TechOperators

So excited for John Nellen and team to have hit this milestone. When I first met John in 2019, it was such an "aha moment" for me. When I was the CISO at Zscaler I always pushed back on selling an enterprise grade solution into the SMB space as I recognized that doing so would require a different technical solution and sales motion - security is not "one size fits all". Upon seeing Todyl, I was convinced that John had figured out the right SMB security stack (scalable and feature rich, but not overkill) and had also figured out the right GTM motion (partnering with MSPs). I had strong conviction but it was still challenging to convince fellow investors of the potential. Fortunately John didn't give up and ultimately found leads (TechOperators LLC and Anthos Capital) who also believed in his vision. Fast forward five years and we're all happily clinging to this rocket ship. Welcome aboard Base10 Partners - hold on tight!

🚀 LATEST FUNDING/M&A IN CYBERSECURITY 🚀 Reach Security, a company using advanced AI to reinvent security operations, has announced $20 million in funding. The Series A is led by Ballistic Ventures, with participation from Artisanal Ventures and industry luminaries, including Mark McLaughlin, former CEO and President of Palo Alto Networks, and Denise Persson, CMO of Snowflake.   Todyl, an industry-leading security and networking company, announced today it closed a $50 Million Series B investment round led by Base10 Partners with participation from Anthos Capital, TechOperators LLC, and StoneMill Ventures.   Claroty, the cyber-physical systems protection company, announced it has secured $100m in strategic growth financing. This round was led by Delta-v Capital, AllianceBernstein, Standard Investments, Toshiba Digital Solutions, SE Ventures, Rockwell Automation and Silicon Valley Bank- a division of Citizens Bank. Claroty has already closed $635m of funding to date, this additional round further establishes Claroty's leading position in the critical infrastructure cybersecurity market.   Sweet Security, a security start up that leverages deep runtime analysis to better identify and address cloud risks announced that it has raised a $33 million Series A funding round.  The round was led by Evolution Equity Partners, joined by Munich Re Ventures and Glilot Capital Partners. The Israeli startup took its total funding to date to $45 million after raising a $12 million Seed round last August.   Axonius, major enterprise cyber asset management firm, has pulled in $200 million from an extension of a Series E funding round, bringing total investment to nearly $600 million since its emergence in the cybersecurity scene in 2017. The company has reached a valuation of $2.6 billion and the newly raised funds will be allocated toward bolstering global innovation and scale.   Flow Security, the industry's first and only cloud data runtime security solution has announced it will be acquired by CrowdStrike. This will be Crowdstrike's 6th acquisition since 2020 when they purchased, SecureCircle, Preempt, Humio, Bionic and Reposify.   Vade , a French email cybersecurity entity known for analyzing over 2.5 billion messages daily has announced it will be acquired by Hornetsecurity Group. This union aims to fortify Hornetsecurity’s position as a leading cybersecurity service provider across Europe. Vade raised a total of $42M in funding over 2 rounds prior to the acquisition from investors such as ISAI and Tikehau Capital.   Cycode | Complete ASPM, which develops Application Security Posture Management (ASPM) solutions, announced the acquisition of U.S. company Bearer. Bearer helps security and engineering teams proactively find and fix data security risks and vulnerabilities across their application environment so they can prevent data breaches before they happen. Congrats to all involved! 👨🎤 👩🎤 #venturecapital #cybersecurityfunding #startups

Reach Security is announcing their recent fund raise today. Reach completed its Series A financing round from Ballistic Ventures with further participation from TechOperators LLC. Reach was also an early stage Seed investment for TechOperators, first completed in early 2021. We met Garrett Hamilton and Colt Blackmore and were immediately interested. The company at this stage had a plan to address another facet of the “platformization” challenge felt both by security product vendors and their customers. What if instead of buying into a full security platform that had obvious strengths and weaknesses, the platform itself could be abstracted in a novel way? Most enterprises use at least a dozen security products from Microsoft, Splunk, Palo Alto, Crowdstrike, Cisco, Fortinet, Okta, SentinelOne, Proofpoint. Palo Alto and Crowdstrike and constantly try to consolidate, but here we are. What Reach built is an AI layer that sits on top of all these products that interrogates each, processes all their policies and events and makes adjustments to each so instead of each product playing a different song, they are all tuned to play from the same sheet of music. Reach has made great process since 2021 and has added a great investor to back the next leg of their growth. Barmak Meftah Ted Schlein Tom Noonan Said Mohammadioun Press release: https://lnkd.in/eg3YfPt9 TechCrunch exclusive: https://lnkd.in/ezTj36j7