<div>
  <ul>
    <li>
      <p>
        Traceable AI, an API security startup, has raised USD 60 million in a Series B funding round, led by Institutional Venture Partners (IVP), with participation from Tiger Global Management, Unusual Ventures, BIG Labs, and several angel investors. The round values the company at more than USD 450 million and brings its total funding to USD 80 million.
      </p>
    </li>
    <li>
      <p>
        The funds will be utilized to accelerate its growth by further investing in R&amp;D, expanding sales and marketing headcount, and increasing global sales.
      </p>
    </li>
    <li>
      <p>
        Traceable AI has an employee headcount of 85, and it plans to expand this to 400 to 500 within the next three years. The company has a number of paying customers, including Informatica, Bullish, Digital Ocean, Zolve, and Houwzer.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://www.prnewswire.com/news-releases/api-security-innovator-traceable-ai-lands-60-million-series-b-301537705.html">
      Company press release
    </a>
  </p>
  <p>
    <a href="https://techcrunch.com/2022/05/02/2307940/">
      TechCrunch
    </a>
  </p>
  <p>
    <a href="https://www.crn.com/news/security/traceable-ai-raises-an-additional-60m-for-deployment-of-api-security-product?itc=refresh">
      CRN
    </a>
  </p>
</div>


Next-gen Cybersecurity

Traceable AI raises USD 60 million in Series B funding

INCUMBENTS_PRESENT

<div>
 <p>Boston-based MSP platform provider, N-able, has procured Adlumin, a security operations business based in Washington D.C., in a deal worth up to $266 million. This includes $100 million in cash upon closing, 1.57 million shares of N-able stock, $120 million in payments spread over two years, and up to $30 million depending on performance metrics.</p>
 <p>N-able plans to unify IT management, data protection, and security following the acquisition. This move is predicted to immediately boost annual recurring revenue growth, with significant cash flow contributions by late 2025. Additionally, the deal enables N-able to penetrate the $163 million cybersecurity services sector.</p>
 <p>Established in 2016, Adlumin, with its annual recurring revenue of $22 million and a 60% yearly growth rate, offers cloud-native XDR and MDR solutions. The company's services include threat detection, threat intelligence, ransomware prevention, and compliance automation across endpoints, SaaS applications, and networks.</p>
 
</div>

N-able acquires Adlumin for USD 266 million to strengthen cybersecurity offerings

PROMINENT_CATEGORY

<div>

 <p>Cybersecurity firm Rapid7 has broadened its Managed Extended Detection and Response (MXDR) service to include support for Microsoft's security tools. The enhanced service merges with Microsoft's existing telemetry via Rapid7's Command Platform.</p>
 <p>The augmented MXDR service collaborates with Microsoft 365, Defender for Cloud, Defender for Endpoint, and Entra Identity Protection. It provides a broad view of potential threats across an organization's digital assets, quick threat response courtesy of Rapid7's security operations center (SOC), and personalized protection offerings.</p>
 <p>Rapid7 claims that this collaboration can eliminate security blind spots and decrease the time it takes to detect and resolve issues.</p>

</div>

Rapid7 adds Microsoft security coverage to MXDR service

<div>
 <p>Snyk, a security firm for applications and developers, has acquired Probely, a dynamic application security testing (DAST) provider based in Porto, Portugal. Probely specializes in API security testing and web applications. The financial details of the transaction were not disclosed.</p>
 <p>Probely offers discovery and scanning capabilities to identify applications or APIs and possible vulnerabilities. Additionally, the company operates Security Headers, a free tool that aids users in benchmarking the security of their web properties.</p>
 <p>The acquisition aims to solidify Snyk's defense-in-depth approach to applicaton security. This will be achieved by integrating Probely's capabilities into Snyk's developer security platform, enabling automatic detection of vulnerabilities throughout the software development lifecycle. The integration will particularly enhance API security testing, which is critical for AI-powered applications.</p>
 
</div>

Snyk acquires Probely for undisclosed sum to enhance API security testing

ANALYST_QUICK_TAKE

<div>
 <p>Cybersecurity firm Trustwave and endpoint detection and response company Cybereason have announced plans to merge, with SoftBank as the majority investor. The two companies will operate separately, but collaboratively offer their expertise in managed security services, offensive security, EDR, and XDR solutions.</p>
 <p>The merger's aim is to enhance capabilities in managed detection and response, offensive security, digital forensics, threat intelligence services, and incident response. The combined entity will have extensive presence across the Americas, UK, Australia, Middle East, Japan, and Continental Europe.</p>
 <p>The transaction is anticipated to be finalized by early 2025, pending the receipt of regulatory approvals.</p> 
</div> <p><b>Analyst QuickTake:<br>
</b> This merger between Trustwave and Cybereason comes a year after <a href="https:<br>
//sp-edge.com/updates/22396"> Trustwave's ownership transition </a> from SingTel to Chertoff Group in October 2023 for USD 205 million. The new merger agreement, with SoftBank as the majority investor, represents another significant ownership change for Trustwave within a year.</p>

Trustwave and Cybereason merge to create global cybersecurity platform

<div>

<p>Upwind, a cloud-native application protection platform, has successfully garnered USD 100 million from a Series B funding round, which places the company's worth between USD 850 to 900 million post-investment. Investors that contributed to this round included Craft Ventures, Greylock, CyberStarts, Leaders Fund, Omri Casspi's Sheva Fund, and Steph Curry's Penny Jar.</p>

<p>The received funds will be channeled towards the expansion of the research and development efforts, along with staffing plans. The company estimates the addition of about 100 professionals across its existing locations in Israel, San Francisco, and Iceland.</p>

<p>Upwind has a significant presence in the global cybersecurity space, with several major Fortune 500 clients such as Booking.com and Yotpo enlisted to its platform. The platform has demonstrated significant effectiveness, reducing security alerts by 90%. Upwind's operations currently maintain a staff strength of 160, spread across locations in Tel Aviv, San Francisco, UK, and Iceland. </p>

<p>Founded in 2023, Upwind offers a robust platform of cybersecurity solutions that protect cloud-native applications. These solutions encompass runtime protection, API security, and cloud infrastructure security. A key differentiator for Upwind's platform is its innovative combination of runtime data and build-time insights, leveraging technologies like eBPF DaemonSets and Kubernetes audit logs to facilitate real-time threat detection.</p>

</div>

Upwind raises USD 100 million in Series B funding for global expansion and R&D

<div>
 
 <p>Permiso Security, a startup focused on identity threat detection and response, has announced the launch of three new open-source security tools. Named DetentionDodger, BucketShield, and CAPICHE Detection Framework, these tools are created to enhance the detection abilities for cloud-based security.</p>
 <p>DetentionDodger can assist in identifying risks tied to leaked credentials and also has the ability to scan CloudTrail logs. BucketShield can monitor AWS S3 buckets and corresponding CloudTrail log activities, providing the user with real-time tracking features. Lastly, CAPICHE Detection Framework enables the creation of cloud API detection rules.</p>
 <p>Permiso was established in 2022 and has since been specializing in identity threat detection and response applicable to various cloud environments. They offer a unified platform that merges Identity Security Posture Management (ISPM) with Identity Threat Detection and Response (ITDR). The platform has the capability to monitor and correlate user activities across several environments including AWS, Azure, Okta, and M365. The key goal of Permiso's platform is to assist organizations in spotting threats such as account takeover, credential compromise, and internal threats.</p>
 
</div>

Permiso Security releases three open-source cloud security tools

<div>
 
 <p>AI-native endpoint security provider, CrowdStrike, has announced its plans to acquire Adaptive Shield, a platform specializing in cloud network security. Although the exact value of the transaction has not been disclosed, it's known that the majority of the payment will be made in cash with a portion being covered in stock.</p>
 <p>The primary services offered by Adaptive Shield include security posture management and threat protection for over 150 SaaS applications. Not only does the company focus on averting SaaS breaches, but it also delivers monitoring services of GenAI applications to prevent data leakage issues. </p>
 <p>With this acquisition, CrowdStrike is set to become the only cybersecurity vendor offering unified protection against hybrid cloud environments. This will cover everything from on-premises Active Directory to cloud-based identity providers including SaaS applications, all accessible through a singular platform. </p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> CrowdStrike's acquisition of Adaptive Shield follows a series of strategic moves to enhance its Falcon platform's capabilities. In recent months, the company has pursued similar objectives through partnerships:<br>
 Collaborating with <a href="https:<br>
//sp-edge.com/updates/35273"> Omnissa </a> to strengthen desktop environment security, <a href="https:<br>
//sp-edge.com/updates/35158"> Fortinet </a> to integrate network firewall protection, and <a href="https:<br>
//sp-edge.com/updates/33764"> Dazz </a> to incorporate cloud remediation insights.</p>

CrowdStrike to acquire Adaptive Shield to unify cloud and identity security protection

<div>

<p>NTT Data, an international IT services firm, has collaborated with cybersecurity organization Palo Alto Networks to introduce an AI-enhanced Managed Extended Detection Response (MXDR) Service.</p>
<p>This service merges the AI and automation functions of Palo Alto Networks' Cortex XSIAM platform with NTT Data's round-the-clock threat monitoring and incident response squad consisting of 7,500 cybersecurity experts. The goal of this comprehensive solution is to boost threat identification and response in sectors such as manufacturing and pharmaceuticals.</p>

</div> <p><b>Analyst QuickTake:<br>
 </b> This strategic partnership between NTT Data and Palo Alto Networks to deliver AI-powered MXDR services comes shortly after a similar <a href="https:<br>
//sp-edge.com/updates/35669"> alliance between Nedscaper and Responders </a> in Europe. Both partnerships share a common approach of combining managed security platforms with specialized response capabilities, demonstrating a growing trend in the cybersecurity industry where providers partner to offer 24/7 security monitoring and enhanced incident response capabilities through unified platforms.</p>

NTT Data partners with Palo Alto Networks to deliver AI-powered managed security service

<div>

 <p>Amsterdam-based managed cybersecurity service provider, Nedscaper, has teamed up with incident response firm, Responders. This partnership combines Nedscaper's Managed XDR platform capabilities with Responders' incident response expertise, offering enhanced cybersecurity services.</p> 
 <p>Responders can effectively use Nedscaper's platform during emergencies for improved system visibility. Meanwhile, Nedscaper's clients gain from Responders' proficiency in incident response. The collaboration additionally presents a novel solution for insurance and claims-handling firms that require reliable incident response providers.</p> 
 <p>The collaboration aims to offer services across Europe and Africa, integrating Nedscaper's 24/7 protection services and Responders' specific incident response abilities. The partnership promises more comprehensive cybersecurity solutions and swift emergency responses during crises.</p>

</div>

Nedscaper partners with Responders to combine managed security and incident response services

<div>

 <p>Fortinet, a next-generation firewall company, has released FortiDLP, a solution for data loss prevention and managing insider risk. This solution, which is enhanced by AI, protects endpoint data and integrates with Fortinet Security Fabric. It can also be purchased as an independent product.</p>
 <p>FortiDLP boasts a variety of key features. These include AI shadow data protection, day-one data visibility with automated protection, user activity monitoring for insider risk protection, data protection for SaaS applications, and origin-based data protection for monitoring data movements. Additionally, it provides risk-informed user education and AI-driven guidance for analysing incidents.</p>
 <p>Fortinet asserts that FortiDLP gives organizations the ability to prevent data leaks, detect threats related to behaviour, educate employees on risk-informed decisions, and adhere to security policies. It effectively manages challenges traditional DLP solutions find difficult such as data silos, data dispersion in hybrid workforces, and threats from malicious insiders.</p>

</div> <p><b>Analyst QuickTake</b> :<br>
 FortiDLP is the direct result of <a href="https:<br>
//sp-edge.com/updates/32390"> Fortinet's acquisition of Next DLP </a> , now integrated and rebranded within the Fortinet Security Fabric. The solution maintains Next DLP's core data protection and insider risk capabilities while adding integration with Fortinet's broader security portfolio. This product launch reflects Fortinet's expansion in the enterprise DLP market, combining Next DLP's technology with Fortinet's established security infrastructure.</p>

All Updates

Traceable AI raises USD 60 million in Series B funding

N-able acquires Adlumin for USD 266 million to strengthen cybersecurity offerings

Rapid7 adds Microsoft security coverage to MXDR service

Snyk acquires Probely for undisclosed sum to enhance API security testing

Trustwave and Cybereason merge to create global cybersecurity platform

Upwind raises USD 100 million in Series B funding for global expansion and R&D

Permiso Security releases three open-source cloud security tools

CrowdStrike to acquire Adaptive Shield to unify cloud and identity security protection

NTT Data partners with Palo Alto Networks to deliver AI-powered managed security service

Nedscaper partners with Responders to combine managed security and incident response services

Fortinet launches FortiDLP for data protection and insider risk management

Next-gen Cybersecurity

Traceable AI raises USD 60 million in Series B funding

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