | Cyber Insurance |
| Rencore | Funding | N/A | $8,000,000 | GRC |
| ThetaRay | Growth Funding | N/A | $57,000,000 | Fraud |
| Cato Networks | Growth Funding | N/A | $238,000,000 | SASE |
| Nord Security | Growth Funding | N/A | $100,000,000 | VPN |
August 2023
| Vendor | Activity Type | Acquiring Company | Financials | Market Segment |
| Laminar | Acquisition | Rubrik | $250,000,000 | Data |
| Perimeter 81 | Acquisition | Check Point | $490,000,000 | SASE |
| Integral Partners | Acquisition | Xalient | Undisclosed | Identity |
| PikeTec | Acquisition | Synopsys | Undisclosed | AppSec |
| Osirium | Acquisition | SailPoint | $8,300,000 | Identity |
| ForgeRock/Ping Identity | Merger | N/A | Undisclosed | Identity |
| Silk Security | Seed | N/A | $12,500,000 | Detection/Response |
| Plerion | Seed | N/A | $10,000,000 | Vulnerability |
| Jericho Security | Seed | N/A | $3,000,000 | Training |
| Tromzo | Seed | N/A | $8,000,000 | AppSec |
| Abbey Labs | Seed | N/A | $5,250,000 | Identity |
| Gamboc | Seed | N/A | $5,000,000 | AppSec |
| SphereX | Seed | N/A | $8,200,000 | Crypto |
| Sweet Security | Seed | N/A | $12,000,000 | Detection/Response |
| Kivera | Seed | N/A | $3,500,000 | Vulnerability |
| zkPass | Seed | N/A | $2,500,000 | Data |
| Pistachio | Seed | N/A | $3,500,000 | Training |
| Spearbit | Seed | N/A | $7,000,000 | Crypto |
| Cube3.ai | Seed | N/A | $8,200,000 | Crypto |
| Dropzone AI | Seed | N/A | $3,500,000 | Detection/Response |
| BBT.Live | Seed | N/A | $1,600,000 | Network Security |
| iVerify | Seed | N/A | $4,000,000 | Vulnerability |
| PRIBIT Technology | Seed | N/A | $3,000,000 | Network Security |
| Fianu Labs | Seed | N/A | $2,000,000 | GRC |
| Socket | Funding, A | N/A | $20,000,000 | Supply Chain |
| Converge Insurance | Funding, A | N/A | $15,000,000 | Cyber Insurance |
| Endor Labs | Funding, A | N/A | $70,000,000 | AppSec |
| ConductorOne | Funding, A | N/A | $27,000,000 | Identity |
| Rootly | Funding, A | N/A | $12,000,000 | Detection/Response |
| Stamus Networks | Funding, A | N/A | $6,000,000 | Network Security |
| ProjectDiscovery | Funding, A | N/A | $25,000,000 | Vulnerability |
| Metabase Q | Funding, A | N/A | $3,000,000 | Orchestration |
| Tausight | Funding, A | N/A | $6,000,000 | Data |
| Cerby | Funding, A | N/A | $17,000,000 | Identity |
| Cypago | Funding, A | N/A | $13,000,000 | GRC |
| Symmetry Systems | Funding, B | N/A | $17,700,000 | Data |
| Osano | Funding, B | N/A | $25,000,000 | Data |
| Grip Security | Funding, B | N/A | $41,000,000 | SaaS Security |
| Nile | Funding, C | N/A | $175,000,000 | Network Security |
| Horizon3 | Funding, C | N/A | $40,000,000 | PenTesting |
| Resilience | Funding, D | N/A | $100,000,000 | Cyber Insurance |
| Sentry Enterprises | Funding, D | N/A | $13,000,000 | Identity |
| Trava Security | Funding | N/A | $7,000,000 | Security Services |
| Veza | Growth Funding | N/A | $15,000,000 | Identity |
| SpyCloud | Growth Funding | N/A | $110,000,000 | Identity |
| Hyperproof | Growth Funding | N/A | $40,000,000 | GRC |
July 2023
| Vendor | Activity Type | Acquiring Company | Financials | Market Segment |
| ThreeTwoFour | Acquisition | Node4 | Undisclosed | Security Services |
| SCADAfence | Acquisition | Honeywell | Undisclosed | OT/ICS |
| G2CI (Forcepoint BU) | Acquisition | TPG | $2,500,000,000 | OT/ICS |
| Cobwebs | Acquisition | Spire Capital | $200,000,000 | OSINT |
| RiskLens | Acquisition | Safe Security | Undisclosed | Ratings |
| Oort | Acquisition | Cisco | Undisclosed | Identity |
| Resurface.io | Acquisition | Graylog | Undisclosed | API |
| Imperva | Acquisition | Thales | $3,700,000,000 | Platform |
| Privatise | Acquisition | Coro | Undisclosed | Network Security |
| Outdid | Seed | N/A | $2,500,000 | Identity |
| Infisical | Seed | N/A | $2,800,000 | Supply Chain |
| Vendict | Seed | N/A | $9,500,000 | GRC |
| AuthMind | Seed | N/A | $8,500,000 | Identity |
| PingSafe | Seed | N/A | $3,300,000 | Detection/Response |
| Clarity Security | Seed | N/A | $3,000,000 | GRC |
| Cyclops | Seed | N/A | $6,400,000 | Ratings |
| QuoIntelligence | Seed | N/A | $5,500,000 | Threat Intel |
| Resistant AI | Funding, A | N/A | $11,000,000 | Fraud |
| Saibo Kunlun | Funding, A | N/A | $13,800,000 | Security Services |
| Savvy | Funding, A | N/A | $20,000,000 | SaaS Security |
| SpecterOps | Funding, A | N/A | $8,500,000 | Vulnerability |
| Bureau | Funding, A | N/A | $4,500,000 | Identity |
| Protect AI | Funding, A | N/A | $35,000,000 | AppSec |
| Trustmi | Funding, A | N/A | $17,000,000 | Fraud |
| Sevco Security | Funding, B | N/A | $15,000,000 | Vulnerability |
| Cyble | Funding, B | N/A | $24,000,000 | Threat Intel |
| Secure Code Warrior | Funding, C | N/A | $50,000,000 | Training |
| AUCloud | Funding | N/A | $8,500,000 | Data |
| NetCraft | Growth Funding | N/A | $100,000,000 | Threat Intel |
| OneTrust | Growth Funding | N/A | $150,000,000 | GRC |
Research Methodology
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.
