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Largest cybersecurity venture capital deals in 2017

Nov 03, 20174 mins
Data and Information SecurityEnterpriseInternet Security

A look at venture capitalist firms that have invested $40 million or more into cybersecurity startups this year.

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The cybersecurity market fundamentals — namely $1 trillion in cumulative spending globally predicted for 2017 to 2021 in a market expected to grow by 12-15 percent year over year — paints a rosy picture for investors.

A bevy of venture capital deals in the $40 million and up range in 2017 to date is the backdrop.

Who has raised big bucks in the first three quarters of 2017? The Venture Funding Report, published quarterly by Cybersecurity Ventures, reports on 20 deals.

20 big cybersecurity investment deals

Sept. 19 — Threat Stack, a comprehensive intrusion-detection platform, announced it raised $45 million in a Series C funding round led by F-Prime Capital Partners.

Sept. 5 — Identity management startup ForgeRock announced an $88 million Series D investment round led by Accel with participation from KKR, Meritech Capital Partners and Foundation Capital. This brings the total to more than $140 million raised to date.

Aug. 30 — Cybersecurity startup Qadium raised $40 million in second-round funding led by later-stage venture capital firm Institutional Venture Partners.

Aug. 22 — Cybersecurity company Druva raised $80 million in a round led by Riverwood Capital. The round also included participation from previous backers Sequoia Capital India, Nexus Venture Partners, and Tenaya Capital, among others.

Aug. 3 — BlueteamGlobal announced the launch of operations, the merger into BlueteamGlobal of three cybersecurity technology businesses (BitVoyant, K2G and K2 Cyber Defense), and new funding for growth of more than $125 million in financing from institutional and individual investors.

July 12 — ZeroFOX, a social media and digital risk monitoring company, raised $40 million in Series C financing in a round led by Redline Capital Management and Silver Lake Waterman.

July 11 — Darktrace announced a $75 million Series D funding round led by Insight Venture Partners, with existing investors Summit Partners, KKR, and TenEleven Ventures also participating.

June 21 — Cybereason, a Boston-based cybersecurity firm specializing in endpoint detection and response to digital security breaches, announced it secured a $100 million funding from Japanese telecommunications firm SoftBank Corp.

June 7 — Adaptive cybersecurity company Illumio closed on $125 million funding with investment from Andreessen Horowitz, General Catalyst, Data Collective, and Accel, among others.

June 6 — Cybersecurity firm Netskope announced it raised $100 million from existing and new investors. The Series E round was led by existing investors Lightspeed Venture Partners and Accel. Sapphire Ventures and Geodesic Capital also participated.

May 4 — Signifyd, which specializes in ecommerce fraud, closed a $56 million Series C investment led by Bain Capital Ventures. Menlo Ventures and American Express also participated in the round.

April 11 — PAS, a provider of industrial control system (ICS) cybersecurity, process safety, and asset reliability solutions for the energy, power, and process industries, announced a $40 million growth investment by Tinicum, L.P.

April 5 — Armor, the first company to offer a secure hosted cloud, closed an $89 million equity financing round led by ST Telemedia (STT).

March 30 — SmartSky Networks, a North Carolina startup building cellular towers for in-flight connectivity, announced a $170 million Series B funding round. One target market is government agencies interested in the company’s ability to send live video streams off an airborne platform, the cybersecurity advantage of having narrower spot beams (which reduce the physical access reach of potential hackers), and SmartSky’s encryption.

March 9 — Cloud-based networking company Cradlepoint, with headquarters in Boise, Idaho, announced it raised a new $89 million Series C Round of funding focused on expanding its network security solutions.

Feb. 8 — HackerOne announced $40 million in Series C financing. The round was led by Dragoneer Investment Group.

Jan. 28 — Pindrop Security completed a $75 million Series C funding round, with investment from Google Capital, Andreessen Horowitz, and Institutional Venture Partners.

Jan. 25 — Internet security company SentinelOne raised $70 million in Series C financing. New investor Redpoint Ventures led the round, along with investment from Sound Ventures, Third Point Ventures, Data Collective, Granite Hill Capital Partners, Westly Group, and SineWave Ventures.

Jan. 12 — Transmit Security, an Israeli startup developing programmable biometric authentication, announced a $40 million self-founded round of financing.

Jan. 6 — Total data protection company Bitglass announced it raised $45 million in Series C funding from Future Fund, NEA, Norwest, Singtel Innov8, and others.

For more deal flow covering cybersecurity VC investments of $1 million and more, read the latest Venture Funding Report. The next report will publish at the end of the year and will cover transactions in the fourth quarter of 2017.

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Steve Morgan is the founder and CEO at Cybersecurity Ventures and editor in chief of the Cybersecurity Market Report. The Cybersecurity Market Report is published quarterly and covers the business of cybersecurity, including global market sizing and industry forecasts from consolidated research by IT analyst firms, emerging trends, employment, the federal sector, hot companies to watch, notable M&A, investment and IPO activity, and more.