Enterprise Security Report Subsector Analysis

Enterprise Security Report, August 2016
Tracxn
World’s Largest Startup Research Platform
2

Contents
Topic Page No.
Scope of Report 05
Entrepreneur Activity 07
Investment Trend 11
Who is Investing 19
Exit Outlook - IPO, Acquisitions 23
Sub Sector Analysis 30
Interesting Companies 47
Useful Links 58
Company List 60
Team 609
3
3

Illustrative Sectors We Track
MOBILE
EDUCATION
MOBILE COMMERCE
MOBILE PAYMENTS
MOBILE MARKETING
MOBILE DEV TOOLS
MOBILE HEALTH
MOBILE GAMING
MOBILE LEARNING
MOBILE COMMUNICATION
EDUCATION IT
SELF LEARNING
CONSUMER
HEALTHCARE
MARKETPLACES
SUBSCRIPTION COMM.
FOOD TECH
INTERNET FIRST BRANDS
UBER FOR X
SECOND HAND GOODS
TRAVEL
GAMING
LIFE SCIENCES
DIGITAL HEALTH
FINTECH
BITCOIN
PAYMENTS
SECURITY
STORAGE
NETWORKING
MOBILITY
IT OPS
CLOUD INFRASTRUCTURE
API MANAGEMENT
BIGDATA INFRASTRUCTURE
ENTERPRISE
INFRASTRUCTURE
TECH
INTERNET OF THINGS
3D PRINTING
HR TECH
BUSINESS INTELLIGENCE
MOBILE-FIRST ENT. APPS
INTELLIGENT ENT. APPS
OPEN SOURCE
RETAIL TECH
MARKETING TECH
STEALTH MODE
ENTERPRISE
APPLICATIONS

Sector Overview
Scope of report
The report covers companies that provide cybersecurity product & services for enterprises. Companies providing exclusively
services like cybersecurity consultancy, Managed Security Service Providers (MSSP) and resellers are out of the scope. Personal
security & privacy provider and Governance, Risk & Compliance (GRC) companies are also excluded from consideration.
• Total $25.67 Billion in Funding with $20.54 Billion invested in 1020 Companies between 2008 and 2016 YTD
• Total of 422 acquisitions with 99 Acquisitions between 2015 and 2016 YTD
Most active funds (In last 50 months)
• Sequoia Capital – (FireEye, Qihoo 360, Palo Alto Networks, Okta, Barracuda Networks, SumoLogic)
• Intel Capital – (OpenPeak, ForeScout, AlienVault, Bromium, Mocana)
• Accel Partners – (Tenable Network, Lookout, Airwatch, SumoLogic, Crowdstrike, Illumio, Netskope)
The scope of this report includes equity as well as debt funding received by the companies.

Scope of Report
Entrepreneur Activity
Investment Trend
Who is Investing
Exit Outlook - IPO, Acquisitions
Sub Sector Analysis
Interesting Companies
Useful Links
Company List
Team
6
6

95
178
190
229
248
195
27
0
60
120
180
240
300
2010 2011 2012 2013 2014 2015 2016
NumberofCompanies
7
YoY – Number of companies founded
Sumo Logic CrowdStrike Cylance Illumio Vera Cato Networks Deceitware
Bromium Bracket Computing Netskope Darktrace IronNet Cybersecurity Tascent DDoS Net

Niche Upcoming Sectors

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
0
10

YoY – Number of Rounds and Total Funding
Note: The funding includes debt rounds also.
$0.9B $0.9B
$1.2B
$1.3B
$1.9B
$4.0B
$3.1B
$4.8B
$2.3B
113
130
165
172
209
325
354
332
151
0
80
160
240
320
400
0
1
2
4
5
6
2008 2009 2010 2011 2012 2013 2014 2015 2016
NumberofRounds
FundingAmount(inBillions)
Funding Amount Number of Rounds

YoY – Number of Rounds by Stage

YoY – Funding by Stage

Average Ticket Size – Early Stage

Top investments in last one year

Funnel view of Sector

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
8
18

Most Active Investors in Sector
81
68
62
54
51
47
38 38 38
34
0
18
36
54
72
90
Sequoia Capital Intel Capital Accel KPCB Greylock
Partners
Norwest Venture
Partners
Andreessen
Horowitz
Bessemer
Venture Partners
Venrock Benchmark
Capital
TotalNumberofCompanies
ServiceNow Zumigo Webroot Workspot Zenprise Workspot Pindrop Security Wandera Vontu Vontu
Skyhigh Networks SecureKey SentinelOne Shape Security Wandera Shape Security SIGNIFYD Virtru Shape Security Skybox Security

Where are Top Investors investing

Top Investor by Stage of Entry

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
2
22

Top IPOs in last three years
IPO Date Company Overview
Funding
Amount
Ticker
Apr-2016 secureworks.com
SecureWorks
(Atlanta, 1999)
Cloud based SIEM solution as managed service
Noro Moseley Partners, Frontier Capital, Navigation Capital Partners, GE Equity, Centerview
Capital
$61.5M
SCWX
Feb-2016 quickheal.co.in
Quick Heal
(Pune, 1993)
Provider of IT security solutions
Sequoia Capital, Westbridge Capital $12.8M
QUICKHEAL
Oct-2015 mimecast.com
Mimecast
(London, 2003)
Email security and management
Insight Venture Partners, Index Ventures, Dawn Capital $83.15M
MIME
Jun-2015 sophos.com
Sophos
(Abingdon, 1985)
Enterprise security suite for network, endpoint and servers
TA Associates, Apax Partners
SOPH
Jun-2015 rapid7.com
Rapid7
(Boston, 2000)
Data analytics based threat detection and vulnerability assessment
Bain Capital Ventures, TCV, Bain Capital $91M
RPD
Apr-2015 apigee.com
Apigee
(Palo Alto, 2004)
API Management & analytics to predict customer behaviour
Accenture, Juniper Networks, Norwest Venture Partners, BlackRock, Net One Systems, Focus
Ventures, Bay Partners, Wing Venture Capital, Wellington Management, Vilicus Ventures, Pine
River Capital, Third Point Ventures, Sapphire Ventures
$198.18M
APIC
Mar-2015 isignthis.com
ISignthis
(Collingwood, 2012)
AML/KYC software for preventing Card Not Present (CNP) fraud
$14.95M
ASX:ISX
Sep-2014 cyberark.com
CyberArk
(Newton, 1999)
Privileged account security solution
SoftBank, Vertex Ventures Israel, Viola Group, Goldman Sachs, Viola Credit, JPMorgan Chase &
Co., Jerusalem Venture Partners, Nomura Holdings, Seed Capital Partners, IDB, CrossConti, Viola
Credit, Bregal Sagemount, oramapartners.com
$59M
CYBR

Major Acquisitions (2016 YTD)

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
9
29

August 2016Tracxn BlueBox : Enterprise Security
2205+ companies in the sector, 407 funded since 2015, $6.93B invested in 2015/16

Enterprise Security – Business Model Description

Top Business Models by Funding
$3.5B
$3.3B
$2.9B
$2.6B
$2.2B $2.2B
$1.8B
$1.5B
$1.4B
$1.1B
0.0
0.8
1.6
2.4
3.2
4.0
Network
Security
Endpoint
Security
BYOD
Security
Suite IAM Security
Analytics
Data
Security
Cloud
Security
Anti Fraud Application
Security
TotalFundingAmount(inBillions)
# Cos. 288 228 188 18 306 176 253 75 122 110
Avg. Age 2007 2006.8 2007.9 1993.3 2007.2 2008.3 2007.1 2011.1 2008.6 2008.1
Palo Alto Networks Qihoo 360 Good Technology FireEye Okta Tenable Network SafeNet Illumio LifeLock Apigee
Barracuda Tanium Lookout Symantec Ping Identity Sumo Logic Digital Guardian Netskope Pindrop Security Veracode

Network Security – Business Model Description

Network Security – Entrepreneur Activity and
Investment Trend

Network Security – Most Funded Companies

Endpoint Security – Business Model Description

Endpoint Security – Entrepreneur Activity and
Investment Trend

Endpoint Security – Most Funded Companies

BYOD Security – Business Model Description

BYOD Security – Entrepreneur Activity and
Investment Trend

BYOD Security – Most Funded Companies

IAM – Business Model Description

IAM – Entrepreneur Activity and Investment
Trend

IAM – Most Funded Companies

Stealth Mode Cybersecurity Startup
45

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
6
46

Interesting Seed Companies
Curated list of companies by the sector analyst are defined as Interesting
Company Overview Business Model
Total
Funding
smyte.com
Smyte
(2014, San Francisco)
Machine learning and classification engine based fraud detection
Y Combinator, Founder Collective, Harrison Metal, Baseline Ventures, Upside
Partnership
Website Security > Fraud
Prevention
$2.25M
blockscore.com
BlockScore
(2013, Palo Alto)
Identity verification for anti-fraud and regulatory compliance
Y Combinator, Lightspeed Venture Partners, Khosla Ventures, Battery Ventures, New
Atlantic Ventures, Boost VC, Bitcoin Opportunity Corp, Digital Currency Group
Anti Fraud > Payment Fraud $2.025M
drawbridge.io
Drawbridge Networks
(2014, New York City)
Agent-based micro-segmentation for data center security
Bowery Capital, Paladin Capital Group, Bloomberg Beta, Antecedent Ventures,
QueensBridge Venture Partners, Primary Venture Partner
Cloud Security > Cloud
Infrastructure Security
$1.7M
chainalysis.com
Chainalysis
(2014, Manhattan)
Blockchain based payment fraud prevention & compliance solutions
Techstars, Point Nine Capital, FundersClub, Common Angels, Barclays Accelerator,
Digital Currency Group, Converge Venture
Anti Fraud > Payment Fraud $1.6M
appknox.com
Appknox
(2014, Bangalore)
Automated security testing for mobile apps
Start-Up Chile, Joyful Frog Digital Innovation
Application Security > Dynamic
& Static Security Testing
$19.9k

Interesting Series A Companies

Interesting Series B Companies

Interesting Late Stage Companies

Top Funded Deadpooled Companies

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
7
57

Useful Links
Slide Title Content Platform Link
List of All Companies in readable format Companies Link
Upcoming Sectors Entrepreneur Activity Link
Niche Upcoming Sectors Entrepreneur Activity Link
Investments in last one year Investment Trend Link
Top IPOs in last three years Exit Outlook - IPO, Acquisitions Link
Major Acquisitions in last one year Exit Outlook - IPO, Acquisitions Link
Enterprise Security – Most Funded Companies Sub Sector Understand Link
Top Funded Deadpooled Companies Companies Link

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
9
59

Enterprise Security – Company List
COVERS THE FOLLOWING SECTORS
Anti Fraud
Application
Security
BYOD
Security
Cloud
Security
Data
Security
Database
Security
Email
Security
Endpoint
Security
IAM
Industrial
Security
IoT Security
Network
Security
Security
Analytics
Server
Security
Suite
Threat
Intelligence
Website
Security

Anti Fraud (1/30)
Anti
Fraud
Application
Security
BYOD
Security
Cloud
Security
Data Security
Database
Security
Email
Security
Endpoint
Security
IAM
Industrial
Security
IoT Security
Network
Security
Security
Analytics
Server
Security
Suite
Threat
Intelligence
Website
Security
Company Details Funding Investors
Versafe [Zion, 2009]: Versafe provided anti-fraud based enterprise security solution to protect online customer
from fraud, phishing, pharming, man-in-the-middle and malware threats across all device. Its cloud-based
service, Versafe advanced web and mobile protection detected malware-initiated fraud and other client side
online threats for mobile and web applications Acquired by F5 Networks in 2013 to integrate its anti-fraud
technology.
FraudMetrix [Hangzhou, 2013]: FraudMetrix (Hangzhou Tongdun Technology) is engaged in the development of
security products against internet risks and fraud. Tongdun (FraudMetrix) brings value for enterprises with data
intelligence. It covers antifraud areas including account fraud, transaction fraud, payment fraud, business fraud,
internet credit fraud, and corporate internal fraud. It was founded in 2013 by a group of antifraud scientists and
technology executives of the former Ali Group Security Department, PayPal, and RSA.
$85.3M
IDG Capital Partners, CBC Capital,
China Growth Capital, Oriza Holdings,
Qiming Venture Partners, Linear
Venture, China Growth Capital
Authicate [Los Angeles, 2016]: Authicate is a stealth mode cybersecurity startup which is developing two factor
authentication and 2-way push messaging based anti fraud solution. Intergrates with existing native applications
employing encrypted 2-way push messaging and 2FA. Currently focusing on internet retailers, banks and social
apps to deliver security for their existing native apps.
Abravant [San Francisco, 2015]: Abravant is a stealth mode cybersecurity company which is developing solution
for security in social media. Application is under development which employs a proprietary human interaction
processing. Claims to have team members with background at Stanford and Google.
BigID [New York City, 2015]: BigID is a cyber security company which is developing privacy management
platform for the global enterprise. Solution will monitor the dispersed customer data adhering compliance &
privacy regulations for reducing liability of enterprise from potential customer identity theft and misuse. An
early stage Israeli-US security company to deliver privacy risk & compliance management for customer identity
data.
$2.1M
Genacast Ventures, Boldstart
Ventures, Deep Fork Capital

Anti Fraud (2/30)
Anti
Fraud
Application
Security
BYOD
Security
Cloud
Security
Data Security
Database
Security
Email
Security
Endpoint
Security
IAM
Industrial
Security
IoT Security
Network
Security
Security
Analytics
Server
Security
Suite
Threat
Intelligence
Website
Security
RevReal [Beijing, 2015]: RevReal is a stealth mode security and authentication company which claims to assist
Chinese consumers with authenticating their purchases for ensuring products are not fake. Founder Johannes
Davidsson studied Chinese in Shanghai and International Sale in Sweden. He's member of Swedish Young
Professionals initiated under guidance of the Swedish Chamber of Commerce in China.
41st Parameter [San Jose, 2004]: 41st Parameter provides solutions for detecting and preventing fraud across
multiple channels for the world’s most valued and recognizable brands. Technology protects from cybercrime
threats including card not present fraud, new account origination fraud, phishing and account compromise,
credit bust outs, and fraud ring attacks. Acquired by Experian in 2013.
$42.41M
Norwest Venture Partners, KPCB,
Jafco Ventures, Georgian Partners,
Icon Ventures
Sentrant [Fredericton, 2012]: Sentrant provides fraud detection solution to detect botnet generated traffic.
Product detects fraud schemes used by botnet for generating fake traffic & clicks to skew the results of a
advertising campaign. Solution is cloud based which provides tracking & detection of fraud publishers & fraud
visitors on campaign basis. Employs dynamic behavioral signature & botnet security intelligence to protect
online advertisers' budget and their ad campaigns against fraudsters by detecting, reporting, and mitigating
non-human users and fraudulent websites in real-time.
$500K
Technology Ventures, New Brunswick
Innovation Foundation
Threat Mark [Brno, 2015]: Threat Mark is a cybersecurity startup which delivers solution to prevent cybercrime
& fraud in online environment. Developed neXtGEN security methods as Digital Identity Sensing Technology
(DIST) that analyzes users transactions and active operation, browsing habits, GUI interaction, device
characteristics, and geolocation to ensure it matches the behavior of application legitimate users. Claims to have
approach which is aware of device, session, user, transaction and employs big data analytics to perform signal
aggregation, data comparison and anomaly detection.

Anti Fraud (3/30)
Anti
Fraud
Application
Security
BYOD
Security
Cloud
Security
Data Security
Database
Security
Email
Security
Endpoint
Security
IAM
Industrial
Security
IoT Security
Network
Security
Security
Analytics
Server
Security
Suite
Threat
Intelligence
Website
Security
CustomerXPs [Bangalore, 2006]: CustomerXPs provides softwares and SaaS based services for enterprise fraud
management (EFM) and customer experience management (CEM). Solution employs real time big data, artificial
intelligence and behavioral and psychology based analytics to provide tacit, actionable and conversational
insight & direct the outcome of enhanced customer engagement and fraud-free transactions. Product Clari5
EFM is an EFM solution which detects and alerts about employee fraud, transaction monitoring, SMitch, Online
Banking fraud and card fraud using neural networks, time series & complex analytics. Clari5 CEM is CEM solution
to provide personalized & contextual interactions with customers in real time and include modules like Need
analysis, Seeker, Right sell, Direct channel booster, branch booster, Smart teller, iRM (integrated Relationship
Manager) and paperless branch banking. Solution is focused at customers in financial services, e-commerce,
retail and telecom industry. Named as Cool Vendor in Marketing by Gartner 2012 and part Of Microsoft
Ventures Summer 2015 Batch under Scale Up Accelerator Program.
$4M JAFCO Asia
Sentropi [Ahmedabad, 2012]: Sentropi provides online identification and fraud detection and prevention
solutions using device fingerprinting technology and tagging methods. Software analyses parameters regarding
the visitor’s browser, OS and hardware configuration in order to create a unique identity that can be tracked to
detect account takeover and fraudulent logins. Other products include Sentropi3D to automate over-the-phone
automated 3rd step authentication process for online ordering, SentroPay to automate online payment via an
automated outbound IVR pay-over-the phone payment solution and Sentropi 360 to detect fraud in organizaton
operating in card-not-present environments.. Listed as fast track TLV finalist by StartupbootCamp.
$40K Start-Up Chile
Easy Solutions [Doral, 2007]: Easy Solutions Total Fraud Protection platform provides detection and prevention
of electronic fraud across all devices, channels and clouds. Provides products for Fraud intelligence and secure
browsing, Anomaly Transaction Detection, Anti-phishing, Anti-pharming, Man-in-the-middle and man-in-the-
browser protection, client-less malware detection, Mobile Fraud Protection and Multifactor/Multichannel
Authentication like cloud, email, strong& mobile. Awarded with Silver (Email Security and Management) and
Total Fraud Protection Platform, its flagship multi-layered prevention and detection solution, won a Bronze
Award (Fraud Prevention) at Global Excellence Award, 2015
$14.2M
Medina Capital, Promotora de
Proyectos

Anti Fraud (4/30)
Anti
Fraud
Application
Security
BYOD
Security
Cloud
Security
Data Security
Database
Security
Email
Security
Endpoint
Security
IAM
Industrial
Security
IoT Security
Network
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Analytics
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Threat
Intelligence
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Security

Anti Fraud (5/30)
Anti
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Application
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BYOD
Security
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Data Security
Database
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Security
Endpoint
Security
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Industrial
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IoT Security
Network
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Anti Fraud (6/30)
Anti
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Security
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Security
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Endpoint
Security
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Industrial
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IoT Security
Network
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Threat
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Anti Fraud (7/30)
Anti
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Application
Security
BYOD
Security
Cloud
Security
Data Security
Database
Security
Email
Security
Endpoint
Security
IAM
Industrial
Security
IoT Security
Network
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Analytics
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Threat
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Security

Anti Fraud (8/30)
Anti
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Application
Security
BYOD
Security
Cloud
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Data Security
Database
Security
Email
Security
Endpoint
Security
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Industrial
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IoT Security
Network
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Analytics
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Threat
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Anti Fraud (9/30)
Anti
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Application
Security
BYOD
Security
Cloud
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Data Security
Database
Security
Email
Security
Endpoint
Security
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Industrial
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IoT Security
Network
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Anti Fraud (10/30)
Anti
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Application
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BYOD
Security
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Data Security
Database
Security
Email
Security
Endpoint
Security
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Industrial
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IoT Security
Network
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Threat
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Anti Fraud (11/30)
Anti
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Application
Security
BYOD
Security
Cloud
Security
Data Security
Database
Security
Email
Security
Endpoint
Security
IAM
Industrial
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IoT Security
Network
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Analytics
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Threat
Intelligence
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Security

Anti Fraud (12/30)
Anti
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Application
Security
BYOD
Security
Cloud
Security
Data Security
Database
Security
Email
Security
Endpoint
Security
IAM
Industrial
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IoT Security
Network
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Analytics
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Threat
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Security

Anti Fraud (13/30)
Anti
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Application
Security
BYOD
Security
Cloud
Security
Data Security
Database
Security
Email
Security
Endpoint
Security
IAM
Industrial
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IoT Security
Network
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Threat
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Anti Fraud (14/30)
Anti
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Application
Security
BYOD
Security
Cloud
Security
Data Security
Database
Security
Email
Security
Endpoint
Security
IAM
Industrial
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IoT Security
Network
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Analytics
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Threat
Intelligence
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Security

Anti Fraud (15/30)
Anti
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Application
Security
BYOD
Security
Cloud
Security
Data Security
Database
Security
Email
Security
Endpoint
Security
IAM
Industrial
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IoT Security
Network
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Analytics
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Threat
Intelligence
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Security

Anti Fraud (16/30)
Anti
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Application
Security
BYOD
Security
Cloud
Security
Data Security
Database
Security
Email
Security
Endpoint
Security
IAM
Industrial
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IoT Security
Network
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Analytics
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Threat
Intelligence
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Security

Anti Fraud (17/30)
Anti
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Application
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BYOD
Security
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Database
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Email
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Endpoint
Security
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Industrial
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IoT Security
Network
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Anti Fraud (18/30)
Anti
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Application
Security
BYOD
Security
Cloud
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Data Security
Database
Security
Email
Security
Endpoint
Security
IAM
Industrial
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IoT Security
Network
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Threat
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Security

Anti Fraud (19/30)
Anti
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Application
Security
BYOD
Security
Cloud
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Data Security
Database
Security
Email
Security
Endpoint
Security
IAM
Industrial
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IoT Security
Network
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Analytics
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Threat
Intelligence
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Security

Anti Fraud (20/30)
Anti
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Application
Security
BYOD
Security
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Data Security
Database
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Endpoint
Security
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Industrial
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Network
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Anti Fraud (21/30)
Anti
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Application
Security
BYOD
Security
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Data Security
Database
Security
Email
Security
Endpoint
Security
IAM
Industrial
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IoT Security
Network
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Analytics
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Threat
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Anti Fraud (22/30)
Anti
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Application
Security
BYOD
Security
Cloud
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Data Security
Database
Security
Email
Security
Endpoint
Security
IAM
Industrial
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IoT Security
Network
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Analytics
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Anti Fraud (23/30)
Anti
Fraud
Application
Security
BYOD
Security
Cloud
Security
Data Security
Database
Security
Email
Security
Endpoint
Security
IAM
Industrial
Security
IoT Security
Network
Security
Security
Analytics
Server
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Threat
Intelligence
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Anti Fraud (24/30)
Anti
Fraud
Application
Security
BYOD
Security
Cloud
Security
Data Security
Database
Security
Email
Security
Endpoint
Security
IAM
Industrial
Security
IoT Security
Network
Security
Security
Analytics
Server
Security
Suite
Threat
Intelligence
Website
Security

Anti Fraud (25/30)
Anti
Fraud
Application
Security
BYOD
Security
Cloud
Security
Data Security
Database
Security
Email
Security
Endpoint
Security
IAM
Industrial
Security
IoT Security
Network
Security
Security
Analytics
Server
Security
Suite
Threat
Intelligence
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Security

Anti Fraud (26/30)
Anti
Fraud
Application
Security
BYOD
Security
Cloud
Security
Data Security
Database
Security
Email
Security
Endpoint
Security
IAM
Industrial
Security
IoT Security
Network
Security
Security
Analytics
Server
Security
Suite
Threat
Intelligence
Website
Security

Anti Fraud (27/30)
Anti
Fraud
Application
Security
BYOD
Security
Cloud
Security
Data Security
Database
Security
Email
Security
Endpoint
Security
IAM
Industrial
Security
IoT Security
Network
Security
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Analytics
Server
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Threat
Intelligence
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Security

Anti Fraud (28/30)
Anti
Fraud
Application
Security
BYOD
Security
Cloud
Security
Data Security
Database
Security
Email
Security
Endpoint
Security
IAM
Industrial
Security
IoT Security
Network
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Analytics
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Threat
Intelligence
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Security

Anti Fraud (29/30)
Anti
Fraud
Application
Security
BYOD
Security
Cloud
Security
Data Security
Database
Security
Email
Security
Endpoint
Security
IAM
Industrial
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IoT Security
Network
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Analytics
Server
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Threat
Intelligence
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Anti Fraud (30/30)
Anti
Fraud
Application
Security
BYOD
Security
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Data Security
Database
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Endpoint
Security
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Industrial
Security
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