Six cybersecurity startups to watch, according to VCs

Six cybersecurity startups to watch, according to VCs

As cyber threats increase, so does funding for cybersecurity startups with the intention of stopping them. According to Crunchbase, in 2021 he set a record with global venture capital money invested in the industry surpassing $ 21.8 billion.

Although most of the monster rounds were in the US, the big deals in Europe included the Swiss unicorn Acronis. $ 250 million increase with a valuation of $ 2.5 billion and French unicorn Shift Technology $ 220 million roundwhich set it at a value of more than $ 1 billion.

And it looks like demand will continue, according to a recent investigation by PwC two-thirds of UK business leaders expect cybersecurity threats to increase over the next 12 months.

But behind the headlines, what cybersecurity startups have gone under the radar? We asked four VCs to name the companies they believe could unlock the key to a more secure cyber future. Just a trap: they could not be companies in your portfolio.

Alston Zecha, partner of Eight Roads Ventures

Zecha is a partner in Eight Roads Ventures, a global venture capital firm that manages $ 11 billion in assets in offices in the United Kingdom, China, India, Japan and the United States. Alston joined Eight Roads in 2015 and invests in scaleups in Europe and Israel, with a specific interest in cybersecurity, fintech and SaaS companies.

Alston Zecha, partner of Eight Roads Ventures

GitGuardian – Paris, France

Paris-based GitGuardian automatically detects secrets (e.g. APIs, passwords) in the source code in public and private repositories. This is a growing risk in a world of open source and agile development. Developers often include numeric secrets when creating and testing code, but in the thousands of lines they continually share in repositories, it’s easy to forget to delete them, leaving the crown jewels unintentionally exposed.

Scanning and identifying secrets efficiently without false positives is a very complex task, done by GitGuardian, gaining applause from developers for automatically notifying them in near real time and being extremely easy to use.

Raised: $ 56.3 million
Founded: 2017

Exein – Rome, Italy

The other side of the benefits of the ubiquitous Internet of Things (IoT) smart devices is that all devices could be hacked. Most cybersecurity focuses on software, neglecting the most basic computational layer on which everything else runs: firmware recorded directly on your device to provide instructions for basic tasks, such as communicating with others. devices or control the standalone hardware such as a heart defibrillator.

EXein, based in Rome, detects compromises and automatically resolves suspicious behavior, as well as providing a vulnerability scan for any known or emerging threats. Developing firmware security is devilishly difficult, but the benefits for sectors such as critical national infrastructure, aerospace, automotive, healthcare and, of course, defense could be huge.

Raised: $ 8.8 million
Founded: 2018

Imran Ghory, partner at Blossom Capital

Ghory is a partner in Blossom Capital, a venture capital firm that invests in European technology. It is a Series A investor, interested in infrastructure, security and open source. Blossom Capital’s portfolio includes Sqreen and Tines cybersecurity startups.

Imran Ghory, partner at Blossom Capital

Immunefi – remote

Because the cryptographic ecosystem has evolved so rapidly and there is a shortage of cryptographic security talent, there is a massive shortage of security products that meet the needs of a space where security breaches are common and can have financial consequences. massive. Immunefi helps address this by creating a security bug reward platform in which Web3 and crypto projects can financially encourage individuals to discover and report security vulnerabilities in smart contracts, before they do so. make hackers.

Raised: $ 5.5 million
Founded: 2020

Rob Kniaz, partner at Hoxton Ventures

Kniaz is a partner in Hoxton Ventures, a start-up venture capital firm that invests in “European technology startups that can scale into big global winners.” It focuses on startups that disrupt existing industries or invent completely new market categories. He was one of the first investors in Babylon Health, Darktrace and Deliveroo.

Rob Kniaz, partner at Hoxton Ventures

Deer – United Kingdom

Cerbos is very interesting. It encrypts user control policy using a framework known as OPA that is becoming de facto access control. Cerbos allows a company to centrally define very granular permissions in many applications so that you can define it as a “sales manager” role that can approve expenses in one application and then close customer tickets in another.

Raised: $ 3.5 million
Founded: 2021

Damien Henault, partner of TempoCap

Henault is a partner in TempoCap, a growing European technology fund with offices in London, Paris and Berlin. TempoCap has developed a special cybersecurity experience with seven major investments in its current portfolio and one outlet, Ercom, which was acquired by the Thales Group in 2019.

Damien Henault, partner of TempoCap

Gatewatcher – France

Gatewatcher is without a doubt one of the most exciting startups in France in detecting cyber threats. Impressively, the company recently launched its new Nioni Aioniq platform that is continuously adapting to deliver a powerful response to known and unknown cyber threats, such as ransomware, APT, and zero-day vulnerability exploits.

Raised: $ 27.5 million
Founded: 2015

Panaseer – United Kingdom

Panaseer has done an exceptional job of cornering the business security market with the launch of its patented continuous monitoring monitoring platform. The company is the clear leader in this new critical mission segment and has consolidated its position as an innovative and forward-looking cybersecurity business.

Raised: $ 43 million
Founded: 2014

Steph Bailey is a writer on Sifted. She’s been tweeting since @steph_hbailey

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