July 2024 Cyber Funding & M&A Brief
Published by Pinpoint Search Group — the cybersecurity executive search firm that tracks every disclosed vendor funding round and acquisition in the sector.
At a glance
Get the full July 2024 dataset — every named company, round, investor, and segment.
What July told us
July 2024 was a quieter month — 28 transactions, $741M in disclosed funding, and 3 undisclosed acquisitions — but the funding rounds that did clear were structurally significant. Vanta Security raised $150M Series C at a $2.45B valuation, Chainguard raised $140M Series C in software supply chain, and Pindrop raised $100M in debt for fraud prevention. Three vendors, three different segment narratives (GRC, Supply Chain, Fraud), all at the growth/late-stage tier where capital had been most rationed earlier in the year.
Seventeen of the 25 funding rounds (68%) cleared at Seed or Series A — a return to the Q1 pattern after May and June's late-stage skew. The implication is that July was a venture-driven month rather than a growth-equity-driven one, with the late-stage exceptions concentrated in segments that had already produced public-comparable exits (Vanta's exit math benchmarks against AuditBoard's May $3B exit; Chainguard's against Snyk's later trajectory).
Chainguard's $140M Series C is the cleanest signal of where supply-chain security funding had moved by mid-2024. The company has now raised $51M Series A (June 2022), $61M Series B (November 2023), and $140M Series C (July 2024) — three consecutive rounds inside the same segment with no positioning drift, an unusually disciplined arc inside a category that's seen heavy taxonomy churn elsewhere.
Stage and segment breakdown
| Stage | Count |
|---|---|
| Seed | 9 |
| Series A | 8 |
| Series B | 2 |
| Series C | 3 |
| Debt | 1 |
| Acquisition | 3 |
| Top segments | Transactions |
|---|---|
| GRC | 3 |
| Identity | 3 |
| Detection/Response | 2 |
| AI/LLM | 2 |
| IoT | 2 |
| Vulnerability | 2 |
Two deals worth your attention
Vanta Security — $150M Series C led by Sequoia. Vanta's compliance automation platform raised at a $2.45B valuation, the largest funding event of July. The round closed roughly two months after AuditBoard's $3B take-private exit in the same GRC segment — a useful adjacency for Vanta's pre-IPO comp set as it scales into the same enterprise buyer footprint.
Chainguard — $140M Series C led by Redpoint Ventures. Chainguard raised $140M to extend its secure-by-default container image platform across more open-source ecosystems. The round was the third Chainguard event in the workbook and continued one of the most disciplined multi-round arcs inside Supply Chain security — three rounds, one segment, larger checks each time.
Companies we've covered before
Vanta Security first appeared in May 2021 with a $50M Series A in GRC, returning in October 2022 with a $40M Series B in the same segment. The July 2024 $150M Series C marks Vanta's third round in the workbook — and the first event in the post-AuditBoard exit world, where GRC's comp set has been visibly reset.
Chainguard first appeared in June 2022 with a $50M Series A in Supply Chain, returning in November 2023 with a $61M Series B in the same segment. The July 2024 $140M Series C is Chainguard's third disclosed round — same segment across all three, with the round size roughly doubling at each step.
The other 26 transactions are in the data feed — including the 3 acquisitions whose values never hit the press. Get July's details and more →
Methodology
Every transaction in this brief was sourced from a primary public report and dedupe-checked against the master Pinpoint funding workbook, which now contains ~2,600 transactions back to May 2020. Funding totals reflect disclosed capital only; acquisition values are included where publicly available.
Each deal is classified against Pinpoint's normalized cybersecurity segment taxonomy — read directly off what the company says they protect and mapped to one of the canonical segments. The taxonomy has been maintained continuously since 2020 and currently covers roughly 55 segments. Identity, Data, Detection / Response, and Threat Intel have been tracked from the first month of the series; AppSec and GRC entered the following month; emergent categories (AI/LLM, Supply Chain, Quantum, Browser) are added when they first appear in vendor positioning. That normalization layer is what makes multi-year, cross-segment comparisons possible against an otherwise inconsistent vocabulary in the broader market.
About Pinpoint Search Group
Cybersecurity innovators work with Pinpoint Search Group to identify, attract, and land professionals that enable maturation, scale, and successful outcomes. As start-ups continue raising millions in funding and established vendors make acquisitions to round out their offerings, Pinpoint Search Group is keeping track.
Get the underlying data
The narrative above is the free version. The paid Pinpoint Cyber Funding Data feed gives you every named transaction, every disclosed investor, every segment classification — exportable, filterable, and updated as the deals close.