October's cyber security vendor transaction highlights
- 25 total funding and M&A transactions
- $675.5 Million raised over 20 rounds
- 5 M&A events
Crunching the Numbers
- The $675.5 Million raised in October 2024 represents a nominal 3% increase in funding raised when compared to October 2023.
- 20 funding rounds were tracked in October ’24 compared to 28 in October, ’23.
- Early-stage funding (Seed, Series-A) represents 50% of all October 2024 funding rounds recorded.
- 8 Series-B rounds were recorded in October, further illustrating the dominance of early-stage funding in the industry.
- Armis’ $200M raise accounted for ~30% of all October funding dollars.
- YTD vendors raised $8.5 Billion, a 9% increase over the same period in 2023.
October's funding round breakdown
October's funding rounds and mergers & acquisitions
Funding
M&A
Funding
| Vendor | Activity Type | Financials | Lead Investor | Market Segment |
| Prime Security | Seed | $6,000,000 | Foundation Capital | AppSec |
| MIND | Seed | $11,000,000 | YL Ventures | Data |
| Harmonic Security | Funding, A | $17,500,000 | Next47 | AI/LLM |
| Neeve | Funding, A | $15,000,000 | Cantor Fitzgerald | IoT |
| watchTower | Funding, A | $19,000,000 | Peak XV | Vulnerability |
| CYRISMA | Funding, A | $7,000,000 | Blueprint Equity | GRC |
| DeNexus | Funding, A | $17,500,000 | Punja Global Ventures | OT/ICS |
| zkPass | Funding, A | $12,500,000 | dao5 | Data |
| Reality Defender | Funding, A | $33,000,000 | Illuminate Financial | Fraud |
| Abstract Security | Funding, A | $15,000,000 | Munich Re Ventures | SIEM |
| Relyance AI | Funding, B | $32,000,000 | Thomvest Ventures | GRC |
| Stoik | Funding, B | $27,000,000 | Alven | Cyber Insurance |
| Stream.Security | Funding, B | $30,000,000 | US Venture Partners | Vulnerability |
| Socket | Funding, B | $40,000,000 | Andreesen Horowitz | Supply Chain |
| Concentric AI | Funding, B | $45,000,000 | Top Tier Capital | Data |
| Filigran | Funding, B | $35,000,000 | Insight Partners | Threat Intel |
| Cyber Guru | Funding, B | $25,000,000 | Riverside Acceleration Capital | Training |
| Zenity | Funding, B | $38,000,000 | Third Point Ventures | AppSec |
| Armis | Funding, D | $200,000,000 | Alkeon Capital | IoT |
| HUMAN | Growth Funding | $50,000,000 | WestCap | Bot |
M&A
| Vendor | Activity Type | Acquiring Company | Financials | Market Segment |
| Network Perception | Acquisition | Dragos | Undisclosed | OT/ICS |
| Trail Security | Acquisition | Cyera | $162,000,000 | Data |
| SecureWorks | Acquisition | Sophos | $859,000,000 | XDR |
| Effectiv | Acquisition | Socure | $136,000,000 | Fraud |
| Normalyze | Acquisition | Proofpoint | Undisclosed | Data |
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.
