The drastic increase in data and sensitive document transfers occurring in the cloud and the companies seeking increased protection against hackers and data breaches have paved the way for many new cybersecurity startups to capitalize on the opportunity. With the plunge in tech stocks and the freeze in the IPO market, the funding environment for cybersecurity startups has come under pressure. According to Pitchbook, the amount of venture capital investment in the first quarter was off by 35.8% to US$5.1 billion on a quarter-over-quarter basis. The median late-stage valuation fell by 26.1%. This has also opened up doors for venture capitalists that are all set with their new funding. That being said, here is our pick of the top 10 biggest cybersecurity funding in the first half of 2022.
Vanta Inc., a startup that helps organizations comply with cybersecurity standards such as SOC 2, has raised US$110 million in funding at a US$1.6 billion valuation. The funding round was led by Craft Ventures. The San Francisco-based startup said in its announcement of the Series B round today that Sequoia Capital, Y Combinator, and other existing backers had participated as well. It is one of the biggest cybersecurity funding in the first half of 2022.
Cybersecurity provider Devo Technology Inc. today announced that it has closed a US$100 million funding round at a US$2 billion valuation. The investment was led by the Paris-based investment firm Eurazeo. All of Devo's existing backers participated as well along with ISAI Cap Venture, a fund that makes startup investments on behalf of technology services giant Capgemini SE.
A cybersecurity startup based in Morrisville announced it had closed a US$70 million funding round and achieved an estimated total value of over US$1 billion. JupiterOne has charted meteoric growth since its inception in 2018. Its founder and CEO, Erkang Zheng, started the company after working as a chief information security officer at LifeOmic, a health care data firm with offices in Morrisville. It is one of the biggest cybersecurity funding in the first half of 2022.
Cybersecurity startup CybSafe has raised US$28 million in Series B funding. The funding round was led by venture capital firm Evolution Equity Partners and Emerald Development Managers. Existing investors who participated were IQ Capital and Hannover Digital Investments (HDI) GmbH. This new funding brings the company's total raised funds to about US$40 million.
Amsterdam-based Hadrian, a "hacker-led" cybersecurity startup that offers a SaaS platform that simulates an attack. It's closed a €10.5 million seed round led by HV Capital, with participation from Picus Capital, Slimmer AI, and angels including Adriaan Mol, Koen Köppen, and Niklas Hellman. It is one of the biggest cybersecurity funding in the first half of 2022.
RevealSecurity, the leader of Application Detection and Response, announced a US$23M Series A funding round. RevealSecurity protects organizations against malicious activities executed by insiders and imposters in enterprise applications. The funding will be dedicated to accelerating RevealSecurity's global expansion and product development and is led by SYN ventures, with participation from Hanaco Ventures, SilverTech Ventures, and World Trade Ventures.
Tiger Global and Salesforce.com Inc.'s venture capital arm have invested US$30 million in cybersecurity startup Laminar Ltd. as part of a funding round announced today. The round, which comes six months after Laminar's launch from stealth mode, brings its total outside funding to US$67 million. The Tel Aviv-based startup also counts Insight Partners and publicly traded cybersecurity SentinelOne Inc. among its investors.
Cybersecurity startup SubCom (Subconscious Compute) said that it has raised US$1 million investment in a seed-funding round from YourNest Venture Capital, ISV Capital, and an existing investor, Entrepreneur First. The round also saw participation from Bikky Khosla, Chairman TradeIndia, Varun Alagh, Founder, MamaEarth, Harjot Gill, Founder, FluxNinja & Netsil, and some senior executives from Google, Netflix & Visa.
Cybersecurity startup Jit.io, which makes the field of product security accessible to application developers on the cloud, has raised US$38.5 million in Seed funding led by Boldstart Ventures, Insight Partners, Tiger Global Management, and strategic angel investors. The Israeli startup builds an on-ramp for bringing security into the developer and DevOps workflow and ensures that product security is there from day zero.
AppOmni, an independent software vendor based in San Francisco, yesterday announced it has secured a US$70 million Series C equity investment. The company specializes in providing services that analyze and secure several leading SaaS systems, including Salesforce, against internal and external threat actors.
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