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Cybersecurity in a Post-COVID World

Cybersecurity in a Post-COVID World
July 12, 2021

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Major crises have a way of laying bare the collective vulnerabilities of a city, nation, community, or world. The 9/11 and 2008 financial crises both directed our attention to the lack of intelligence, regulation, and oversight that, in hindsight, could potentially have helped avoid the devastating consequences. COVID-19 will be no exception. The pandemic cast doubt upon our nation’s ability to rapidly curb the spread of a contagious virus as well as shed more light on racial and socioeconomic inequality.

As the pandemic created an unprecedented shift to a reliance on technology and with it, ample opportunity for security threats against businesses, schools, and the government, the cybersecurity industry rapidly climbed in investor interest in 2020. The interest is still spiking upwards into 2021. According to data from Crunchbase, the first half of 2021 has already exceeded the 2020 record of $7.8BN in cybersecurity-related funding, hitting $9BN at the end of the 2nd quarter. 



Fundings

The funding is trending towards large investments in early-stage companies, such as Vanta’s $50MM Round A in May, to build upon the company’s platform for centralizing security. The company has nearly doubled its employees this year.

One of the larger investments this year was in Paris-based crypto-security startup, Ledger Wallet, with $380MM pouring into the company in May. Palo Alto-based Salt Security received a $70MM round C led by Advent International for API security measures. Eden Prairie, Minnesota boasts the $4BN valued cloud security company Arctic Wolf Networks. Arctic's user-behavior monitoring software has nearly tripled the company's revenues and employees since before the pandemic.


The Safe Bet?

Security remains a top priority for both small and large companies as more time and assets are spent online and as attackers continue to become more sophisticated. While valuations and investments are through the roof, there is no such thing as a safe bet. Investment experts warn against betting on the never-ending stream of new companies promising to fulfill increasingly niche categories of security.

This week’s SPACs & IPOs

PayCor: Payroll, HR & employee benefits, oh my!

SPAC: PYCR
 

Blend Labs: Digital lender

IPO: BLND

Expected Share Price: $16-18

Shares: 20MM


F45 Training: Group fitness training

IPO: FXLV

Expected Share Price: $15-17

Shares: 20MM
 

Since last week, PrivCo has added:
384 Companies | 135 Funding Activities | 87 M&A Deals

Funding & Deal Highlights:

 

Assured Allies raises $18.3MM from Core Innovation Capital & New Era Capital Partners

Insurance Services •Round A • Wellesley Hills, MA
 

Opaque raises $9.5MM from Intel Capital 

Analytics Software & Internet Services • Seed • Berkeley, CA
 

Unit21 raises $34MM from Tiger Global Management

Fintech Software & Internet Services • Round B • San Francisco, CA
 

The @ Company raises $11MM from Kirk Brown

Open Source Software & Internet Services • Seed • San Jose, CA
 

Daupler raises $4MM from Burnt Island Ventures

Emergency  Software & Internet Services • Round A • Kansas City, MO
 

Hyperfine acquires HyperHealthCor Catalio Acquisition Corp.

Health Care Equipment • SPAC • Guilford, CT
 

KKR acquires Neighborly

Real Estate • Acquisition • Waco, TX
 

48forty Solutions acquires Oregon Pallet Repair 

Packaging & Containers • Acquisition • Salem, OR
 

L2 Capital Partners acquires Ecotone

Sustainable Industrial Services • Acquisition • Forest Hill, MD
 

Genstar Capital acquires Foreside Fund Services 

Investment Banking, Trading & Brokerage • Acquisition • Portland, ME
 

The Blackstone Group acquires Sphera Solutions for $1.4BN

Cloud Software & Internet Services • Acquisition • Chicago, IL

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