Fintech Funds: Safeguarding cyberspace with AI and cloud investments.

January 2, 2024
1 min read

Funding Files: Cyber security, AI and cloud deal roundup

Here’s a quick look at some of the funding deals and acquisitions that transpired in December in the cloud, data, cybersecurity, and AI space.

Key Points:

  • ArmorCode raises $40 million in Series B funding to advance its mission of helping companies ship secure software
  • Mine secures $30 million in Series B funding to redefine data privacy and governance management
  • Xeol raises $3.2 million in Seed funding to secure software throughout its lifecycle
  • Zero Networks raises $20 million in Series B funding for zero trust identity and network security solutions
  • Guardz raises $18 million in Series A funding to secure and insure small businesses

The last month of 2023 also saw its share of investments in cloud, data, cyber, and AI startups. The month also saw a couple of acquisitions. While there were not any big ticket fundings announced, ArmorCode, the leader in Application Security Posture Management and Risk-Based Vulnerability Management, announced it closed a pre-emptive $40 million Series B round to advance its mission of helping companies ship secure software fast and at scale. Similarly, SimSpace, a US-based market leader in military-grade cybersecurity, announced that it has closed a $45 million equity raise led by L2 Point Management.

In acquisitions, the big ticket acquisition that made headlines was IBM announcing that it has entered into a definitive agreement with Software AG, a company majority owned by Silver Lake, to purchase StreamSets and webMethods, Software AG’s Super iPaaS enterprise technology platforms, for €2.13 billion in cash. In other news, Honeywell announced plans to enhance and strengthen its building automation capabilities with the acquisition of Carrier Global Corporation’s Global Access Solutions business for $4.95 billion, in an all-cash transaction.

Fundings/Investments:

ArmorCode raises $40 Million in Series B Funding

ArmorCode, the leader in Application Security Posture Management (ASPM) and Risk-Based Vulnerability Management (RBVM), announced it closed a pre-emptive $40 million Series B round to advance its mission of helping companies ship secure software fast and at scale. Premier venture firm HighlandX led the round, joined by NGP Capital, along with participation from existing investors Ballistic Ventures, Sierra Ventures and Cervin Ventures. As part of HighlandX’s investment, Managing Partner Corey Mulloy will join ArmorCode’s board. This marks a total of $65 million raised to propel organisations toward fully understanding and improving the state of their software risk.

Mine secures $30 Million in Series B Funding

Mine, a pioneering company disrupting the data privacy market, announced that it has raised $30 million in Series B funding, co-led by Battery Ventures and PayPal Ventures, with significant investments from Nationwide Ventures and with the participation of all existing investors including Saban Ventures, Gradient Ventures (Google’s AI), MassMutual Ventures and Headline Ventures. This substantial investment will propel Mine’s mission to redefine data privacy and governance management for companies globally, enabling them to gain better control over their data and simplify regulatory compliance processes to get peace of mind.

Cybersecurity startup Xeol raises $3.2 Million in Seed Funding

Latest from Blog

44k Americans first to suffer data breach: Are you next?

TLDR: First American Financial Corporation disclosed a data breach affecting 44,000 individuals in December 2023. The company offered free credit monitoring and identity protection services to the affected individuals. The First American