12 Security Startups That Raised New Funding in July 2017

In July, a number cyber-security vendors raised new funding to help support as well as grow their technology and go-to-market efforts. July 11 and 12 were particularly active days, with eight vendors announcing new investments. Unlike June, where there were several companies that raised $100 million or more, the top funding amount in July was only $75 million, which machine learning cyber-security vendor Darktrace raised on July 11. Multiple vendors also used the week of the Black Hat and DefCon security conferences to announce new funding, including Nyotron, Bricata and PerimeterX. In this slide show, eWEEK takes a look at 12 security vendors that raised money in July 2017.

Malware protection vendor Lastline announced on July 11 that it had raised $28.5 million in new funding. “This powerful endorsement from the investment community speaks to the market need for a solution that delivers exceptional enterprise security at dramatically lower costs,” Christopher Kruegel, co-founder and CEO of Lastline, said in a statement.

Also on July 11, machine learning cyber-security vendor Darktrace announced that it had raised $75 million in a Series D round of funding. The company’s core platform, called the Enterprise Immune System, makes use of artificial intelligence algorithms to automatically detect and remediate cyber-threats.

Cyber-risk quantification vendor RiskLens announced a $5 million round of funding on July 11 to help grow the market for the company’s technology. “We are experiencing unprecedented demand for our risk quantification solutions as risk and security professionals are challenged today to effectively communicate risk posture to C-suite executives and board directors, assess the ROI of their security investments and prioritize their organization’s finite resources,” RiskLens CEO Nick Sanna said in a statement.

slide 4: Cloud Workload Security Vendor HyTrust Raises $36M
Another company that announced funding on July 11 is cloud workload security vendor HyTrust, which raised $36 million in a Series E round of funding.

On July 12, ZeroFox announced that it has raised $40 million in a Series C round of funding. ZeroFox’s technology aims to help users and organizations secure their social media accounts from various forms of cyber-attacks.

Also on July 12, business risk intelligence (BRI) vendor Flashpoint closed a $28 million Series C round of funding to help grow its go-to-market and technology efforts.

Another company that announced new funding on July 12 was Deep Instinct, raising $32 million in a Series B round of funding. Deep Instinct applies artificial intelligence capabilities to defend again security threats as part of its endpoint protection platform (EPP). “Confidence continues to decline in the ability of traditional solutions to prevent and predict threats in EPP or mobile,” Lane Bess, board chairman at Deep Instinct, said in a statement. “Deep learning will close the gap created by existing technology and early machine learning and AI technologies.”

Nok Nok Labs also announced funding on July 12, with an $8 million Series D round of funding. Nok Nok Labs develops strong authentication technologies to help improve security and reduce risk.

On July 18, network security visibility vendor Corelight announced that it has raised $9.2 million in a Series A round of funding. “We help our customers solve cybersecurity problems faster than they can today, often decreasing the time to resolve incidents from hours and days down to minutes,” Greg Bell, CEO of Corelight, said in a statement. “This new investment will accelerate our progress.”

On July 24, cyber-security vendor Nyotron announced that it had closed a $21 million round of funding. “Nyotron offers a completely different approach to protect enterprises from ‘unknown unknown’ attacks,” Pete Stewart, CEO of Nyotron, said in a statement. “This patented technology will drive our growth and continued customer traction.”

Network intrusion detection and prevention vendor Bricata announced on July 25 that it had raised an $8 million Series A round of funding. “To date, our ability to develop and commercialize a product that is solving real and urgent cybersecurity problems at scale has been largely self-funded, but this injection of capital will mark a sizable turning point for the company,” Bricata CEO John Trauth said in a statement.

PerimeterX announced its $23 million Series B round of funding on July 25. “Next-generation automated web attacks today threaten the integrity of the web by impersonating humans and abusing business logic rather than breaching systems, and they even harm the integrity of our political system by spreading fake news,” Omri Iluz, CEO of PerimeterX, said in a statement. “With cutting-edge artificial intelligence and machine learning, the PerimeterX platform technology is purpose-built to address this problem head-on by detecting and blocking the most advanced malicious bots in real-time, at any scale.”