While the number of cybersecurity funding deals reached a high point in 2022, that doesn’t mean that the sector’s tapped out — far from it. According to Statista, there were 148 deals in Q2 2023 worth a combined $1.6 billion.
And — at least anecdotally — Q3 deal flow seems healthy, too. Case in point, Xage Security, a startup providing software to thwart network intrusions, today announced that it raised $20 million in a B2 funding round that brings the company’s total raised to $80 million.
Piva Capital, March Capital, SCF Partners, Overture Climate Fund, Valor Equity Partners, Chevron Technology Ventures and Science Applications International Corporation participated in Xage’s B2. A source familiar with the matter tells TechCrunch that the pre-money valuation is roughly 60% higher than Xage’s pre-money as of January 2022, when the company initially closed its Series B.