Predictions for cybersecurity investment in 2019 are holding true with funding announcements from four startups.
Cybersecurity startups Expanse, Armis, Bitglass, and Tufin announced financial news during a busy week for industry funding, giving a peek into the technology that is top-of-mind for investors.
The security market, expected to grow 8.7% and reach $124 billion in 2019, has been rife with funding activity. Venture capital investments hit a record high of $5.3 billion in 2018, about 20% more than the $4.4 billion in 2018 and 81% higher than in 2016. Experts say this rate of investment is unsustainable; however, security firms will continue to receive funding in 2019 and beyond.
But which ones? It’s tough to predict the security startups that will stick around for the long term. This week helped shed some light on which tech they think has the most potential now.
Let’s start with Expanse, a Bay Area startup formerly called Qadium, which this week announced $70 million in Series C funding. The company indexes global IP addresses with the goal of providing governments and large organizations with visibility into their “global Internet attack surface.” The startup has its roots in government: Co-founders Tim Junio, previously with the CIA, and Matt Kraning met at DARPA, where they first launched the security research lab Qadium that later became Expanse.
Expanse monitors activity linked to more than 400 million public IPs; customers include the US Department of Defense, Department of Energy, CVS, and PayPal. Its latest funding round was led by TPG Growth, with participation from NEA, IVP, Founders Fund, and MSD Capital. It also received investment from Peter Thiel, Arianna Huffington, Taylor Glover, and Sam Palmisano.
Enterprise Internet of Things (IoT) security firm Armis Security snagged $65 million in Series C investment and reported 700% growth in the past year. Founded in 2015, it offers an agentless IoT security tool created to help organizations view and …
Author: Kelly Sheridan Staff Editor, Dark Reading