Financing for cybersecurity ventures saw a modest rebound in the first quarter of the yr, and several large increases on Tuesday may indicate that this trend continues.
Enterprise browser developer based in Dallas Island raised a $175 million Series D at a $3 billion valuation, doubling its last valuation from lower than a yr ago. The round was led by a recent investor Coat and current investor Capital of Sequoia.
Island is no stranger to big-money rounds. In October, it raised $100 million in a Series C round led by: The capital of Pryzm which valued the company at $1.5 billion. In March 2022, it announced a $115 million Series B at a $1.3 billion valuation led by Insight partners. Island has raised a total of $487 million in investment up to now, based on the company.
More money
Additionally, discovering and triggering open networks in San Francisco Core light closed a $150 million Series E investment, of which he led Speed upwith additional strategic investments from Cisco investments and CrowdStrike Falcon Fund.
Founded in 2013, the company that uses network and cloud activity to detect and reply to threats has raised nearly $310 million, on Crunchbase.
These rounds are the latest sign that investors are returning to cybersecurity after enterprise funding declined for much of the last yr.
Cyber startups raised nearly $2.7 billion across 154 deals in the first quarter, based on Crunchbase data. This amount is the highest since the first quarter of last yr, when similar startups raised just below $2.9 billion in 228 deals. However, the dollar figure for the first quarter of 2024 represents a 69% increase over the previous quarter, when cyber startups raised just $1.6 billion in 148 deals.