DATA SECURITY

Evolution Equity Partners Expands Focused Investment Platform for Cybersecurity

prnewswire | December 23, 2020

In 2020, Evolution activated a $250m Fund after fully investing a $125m Fund in 2019 and increased AUM to over $675m. The firm completed 8 investments this year including:

Quantexa – London based market leader in financial crime detection and real time AML/KYC. $56m Series C Round led by Evolution.
Unbound Technologies – New York City/Tel Aviv based market leader in secure multi-party computation and cryptographic keys. $20m Series B Round led by Evolution.
Awake Security – Palo Alto based leading network security platform. $36m Series C Led by Evolution.
(Stealth Company) – London based Quantum cybersecurity company. Early-stage financing led by Evolution.
Existing portfolio companies raised follow on rounds of financing in 2020 including:

DefinedCrowd – Seattle based AI/ML data platform leader.
Panaseer – London based continuous control monitoring cybersecurity leader.
Onapsis - Boston based application cybersecurity leader.
Logpoint – Copenhagen based security incident and event management (SIEM) leader.
CounterCraft – London based cyber deception and threat intelligence platform.
Evolution cybersecurity portfolio companies growth news:

Security Scorecard – Security Scorecard Accelerates on Pathway to 20 million Rated Companies
Truefort – Winner of 2020 Red Herring Top 100 North America Award
DFLabs – IncMan SOAR SaaS Cloud Platform Drives Growth
Richard Seewald, Founder & Managing Partner at Evolution, stated: "In 2020 Evolution continued to add talent and assets to a team of leading cybersecurity investors and company builders while partnering with trailblazing software companies expanding in global markets. As we look to 2021, there are a unique set of conditions that set the stage for cybersecurity entrepreneurs to make meaningful impact protecting critical infrastructure in cyberspace. Evolution is privileged to be partnering with these great companies."

Awards

Among many notable accolades awarded in 2020 to Evolution and our portfolio, we are pleased to be working with some of the fasted growing cybersecurity and enterprise software companies in the world.

Platform Expansion

Evolution launched a London office to compliment Palo Alto, New York City and Zurich and added professionals to expand the platform of expertise that serves portfolio companies. The firm has 15 investment professionals including two recent hires:

Ollie Bone, Associate – Prior to joining Evolution, Ollie led venture scouting for global corporates in defense, manufacturing and consulting. He ran an accelerator program for cybersecurity scaleups building a UK and global support network for founders where he worked with leading cybersecurity companies.

Eduardo Martinez, Associate – Eduardo is an associate at Evolution Equity Partners focused on sourcing and monitoring investment opportunities across the technology sector. He is in charge of portfolio management and reporting, performing valuation analysis and due diligence of investments.

Spotlight

As cybercrime events have increasingly impacted organizations, cybersecurity has transformed from just an IT problem into a strategic issue where the C-Suite must take ownership. However, many executives and board members lack key knowledge about the cyber risks their organizations face and how to incorporate effective risk management decisions into their overall business strategy.

Spotlight

As cybercrime events have increasingly impacted organizations, cybersecurity has transformed from just an IT problem into a strategic issue where the C-Suite must take ownership. However, many executives and board members lack key knowledge about the cyber risks their organizations face and how to incorporate effective risk management decisions into their overall business strategy.

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NETWORK THREAT DETECTION

Lacework Quarterly Cloud Threat Report Shows the Automated Techniques Cybercriminals are Using to Attack Businesses in the Cloud

Lacework | August 31, 2021

Lacework, the data-driven security platform for the cloud, today released its quarterly cloud threat report, unveiling the new techniques and avenues cybercriminals are infiltrating to profit from businesses. The rapid shift of applications and infrastructure to the cloud creates gaps in the security posture of organizations everywhere. This has increased the opportunities for cybercriminals to steal data, take advantage of an organization's assets, and to gain illicit network access. "It's in enterprises' best interest to start thinking of cybercriminals as business competitors," said James Condon, Director of Research at Lacework. "Last year alone, cybercrime and ransomware attacks cost companies $4 billion in damages. As more companies shift to cloud environments, we're seeing an increase in demand for stolen access to cloud accounts and evolving techniques from cybercriminals, making enterprises even more vulnerable to cloud threats." New research from Lacework Labs, the dedicated research team at Lacework that focuses on new threats and attack surface risks within the public cloud, sheds light on the crimeware and growing ransomware landscape in the face of new threat models and emerging cybersecurity challenges. Based on anonymized data across the Lacework platform from May 2021 - July 2021, key findings of the report include: Initial Access Brokers (IABs) Expand to Cloud Accounts As corporate infrastructure continues to expand to the cloud, so do opportunistic adversaries as they look to capitalize on the opportunity. Illicit access into cloud infrastructure of companies with valuable data/resources or wide-reaching access into other organizations offers attackers an incredible return on investment. In particular, Lacework Labs found Amazon AWS, Google Cloud, and Azure administrative accounts are gaining popularity in underground marketplaces. Threat Actor Campaigns Continue to Evolve: Lacework Labs has observed a variety of malicious activity originating from known adversary groups and malware families. This section showcases those who continue evolving their operators as a valuable return on investment: 8220 Gang Botnet and Custom Miner: Lacework Labs recently found a new cluster of activity linked to an 8220 Gang adversary group campaign of infecting hosts, primarily through common cloud services, with a custom miner and IRC bot for further attacks and remote control. This cluster shows operations are evolving on many levels, including efforts of hiding botnet scale and mining profits.This is indicative of attacks growing in size. TeamTNT Docker Image Compromise: The Lacework Labs team discovered threat actor TeamTNT backdooring legitimate Docker Images in a supply chain-like attack. Networks running the trusted image were unknowingly infected. Developer teams need to be certain they know what's in the image they pull. 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DATA SECURITY

A Cybersecurity Startup Vulcan Cyber Raises $21 Million for Expansion of Vulnerability Remediation SaaS Platform

Vulcan Cyber | March 18, 2021

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SOFTWARE SECURITY

Black Kite Launches Aviator Partner Program to Expand Deployment of Trusted Cyber Risk Ratings Solutions

Black Kite | August 20, 2021

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