Unicorn Nest news
Cyber risk management platform provider Panorays nabs $42M
– Panorays, a provider of security risk management software, announced that it closed a $42m series B funding round led by Greenfield Partners with participation from Aleph and Oak HC/FT, as well as new investors BlueRed Partners, Greenspring Associates, and Moneta VC.
– The company says that it plans to spend the capital on product R&D and hiring as it looks to expand the size of its platform.
– Investments in cyber risk mitigation technologies continue to grow as cyberattacks proliferate during the pandemic. In 2020, the average business cost of a cyberattack was $3.86m, and it took over 200 days to detect the breach.
– Perhaps unsurprisingly, Gartner projects that worldwide spending on information security and risk management technology and services is forecast to climb 12.4% to reach $150.4bn in 2021.
Unicorn Nest news
Coralogix Raises $55M in Series C Funding
– Coralogix from San Francisco provides a stateful streaming platform for modern engineering teams.
– The company raised $55m in Series C funding.
– The round was led by Greenfield Partners with participation from Red Dot Capital Partners, StageOne Ventures, Eyal Ofer’s – O.G. Tech, Janvest Capital Partners, Maor Investments, and 2B Angels.
– The new investment will be used to extend the company’s platform beyond observability towards a comprehensive storage-free data solution.
Unicorn Nest news
Planck, the insurance data analytics platform, raises $20M growth round
– Planck, an AI-based data platform for commercial insurance underwriting, raised $20m funding.
– The funding came from 3L Capital and Greenfield Partners, along with returning investors Team8, Viola Fintech, Arbor Ventures and Eight Roads.
– This brings the New York-based startup’s total raised to $48m.
– Planck said it currently works with “dozens of commercial insurance companies in the U.S.,” including more than half of the top-30 insurers.
– It will use its new funding to build its U.S. team, expand into global markets and add products for new business segments.
Unicorn Nest news
Cynet Raises $40M in Series C Funding
– Cynet is a Boston, MA-based provider of an autonomous XDR platform.
– Company closed a $40m Series C funding.
– The round was led by Greenfield Partners with participation from existing investors Norwest Venture Partners, Vintage Investment Partners, BlueRed Partners and Deutsche Telekom.
– The new investment will be aimed at expanding the company’s business reach in the North American and European markets.
