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Accenture Announced Joint Investments and Extended Relationship with AWS to Help Organizations Get to Cloud Value

Accenture announced that its strategic joint business group with Amazon Web Services, Inc. is renewed (AWS). Accenture and AWS will make an extra joint investment for the next five years to help customers encourage innovation on the Cloud Continuum and boost business value at scale by providing solutions through the Accenture AWS Business Group, building on a 13-year relationship (AABG).

Following thousands of cloud projects, the extending AABG relationship announced will assist organisations in dealing with the technology, human, and business dimensions of cloud transformation at scale with greater speed and certainty. Accenture’s investment in AWS provides timely resources for Accenture Cloud First, a multi-service group that provides the full stack of cloud services designed specially to assist clients in becoming cloud-first businesses, letting them to fast-track their digital transformation, innovate faster, and create differentiated, sustainable value.

Accenture will build a series of new accelerators over the next five years to solve the most difficult challenges in cloud migrations, with the goal of enabling AWS innovations to be adopted up to 50% faster. Accenture will also continue to invest in data-driven solutions for talent development and organisational change as part of this investment, which are critical and frequently cited as a key barrier to realising cloud value.

The extended strategic relationship will assist clients in achieving industry differentiation by leveraging the unrivalled AABG joint portfolio of 175 assets and 20,000 cloud specialists with 24,000 AWS certifications, placing Accenture among the world’s top systems integrators with extensive AWS resources. Accenture and AWS have co-created nearly 40 solutions for 16 industries with proven use-case relevance to date in order to jumpstart client value.

Organizations should implement change under extreme time constraints in today’s hyper-competitive age of compressed transformation. Generali Vitality, a division of one of the world’s largest insurance and asset management companies, needed to scale quickly to reach new clients. Working with Accenture and AWS to leverage cloud-native technology, Generali Vitality is now ready to deploy new features at the touch of a button in order to continuously improve their products and customer engagement level.

Simon Guest, CEO of Generali Vitality said, “We have successfully launched in multiple European markets and our user base is constantly growing. Part of this journey has been enabled by smart use of cloud native technology and Accenture’s outstanding software engineering capabilities.”

“We’ve learned through experience that our customers’ success often hinges on two key factors: speed and the ability to adopt new ways of working. Our investment to create reusable accelerators and mechanisms with Accenture is intended to make cloud transformation and change programs easier and more predictable — so customers can continuously innovate and lead their industries,” said Matt Garman, senior vice president of sales and marketing at AWS.  

“On the Cloud Continuum, breakthrough innovations will continue at a rapid pace. Harnessing those innovations for competitive advantage will require a commitment to permanent reinvention. Together, we’re investing with AWS to help companies prioritize and invest in people transformation as much as tech transformation, which yields an average of 60% higher cloud return on investment,” said Karthik Narain, global lead of Accenture Cloud First.

Snyk Secures $75 Million Funding

Snyk, the global leading developer security firm announced that it has raised $75 million in Series F Funding round from Atlassian Ventures and Salesforce Ventures. Snyk is committed to advancing developer security through equipping millions of development partners to build security early on without sacrificing the speed that their business needs to compete successfully. It pushes the value of the company to $8.6 billion, and the capital total to $850 million, more than 10% of which come directly from Atlassian Ventures and Salesforce Ventures.

In close collaboration with Snyk, Atlassian, and Salesforce are have aim to facilitate the identifying, fixing and monitoring vulnerabilities in their existing workflows for the global developer population – estimated at 26.2 million by 2020 and expected to reach 43.2 million by 2025.

“For Atlassian and Salesforce, this investment in Snyk is more than just capital. Like Snyk, these two industry leaders are fiercely committed to empowering developers to embed security into the entire application. We are humbled by their true, long-term commitment to evolving the legacy security industry through a developer-led approach,” said Peter McKay, CEO, Snyk.

“The desire to do things differently inspires us, and Snyk is reinventing the way organizations think about security. They are a vital part of our ecosystem, tightly integrated into our core products. We’re thrilled to further support their journey and together increase the millions of developers that benefit from their work,” said Chris Hecht, Head of Corporate Development, Atlassian.

“As an early investor since the company’s Series B, we are excited to deepen our partnership and continue to support Snyk as the leader in developer security. Snyk’s vision to empower developers to drive greater agility and digital transformation resonates, and we are excited to support them as both an investor and customer,” said Alex Kayyal, SVP & Managing Partner, Salesforce Ventures.

S2W Inc. raised 10M in Series B funding

The cyber security firm S2W Inc. has announced that it has raised more than $10 million of Series B funding. KDB Development Bank, YG Investment, Magellan Technology Investing, Ltte Ventures and DS Asset Management participated in this round led by LB Investment.

S2W is a cybersecurity data analysis firm and has a competitive global position to detect and react to new cyber threats like Dark Web and Ransomware. S2W has secured clients through its technology and data collaborations in the field of funding, telecoms, manufacturing and electricity trade.

In March 2020, S2W attracted a total of 3.5 million dollars for Series A and was assessed by its successful closing of Series B in just one and a half years for its high growth.

“S2W has the technology to work on the global stage and I expect them to play a huge role in the Metaverse society,” said Deok-soo Jang, chairman of DS Asset Management.

Ki-ho Park, CEO of LB Investment said, “S2W is now showing the compressed growth process of Palantir’s in the U.S. and is expected to expand into various fields such as blockchain, e-commerce, games, and entertainment in the future. And we will continue to support S2W to be the global leader in the industry.”

“We will focus on rapid growth, and we will prove to the world that companies pursuing the value of justice are superior in competitiveness and sustainability,” said Sangduk Suh, CEO of S2W.

Corelight Secures $75 Million in Series D Funding Led by Energy Impact Partners

Corelight, a provider of an open network detection and response (NDR) platform, has secured $75 million in a Series D funding round led by Energy Impact Partners (EIP).

In addition to new investor H.I.G. Growth Partners and strategic investment from Capital One Ventures, CrowdStrike Falcon Fund, and Gaingels, previous investors Accel, General Catalyst, Insight Partners, and Osage University Partners joined the round. Corelight has received a total of $160 million to date, with this newest round allowing the company to expand its global market presence as well as develop additional data and cloud services.

“This latest investment is a powerful affirmation not only of the network detection and response category, but also of our open source heritage, data-centric approach, and commitment to customer success. I am grateful for our investors’ partnership as we help organizations around the world move to a data-driven security strategy,” said Brian Dye, CEO of Corelight.

Investor in charge EIP is an international investment platform supported by a strong coalition of forward-thinking utilities and partner organisations, with a concentration on cybersecurity, digital transformation, utility infrastructure, and the broader energy transition.

“EIP’s focus on critical infrastructure providers is highly aligned with both our mission and market traction. Helping these institutions defend against increasingly sophisticated attackers is essential given their role in society and the economy,” said Dye.

“Corelight’s strong NDR technology, rooted in open source, has had a significant impact across industries and is rapidly becoming the de-facto standard for sophisticated defenders. We look forward to supporting them as they expand their existing footprint within the sustainable energy, manufacturing and other critical infrastructure sectors,” said Shawn Cherian, partner at EIP.

“Corelight helps some of the world’s most advanced companies protect and secure their networks from cyber threats. By leveraging Zeek, the industry’s leading open-source data platform, Corelight is uniquely positioned to help security operations teams become more efficient in threat inspection, response, and remediation. We have been incredibly impressed by the company’s exceptional growth and are excited to partner with a world-class organization,” said Scott Hilleboe, managing director at H.I.G. Growth Partners.

“These strategic investors mirror our strategy, market focus and values as an organization. Each brings a unique perspective that will improve our ability to deliver data-centric security,” said Dye.

“Corelight and CrowdStrike’s strong shared commitment to data-centric security makes this a strong fit within the Falcon Fund portfolio. We are excited to support Corelight’s continued innovation in the NDR category and the growth of their new data and cloud offerings. As cyber threats increase in number and complexity, the importance of solutions like Corelight have never been greater, providing increased visibility and comprehensive data that allows organizations to identify vulnerabilities and resolve security issues faster,” said Michael Sentonas, CTO at CrowdStrike.

“We root our decisions on which companies we invest in based on the impact we believe those companies will have on their customers. Partnering with Corelight in this round is a natural extension of the work we have been doing with open source NDR tools and the investments we have been making in strong cyber security solutions. We are thrilled to work with Corelight on new opportunities,” said Jay Emmanuel, partner at Capital One Ventures.

“As the largest investor network focused on supporting and investing in the best venture-backed companies that embrace and value diverse leadership, including LGBTQ+, Gaingels is proud to be participating in this financing round with Corelight. Our team is resolved on helping the company grow and scale while strengthening its prospects of success by building a culture that reflects the diversity of its executive teams, staff and customers,”said Lorenzo Thione, managing director of Gaingels.

SGT Capital acquired Utimaco, the global leader in cybersecurity solutions

SGT Capital, a worldwide alternative asset manager with offices in Germany and Singapore, announced that the EQT Mid Market Europe fund has come to an agreement to sell Utimaco Verwaltungs GmbH to SGT Capital.

Utimaco is a trusted company for cybersecurity and compliance solutions and services. For governed critical systems, the firm offers on-premises and cloud-based hardware security modules, as well as key management and data intelligence solutions. Utimaco employs over 470 people across the world. The firm’s emphasis on protecting data, identities, and essential infrastructures from cyber-crime makes it a vital force in trying to make the world a safer place.

“Utimaco is the clear market leader in global cybersecurity as well as data intelligence solutions and has executed an impressive innovation, growth and M&A strategy. We look forward to working with Stefan Auerbach and the entire Utimaco team as well as EQT Private Equity and Bain Capital Credit going forwards,” said Joseph Pacini, Co-Managing Partner of SGT Capital, said.

“Utimaco plays a crucial role in fighting cyber-crime making the world a safer place. We would like to thank all employees for this exciting journey – we are convinced that Utimaco will continue its successful path with its new majority owner and are happy to stay invested as a minority owner,” said Florian Funk, Partner within EQT Private Equity’s Advisory Team.

“We have been very impressed with the performance of Utimaco over the last few years. Bain Capital is delighted to support SGT Capital in their investment and to continue to work alongside this talented management team led by Stefan Auerbach,” said Tom Maughan, Head of Private Credit in Europe for Bain Capital Credit.

“In the last years, we have built a global platform leader for trusted cybersecurity solutions, providing the highest level of security and compliance to the world’s largest corporates and governments. We look forward to the next phase of growth together with SGT Capital,” said Stefan Auerbach, CEO of Utimaco.

“Utimaco clearly fits within the SGT Capital business model of investing in market leading business with excellent executives and significant future global growth potential – particularly into high growth regions such as Asia. We look forward to opening up doors of success together with the Utimaco team, EQT Private Equity and Bain Capital Credit,” said Carsten Geyer, Co-Managing Partner of SGT Capital.

Clearlake Capital invests in RSA

The Clearlake Capital Group made strategic equity investment in RSA Security LLC. RSA is a worldwide provider of mission critical cyber security solutions, governance risk and compliance management tools to businesses. Clearlake joins Symphony Technology Group as an equal partner, having acquired the company from Dell Technologies in 2020 alongside Ontario Teachers’ Pension Plan Board. The Ontario Teachers’ Pension Plan continues to be a large minority shareholder. The transaction’s terms were not released.

The strategic equity investment in RSA Security LLC by Clearlake Capital Group, L. P. has been completed. RSA is a worldwide provider of mission critical cyber security solutions, governance risk

RSA offers enterprise risk, security and fraud teams to manage digital risk in a comprehensive manner, including threat detection and response, integrated risk management, identity and access management and omnichannel fraud prevention.

“Clearlake’s investment in RSA comes at an opportune time and will support the Company as it looks to accelerate innovation in the key cybersecurity and risk management markets in which we operate. We are thrilled to partner with Clearlake and look forward to leveraging their proprietary O.P.S.® framework to continue to deliver best-in-class software to a large and growing global customer base,” said Rohit Ghai, Chief Executive Officer of RSA.

“RSA is a pioneer in the cybersecurity and risk management markets and its mission critical software solutions are more relevant than ever in today’s marketplace. We believe the robust market growth and strong secular tailwinds underpinning RSA’s leadership position as well as STG’s successful efforts to establish RSA as a standalone company have positioned the Company well for continuing to serve its blue-chip customer base. We look forward to partnering with STG in transforming the business and investing to accelerate both organic and inorganic growth,” said Behdad Eghbali, Co-Founder and Managing Partner, and Prashant Mehrotra, Partner, of Clearlake.

William Chisholm, Managing Partner of STG said, “Clearlake’s distinguished track record of investing in leading software companies, as well as their deep understanding of the growing importance of RSA’s risk and cybersecurity solutions in the digital age, made them a perfect partner for us in helping RSA during its next phase of growth.”

Crosspoint Capital Partners Invests in Software Security ReversingLabs

Crosspoint Capital Partners, a private equity firm specializing in cybersecurity, privacy, and infrastructure software, announced that it led a Series B funding in ReversingLabs, the global company of technology to secure software producers and business software buyers from the risk of software supply chain cyberattacks. ForgePoint Capital, an existing investor, has joined Crosspoint, as has Prelude, a Mercato Partners vehicle. The terms of the deal were not disclosed.

With the emergence of advanced supply chain hacks like implants, ReversingLabs provides the capability to analyze the integrity of binaries, their constituent elements, and software build processes with the speed, accuracy, and scale that today’s digital organizations demand. In the software, defense, retail, financial services and insurance industries, ReversingLabs has become an important security solution for some of the world’s largest companies.

“The level of sophistication and complexity in today’s cybersecurity attacks means that enterprises can no longer assume that software products from their providers are safe. ReversingLabs provides a proactive and transparent approach to understanding the threats that exist within software even in cases where you don’t have access to source code. We believe scalable software inspection and validation processes are essential to software integrity, and we are excited to partner with ReversingLabs as they help enterprises defend against advanced software supply chain attacks,” said Dr. Hugh Thompson, Managing Partner at Crosspoint.

“We are thrilled to partner with Crosspoint, a firm that brings deep sector knowledge and expertise in cybersecurity. Business leaders have become increasingly aware of the cyber risks associated with software vulnerabilities in their organizations. With Crosspoint’s support, I believe we can accelerate our work helping firms detect and prevent software threats that can materially impact them,” said Mario Vuksan, CEO and Co-Founder of ReversingLabs.

“As an element of our Secure By Design initiatives, we’ve applied maximum attention to protecting the integrity of our software development and deployment pipeline from even the most determined and sophisticated attackers. We are working to help establish new standards for secure software development in the industry and ReversingLabs has since become an important part of our overall efforts,” said Sudhakar Ramakrishna, President and CEO of SolarWinds.

“Every organization, whether an ISV developing software or an enterprise procuring or using software, needs controls to manage the software supply chain attack surface and thwart the very real risk of tampering. This attack surface is nuanced, and traditional approaches like source code scanning are insufficient. Every part of the code, compile, build and deploy cycle needs to be checked. ReversingLabs is a great ally in the fight against these threats. Their solution is unique, very hard to replicate and immensely valuable,” said Greg Clark, Managing Partner at Crosspoint.

Crosspoint’s funding will primarily be utilized to boost ReversingLabs sales and marketing operations.

Macnica Networks and NightDragon Networks formed an Innovative Partnership to Expand Portfolio Company Go-to-Market Reach

NightDragon, a dedicated cybersecurity, safety, security, and privacy investment company, announced that it has entered into a partnership agreement with Macnica Networks, Japan’s largest distribution firm and a global technology solutions distribution company, to expand the reach of its portfolio companies in Japan.

Macnica Networks, a subsidiary of the Macnica Group, is a value-added distributor specializing in getting new latest technology to the Japanese market. Macnica Networks has a track record of accelerating net new growth for well-known technology startups in Japan and the Asia-Pacific area. It has seen great success in the cybersecurity sector, notably assisting market leaders such as FireEye, CrowdStrike, and Exabeam in launching their Japanese operations.

Macnica Networks will distribute the products of NightDragon’s portfolio firms in Japan as part of this cooperation, giving its clients access to cutting-edge cybersecurity technologies.

“The demand for cybersecurity, safety, security and privacy technologies is greater than ever before against a rapidly evolving threat landscape,” said Jun Ikeda, President, Macnica Networks. “NightDragon is unparalleled in its ability to recognize today’s market-leading and innovative products and we are proud to partner to make these technologies available to our customers and serve as a foundation for future go-to-market growth in the region,”

“NightDragon is committed to being a true venture partner to our portfolio companies, not only providing capital but also supporting their go-to-market growth needs to help them reach their maximum potential,” said Dave DeWalt, Founder and Managing Director, NightDragon. “By aligning ourselves with a global distribution leader like Macnica Networks, we are making it easier than ever for our portfolio companies to grow into new markets and achieve new levels of success.”

NightDragon plans to structure more partnerships as part of its newly formalised NightDragon Network, an exclusive community with partnerships and networking opportunities for its portfolio firms and executive leadership, to accelerate go-to-market and facilitate business operations for its companies around the world.

Cybereason Raises $275 Million in Crossover Financing to Expand Its XDR Leadership Globally

Cybereason, the specialist in operation-centric cyber attack protection, declared that it has raised $275 million in financing led by Liberty Strategic Capital, with contributions from Irving Investors, certain Neuberger Berman Investment Advisers LLC funds, and Softbank Vision Fund 2. The company’s success as the foremost inventor in offering XDR, EDR, EPP, and anti-ransomware solutions is validated by this latest round of funding. The funds will be used to support Cybereason’s hypergrowth, which has been driven by strong market demand for its AI-powered Cybereason Defense Platform. Softbank Group, CRV, Spark Capital, and Lockheed Martin previously invested $389 million in the company.

The Cybereason Defense Platform, unlike typical alert-centric models, is operation-centric, exposing and terminating complete “malicious actions” (MalOps). A MalOp discovered by Cybereason isn’t just another warning; it’s a fully contextualized view of all components of a cyberattack as it progresses across an organization. Because today’s experienced cybercriminals construct cyberattack operations rather than single-target attacks, the ability to detect MalOps is critical to successfully combating current cyber threats, particularly advanced ransomware. The attacker’s goal is to spread malware across the entire organization, and they’re well-organized and funded.

“Cybereason is fast becoming the global leader in cyber defense technology, and we could not be more pleased to make this extraordinary innovator the first addition to Liberty Strategic Capital’s portfolio. Cybereason has established itself as a visionary in prevention, detection and response, and Liberty Strategic Capital is excited to partner with the Cybereason team in their cutting-edge work to defend critical information networks, businesses, and governments around the world against the growing danger of cyber attacks. We are confident in Cybereason’s ability to deliver a superior product to customers and provide best-in-class critical infrastructure defense.” said Secretary Mnuchin, Founder and Managing Partner of Liberty Strategic Capital.

“Over the past year, we’ve experienced hypergrowth across the globe as defenders recognize that ending advanced attacks isn’t possible using solutions that rely on meaningless alerts and human intervention. Existing – even ‘next-gen’ – solutions are fundamentally flawed, creating the dynamic we have today where the defender is constantly struggling to keep pace with attackers. Unlike our prolific alert-generating competitors, Cybereason takes an approach that enables defenders to end malicious operations instantly, resulting in the most comprehensive prevention, detection and response solution on the market. This is how we are returning the high ground to the defenders – and we are just getting started,” said Lior Div, CEO and co-founder of Cybereason.

RSE Ventures sells SKOUT Cybersecurity to Barracuda Networks

SKOUT Cybersecurity (“SKOUT”), a leader in cyber-as-a-service software for Managed Service Providers (MSPs) and provider of an extended detection and response (XDR) platform and service, has been sold to Barracuda Networks, by RSE Ventures, a New York-based private investment firm founded by Stephen M. Ross and Matt Higgins.

SKOUT provides security products to its channel partners through the XDR platform, which provides MSPs with capabilities to provide 24/7/365 protection and simply monitor clients in a single multi-tenancy dashboard. The Company’s cyber-as-a-service products are meant to minimise the hidden cost of inefficiencies, enabling MSPs to target major incidents that require remediation rather than setting and managing many solutions.  

Since acquiring SKOUT in 2017, RSE has worked closely with the company’s management to enhance the company’s technology platform and create an environment that offers cybersecurity for small and midsize enterprises both accessible and simple to use. Under RSE’s ownership, SKOUT has had significant success, with a year of record growth in 2020, including a 700% increase in the number of MSPs using its software platform.

“SKOUT is an outstanding business with solutions that address the critical need for cybersecurity protection, and we’re proud to have supported the Company’s growth over the past four years. We acquired SKOUT with the belief that ongoing digital transformations would increase the risk of cyberattacks, leaving midmarket companies vulnerable due to the cost and complexity of traditional security solutions, and we were pleased to collaborate with Alex Weiss of ClearSky who shared these viewpoints as well. Today, SKOUT is well-positioned to continue disrupting the cybersecurity space while bringing peace of mind to SMBs through its customer-centric approach and user-friendly resources. Under Aidan Kehoe and the management team’s leadership, SKOUT has established a strong foundation and clear trajectory for continued success, and we wish the Company well in this next chapter,” said Matt Higgins, Co-founder and CEO of RSE Ventures.

“RSE has been an incredible partner over the last four years, and I would like to thank Steve and Matt for bringing deep expertise and resources to help accelerate our growth and bolster SKOUT’s leading position within the space. It has been a pleasure working closely with Matt and his team throughout this journey, and with their support, we made great strides in furthering our vision of making cybersecurity accessible to all businesses.  I’m proud of all we were able to accomplish together during our partnership and look forward to SKOUT’s next phase of growth,” said Kehoe, Founder and CEO of SKOUT Cybersecurity.

The transaction is expected to conclude in July.