Q4 Cyber Security Vendor Transaction Highlights
- 75 total funding and M&A transactions
- $1.7 Billion raised over 56 rounds
- 19 total M&A events
Crunching the Numbers
- The $1.7 Billion raised in Q4, 2024 represents a 7% increase in funding raised when compared to Q4, 2023.
- 56 funding rounds were tracked in Q4 ’24 compared to 85 in Q4, ’23 representing a 34% drop in funding volume.
- Early stage funding (Seed, Series-A) represents 57% of all Q4, 2024 funding rounds recorded.
- Late stage funding rounds (Growth Funding & Series C, D) accounted for 12.5% of Q4 ’24 funding volume.
- While late stage funding volume was low, it comprised of 45% of funding dollars raised in Q4 ’24.
Annual Funding Comparison
Q4 Security Vendor Funding
Q4 Funding Round Count
Q4's funding rounds and mergers & acquisitions
December 2024
November 2024
October 2024
December 2024
| Vendor | Activity Type | Acquiring Company | Financials | Lead Investor | Market Segment |
| Perception Point | Acquisition | Fortinet | $100,000,000 | N/A | |
| deviceTRUST | Acquisition | Citrix | Undisclosed | N/A | Identity |
| Strong Network | Acquisition | Citrix | Undisclosed | N/A | AppSec |
| Cylance | Acquisition | Arctic Wolf | $160,000,000 | N/A | Endpoint |
| SnapAttack | Acquisition | Cisco | Undisclosed | N/A | Threat Intel |
| Fend | Acquisition | OPSWAT | Undisclosed | N/A | Data |
| System Two Security | Seed | N/A | $7,000,000 | Costanoa Ventures | Detection/Response |
| CAT Labs | Seed | N/A | $5,400,000 | M13 | Crypto |
| NetBird | Seed | N/A | $4,230,000 | InReach Ventures | VPN |
| Wald.ai | Seed | N/A | $4,000,000 | Inventus Capital | AI/LLM |
| Senteon | Seed | N/A | $2,000,000 | Gula Tech Adventures | Security Services |
| Cloud Range | Seed | N/A | $6,200,000 | Undisclosed | Training |
| Tuskira | Funding, A | N/A | $28,500,000 | Intel Capital | Orchestration |
| Silent Push | Funding, A | N/A | $10,000,000 | Ten Eleven Ventures | Threat Intel |
| Ethyca | Funding, B | N/A | $10,000,000 | Aspenwood Ventures | GRC |
| Astrix Security | Funding, B | N/A | $45,000,000 | Menlo Ventures | Vulnerability |
| Sublime Security | Funding, B | N/A | $60,000,000 | IVP | |
| Flare | Funding, B | N/A | $30,000,000 | Base 10 Partners | OSINT |
| Bureau | Funding, B | N/A | $30,000,000 | Sorenson Capital | Identity |
| Axiado | Funding, C | N/A | $60,000,000 | Maverick Silicon | Firmware Security |
November 2024
| Vendor | Activity Type | Acquiring Company | Financials | Lead Investor | Market Segment |
| Critical Insight | Acquisition | Lumifi | Undisclosed | N/A | Security Services |
| Adaptive Shield | Acquisition | CrowdStrike | $300,000,000 | N/A | SaaS Security |
| Cybersixgill | Acquisition | BitSight | $115,000,000 | N/A | Threat Intel |
| VeriClouds | Acquisition | Enzotic | Undisclosed | N/A | Identity |
| Dazz | Acquisition | Wiz | $450,000,000 | N/A | AppSec |
| Adlumin | Acquisition | N-able | $266,000,000 | N/A | XDR |
| Cloudrise | Acquisition | Exclusive Networks | Undisclosed | N/A | Security Services |
| Cybereason | Merger | Trustwave | Undisclosed | N/A | Endpoint |
| Start Left Security | Seed | N/A | $1,350,000 | Undisclosed | AppSec |
| Embed Security | Seed | N/A | $6,000,000 | Paladin Capital Group | Detection/Response |
| Symbiotic Security | Seed | N/A | $3,000,000 | Lerer Hippeau | AppSec |
| Corgea | Seed | N/A | $2,600,000 | Shorooq Partners | AppSec |
| SurePathAI | Seed | N/A | $5,200,000 | Uncork Capital | AI/LLM |
| Cyber Upgrade | Seed | N/A | $2,700,000 | Superhero Capital | GRC |
| RIIG | Seed | N/A | $3,000,000 | Felton Group | OSINT |
| Twine | Seed | N/A | $12,000,000 | Ten Eleven Ventures | Automation |
| MirrorTab | Seed | N/A | $8,300,000 | Undisclosed | Browser |
| VISO TRUST | Funding | N/A | $7,000,000 | Sierra Ventures | GRC |
| AI SPERA | Funding | N/A | $8,550,000 | KB Investment | Threat Intel |
| Noma | Funding, A | N/A | $32,000,000 | Ballistic Ventures | AppSec |
| ZITADEL | Funding, A | N/A | $9,000,000 | Nexus Venture Partners | Identity |
| Prompt Security | Funding, A | N/A | $18,000,000 | Jump Capital | AI/LLM |
| Trustero | Funding, A | N/A | $10,400,000 | Bright Pixel | GRC |
| Gray Market Labs | Funding, A | N/A | $8,000,000 | Capri Ventures | Identity |
| Upwind | Funding, B | N/A | $100,000,000 | Craft Ventures | Cloud |
| Riot | Funding, B | N/A | $27,600,000 | Undisclosed | Training |
| Halcyon | Funding, C | N/A | $100,000,000 | Evolution Equity Partners | Detection/Response |
| Cyera | Funding, D | N/A | $300,000,000 | Sapphire Ventures | AI/LLM |
| Anitian | Funding, D | N/A | $7,000,000 | Sageview Capital | GRC |
| Bugcrowd | Growth Funding | N/A | $50,000,000 | Silicon Valley Bank | PenTesting |
October 2024
| Vendor | Activity Type | Acquiring Company | Financials | Lead Investor | Market Segment |
| Network Perception | Acquisition | Dragos | Undisclosed | N/A | OT/ICS |
| Trail Security | Acquisition | Cyera | $162,000,000 | N/A | Data |
| SecureWorks | Acquisition | Sophos | $859,000,000 | N/A | XDR |
| Effectiv | Acquisition | Socure | $136,000,000 | N/A | Fraud |
| Normalyze | Acquisition | Proofpoint | Undisclosed | N/A | Data |
| Prime Security | Seed | N/A | $6,000,000 | Foundation Capital | AppSec |
| MIND | Seed | N/A | $11,000,000 | YL Ventures | Data |
| Harmonic Security | Funding, A | N/A | $17,500,000 | Next47 | AI/LLM |
| Neeve | Funding, A | N/A | $15,000,000 | Cantor Fitzgerald | IoT |
| watchTower | Funding, A | N/A | $19,000,000 | Peak XV | Vulnerability |
| CYRISMA | Funding, A | N/A | $7,000,000 | Blueprint Equity | GRC |
| DeNexus | Funding, A | N/A | $17,500,000 | Punja Global Ventures | OT/ICS |
| zkPass | Funding, A | N/A | $12,500,000 | dao5 | Data |
| Reality Defender | Funding, A | N/A | $33,000,000 | Illuminate Financial | Fraud |
| Abstract Security | Funding, A | N/A | $15,000,000 | Munich Re Ventures | SIEM |
| Relyance AI | Funding, B | N/A | $32,000,000 | Thomvest Ventures | GRC |
| Stoik | Funding, B | N/A | $27,000,000 | Alven | Cyber Insurance |
| Stream.Security | Funding, B | N/A | $30,000,000 | US Venture Partners | Vulnerability |
| Socket | Funding, B | N/A | $40,000,000 | Andreesen Horowitz | Supply Chain |
| Concentric AI | Funding, B | N/A | $45,000,000 | Top Tier Capital | Data |
| Filigran | Funding, B | N/A | $35,000,000 | Insight Partners | Threat Intel |
| Cyber Guru | Funding, B | N/A | $25,000,000 | Riverside Acceleration Capital | Training |
| Zenity | Funding, B | N/A | $38,000,000 | Third Point Ventures | AppSec |
| Armis | Funding, D | N/A | $200,000,000 | Alkeon Capital | IoT |
| HUMAN | Growth Funding | N/A | $50,000,000 | WestCap | Bot |
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.
