Q3 Cyber Security Vendor Transaction Highlights
- 86 total funding and M&A transactions
- $2.15 Billion raised over 73 rounds
- 13 total M&A events
Crunching the Numbers
- The $2.15 Billion raised in Q3, 2024 represents a 5% decrease in funding raised when compared to Q3, 2023.
- 73 funding rounds were tracked in Q3 ’24 compared to 89 in Q3, ’23.
- Early stage funding (Seed, Series-A) represents 59% of all Q3, 2024 funding rounds recorded.
- Late stage funding rounds (Growth Funding & Series C, D) accounted for 13.5% of Q3 ’24 funding volume.
- While late stage funding volume was low, it comprised of 60% of funding dollars raised in Q3 ’24.
Annual Funding Comparison
Q3 Security Vendor Funding
Q3 Funding Round Count
Q3's funding rounds and mergers & acquisitions
September 2024
August 2024
July 2024
September 2024
| Vendor | Activity Type | Acquiring Company | Financials | Lead Investor | Market Segment |
| Syxsense | Acquisition | Absolute Security | Undisclosed | N/A | Vulnerability |
| PureID | Acquisition | ColorTokens | Undisclosed | N/A | Identity |
| Recorded Future | Acquisition | Mastercard | $2,650,000,000 | N/A | Threat Intel |
| Acuvity | Seed | N/A | $9,000,000 | Foundation Capital | AI/LLM |
| Realm.Security | Seed | N/A | $5,000,000 | Accomplice | Data |
| AppCD | Seed | N/A | $12,300,000 | Thomvest Ventures | AppSec |
| SplxAI | Seed | N/A | $2,000,000 | Inovo.vc | Vulnerability |
| Osavul | Seed | N/A | $3,000,000 | 42CAP | OSINT |
| Element Security | Seed | N/A | $5,000,000 | Q Fund VC | Vulnerability |
| Arcjet | Seed | N/A | $3,600,000 | Andreesen Horowitz | AppSec |
| Hydden | Seed | N/A | $4,400,000 | Access Venture Partners | Identity |
| c/side | Seed | N/A | $6,000,000 | Uncork Capital | Browser |
| Edera | Seed | N/A | $5,000,000 | 645 Ventures | Container |
| Loom Security | Seed | N/A | $1,800,000 | Undisclosed | MSSP |
| American Binary | Funding | N/A | $1,000,000 | HEST Investments | Data |
| FifthWall | Funding | N/A | $3,200,000 | Undisclosed | Cyber Insurance |
| EasyDMARC | Funding | N/A | $20,000,000 | Radian Capital | |
| Dotfile | Funding | N/A | $6,700,000 | Seaya Ventures | GRC |
| Enginsight | Funding | N/A | $6,700,000 | UVC Partners | Security Services |
| Hypernative | Funding, A | N/A | $16,000,000 | Quantstamp | Crypto |
| P0 Security | Funding, A | N/A | $15,000,000 | SYN | Identity |
| Aembit | Funding, A | N/A | $25,000,000 | Acrew Capital | Identity |
| Datricks | Funding, A | N/A | $15,000,000 | Team8 | GRC |
| Operant | Funding, A | N/A | $10,000,000 | SineWave | AppSec |
| Patrowl | Funding, A | N/A | $12,157,000 | Auriga Cyber Ventures | PenTesting |
| Tamnoon | Funding, A | N/A | $12,000,000 | Bright Pixel | Detection/Response |
| DefectDojo | Funding, A | N/A | $7,000,000 | Iolar Ventures | AppSec |
| Apono | Funding, A | N/A | $15,500,000 | New Era Capital Partners | Identity |
| Metabase Q | Funding, A | N/A | $11,000,000 | SYN Ventures | Orchestration |
| Blackpanda | Funding, A | N/A | $6,700,000 | Singtel | Forensics |
| RunSafe Security | Funding, B | N/A | $12,000,000 | Critical Ventures | AppSec |
| BlackCloak | Funding, B | N/A | $17,000,000 | Baird Capital | Threat Intel |
| Strider | Funding, C | N/A | $55,000,000 | Pelion Venture Partners | Threat Intel |
| Intezer | Funding, C | N/A | $33,000,000 | Norwest Venture Partners | Detection/Response |
| Torq | Funding, C | N/A | $70,000,000 | Evolution Equity Partners | Automation |
| Zafran | Growth Funding | N/A | $40,000,000 | Sequoia | Vulnerability |
| Picus Security | Growth Funding | N/A | $45,000,000 | Riverwood Capital | Training |
August 2024
| Vendor | Activity Type | Acquiring Company | Financials | Lead Investor | Market Segment |
| Next DLP | Acquisition | Fortinet | Undisclosed | N/A | Data |
| Phoenix IT | Acquisition | Dataprise | Undisclosed | N/A | Security Services |
| Vercara | Acquisition | DigiCert | Undisclosed | N/A | DNS |
| Aware | Acquisition | Mimecast | Undisclosed | N/A | Vulnerability |
| NeuroID | Acquisition | Experian | Undisclosed | N/A | Fraud |
| Robust Intelligence | Acquisition | Cisco | Undisclosed | N/A | AI/LLM |
| Cyberint | Acquisition | Check Point | $200,000,000 | N/A | Threat Intel |
| Endari | Seed | N/A | $4,000,000 | Undisclosed | Security Services |
| SafeGuard Privacy | Seed | N/A | $3,600,000 | TechOperators | GRC |
| Inscora | Seed | N/A | $2,000,000 | Luge Capital | Cyber Insurance |
| Aurascape | Seed | N/A | $12,800,000 | Mayfield Fund | AI/LLM |
| Axiad | Funding | N/A | $25,000,000 | Invictus Growth Partners | Identity |
| FenixPyre | Funding | N/A | $3,100,000 | Undisclosed | Data |
| Privacy Hawk | Funding | N/A | $3,000,000 | K Street Capital | Data |
| Uniqkey | Funding | N/A | $5,900,000 | BackingMinds | Identity |
| Fabric Cryptography | Funding, A | N/A | $33,000,000 | 1kx | Data |
| ProtectAI | Funding, B | N/A | $60,000,000 | Evolution Equity Partners | AI/LLM |
| Credo AI | Funding, B | N/A | $21,000,000 | CrimsoNox Capital | GRC |
| Anjuna | Funding, B | N/A | $25,000,000 | M Ventures | AppSec |
| Abnormal Security | Funding, D | N/A | $250,000,000 | Wellington Management | |
| Kiteworks | Growth Equity | N/A | $456,000,000 | Insight Partners | Data |
July 2024
| Vendor | Activity Type | Acquiring Company | Financials | Lead Investor | Market Segment |
| Noetic | Acquisition | Rapid7 | Undisclosed | N/A | Vulnerability |
| Code42 | Acquisition | Mimecast | Undisclosed | N/A | Data |
| SydeLabs | Acquisition | Protect AI | Undisclosed | N/A | AI/LLM |
| GovSky | Seed | N/A | $2,500,000 | Peterson Ventures | GRC |
| PureCyber | Seed | N/A | $6,400,000 | BGF | Security Services |
| Command Zero | Seed | N/A | $21,000,000 | Andreesen Horowitz | Forensics |
| Cytactic | Seed | N/A | $16,000,000 | Evolution Equity Partners | Detection/Response |
| Tracebit | Seed | N/A | $5,000,000 | Accel | Detection/Response |
| FoxIo | Seed | N/A | $2,000,000 | Undisclosed | Network Security |
| Heeler Security | Seed | N/A | $8,500,000 | Norwest Venture Partners | AppSec |
| Zest Security | Seed | N/A | $5,000,000 | Hanaco Ventures | Vulnerability |
| Clutch | Seed | N/A | $8,500,000 | Lightspeed | Identity |
| XBOW | Funding | N/A | $20,000,000 | Undisclosed | PenTesting |
| Metabase Q | Funding | N/A | $5,100,000 | Undisclosed | MSSP |
| Kindo | Funding, A | N/A | $20,600,000 | Drive Capital | GRC |
| Linx | Funding, A | N/A | $27,000,000 | Index Ventures | Identity |
| CultureAI | Funding, A | N/A | $10,000,000 | Mercia Ventures | Training |
| Protexxa | Funding, A | N/A | $7,200,000 | Bell Ventures | Ratings |
| Lakera | Funding, A | N/A | $20,000,000 | Atomico | AI/LLM |
| Evo Security | Funding, A | N/A | $6,000,000 | TechOperators | Identity |
| ZeroTier | Funding, A | N/A | $13,500,000 | Battery Ventures | IoT |
| Lineaje | Funding, A | N/A | $20,000,000 | Prosperity7 Ventures | Supply Chain |
| Exein | Funding, B | N/A | $16,300,000 | 33N Ventures | IoT |
| Dazz | Funding, B | N/A | $50,000,000 | Greylock Partners | AppSec |
| Vanta Security | Funding, C | N/A | $150,000,000 | Sequoia | GRC |
| Chainguard | Funding, C | N/A | $140,000,000 | Redpoint Ventures | Supply Chain |
| Cowbell Cyber | Funding, C | N/A | $60,000,000 | Zurich Insurance Group | Cyber Insurance |
| Pindrop | Debt Funding | N/A | $100,000,000 | Hercules Capital | Fraud |
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.
