VC Cash Infusion Helping Security Vendors Bolster Efforts

Security remains one of the hottest sectors of IT for venture capitalists and vendors alike. In April, a number of firms raised new funding to help support and grow their technology and go-to-market efforts. The new funding highlights the different areas of security that are growing, including cloud, industrial control systems (ICS), cyber-risk, bug bounty and containers. Secure cloud hosting vendor Armor brought in the most money in April, raising $89 million in a new round of equity financing. ICS cyber-security vendor PAS raised the second highest amount, bringing in $40 million to help grow its business. In this slide show, eWEEK takes a look at seven security vendors that raised money in April.

On April 4, SlashNext announced its Series A round of funding, bringing in $9 million from investors including Norwest Venture Partners and Wing Venture Capital. “The SlashNext product has the unique ability to not only stop the most advanced malware, but also socially engineered attacks that spread through social media, email and messaging apps, all without the need for end point agents,” said Atif Mushtaq, CEO and founder of SlashNext, in a statement.

On April 5, secure cloud hosting provider Armor announced that it raised $89 million in a new round of equity financing. Armor was originally known as Firehost before rebranding in August 2015.

Securing industrial control systems is a growing market for cyber-security vendors, which is why Houston-based PAS announced on April 11 that it raised $40 million in a new round of funding. The new funding was led by Tinicum L.P.

On April 18, CyberGRX announced its $20 million Series B round of funding, led by Bessemer Venture Partners. CyberGRX provides a third-party cyber-risk platform that aims to help organizations limit exposure and improve security.

Cloud infrastructure security vendor Dome9 announced on April 19 that it had raised $16.5 million in a Series C round of funding led by SoftBank Corp. Total funding to date for Dome9 is now $29 million. Dome9’s core product is the Arc software-as-a-service (SaaS) platform that provides compliance and security features for cloud environments.

Managed bug bounty program services vendor Synack announced on April 24 that it raised $7.5 million in a Series A round of funding led by Kleiner Perks Caufield and Byers. Total funding to date for Synack now stands at $9 million.

On April 25, Twistlock announced a $17 million Series B round of funding led by Polaris Partners, bringing total funding to date to $30 million. Twistlock’s core platform provides runtime security for container deployments.