Top Cybersecurity Funding and Investments in February 2021

A look at cybersecurity companies and startups raised funding in February 2021

With decades of efforts in strengthening the security aspect of enterprise IT systems, cybersecurity will remain a red-hot topic in 2021 and the years ahead. The last few years have seen an increasing surge in cyberattacks and data breaches across industries. This has majorly happened with enterprise adoption of advanced technologies and solutions and the emergence of new ways to comprise sensitive data. Since companies pour huge capital in cybersecurity to protect their assets, funding in this sector remained strong this year. According to the data from Crunchbase, the cybersecurity sector witnessed an investment of over US$8.1 billion globally, as of late December.

Here's the list of top cybersecurity funding and investment in February 2021.

CYE

Amount Raised: US$100 Million

Transaction Type: Series A

Key Investor(s): EQT

CYE, an Israel-based cybersecurity company, provides organizational security assessments, revealing complete attack routes and building optimized mitigation plans. Known for its cybersecurity optimization solutions, the company raised US$100 million in a Series A funding round led by EQT. The latest investment follows five years of partnership and will be used to continue CYE's hyper-growth in the global market.

Scalarr

Amount Raised: US$7.5 Million

Transaction Type: Series A

Key Investor(s): European Bank for Reconstruction and Development

An advanced mobile ad fraud detection solution powered by machine learning, Scalarr secured US$7.5 million in a Series A round to combat mobile ad fraud. The round was led by the European Bank of Reconstruction and Development (EBRD), with participation from TMT Investments, OTB Ventures, and Speedinvest. Founded in 2016, Scalarr helps mobile app developers and ad networks worldwide to fight against all types of fraud, including attribution fraud, bots and emulators, incentive injections and more.

SecurityAdvisor

Amount Raised: US$7.3 Million

Transaction Type: Series A

Key Investor(s): ClearSky

SecurityAdvisor, a security awareness training and automation company that tackles security incidents within organizations, bagged US$7.3 million in a Series A round. The round was led by ClearSky Security along with additional investment from Crosslink Capital, SixThirty Ventures, and Cyber Mentor Fund. The capital will enable SecurityAdvisor to support product development and drive market awareness of its innovative offering amongst enterprise security leaders.

Horizon3.ai

Amount Raised: US$5 Million

Transaction Type: Series A

Key Investor(s): SignalFire

California-based cybersecurity company Horizon3.ai raised US$5 million in a Series A round led by SignalFire. The company provides continuous, automated Pen Test operations to enable customers to understand whether critical systems and data are protected, what urgent issues must be immediately triaged or remediated, how to prioritize vulnerabilities and other defensive efforts, whether detection and remediation times are improving, and identify ineffective tools, controls, policies, processes, and training.

anecdotes

Amount Raised: US$5 Million

Transaction Type: Seed Round

Key Investor(s): Aleph, Glilot Capital Partners

Anecdotes, a cybersecurity startup that builds enterprise-grade compliance solutions, raised US$5 million in a Seed funding round. The fresh capital intends to use to expand the adoption of the platform amongst mature enterprises and hyper-growth companies with complex compliance. The round was co-led by Aleph and Glilot Capital Partners with participation from Gerhard Eschelbeck, former CISO of Google, and Ron Zoran, former CRO of Cyberark.

Cavelo

Amount Raised: CA$1.3 Million

Transaction Type: Pre-Seed Round

Key Investor(s): MaRS Investment Accelerator Fund

Data discovery and cybersecurity startup Cavelo secured CA$1.3 million (US$1.02 million) in a pre-seed funding round led by MaRS Investment Accelerator. The fund will be used to expand Cavelo's hiring efforts and platform development to meet customer demand across North America. The company provides a platform that helps businesses discover, classify, track and manage sensitive data in alignment with industry and regulatory reporting requirements.