June 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 June 2024 dataset — every named company, round, investor, and segment.
What June told us
June 2024 was a transitional month after May's spike: 31 transactions, $881M in disclosed funding, and only 4 acquisitions — all undisclosed. The funding mix was concentrated in the growth and late-stage layers, with Huntress raising $150M Series D in detection, Semperis raising $125M growth in identity, PortSwigger raising $112M growth in pen-testing, and Cyberhaven raising $88M Series C in data security. Four nine-figure rounds in a month with zero disclosed M&A is unusual; the signal is that growth-stage cyber was still trading well even as strategic buyers paused after the May spree.
Identity led segment activity again with 7 transactions, and Data came in second with 6. Both segments carried May; both carried June; the pattern is consistent with the year's first-half trajectory in which Identity and Data have been the two most consistently-funded categories. The standout was Semperis's $125M growth round, led by JP Morgan Growth Equity — the company's third disclosed round in the workbook, all inside identity-recovery and AD security, and the largest of the three.
The four M&A deals — all undisclosed — included Bain Capital's acquisition of PowerSchool's safety business and Akamai's pickup of Nokia's enterprise WAN. The pattern of full-undisclosed-value M&A is worth noting: it appears in roughly one in four months across the workbook and is most common when the targets are non-pure-play assets being absorbed for product-line coverage. June fit that mold cleanly.
Stage and segment breakdown
| Stage | Count |
|---|---|
| Seed | 5 |
| Series A | 5 |
| Series B | 2 |
| Series C | 3 |
| Series D+ | 2 |
| Growth Funding | 4 |
| Acquisition | 4 |
| Top segments | Transactions |
|---|---|
| Identity | 7 |
| Data | 6 |
| Detection/Response | 2 |
| Security Services | 2 |
| AI/LLM | 2 |
| PenTesting | 2 |
Two deals worth your attention
Huntress — $150M Series D led by Kleiner Perkins. Huntress's managed detection and response platform raised at a $1.5B valuation — the largest funding event of June and the company's fourth round in the workbook, all inside Detection/Response. The round confirmed that MDR-as-a-service for the mid-market continued to clear late-stage growth capital even when strategic M&A in the same category had paused.
Semperis — $125M growth round led by JP Morgan Growth Equity Partners. Semperis raised $125M to extend its identity threat detection and response platform for Active Directory and Entra ID environments. The round continued one of the longer-running identity stories in the workbook — $40M Series B in 2020, $200M Series C in 2022, $125M growth in 2024 — and reinforced that AD security remained an under-vendored sub-segment of Identity.
Companies we've covered before
Huntress first appeared in May 2021 with a $40M Series B in Detection/Response, returning in September 2022 with $40M and again in May 2023 with $60M Series C, all in the same segment. The June 2024 $150M Series D is Huntress's fourth tracked round — same segment classification across all four — and the largest of the series.
Semperis first appeared in May 2020 with a $40M Series B in Identity and returned in May 2022 with a $200M Series C. The June 2024 $125M growth round is Semperis's third disclosed round, all inside Identity — one of the steadier AD-security arcs in the workbook.
The other 29 transactions are in the data feed — including the 4 acquisitions whose values never hit the press. Get June'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.