The importance of cybersecurity wasn’t always clear to business leaders, but the last few years have made us realize how imminent threats can ruin an enterprise.
There’s a reason business leaders worry about digital defenses. The pandemic has ushered in a new era of remote work.
Remote work means that professionals have come to rely on using personal devices for work purposes outside the office. This increases the risk of data leaks and breaches by thieves using laptops, IT management firm Core wrote in a recent blog.
In addition to that, the ongoing Russian-Ukrainian war is also being fought online and could spill over to other countries, making it clear that cyber threats are becoming more and more dangerous.
That’s where cybersecurity companies come in. Research firm GlobalData defines cybersecurity as “the collection of technologies, processes, and practices designed to protect networks, computers, programs, and electronic data from attack, damage, or unauthorized access.”
Weak digital defenses can result in millions of dollars in fines, reputational damage, and hefty ransoms if companies mispay. Hackers are constantly probing a company’s digital defenses, so the need for strong cybersecurity is clear.
It’s no surprise that the number of cybersecurity deals conducted each year has steadily increased over the past five years, according to GlobalData data.
In 2015, the industry secured $85 billion in 496 deals. Then there was a significant decline in 2016, when the industry received $16 billion in his 530 cybersecurity deals. Those numbers will continue to skyrocket over the next few years, with the industry peaking in 2021 when he secured $91 billion in 889 deals.
Cybersecurity deals have suffered yet another significant drop this year. Currently, the industry has received $32 billion in cash injections in 612 transactions so far in 2022.
But as I said at the beginning, cybersecurity is becoming more and more important this year. Because of Putin’s raging wars and society readjusting to life after the pandemic. This is reflected in the top 10 cybersecurity deals to watch in November. These were his November biggest deals recorded in the GlobalData technology deal database.
Privy Identitas Digital Secures $48 Million in Series C Funding Led by KKR & Co
Privy Identitas Digital, a service provider that knows its customers, secured $48 million in a Series C funding round in November. Indonesian startups use capital to expand into international markets to further expand their operations.
Investment firm KKR led the financing. MDI Ventures, GGV Capital, Telkomsel Mitra Inovasi and new investor Singtel Innov8 also participated in the funding.
Privy CEO and co-founder Marshall Pribadi said in a statement: The progress Privy has made in its journey, its long-term vision of building digital trust through its platform, and its conviction in the potential of Indonesia’s digital transformation.
“With their support and global experience and the support of our existing investors MDI Ventures, GGV Capital, and TMI, who have played a key role in achieving our success to date, Privy will continue to invest in new products and more. We will provide powerful functions and build a strong foundation for overseas expansion.”
Bishop Fox secures another $46 million
Aggressive security firm Bishop Fox raised $46 million in growth funding in November. Westcap led funding for an Arizona-based venture company. Additional contributions from NextEquity Partners and Rockpool Capital.
Added to the $75 million cash injection Bishop Fox received from Carrick Capital earlier this year, the funding brings the total funding for the round to $129 million. VC News Daily.
Bishop Fox has raised more than $154 million in lifetime funding, including a $25 million Series A investment from Forgepoint Capital, the magazine writes.
This cybersecurity firm has continuously provided penetration testing, attack service management, and security assessments for most of 20 years.
WestCap partner Kevin Marcus said:
“Their ability to continuously monitor the attack surface is particularly timely in today’s context of increasing attack frequency and costly data breaches.”
The funding will be used to accelerate the expansion of Bishop Fox’s award-winning Cosmos platform, as well as help develop a new generation of cyber talent.
MedCrypt raises $25 million for medical devices
MedCrypt, a medical device cybersecurity solutions provider, received $25 million in a Series B funding round in another November deal.
The round consisted of investments from Intuitive Ventures, Johnson & Johnson Innovation, and institutional participation from Section 32, ENIAC Ventures, Anzu Partners and Dolby Family Ventures.
MedCrypt currently provides a range of security features and services to 7 of the top 10 medical device manufacturers, including start-ups and mid-market companies.
MedCrypt CEO Mike Kijewski said:
This round of funding brings the company’s total to date to $34.4 million.
Red Points secures $20.7 million in venture funding
Red Points Solutions, developer of software for protecting intellectual property that removes and recovers content, secured $20.7 million in venture funding in November.
Iris Capital supported this funding along with existing investors Summit Partners and Eight Roads.
The Spain-based developer will use the funds to further advance its technology to detect online fraud.
“The OECD estimates that counterfeit goods cost the global economy more than €450 billion annually. This is just one of many threats brands and consumers face digitally.” Red Points CEO and President Laura Urquizu said in a statement.
“Red Points will enable businesses to recoup revenue and brand equity lost to fraud. This new funding will help accelerate adoption of the technology that effectively does just that.”
Second Front Systems secures $19.13m in funding round
Second Front Systems, a US-based developer of security software for the aerospace and defense industry, received $19.13 million in November.
This funding comes after the company has proposed a $20 million funding round.
Eye Security secures $17.65 million in venture financing
Europe-based cybersecurity firm Eye Security received $17.65 million in venture funding in November.
Eye Security currently provides responsive insurance and cyber security to companies across Europe with multiple offices and over 70 employees.
The funding comes from a new funding round led by Bessemer Venture Partners, a prominent global venture capital firm.
Alex Ferrara, partner at Bessemer Venture Partners, said:
“We look forward to partnering with Eye Security in their mission to protect small and medium businesses from cyber risks.”
The funding will be used to implement Eye Security’s expansion plans and further the company’s mission to reduce cybersecurity risks in Europe.
Dust Mobile raises $12.4 million in funding
Belgium-based mobile cyber defense provider Dust Mobile received $12.4 million in funding led by the Defense Innovation Fund in a separate cybersecurity deal in November.
Founded in 2017, the company provides secure and resilient mobile communications that support businesses, critical operations and organizations around the world.
Dust Mobile will use this funding to accelerate its development into Europe, France and beyond, and strengthen its operational and commercial resources.
Darwinium will receive $10 million in venture financing from two Australian venture capitalist firms.
Customer protection platform Darwinium has received a $10 million seed funding round from Blackbird and Airtree, two Australian-based VC firms.
The funding round will reportedly be used by Darwinium to boost its global launch into the security and fraud division.
This was due to additional funding from prominent angel investors such as Naval Ravikant and Jeff Fagnan.
Secuchart Global receives $5.74 million in venture financing
South Korean anti-phishing and blockchain ranking service company Seuchart Global has secured $5.74 million in venture financing from BNK Capital and Coentree Investment.
The company will use the funds to focus on solving new trends and problems.
Predimya (Before.AI) Receives $3.98 Million in Series A Funding
Bfore.ai, a predictive cybersecurity solutions provider, received just under $4 million in Series A funding in November.
The company says it will use the funds to continue advancing its suite of the world’s first and only predictive cybersecurity solutions.
Bfore.AI has raised funding from early-stage venture capital firms Karma VC and Karista, as well as a number of angel investors.
“We are energized by the interest and support shown by investors who share our passion to make the world safer. We can give more organizations the opportunity to stay ahead of the curve,” said Luigi Lenguito, CEO of Bfore.Ai.
DroneShield Secures $2.46 Million in Private Stock
DroneShield, a provider of artificial intelligence systems for anti-drone technology, has received $2.46 million in funding from a private placement of shares.
The company said it plans to use the funds to expand its inventory and expedite its expected backlog of orders.
GlobalData is the parent company of Verdict and its sister publications.