The 10 cybersecurity vendors that raised the most cash in H1
CRN ranks the biggest cybersecurity investment rounds of the first half of 2018
Cybersecurity start-ups raised $3bn (£2.3bn) in the first half of this year, according to investment firm Momentum Cyber.
Q1 saw $963m raised, while Q2 brought in $2.08bn. The number of deals was however split evenly, with Q1 seeing 103 investments and Q2 seeing 106.
Q2 saw the largest total investment value since Momentum started tracking cybersecurity investment in Q1 2010, when the figure stood at just $197m.
If the rate of investment continues, 2018 will top the $5.3bn raised in the entire of 2017.
The most active security areas, according to Momentum, were: identity and access management, data security, risk and compliance, and threat intelligence.
Momentum Cyber has published a list of the top beneficiaries in H1, from which CRN has researched and profiled the top 10.
10. Fairwarning - $60m
This Florida-based firm announced its first round of funding in June, raking in $60m from California-based equity firm Mainsail Partners.
Founded in 2005, Fairwarning offers cloud application security services designed to protect tech including Salesforce and Office 365.
On its website Fairwarning claims to manage $650bn-worth of assets and 8,500 healthcare facilities.
The firm counts UK-based ITHealth and Capita among its key channel partners.
9. Claroty - $60m
Based in New York, Claroty announced a Series B round of $60m in June, adding to its first round of $32m which came in July 2016.
Claroty was founded in 2014 and provides a network protection platform to monitor work assets and communication patterns.
Aside from its New York base, the firm has offices in Washington, Tel Aviv and Paris.
8. Bitsight - $60m
Bitsight raised $60m in Series D funding in June, taking its total amount raised to $154.4m.
Founded in 2011, the Massachusetts-based cyber-risk management specialist uses its software to aid the carrying out of tasks associated with business risks.
According to Momentum, the Bitsight platform analyses vast amounts of external data to assist in the scrutiny of potential business decisions that could pose a threat to an organisation.
On its website Bitsight claims to "transform how companies manage third and fourth-party risk, underwrite cyber-insurance policies, benchmark security performance, and assess aggregate risk with objective, verifiable and actionable security ratings".
Tom Turner, the firm's CEO, previously had a VP role at IBM and a director role at Cisco.
Bitsight counts security giant Optiv among its key channel partners.
7. Ledger - $75.1m
Paris-based Ledger raised $75.1m in Series B funding in January, taking its total raised to $83.6m.
Launched in 2014, the firm specialises in providing security products around cryptocurrency and Blockchain.
Ledger targets both consumers and enterprises. Its hardware wallet, of which Ledger claims to have sold one million, is a USB-sized device that can be used to make payments in cryptocurrency and is priced at £89.99. A more advanced model costs just under £250.
In the enterprise space the firm offers a "vault" which it bills as a "multi-authorisation cryptocurrency wallet management solution", targeted at asset managers.
Click through to see the vendors ranked six to four
The 10 cybersecurity vendors that raised the most cash in H1
CRN ranks the biggest cybersecurity investment rounds of the first half of 2018
6. IronNet Cybersecurity - $78m
IronNet Cybersecurity took its total funding up to $110.5m in May with a Series B round of $78m.
The Maryland-based firm specialises in network visibility and provides alerts when threats are detected.
IronNet specifically focuses on the energy, finance and healthcare, government and manufacturing sectors.
The firm offers a security operations centre which provides 24/7 services around threat detection, hunting and analysis.
Its Red Team Operations unit also "helps clients illuminate defensive blind spots" by attempting to penetrate a network.
In terms of products, IronDefense is focused on detecting advanced threats on the network and end-points, while IronDome is a peer-to-peer solution which shares the threats it discovers across its users.
The above graph shows the cybersecurity vendors that have raised the most money ever, according to Momentum Cyber's research.
Three vendors - Tanium, CrowdStrike and Cylance - all raised cash in H1 this year.
Aside from the vendors featured above, a further 31 have raised over $100m, including Druva, Cybereason, SentinelOne and Darktrace.
The top 15 vendors have raised $4bn between them over the course of their existence.
5. Signifyd - $100m
E-commerce fraud prevention firm Signifyd has continued a fundraising spree that has seen it complete six rounds of investment in six years.
This latest round of $100m almost doubles the total amount raised by the San Jose-based firm, which now stands at $206.2m.
The Signifyd solution integrates into the existing platforms of e-commerce firms and claims to protect them from fraudulent payment transactions.
4. EzeCastle Integration - $115m
Founded in 1995, Eze Castle is the oldest vendor in this article, and also the only channel firm to be included.
Despite having been in existence for over 20 years, Eze Castle made its first funding round in June, raising $115m.
The firm claims to have been the "premier provider" of managed services in the investment management industry for 20 years and said that the funding will be used to capitalise on the "vast market opportunity" currently available, as well as to fuel a global expansion.
Eze Castle's vendor partners include Dell, Microsoft and Symantec. The MSP claims to have over 650 clients across the US, the UK and Asia.
Click through to see the vendors ranked three to one
The 10 cybersecurity vendors that raised the most cash in H1
CRN ranks the biggest cybersecurity investment rounds of the first half of 2018
3. Cylance - $120m
End-point protection vendor Cylance took its total raised to just under $300m in June after adding a Series E round of $120m, led by Blackstone.
Cylance claims to have pioneered artificial intelligence in cybersecurity and says its machine-learning product makes traditional anti-virus protection redundant.
Speaking to CRN earlier this year, Cylance's global channel boss Tim Mackie said the vendor was making good on its pledge to disrupt the market and claimed the firm has now moved out of start-up mode.
Cylance has a team of 70 employees across Europe, with 13 members of staff focusing on the UK and Ireland. The vendor said it will use this latest round of funding to accelerate its growth plans in Europe and Asia.
2. Tanium - $175m
Tanium scored the second biggest round in H1, at $175m, making the vendor the most-funded cybersecurity vendor of all time - with its total amount raised now at $582.3m.
This latest funding round has reportedly given Tanium a valuation of $5bn. By comparison, CrowdStrike is valued at around $3bn (see below).
Tanium's platform is designed to connect all the end-points within an organisation, and improve network visibility and management.
Last year Tanium said that it would use a previous round of funding to build out its channel in the UK.
1. CrowdStrike - $200m
The largest funding round of H1, at $200m, went to CrowdStrike - taking its total raised to $481.2m.
At the time the investment was announced, CrowdStrike claimed to have been valued at $3bn.
Its flagship Falcon platform is designed to detect and respond to threats in real time. The vendor burst onto the scene at the same time as next-gen newcomer Cylance.