Breaking down the numbers: Q2 2024 cybersecurity funding activity recap

We present a list of selected cybersecurity companies that received funding during the second quarter of 2024 (Q2 2024).

Alethea

April | $20 million

Alethea closed a $20 million Series B funding round led by GV, with participation from Ballistic Ventures, who led Alethea’s Series A funding in 2022. Also participating in the round is Hakluyt Capital, which invests alongside leading venture capital funds, targeting companies with high growth potential and international ambitions.

BforeAI

April | $15 million

BforeAI has secured $15 million in Series A funding led by SYN Ventures, with renewed participation from early investors Karma Ventures, Karista, Addendum Capital, and a new investment from the Partnership Fund for New York City.

Dropzone AI

April | $16.85 million

Dropzone AI has raised $16.85 million in Series A funding. Theory Ventures led the round, adding to their cohort of existing investors Decibel Partners, Pioneer Square Ventures, and In-Q-Tel (IQT).

Entro Security

June | $18 million

Entro Security has closed an $18 million Series A round, led by Dell Technologies Capital with the participation of seed investors Hyperwise Ventures and StageOne Ventures, as well as angel investors such as Rakesh Loonkar and Mickey Boodaei.

Huntress

June | $150 million

Huntress announced a significant milestone with the closure of a $150 million Series D funding round led by Kleiner Perkins, Meritech Capital, and existing investor Sapphire Ventures.

HYPR

June | $30 million

HYPR secures $30 million in funding from Silver Lake Waterman to drive accelerated advancements in technologies to combat the rising threat of generative AI-driven credential-based attacks.

Island

April | $175 million

Island raised $175 million in a Series D round, led by new investor Coatue and existing investor Sequoia Capital, taking its total raise to $487 million.

LayerX

May | $26 million

LayerX announced $26 million in Series A funding led by Glilot+, the early-growth fund of Glilot Capital Partners, with participation from Dell Technologies Capital and other investors.

Nagomi Security

April | $30 million

Nagomi Security emerged from stealth with $30 million in funding to fundamentally redefine how security teams optimize effectiveness and drive efficiency from their existing security tools. The company operated in stealth mode with Seed funding from Team8, and the recent round was led by TCV, with participation from CrowdStrike Falcon Fund and Okta Ventures.

PVML

April | $8 million

PVML raised $8 million in seed funding led by NFX with participation from FJ Labs and Gefen Capital. PVML democratizes secure access to enterprise data, based on two pillars: Differential Privacy and AI.

Semperis

June | $125 million

Semperis announced it secured $125 Million in growth financing from J. P. Morgan and Hercules Capital.

Simbian

April | $10 million

Simbian emerged from stealth mode with oversubscribed $10 million seed funding to deliver on fully autonomous security. Simbian has received initial investment from security and AI-focused investors Cota Capital, Icon Ventures, Firebolt and Rain Capital.

SOCRadar

May | $25.2 million

SOCRadar announced the successful completion of its Series B funding round, raising $25.2 million. The round was led by PeakSpan Capital, with participation from Oxx, reflecting investor confidence in SOCRadar’s innovative approach to cybersecurity.

StepSecurity

May | $3 million

StepSecurity announced the closing of its $3 million seed funding round led by Runtime Ventures, with participation from Inner Loop Capital, SaaS Ventures, DeVC, and several notable industry leaders as angel investors.

StrikeReady

April | $12 million

StrikeReady has received $12 million in Series A funding, led by 33N Ventures, with participation from Hitachi Ventures, Monta Vista Capital, and industry luminaries Brian NeSmith, executive chairman and former CEO at Arctic Wolf, and Rod Beckstrom, former CEO of ICANN and Founding Director of the U.S. National Cybersecurity Center (now CISA).

Sublime Security

April | $20 million

Sublime Security has raised $20 million in Series A funding, led by Index Ventures with participation from previous investors Decibel Partners and Slow Ventures.

Traceable AI

May | $30 million

Traceable AI announced a $30 million strategic investment from a group of investors, including Citi Ventures – the venture arm of Citigroup, lead investor IVP, Geodesic Capital, Sorenson Capital, and Unusual Ventures.

Transcend

May | $40 million

Transcend raised $40 million in Series B funding led by new investor StepStone Group, with participation from HighlandX and existing investors Accel, Index Ventures, 01 Advisors (01A), Script Capital, and South Park Commons.

XONA

June | $18 million

XONA closed an $18 million strategic funding round led by established cyber investor Energy Impact Partners (EIP), bringing the company’s total funding to $32 million.

YesWeHack

June | €26 million

YesWeHack announces a €26 million Series C funding round. The round is led by Wendel, alongside new investors such as Adelie and Seventure Partners, as well as reinvestment from Bpifrance, Open CNP and Eiffel Investment Group.