2. Momentum Cyber Is Pleased To Release Its Monthly Cybersecurity Snapshot.
Cybersecurity Snapshot | July 2023
Purpose
▪ We are dedicated to consistently providing valuable insights on the dynamic and rapidly evolving Cybersecurity landscape
▪ We maintain the industry leading proprietary M&A and Financing Transaction Databases – unrivaled in its accuracy, quality, and scale
▪ We complement our proprietary database with data from various industry leading data aggregators and research publishers, from both North America
and globally, representing millions of data points and decades of institutional industry knowledge and experience
Background
▪ Our July Cybersecurity Snapshot focuses on private and public market strategic activity and key sectors
▪ Key highlights include:
- Examined July Cybersecurity transactions (M&A and VC / PE) to provide valuable insights, identify key historical industry trends, and evaluate year-
to-date performance
- Updated the CYBERscape to reflect recently added Cybersecurity companies
- Highlighted key M&A and financing transactions as well as public market performance
Momentum Cyber | July 2023
3. Table Of Contents
I. About Momentum Cyber 3
II. Executive Summary 6
III. Industry Perspectives 8
IV. Strategic M&A & Financing Deal Activity 12
M&A Activity 13
Financing Activity 17
V. CYBERscape 20
VI. Public Company Trading Analysis 22
VII. Transaction Spotlights 28
Momentum Cyber | July 2023
5. 4
Momentum Cyber | July 2023
Momentum Cyber Is The Premier Trusted Advisor To The Cybersecurity Industry.
We provide bespoke, high-impact advice combined with tailored senior-level access. As world-class operators & advisors, we
cater to the unique needs of both earlier stage founders, CEOs & boards, as well as the complexity of later stage & public
companies throughout their lifecycle – incubation to exit.
Firm Highlights Strategic Advisory Services
Headquartered In ATX
Unrivaled Industry Network
Austin, Texas
8601 Ranch Road 2222,
Building 1, Suite 290
Austin, TX 78730
Over a Century of
Experience as World Class
Operators & Advisors
Unrivaled Thought
Leadership in
Cybersecurity Through
Insightful Research
C Y B E R cloud
Cyber Exit Savvy – Deep
Expertise Selling to
Strategic & Financial
Buyers
Mergers &
Acquisitions
Private Equity /
Growth Financing
Board & Special
Situation Advisory
Corporate
Finance
Partnerships &
Business Development
Corporate Strategy
& Development
15,000+ 3,000+ 1,000+ 500+ 450+
Executives & Board
of Directors
Investors
(VC / PE)
Leading
CISOs
Channel & Service
Providers
Media &
Influencers
Government
Contacts
Strong Israel
Network
3,500+ Cyber Companies Tracked 20,000+ Strategic & Investor Contacts
6. 5
Momentum Cyber | July 2023
acquired by
Managed Security
Service Provider
Sellside Advisor
acquired by
Kubernetes
Security
Sellside Advisor
acquired by
Vulnerability
Management
Sellside Advisor
acquired by
Extended Detection
& Response
a portfolio company of
Sellside Advisor
strategic
investment by
Secure Access
Service Edge
Financial Advisor
Bot Mitigation &
Fraud Prevention
Buyside Advisor
acquired
Cloud
Security
Buyside Advisor
acquired
Security Consulting
& Services
Buyside Advisor
acquired by
Security
Operations
Sellside Advisor
Bot Mitigation &
Fraud Prevention
Financial Advisor
acquired
strategic
investment in
strategic
investment by
Risk &
Compliance
Financial Advisor
acquired by
Extended Detection
& Response
Sellside Advisor
acquired by
Managed Detection
& Response
Sellside Advisor
merged with
Managed Security
Service Provider
a portfolio company of
Sellside Advisor
strategic
investment by
Governance, Risk
& Compliance
Financial Advisor
Security
Analytics
Sellside Advisor
acquired by
Network
Security
Sellside Advisor
acquired
Managed Detection
& Response
Buyside Advisor
Web
Security
Sellside Advisor
acquired by acquired by
Financial Advisor
strategic
investment by
Governance, Risk
& Compliance
Award-Winning Advice
Top Tier Media Coverage
Select Transactions
Private Equity Deal of the Year
2021 Americas M&A Atlas Awards
Deal of the Year
2022 SC Media Awards
Visionary in Strategic Advisory
2023 Global InfoSec Awards
8. Cybersecurity Activity Highlighted By Thales’ Acquisition Of
Imperva And TPG’s Acquisition Of Forcepoint’s G2CI Business.
July 2023 Strategic Deal Flow
M&A Activity
▪ There were 23 M&A transactions announced in July 2023; a 5% increase YoY. The month
included $3.8B in total disclosed M&A deal volume in July from 2 disclosed deals
▪ Notable M&A deals in July included Thales’ acquisition of Imperva for $3.6B, TPG’s
acquisition of Forcepoint’s Government & Critical Infrastructure business, and Spire
Capital’s acquisition of Cobwebs Technologies for $200M
▪ The most active sectors across M&A were MSSP (5), Security Consulting & Services (4),
and Network & Infrastructure Security (4)
Financing Activity
▪ There were 56 Financing transactions completed in July 2023; a 44% YoY decrease. The
month included $631M in total capital with a median deal size of $7.4M
▪ Notable financing deals in July included OneTrust’s $150M Later Stage VC raise,
Netcraft’s $100M PE Growth raise, and Secure Code Warrior’s $50M Series C
▪ The most active sectors across Financing were Risk & Compliance (10), Data Security (9),
and Identity & Access Management (8)
July M&A Deals: Top Sectors By Activity (1)
July Financing Deals: Breakdown By Stage (2)
$80
$173
$35
$301
27
9
3
13
Early Stage Series A Series B Series C+
# of Deals
Total Amount Raised ($M)
Median
Size
$2.7M $21.0M $17.5M $75.0M
Source: Momentum Cyber Proprietary M&A & Financing Transaction Database, Capital IQ, Pitchbook, and 451 Group.
(1) Excludes 2 transactions across other sectors in July. (2) Excludes debt & PIPE transactions, including 4 debt transactions from July with $41M in deal value.
7
Momentum Cyber | July 2023
5
4 4
3 3
2
MSSP Security
Consulting &
Services
Network &
Infrastructure
Security
Identity & Access
Management
Risk &
Compliance
Application
Security
Note: Disclosed M&A deal volume ($) excludes TPG’s acquisition of Forcepoint’s G2CI business. Enterprise value was not publicly disclosed,
however, certain estimates note a deal value of approximately $2.45B.
10. Momentum Cyber Takes A Look At What’s Next After A Wave Of Contraction For Identity Companies In Public Markets.
Upcoming Sector Reports: The Rise Of Identity
Momentum Cyber | July 2023
This special report focuses on the multitude of factors driving the rise of identity
and what to expect in the future. It includes analysis of recent take-private
transactions, market dynamics for several established and emerging sub-sectors,
market maps with dozens of exciting early-stage companies, and perspectives
from discussions with several of the top founders and CEOs in the industry. We’re
also sharing insightful data about strategic activity in identity by sub-sector,
meticulously analyzed using our firm’s proprietary industry data.
Report Highlights
Analysis of Take-Private Acquisitions in the Identity Market
Market Dynamics Across Established & Emerging Identity Sub-Sectors
Market Maps & Features on Exciting Early-Stage Identity Companies
Discussions with Several Top Founders & CEOs in the Industry
Data Insights on Strategic Activity by Sub-Sector
Featuring Contributions From:
Arun Shrestha
CEO of BeyondID
Ev Kontsevoy
CEO of Teleport
Brian Pontarelli
CEO of FusionAuth
Subbu Rama
CEO of BalkanID
September 2023
9
11. Spotlighting The Rapidly Growing & Evolving AST Market.
Upcoming Sector Reports: Application Security Testing
Momentum Cyber | July 2023
Through this report, Momentum Cyber aims to highlight the diverse AST
solutions alongside deep dives into market dynamics, AI/ML risks, solutions &
impact on the landscape, Log4Shell case study, key themes, and much more
Momentum Cyber is excited to share this special report with its 25,000+
Cybersecurity stakeholders across the globe
AppSec Testing (AST) is important for multiple reasons: reduces the number
of vulnerabilities in released applications, mitigates potential consequences
of the exploitation of undetected or unevaluated vulnerabilities, identifies &
resolves root causes of vulnerabilities to avert future recurrences, and
enhances insights into an organization’s application security posture
Featured Contents
Sector Overview
Prevalent Testing Solutions & Case Studies
Artificial Intelligence & Machine Learning Integration
Interviews With Emerging Players
Market Landscape & Strategic Activity
Fall 2023
10
12. 11
Momentum Cyber Co-Hosted An Annual Kick-Off Event In Las Vegas At The Mandalay Bay.
Momentum Cyber At Black Hat 2023
Momentum Cyber | July 2023
Momentum Cyber was joined by NightDragon, Team8, and
YL Ventures for our annual kick-off event at Black Hat 2023
in Las Vegas with over 300 top CISOs, Cybersecurity leaders,
innovative startups and more.
The event was held at the Foundation Room of the
Mandalay Bay Resort in Las Vegas and included drinks,
entertainment, and great conversations throughout the
evening.
15. Date Target Acquirer
Enterprise Value
($M)
Total Raised
($M)
Target HQ Sector Target Description
07/27/23 ND ND
Dublin,
Ireland
MSSP
Provider of managed security services and other consulting offerings. Solutions include Managed
Detection & Response, with a 24/7 SOC, managed SIEM, Cybersecurity maturity assessments,
penetration testing, and PCI compliance.
07/26/23 ND ND
Jerusalem,
Israel
Network &
Infrastructure
Security
Network security software allowing users to secure network connections with one click. The
Company’s technology prevents breaches through a cloud network called the Remote Office Cluster
that locks down internal and cloud resources while also filtering and monitoring network traffic.
07/25/23 $3,600 NM San Mateo, CA
Application
Security
Delivers a suite of application security products that protect critical applications, APIs, and sensitive
data across enterprises. The Company’s solutions aim to stop software supply chain attacks, mitigate
account takeovers, protect web applications, and secure APIs.
07/19/23 ND $3 Boulder, CO
Application
Security
API security platform that captures real API traffic data to deliver insights into attacks and threats.
Platform features include runtime data capture, API traffic details across GraphQL and REST attributes
and a hot data layer for immediate retroactive analysis.
07/19/23 ND ND Chesapeake, VA
Endpoint
Security
Endpoint detection and response provider that detects potential threats across endpoint
environments including laptops and desktops. The Company’s Checklight EDR product scans
networks to identify and quarantine malware as it appears.
07/19/23 ND $1
New Delhi,
India
Identity & Access
Management
Identity software provider that aims to provide a suite of digital identity verification and know your
customer (KYC) authentication services. The Company removes manual tasks traditionally required in
the ID verification process and allows for verification to be done remotely.
07/17/23 ND ND London, UK
Identity & Access
Management
Developer of identity biometrics solutions to securely identify customers in real-time. The Company’s
biometrics solutions use network data to auto-discover and check the validity of customers’ mobile
numbers, as well as verify other data and check for potentially fraudulent activity.
07/17/23 ND ND
Prato,
Italy
MSSP
Provider of managed security services in Italy. Managed solutions include managed SOC services,
managed identity & data protection, network, system, cloud security, and assessments, incident
response & forensics, and attack service intelligence.
14
Cybersecurity M&A Deals During July 2023.
M&A Transactions
Source: Company Press Release and Website, 451 Group, Capital IQ, Crunchbase, and Pitchbook. NM – Not Meaningful, ND – Not Disclosed
Momentum Cyber | July 2023
16. Date Target Acquirer
Enterprise Value
($M)
Total Raised
($M)
Target HQ Sector Target Description
07/13/23 ND $24 Boston, MA
Identity & Access
Management
Developer of an identity threat detection & response platform that delivers visibility into identities
across an organization. The Company’s software analyzes telemetry across IAM systems to discover
workforce IDs and monitor for threats against users.
07/13/23 ND ND
Givisiez,
Switzerland
Security Consulting
& Services
Provider of security consulting solutions that assist users from evaluation to deployment. Services
include activity monitoring, breach & attack simulation, security awareness, managed offerings, and
other services spanning endpoint, compliance, and network security.
07/12/23 ND ND San Rafael, CA
Risk &
Compliance
Cyber insurance firm that delivers underwriting and distribution services to provide policies to
thousands of retail insurance agencies across the US. The Company also provides Cyber risk
management services to help mitigate potential attacks.
07/12/23 ND $28 Spokane, WA
Risk &
Compliance
Provides Cyber quantitative risk management software to help organizations make informed
decisions and optimize security investments. The Company’s solutions deliver both rapid risk
assessments as well as risk treatment analysis.
07/12/23 ND $99 Denver, CO
Risk &
Compliance
Third Party Risk Management provider that aims to protect enterprises through a solution suite that
quickly identifies and prioritizes critical security risks involving third party relationships as well as maps
assessment data against industry or custom frameworks to obtain actionable insights.
07/11/23 $200 $12 New York, NY
Threat
Intelligence
Threat intelligence software provider offering AI-powered open-source intelligence (OSINT) to
protect organizations from Cyber threats. Platform features include web discovery, visual link analysis,
real-time alerts, and dynamic reports to streamline intelligence briefings.
07/10/23 ND ND Scottsdale, AZ MSSP
Offers a suite of managed network and security services to continually improve security posture. The
Company’s offerings include 24/7 monitoring, automated network intrusion prevention, focused alert
triage, and monthly reporting to deliver a comprehensive summary of events and incidents.
07/10/23 ND $44 New York, NY
Network &
Infrastructure
Security
ICS & OT security platform aiming to defend critical infrastructure and IoT environments. The
Company’s software provides a centralized platform including automated asset visibility, real-time
threat detection, remote access security and other visibility and activity management features.
15
Cybersecurity M&A Deals During July 2023.
M&A Transactions
Source: Company Press Release and Website, 451 Group, Capital IQ, Crunchbase, and Pitchbook. NM – Not Meaningful, ND – Not Disclosed
Momentum Cyber | July 2023
17. Date Target Acquirer
Enterprise Value
($M)
Total Raised
($M)
Target HQ Sector Target Description
07/10/23
G2CI Business
ND 1
NM Austin, TX
Network &
Infrastructure
Security
Global Governments and Critical Infrastructure Business of Forcepoint that protects national security
and mission critical information. Offerings include Forcepoint’s Thin Client and High-Speed Guard
solutions that are deployed within the US DoD, IC, and Civilian Federal Government.
07/06/23 ND ND Dubai, UAE
Network &
Infrastructure
Security
Offers a suite of network firewall and digital risk protection solutions built to monitor and protect
networked environments. Solutions include enterprise risk assessment software to monitor digital
assets and a DNS firewall to protect networked devices.
07/04/23 ND ND
Barcelona,
Spain
MSSP
Provider of managed security services specializing in both preventative and reactive services. Key
services include managed detection & response, threat intelligence, incident management, digital
investigations, security auditing, red teaming, and security awareness training.
07/04/23 ND ND London, UK
Security Consulting
& Services
Security consulting firm that offers a suite of services assisting users throughout the security lifecycle.
Key offerings include program delivery, strategy, risk governance, and 360-degree security risk
assessments.
07/03/23 ND ND
Madrid,
Spain
MSSP
Provider of managed detection and response services aiming to protect users from Cyber attacks.
The company’s focus areas include both home networks and companies, also providing a next-gen
SOC to combat threats.
07/03/23 ND ND
Aarau,
Switzerland
Security Consulting
& Services
Provider of security services specializing in consulting, integration, and operation solutions to assist
clients. Services include security monitoring, audits, CISO-as-a-service, readiness assessments, pen
testing, security implementation, and managed offerings with SOC availability.
07/03/23 ND ND
Guyancourt,
France
Security Consulting
& Services
Security services firm that aims to protect people, data, and devices through technical expertise,
integration, in-house products, consulting and security training. The Firm’s services allow users to
manage risks and ensure security sustainability.
16
Cybersecurity M&A Deals During July 2023.
M&A Transactions
Source: Company Press Release and Website, 451 Group, Capital IQ, Crunchbase, and Pitchbook. NM – Not Meaningful, ND – Not Disclosed. 1 – Enterprise value not publicly disclosed, however, certain estimates note a deal value of approximately $2.45B.
Momentum Cyber | July 2023
18. Highlighted July Financing Transactions
Momentum Cyber Is Pleased To Release Its Monthly Cybersecurity
Snapshot.
19. Date Company Deal Stage
Amount Raised
($M)
Total Raised
($M)
Sector Founding Date HQ Select Investors
07/31/23 Series B $24 $39
Threat
Intelligence
Alpharetta, GA 2019
07/26/23 Series A $35 $49
SecOps
& IR
Seattle, WA 2022
07/26/23 Series A $17 $21
Fraud &
Transaction
Security
Tel Aviv,
Israel
2021
07/25/23
Early
Stage VC
$10 $44
SaaS
Security
Tel Aviv,
Israel
2019
07/24/23
Later
Stage VC
$150 $1,120
Risk &
Compliance
Atlanta, GA 2016
07/19/23 Series A $25 $32 Blockchain Boston, MA 2020
07/18/23 PE Growth $100 $100
Digital Risk
Management
London, UK 1994
07/13/23 Series C $50 $165
Application
Security
Chippendale,
Australia
2015
18
Selected Cybersecurity Capital Raises During July 2023.
Financing Transactions
Source: Company Press Release and Website, 451 Group, Capital IQ, Crunchbase, and Pitchbook. Includes transactions ≥ $10M in value. 1 – Pox Labs is the development team behind Manta Network, a web3 privacy protocol where the funding will be deployed.
Momentum Cyber | July 2023
1
20. Date Company Deal Stage
Amount Raised
($M)
Total Raised
($M)
Sector Founding Date HQ Select Investors
07/11/23 Series A $30 $40
SecOps
& IR
2021
Tel Aviv,
Israel
07/06/23 Debt $22 $22
Security Consulting
& Services
1999
Valencia,
Spain
07/04/23 Series A $11 $11
Data
Security
2017
Barcelona,
Spain
19
Selected Cybersecurity Capital Raises During July 2023.
Financing Transactions
Source: Company Press Release and Website, 451 Group, Capital IQ, Crunchbase, and Pitchbook. Includes transactions ≥ $10M in value.
Momentum Cyber | July 2023
30. 29
Financing Enables Increased Scale & Support For OneTrust Users.
OneTrust Raises $150M Later Stage VC Funding
Source: Pitchbook, 451, Company Websites, Press Releases
Momentum Cyber | July 2023
Company Overview Transaction Commentary
OneTrust’s Trust Intelligence Platform provides GRC,
ethics, ESG & data discovery solutions to enterprise
customers, enabling efficient compliance with 10+
different regulation standards. Through its offerings,
OneTrust delivers a single platform to gain business
visibility, actionable insights, & automation across both
privacy and data discovery.
With OneTrust's software, companies can protect sensitive data and
manage the increasing volume and complexity of regulatory issues.
This investment demonstrates our confidence in the company's
vision, leadership, and ability to execute. We are excited to be
partnering with OneTrust to make it easier for organizations around
the world to demonstrate trust.”
Joy Tuffield, Partner – Generation Investment Management
We are focused on delivering strong customer experiences and
will continue to evolve our platform as our customers' needs
grow. This funding is a testament to our sustained growth, market
leadership, and customer-centric innovation. We are pleased to
be working with Generation.”
Kabir Barday, CEO – OneTrust
HEADQUARTERS
Atlanta, Georgia
FOUNDED
2016
SECTOR
Risk & Compliance
MANAGEMENT TEAM
Kabir Barday (CEO), JP Halebeed (CTO)
TOTAL AMOUNT RAISED
$1.1B
SELECT INVESTOR(S)
Generation Investment Management, Insight Partners
Platform Features
GRC & Security
Assurance
Protects organizations and their supply chains from Cyber threats and global crises. OneTrust’s cloud offering
enables its users to inventory and connect its entire IT ecosystem to monitor risk and streamline compliance,
automate third-party management & design efficient internal compliance audits
Privacy & Data
Governance
Empowers users to comprehend data across their enterprise, conform to regulatory requirements, and
operationalize risk mitigation. The solution serves as a unified privacy management platform, improves data
quality to ensure continuous compliance & syncs consent and preferences across customer touchpoints
Ethics &
Compliance
Encourages open environments for a user’s employees through ensuring continuous insight into the health of a
company’s culture. Such insights include interactive employee ethics training, anonymous reporting hotlines &
third-party due diligence
ESG &
Sustainability
Enables users to define core ESG metrics and goals, progress on achieving set targets & gain enhanced
transparency with key stakeholders. Suppliers are also analyzed for ESG progress and their contributions towards
indirect emissions
$150 Million
Later Stage VC
July 24, 2023
31. 30
Financing Raise Supports Growth Of Firm’s Services, Talent Acquisition, & Customer Success Efforts In First Raise Since Founding In 1995.
Netcraft Raises $100M PE Growth Financing
$100 Million
PE Growth
July 18, 2023
HEADQUARTERS
London, UK
FOUNDED
1995
SECTOR
Digital Risk Management
MANAGEMENT TEAM
Ryan Woodley (CEO)
TOTAL AMOUNT RAISED
$100M
SELECT INVESTOR(S)
Spectrum Equity
Netcraft provides online brand protection to
discover and remediate phishing, fraud, scams, and
other Cyber attacks through automation, AI,
machine learning, and human protection. The
Company offers a suite of disruption and takedown
services to ensure that malicious content is blocked
and removed efficiently from online platforms.
Platform Overview
Company Overview Financing Commentary
Netcraft is the most impressive cybersecurity business
you’ve never heard of. That’s what got us excited about
this company. They’ve been able to fly under the radar to
build a truly distinctive product that solves a hard
problem. They have an advanced automated solution
which cripples millions of attacks each year. The level of
effectiveness, speed, and scale is the best we’re aware of
in the industry, which speaks to the hundreds of persistent
blue-chip customers.”
Parag Khandelwal, Managing Director – Spectrum Equity
New types of cybercrime are constantly emerging and
becoming increasingly complex. We’re investing in both
the product and people to accelerate progress toward our
mission of detecting and disrupting cybercrime at scale to
create a safer online experience for all internet users.”
Ryan Woodley, CEO – Netcraft
Source: Pitchbook, 451, Company Websites, Press Releases
Momentum Cyber | July 2023
Cybercrime
Detection
Provides brand protection monitoring for threats along with features including direct search & detection, input
from the Company’s community and partners, and data points to analyze suspicious site reports
Threat
Intelligence
Converts data into valuable insights through an intelligent network that classifies data, automates attack analysis,
and continually updates through rule-based matching to identify attack targets
Disruption
& Takedowns
Blocks access to potential attacks from targeting organizations through rapid response to validated threats,
website takedown notifications, and an extensive database assisting with outreach & response
Transparency
& Reporting
Allows organizations to track performance and monitor active takedown requests with features including alerts
when attacks are detected, direct access to attack data, and helpful dashboards, graphs, and tables
32. Acquisition Allows Thales To Bolster Its Digital Identity And Security (DIS) Division.
Thales Acquires Imperva
Source: Pitchbook, 451, Company Websites, Press Releases
HEADQUARTERS
San Mateo, California
FOUNDED
2000
SECTOR
Application Security
MANAGEMENT TEAM
Pam Murphy (CEO), Kunal Anand (CTO)
TOTAL AMOUNT RAISED
NM
SELECT INVESTOR(S)
Thoma Bravo
With this acquisition, we are seizing a unique opportunity to
accelerate our cybersecurity capabilities and are taking an
important step towards our ambition to build a world-class
global cybersecurity integrated player, providing a
comprehensive portfolio of products and services.”
Patrice Caine, CEO – Thales
Today’s announcement represents an exciting new chapter
for Imperva, one that will further our mission to help
organizations protect data and all paths to it, bring better
protection and strategic value to our customers and
partners, and create more opportunities for our team
members.”
Pam Murphy, CEO – Imperva
acquires
$3.6 Billion
July 25, 2023
Target Overview
Transaction Commentary
Imperva provides data security software designed to
safeguard data and its access routes at every phase of
digital evolution. The company’s platform specializes in
delivering an array of services, encompassing cloud-
centric security solutions like web application firewalls,
database safeguarding, data masking, load balancing,
attack analysis, behavioral analytics, and content delivery
networks.
Deal Rationale
Thales’s acquisition will allow the Company to take its
Cybersecurity business to the next level by breaking into
the application security market and integrating Imperva’s
innovative security offerings
Imperva stated it is aligned with Thales's vision to deliver
greater product innovation and efficiency through
disruptive solutions, while helping to simplify the
greatest security challenges facing organizations today
Platform Features
Application Performance
Provides security that keeps up with DevOps to protect
applications and datastores
Application Security
Automatically protects applications and APIs from DDoS, bot, and
supply chain attacks anywhere
Data Security
Secures sensitive data across on-premises and cloud environments
through simplified compliance and audit reporting
Network Security
Ensures DNS resolution at the edge for uninterrupted operations
and protects applications form disruptive denial of service attacks
Momentum Cyber | July 2023 31
33. Acquisition Enables Forcepoint’s G2CI Business With Greater Flexibility And Growth Positioning.
TPG Acquires Forcepoint’s Global Governments and Critical Infrastructure Business
Source: Pitchbook, 451, Company Websites, Press Releases. 1 – Enterprise value not publicly disclosed, however, certain estimates note a deal value of approximately $2.45B.
HEADQUARTERS
Austin, Texas
FOUNDED
1994
SECTOR
Network & Infrastructure Security
MANAGEMENT TEAM
Manny Rivelo (CEO), Sean Berg (President)
TOTAL AMOUNT RAISED
NM
SELECT INVESTOR(S)
Francisco Partners
Today’s operating environment – one in which data volumes
are compounding, attack surfaces are broadening, and
threats are growing in sophistication – demands dynamic
security solutions. This is especially true for the public sector,
and Forcepoint has designed its platform to address the
unique complexities of government objectives and culture.
We’re excited to partner with Sean and the G2CI team to
expand the platform and further its position as a leader in
high assurance, zero trust security.”
Tim Millikin, Partner – TPG
TPG has a long history of carving-out, building, and scaling
world-class cybersecurity companies. We’re confident that
this partnership, along with continued support from
Francisco Partners, will provide us the resources and
expertise to strengthen our position as a partner of choice
for government agencies.”
Sean Berg, President – Forcepoint G2CI
acquires
Undisclosed
July 10, 2023
Target Overview
Transaction Commentary
Forcepoint G2CI provides trusted, data driven
security solutions to national security and intelligence
communities enabling organizations to collaborate
and conduct mission-critical work securely and
effectively. The Company has been a leader in the
global Cross Domain Solutions market for more than
two decades.
Deal Rationale
TPG’s acquisition allows the firm to expand its
Cybersecurity portfolio and help bolster the Forcepoint
GSCI platform to further its position as a leader in high
assurance, zero trust security
Forcepoint G2CI stated it is confident the partnership
will further help provide the resources and expertise to
continue its strong position as a partner of choice for
government agencies
Platform Features
Access Anywhere
Allows users to securely access mission critical data and business
processes in the office, in the field or in the cloud
Advanced Analytics
Rapidly transforms information from across the network into
accurate insights to inform the right actions
End-to-end visibility and control
Protects data everywhere it resides and moves across the
enterprise, wherever users work
Adaptive security
Prevents data loss in high-risk instances with behavioral-driven risk
identification and real-time enforcement
Momentum Cyber | July 2023 32
1
34. MOMENTUM CYBERSECURITY GROUP, LLC
8601 Ranch Road 2222, Building 1, Suite 290, Austin, TX 78730
Securities transactions offered through Momentum Capital Markets, LLC, Member FINRA and SIPC
