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Triple H Doesn’t Approve, but Security Company Raises $15.4M
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ON DECK FOR TODAY
CACHING IN: Chain Reaction adds $70M, CyberSmart $15.4M
JALA-MEME-ÑOS: 🌶️ 🤣
DUMPSTER FIRE
Eyebrow raising breaches that you already know about, but with our 🌶️ added
We’ll be back, but had to leave our breach mascot
CACHING IN
We cover security start-ups that get money, security company mergers and acquisitions, and watch stock prices go up and down.
RAISED: $70M (Series C - all done in stealth)
DATE: February 23, 2023
LED BY: Morgan Creek Digital
PARTICIPATED: Hanaco Ventures, Jerusalem Venture Partners, KCK Capital, Exor, Atreides Management, and BlueRun Ventures
CEO: Alon Webman
WHAT: semiconductor blockchain and privacy hardware (not entirely sure what that means, but they mention real time compute on encrypted data)
Our Take
Chain Reaction has pulled in $115M, raised multiple rounds, and are just now coming out of stealth. That’s a LOT of money, but chips are expensive.
So, why are we talking about a crypto company?
The press release had quite a few buzzwords (don’t they all) and they mentioned privacy…so hey why not?!
TBH we don’t totally understand the use-cases, and reached out to our friends at the Milk Road to see if they had input, but we didn’t hear back just yet. We’ll update as we get more info.
With the Crypto Winter and the economy teetering on the edge of a recession, it’s probably as good of a time as any to launch. Not that we think Chain Reaction is going to be the next Microsoft, but recessions breed monsters.
They have yet to ship a product, but per Calcalist, expects to achieve general availability by the end of March 2023.
That seems more ambitious than a teenage boy at prom. It’s a huge hurdle to jump in such a short amount of time.
RAISED: $15.4M (Series B)
DATE: February 23, 2023
LED BY: Oxx
PARTICIPATED: British Patient Capital, Legal & General Capital, Solano Partners
CEO: Jamie Akhtar
WHAT: Cybersecurity-in-a-Box for SMB (protection and insurance)
Our Take
Cybersecurity for SMB is tougher industry to compete in than standing between Nick Diaz and his tequila. Margins are tight, and SMB space can be time suck because they have just as many problems at the Enterprise, but pay significantly less.
But that hasn’t stopped CyberSmart from gaining marketshare. Having an insurance component is excellent add-on and surely adds to the margins.
Most people don’t care, but we wish leadership was easily located on their site. The security space is usually eager to show-off their talent and it helps build trust.
Just don’t tell Triple H they weren’t showcasing their industry Pedigree.
Jala-meme-ños
🌶️ 🤣
TALL GLASS OF MILK
Time to cool down with a tall glass of milk. Thanks for reading! We'll be back tomorrow. In the meantime, feel free to reach out if you have any questions or feedback. Keep crushing it!
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