Which cybersecurity start-ups have raised the most money in 2017?
CRN profiles the cybersecurity vendors with the largest funding rounds in 2017 so far
Cybersecurity start-ups have raised $2.14bn (£1.64bn) in venture capital funding this year, according to research from boutique cybersecurity investment bank Momentum Partners.
Q2 alone saw $1.51bn poured into cybersecurity newcomers, representing the largest quarterly amount since Q1 2016 and the second largest since Q1 2010 (as far back as the data goes), where the total raised was just $197m.
Momentum Partners published a list of the top beneficiaries in the first two quarters of this year, from which CRN has researched and profiled the top 10 cybersecurity firms based on their funding rounds this year.
10. Signifyd - $56m, May
E-commerce fraud prevention vendor Signifyd raised $56m in May, adding to the $31m it had raised previously.
The Signifyd solution integrates into the existing platforms of e-commerce firms and protects them from fraudulent payment transactions.
Signifyd customers receive a 100 per cent guarantee on the transaction, with Signifyd charging a percentage of it as a fee.
9. SentinelOne - $70m, January
End-point security vendor SentinelOne added $70m to its investment pot in January, taking its total to around $110m.
Recently appointed sales vice president Gareth Green told CRN earlier in the year that the funding will be used to boost SentinelOne's presence in EMEA.
SentinelOne had eight UK partners in February and is distributed by Exclusive Networks.
The vendor claims its platform brings together end-point protection, detection, response and remediation - and boasts that its solution can completely replace traditional anti-virus software.
8. Darktrace - $75m, July
The only UK firm on this list, Darktrace secured $75m in funding earlier this month, taking its total raised to $180m and its valuation to a reported $825m.
Darktrace's offering centres around its Enterprise Immune System - a platform which uses machine learning and artificial intelligence to spot cyber-threats.
The vendor claims to now have contracts totalling $200m, more than double what it had a year ago.
Darktrace has over 270 partners globally and claims its partner base comprises small consultancies through to VARs, managed security service providers and larger technology partners. Darktrace features partners including BT, Samsung SDS and Telstra on its website.
Click through to the second page to see the vendors placed seventh to fourth
Which cybersecurity start-ups have raised the most money in 2017?
CRN profiles the cybersecurity vendors with the largest funding rounds in 2017 so far
7. Sumo Logic - $75m, June
Cloud-based log management and analytics vendor Sumo Logic raised $75m in June, taking its total to $230m.
Founded in 2010 in California, Sumo Logic claims to uses machine data to deliver real-time IT insights. The product collects data from any application, cloud, server, network or device from which searches and analytics can be run.
Sumo Logic has strategic partnerships with AWS, Microsoft, Google and Crowdstrike and claims that since its last funding round in June 2015 both its annual recurring revenue and customer base have tripled.
6. Armor - $89m, April
Armor boasts of being "the first totally secure cloud company" on its homepage and in April raked in $89m of funding, taking its total to just under $150m.
Founded in Texas in 2009, Armor provides a managed security solution that protects virtual machines in public, private and hybrid environments.
Armor launched its first UK partner programme in March, which it claims is tailored to help organisations prepare for General Data Protection Regulation.
5. Netskope - $100m, June
Cloud access security broker (CASB) Netskope secured $100m funding in a round led by Lightspeed Venture Partners and Accel, taking its total funding to $231.4m and making it the best-funded CASB vendor in the market.
Netskope saw its revenue triple in 2016 compared with 2015. The Netskope security platform gives organisations visibility over all the cloud usage in its infrastructure, so the IT team can see potentially dangerous activity, protect sensitive data and respond to threats.
The CASB market went through a period of consolidation starting in 2014 with the likes of Microsoft, Blue Coat, Imperva and Oracle all making acquisitions in the space. A number of CASB start-ups have since come into the market.
According to investment platform Funderbeam, Netskope has a valuation of over $1.25bn.
4. Crowdstrike - $100m, May
Often grouped with end-point security newcomers Cylance and SentinelOne, Crowdstrike raised $100m in May, taking its total investment to $256m and its valuation to $1bn.
Founded in 2011, Crowdstrike bills its platform as a replacement for traditional anti-virus (AV) solutions, claiming it is the only solution on the market that combines next-generation AV protection with end-point detection and response, and a "24/7 managed hunting service" which seeks out perpetrators of attacks.
The vendor found itself in a public spat with cybersecurity testing house NSS Labs earlier this year when it scored less than a number of start-up and legacy competitors in an end-point security test.
A partnership with Cloud Distribution was announced in March, at which point Crowdstrike had 20 UK partners.
C lick through to the final page to see the vendors in the top three
Which cybersecurity start-ups have raised the most money in 2017?
CRN profiles the cybersecurity vendors with the largest funding rounds in 2017 so far
3. Cybereason - $100m, June
End-point detection and response vendor Cybereason was founded in Israel by ex-Israeli military intelligence and raised $100m in June.
The round, led by Softbank, takes Cybereason's total raised to $189m. The vendor claimed to have seen 500 per cent revenue growth last year and 200 per cent growth in employee numbers.
Cybereason already has a channel presence in the UK and is distributed by specialist security VAD Progress Distribution. In 2014 it switched its global headquarters from Israel to Boston, with further offices located in London, Tel Aviv and Tokyo.
At the time of the most recent funding round, CEO Lior Div highlighted channel development as key area of investment. The vendor is now reportedly valued at $850m, according to Bloomberg.
2. Tanium - $100m, May
Tanium put a period of negative publicity behind it in May by securing $100m in funding, taking its total raised to $402m. According to Momentum, Tanium is the most well-funded cybersecurity start up in the market, over $100m ahead of second-placed Tenable.
The Tanium platform connects all end-point devices on an enterprise network and provides a range of detection and incident response functions.
EMEA vice president Matt Ellard recently told CRN that Tanium is looking to build out its channel in the UK, having typically partnered with systems integrators such as Verizon and PwC, with the ultimate aim of taking Tanium's revenue to 70 per cent channel. It currently sees a 50/50 split between direct and indirect sales.
Tanium is distributed by Exclusive Networks in the UK and counts World Wide Technology and Herjavec Group among its global partners.
The vendor has long been rumoured to be considering an IPO, but CEO David Hindawi poured cold water on the notion in May, when he told Reuters that he didn't "want to feel compelled" to go public. Following the most recent round Tanium has a valuation of $3.75bn.
1. Illumio - $125m, June
Founded in 2013, Illumio raised $125m in June to take its total funding to $267m.
Illumio specialises in segmentation security across the datacentre and public cloud, by adapting to changes in the application environment and keeping high-value assets away from threats.
The vendor has already made an impact in the US financial sector. Its last funding round was led by JP Morgan and it counts nine of the largest 15 financial companies in the US among its customers. Illumio claims to have seen 400 per cent growth in bookings in its second year on the market and is reportedly valued at $1.118bn.
Technology partners include Amazon Web Services, Cisco, Nutanix, Microsoft and Hewlett Packard Enterprise. In 2015, Illumio laid out plans to open its first UK office in London.