Relyance emerges from stealth to spot risky code

Relyance AI

Relyance, a San Francisco, California-based startup developing a real-time codebase analysis platform, today emerged from stealth with $30 million raised across seed and series A rounds from Unusual Ventures and Menlo Ventures. Co-CEOs Leila R. Golchehreh and Abhi Sharma say the funding will be used to expand the company’s engineering and sales teams as well as accelerate Relyance’s go-to-market strategy.

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Data operations platform Satori nabs $20M

Satori

Data operations platform Satori today announced that it raised $20 million in a series A round led by B Capital Group and Evolution Equity Partners, with participation from Satori’s seed investor YL Ventures. The company says it’ll use the funds, which bring its total raised to $25 million, to support product R&D and expand its go-to-market operations in the U.S.

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Rezilion raises $30M help security operations teams with tools to automate their busywork

Rezilion

Guggenheim Investments is leading the round with JVP and Kindred Capital also contributing. Rezilion said that unnamed executives from Google, Microsoft, CrowdStrike, IBM, Cisco, PayPal, JP Morgan Chase, Nasdaq, eBay, Symantec, RedHat, RSA and Tenable are also in the round. Previously, the company had raised $8 million.

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Monad emerges from stealth with $17M to solve the cybersecurity big data problem

Filing drawers

Cloud security startup Monad, which offers a platform for extracting and connecting data from various security tools, has launched from stealth with $17 million in Series A funding led by Index Ventures. 
Monad was founded on the belief that enterprise cybersecurity is a growing data management challenge, as organizations try to understand and interpret the masses of information that’s siloed within disconnected logs and databases. Once an organization has extracted data from their security tools, Monad’s Security Data Platform enables them to centralize that data within a data warehouse of choice, and normalize and enrich the data so that security teams have the insights they need to secure their systems and data effectively.
“Security is fundamentally a big data problem,” said Christian Almenar, CEO and co-founder of Monad. “Customers are often unable to access their security data in the streamlined manner that DevOps and cloud engineering teams need to build their apps quickly while also addressing their most pressing security and compliance challenges. We founded Monad to solve this security data challenge and liberate customers’ security data from siloed tools to make it accessible via any data warehouse of choice.”
The startup’s Series A funding round, which was also backed by Sequoia Capital, brings its total amount of investment raised to  $19 million and comes 12 months after its Sequoia-led seed round. The funds will enable Monad to scale its development efforts for its security data cloud platform, the startup said.
Monad was founded in May 2020 by security veterans Christian Almenar and Jacolon Walker. Almenar previously co-founded serverless security startup Intrinsic which was acquired by VMware in 2019, while Walker served as CISO and security engineer at OpenDoor, Collective Health, and Palantir.

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Industrial Cybersecurity startup TXOne Networks secures $12.9 million in “Series A” round of investment

TXOne Networks

TXOne Networks, a global leader in Industrial IoT (IIoT) security, announced that it has completed its “Series A” financing. This round was led by JAFCO Asia Investment, Jade Stone Jinghua Limited Partnership Fund, and a number of other well-known investors. TXOne Networks received an investment of $12.9 million this round, and in total has received $23.7 million in investments since its founding.

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KeepTruckin uses Ambarella AI chips to monitor truck drivers

Keep Trukin

KeepTruckin, a fleet management company, said today it will use Ambarella AI processors in its dashboard camera to monitor both road conditions and truck driver awareness. The system uses Ambarella’s CV22 CVflow Edge AI vision system on chip (SoC). The AI Dashcam uses a single CV22 SoC to simultaneously provide AI and image processing for its dual-camera system, which integrates one camera for the front advanced driver assistance system (ADAS) with incident recording, and a second RGB-infrared camera for the driver-monitoring system (DMS) with driver recording.

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Siga secures $8.1M Series B to prevent cyberattacks on critical infrastructure

Siga OT Solutions

Siga OT Solutions, an Israeli cybersecurity startup that helps organizations secure their operations by monitoring the raw electric signals of critical industrial assets, has raised $8.1 million in Series B funding.
Siga’s SigaGuard says its technology, used by Israel’s critical water facilities and the New York Power Authority, is unique in that rather than monitoring the operational network, it uses machine learning and predictive analysis to “listen” to Level 0 signals. These are typically made up of components and sensors that receive electrical signals, rather than protocols or data packets that can be manipulated by hackers.
By monitoring Level 0, which Siga describes as the “richest and most reliable level of process data within any operational environment,” the company can detect cyberattacks on the most critical and vulnerable physical assets of national infrastructures. This, it claims, ensures operational resiliency even when hackers are successful in manipulating the logic of industrial control system (ICS) controllers.
Amir Samoiloff, co-founder and CEO of Siga, says: “Level 0 is becoming the major axis in the resilience and integrity of critical national infrastructures worldwide and securing this level will become a major element in control systems in the coming years.”
The company’s latest round of funding — led by PureTerra Ventures, with investment from Israeli venture fund SIBF, Moore Capital, and Phoenix Contact — comes amid an escalation in attacks against operational infrastructure. Israel’s water infrastructure was hit by three known cyberattacks in 2020 and these were followed by an attack on the water system of a city in Florida that saw hackers briefly increase the amount of sodium hydroxide in Oldsmar’s water treatment system. 
The $8.1 million investment lands three years after the startup secured $3.5 million in Series A funding. The company said it will use the funding to accelerate its sales and strategic collaborations internationally, with a focus on North America, Europe, Asia, and the United Arab Emirates. 
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Forrester: Adopting fraud-fighting AI requires the right technical framework

Lock on a circuit board

AI tools have become part and parcel of fraud management solutions in the enterprise, according to a new Forrester report. In it, analysts at the firm identify key fraud management use cases where AI can help, mapping how brands can deploy AI technologies in each scenario.

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ReversingLabs raises $56M to combat software supply chain attacks

Reversing labs

ReversingLabs, a Cambridge, Massachusetts-based cybersecurity company developing threat detection and analysis solutions, has raised $56 million in series B funding led by Crosspoint Capital Partners with participation from ForgePoint Capital and Prelude. Cofounder and CEO Mario Vuksan says the proceeds, which bring its total raised to $81 million, will be put toward scaling ReversingLabs’ sales and marketing efforts as ReversingLabs looks to expand its global reach.

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Identity verification startup SentiLink raises $70M

Sentilink

SentiLink, a startup developing a platform to detect and block identity fraud, today announced it has raised $70 million in a series B round led by Craft Venture’s David Sacks, with participation from Felicis Ventures, Andreessen Horowitz, and NYCA. Cofounder and CEO Naftali Harris says the proceeds will be used to build out SentiLink’s product suite and expand its team.

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Nozomi Networks raises $100M to protect critical infrastructure

Man at a keyboard with code

Nozomi Networks, a company offering cybersecurity and operational visibility services for industrial control systems, today announced that it secured $100 million in a series D funding round led by Triangle Peak Partners, with participation from Forward Investments, Honeywell Ventures, Keysight Technologies, Porsche Digital, Telefónica Ventures, the U.S. government-affiliated In-Q-Tel, and others.

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Noetic Cyber raises $20M to automate cybersecurity remediation

Noetic Cyber

Noetic Cyber, a startup creating a platform that leverages automation to identify cyber threats, today emerged from stealth with $20 million, including $15 million in series A funding from Energy Impact Partners, TenEleven Ventures, and Glasswing Ventures. Cofounder and CEO Paul Ayers says that the funds will be used to scale up Noetic’s operations and go-to-market capabilities, allowing the team to grow particularly on the sales and marketing side.

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DNSFilter secures $30M Series A to step up fight against DNS-based threats

DNS filter

DNSFilter, an artificial intelligence startup that provides DNS protection to enterprises, has secured $30 million in Series A funding from Insight Partners. DNSFilter, as its name suggests, offers DNS-based web content filtering and threat protection. Unlike the majority of its competitors, which includes the likes of Palo Alto Networks and Webroot, the startup uses proprietary AI technology to continuously scan billions of domains daily, identifying anomalies and potential vectors for malware, ransomware, phishing, and fraud. 

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Safe Security raises $33M to manage and mitigate cyber risk

Safe Security

Safe Security, which provides a platform to measure cyber risk, today announced that it raised $33 million in a strategic investment from BT Group, the U.K.-based telecom provider. As a part of the investment, BT will be granted the exclusive rights to use and sell Safe Security products to organizations in the U.K. as it incorporates the platform into its wider portfolio. BT will also work with Safe Security to develop new products and with Safe’s customers to improve their cybersecurity postures, according to Safe Security CEO Saket Modi.

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Supply chain threats demand industrywide approach to AI

Chain

The supply chain is “remarkably complex,” Mattioli said, as it goes all the way back to the design of the chip or board, which is then sent to the foundry to be manufactured. Depending on the type of component, it may pass through a series of manufacturers before it reaches an OEM like Dell, HP, or Lenovo; a reseller like CDW; or a retailer like Best Buy. After all this, it’s finally shipped to the end user. Along each step of the way, the piece is handled by different companies and modes of transport (ship, truck, etc). That leaves a lot of different points where a malicious actor could sneak in a change or tamper with a step.

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Mimecast’s new AI tools protect against the sneakiest phishing attacks

Phishing email

Email security provider Mimecast this week launched Mimecast CyberGraph, an AI-driven add-on to Mimecast Secure Email Gateway (SEG) that sniffs out sophisticated and hard-to-detect phishing and impersonation threats, the company said.

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AI and financial processes: Balancing risk and reward

Juggling money

Of all the enterprise functions influenced by AI these days, perhaps none is more consequential than AI and financial processes. People don’t like when other people fiddle with their money, let alone an emotionless robot. But as it usually goes with first impressions, AI is winning converts in monetary circles, in no small part due to its ability to drive out inefficiencies and capitalize on hidden opportunities – basically creating more wealth out of existing wealth.

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Cybereason raises $275M at Series F, adds Steven Mnuchin to board

Cybereason

Cybereason, a US-Israeli late-stage cybersecurity startup that provides extended detection and response (XDR) services, has secured $275 million in Series F funding. 
The investment was led by Liberty Strategic Capital, a venture capital fund recently founded by Steven Mnuchin, who served as U.S. Treasury Secretary under the Trump administration. As part of the deal, Mnuchin will join Cybereason’s board of directors, along with Liberty advisor Gen. Joseph Dunford, who was chairman of the Joint Chiefs of Staff under Trump until his retirement in 2019.
Lior Div, CEO and co-founder of Cybereason, tells TechCrunch that the startup’s decision to work with Liberty Strategy Capital came down to the firm’s “massive network” and the “understanding of the financial and government markets that Mnuchin and Gen. Joseph Dunford bring to our team.”
“For example, the executive order on cybersecurity put out by the Biden Administration recommends that endpoint detection and response solutions be deployed on all endpoints,” Dior added. “This accelerates the importance of solutions like ours in the public market, and Liberty Strategic Capital has the relationships to help accelerate our go-to-market strategy in the federal sector.”
This round, which will be used to fuel “hypergrowth driven by strong market demand,” follows $389 million in prior funding from SoftBank, CRV, Spark Capital, and Lockheed Martin. The company didn’t state at what valuation it raised the funds, but it is estimated to be in the region of $3 billion.
Cybereason’s recent growth, which saw it end 2020 at over $120 million in annual recurring revenue, has been largely driven by its AI-powered platform. Unlike traditional alert-centric models, Cybereason’s Defense Platform is operation-centric, which means it exposes and remediates entire malicious operations. The service details the full attack story from root cause to impacted users and devices, which the company claims significantly reduces the time taken to investigate and recover from an enterprise-wide cyber attack. 
The company, whose competitors include the likes of BlackBerry-owned Cylance and CrowdStrike, also this week expanded its channel presence with the launch of its so-called Defenders League, a global program that enables channel partners to use its technology and services to help their customers prevent and recover from cyberattacks. Cybereason claims its technology has helped protect customers from the likes of the recent SolarWinds supply-chain attack and other high-profile ransomware attacks launched by DarkSide, REvil, and Conti groups. 
Today’s $275 million funding round is likely to be Cybereason’s last before it goes public. Div previously said in August 2019 the company planned to IPO within two years, though he wouldn’t be pressed on whether the company is gearing up to go public when asked by TechCrunch. However, the company did compare its latest investment to SentinelOne‘s November 2020 Series F round, which was secured just months before it filed for a $100 million IPO.

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Quantexa raises $153M to build out AI-based big data tools to track risk and run investigations

Quantexa

As financial crime has become significantly more sophisticated, so too have the tools that are used to combat it. Now, Quantexa — one of the more interesting startups that has been building AI-based solutions to help detect and stop money laundering, fraud, and other illicit activity — has raised a growth round of $153 million, both to continue expanding that business in financial services and to bring its tools into a wider context, so to speak: linking up the dots around all customer and other data.

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