Market Insights

Friday Dealbook: Securing Unicorn Status

3/19/21

Victor Appelqvist

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Investors in this week’s deals reflect a market desire to fund solutions that better secure data privacy by providing authentication and cybersecurity use cases. Socure raised $100 million of Series D to serve that need, using AI and machine learning to verify identities. This reflects Wiz’s $130M of Series B fundraising to help scale their cloud infrastructure in the cybersecurity space, as well as LoginID’s $6 million seed funding round to improve their solutions for customer authentication and data privacy. In the public market, SailPoint’s undisclosed acquisition of ERP Maestro, an early-stage SaaS governance, risk, and compliance (GRC) solution reflects the increase of businesses requiring stronger identity verification, leveraging software solutions that integrate fraud use cases and robust authentication measures. 

OWI Focus

Top Deals This Week

Wiz
wiz.io
2020

Developer of a cloud security platform designed to help businesses to secure their cloud infrastructure at scale. The company's platform offers innovative cloud visibility services for enterprise security that offers an overview of security risks across clouds, containers and workloads without the need for agents or sidecars, enabling businesses to identify vulnerabilities, misconfigurations, network exposure, identities, privilege and exposed secrets.

 

The company raised $130 million of Series B venture funding from Insight Partners, Sequoia Capital and CyberStarts on March 17, 2021, putting the company's pre-money valuation at $1.57 billion. Index Ventures and other undisclosed investors also participated in the round. Previously, the company raised $100 million of Series A seed funding from Insight Partners, Sequoia Capital and CyberStarts on December 9, 2020, putting the company's pre-money valuation at $400 million. Index Ventures also participated in the round.

Socure
socure.com
2012

Developer of a digital identity authentication technology and platform built to mitigate identity fraud risks for financial institutions. The company's predictive analytics platform leverages artificial intelligence and machine-learning techniques with trusted online and offline data intelligence from email, phone, address, IP, device, velocity and the broader internet to verify identities in real-time, enabling organizations to reduce fraud rates, increase acceptance rates as well as lower compliance and manual review costs.

 

The company raised $100 million of Series D venture funding in a deal led by Accel on March 16, 2021, putting the company's pre-money valuation at $1.2 billion. Sorenson Ventures, Synchrony Ventures, Citi Ventures, Wells Fargo Strategic Capital, Flint Capital, Two Sigma Ventures, Commerce Ventures, Scale Venture Partners and other undisclosed investors also participated in the round. The funds will be used to support the company's rapid expansion across every consumer-facing vertical including online gaming, healthcare, telco, e-commerce, and on-demand services and also accelerate product innovation as the company continues to attract top talent.

LoginID
loginid.io
2018

Developer of customer authentication and data privacy software intended to provide a solution to privacy and compliance issues. The company's software meets the most advanced biometrics and regulatory compliance standards, thereby providing users with secure control over personal information through a compliant decentralized network.

 

The company raised $6 million of seed funding from Asli RI, FJ Labs and Will Wang Graylin on March 15, 2021. George Wallner, Damien Balsan, Leonis Investissement and Fabrice Grinda also participated in the round. The funds will be used to accelerate the adoption of the company's passwordless solutions.

Spotlight

Investor Highlights

CyberStarts
cyberstarts.com
2018

Founded in 2018, CyberStarts is a venture capital fund headquartered in Herzliya, Israel. The firm seeks to invest in the cybersecurity and information technology sectors.

 

Active Portfolio - 13

Investments (TTM) - 7

Med. Round Amount - $20.00M

Med. Valuation - $1.1 B

# of Exits - 0

 

Wiz

Fireblocks

Noname Security

Bionic

SPOTLIGHT
Public Highlights
SailPoint
sailpoint.com
2005

SailPoint Technologies Holdings Inc is a US-based company that acts as a provider of enterprise identity governance solutions. It mainly designs, develops, and markets identity governance software that helps organizations govern user access to critical systems and data. The company offers on-premises software and cloud-based solutions, which provide organizations with the intelligence required to empower users and govern their access to applications and data across hybrid IT (Information Technology) environments, whether comprising on-premises, cloud or mobile applications. The company markets its products and services throughout North America, Europe, and the Asia Pacific regions. Most of the company's revenue comes from the United States.

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