Predict your next investment

COMPUTER HARDWARE & SERVICES | IT Services / Data Storage & Security
portshift.io

See what CB Insights has to offer

Founded Year

2018

Stage

Acquired | Acquired

Total Raised

$5.3M

Valuation

$0000 

About Portshift

Portshift has developed a Kubernetes-native security platformne that aims to allow developers to deploy applications efficiently and with speed as security is built-into the deployment rather than layered on after. The solution offers continuous security from code to run-time.On October 1, 2020, Portshift was acquired by Cisco at a valuation of $100M.

Portshift Headquarter Location

Totseret ha-Arets St 7

Tel Aviv, 6789104,

Israel

Latest Portshift News

2020 Cybersecurity Acquisitions

Mar 29, 2021

2020 Cybersecurity Acquisitions 123rf An excerpt from Security Yearbook 2021: A History and Directory of the IT Security Industry. Pre-order here . Nine percent of the cybersecurity industry was in motion in 2020. There were 225 acquisitions of cybersecurity companies according to data provided by AGC Partners, an advisory firm for these types of transactions and the host of the big AGC Partners’ Information Security & Broader Technology Growth Conference every year in San Francisco prior to the RSA Conference. Seventy-two out of the 225 acquisitions in 2020 were by private equity (PE) firms. PE has been part of the security ecosystem for over twenty years. Some of the more well-known firms are Thoma Bravo, Francisco Partners, Vulcan Ventures, and lately, Insight Partners and Symphony Technology Group. Think of PE as big financial firms that make big bets. They often take public companies private with an eye to improving operations, rationalizing products, and perhaps adding to capabilities by engaging in more acquisitions. Sometimes they will split a company up into its component parts and sell off some of them. They then flip the company to other investors or take it public again. The large transactions to take a public company private, usually in the billions of dollars, often entail raising the funds to do so by offering debt for sale in the form of bonds. They also drain the company’s cash reserves to fund the acquisition or to service that debt. Strategic acquisitions by existing companies have represented the bulk of M&A activity over the years. Large companies like McAfee, Symantec, CA, Check Point, and Cisco would make strategic moves to gain a product category. In the ideal situation the acquirer takes the products of its new acquisition and immediately has success selling them to their existing customers. Quite often an acquisition by one strategic buyer will set off a buying frenzy as their competitors rush to get into the same business. Symantec, CA, and McAfee no longer play a big part in M&A, having gone through their own gyrations. Check Point and Cisco are still in the game, while Palo Alto Networks continues to make strategic acquisitions. Cisco is still digesting the large acquisitions it has made over the years, including Sourcefire, Lancope, and OpenDNS. Every traditional vendor is struggling to have competitive offerings to protect cloud infrastructure, so look for activity in the cloud configuration and workload protection space in 2021. The newest big strategic buyer is VMware. Starting with the acquisition of Carbon Black in 2019, it has also acquired Octarine, Lastline, and SaltStack this past year. MORE FOR YOU Analysis of Key Deals Below are a number of noteworthy deals made in 2020. Most deal sizes are not reported and thus hard to track, although industry scuttlebutt soon reveals numbers. Q1 2020 Deals Segasec In early January, Mimecast, a publicly traded email security vendor, announced the acquisition of Segasec, which monitors domain activity to identify unusual behavior. When integrated with Mimecast’s core product, this will give them the ability to alert on or block email arriving from suspicious domains. Segasec had 26 employees when the transaction occurred. Armis, one of the biggest IoT security vendors, had 263 employees when Insight Partners acquired them for a reported $1.1 billion valuation. True to Insight’s past record with Recorded Future, they have continued to invest and grow Armis, which had 372 employees at the end of 2020, a 41% growth rate. Avnet Data Security, an Israeli services firm, was acquired by Rockwell Automation to enhance its security services business. Avnet specialized in assessing the security of industrial systems. Tinfoil Security Synopsys, one of the largest vendors of software assessment tools and services, acquired Mountain View–headquartered Tinfoil Security for its DAST (dynamic application security testing) and Application Program Interface (API) security testing solutions. Tinfoil had 15 employees when the deal was announced on January 9, 2020. Fidelis Cybersecurity Solutions Skyview Capital announced the acquisition of Fidelis in January of 2020. It had 281 employees at the time and was down 50 by the close of 2020. The Fidelis Elevate platform provides security analytics and is being marketed as an XDR product. Industrial Defender [Capgemini America] Industrial Defender was one of the first vendors to focus on IoT security, specifically for industrial control systems (ICS). Industrial Defender was originally acquired by Lockheed Martin in 2014. In 2018 Capgemini acquired Leidos Cyber, the new name for Industrial Defender, from Lockheed. In late January, Capgemini sold Industrial Defender to Teleo Capital Management for an undisclosed amount. As a newly independent company, Industrial Defender has 49 employees. RSA Security, Inc. The saga of RSA Security continues. The original RSA Data Security was formed in 1982 to commercialize the first public key cryptography libraries invented by Ron Rivest, Adi Shamir, and Leonard Adleman. It was acquired by Security Dynamics, the maker of SecurID tokens, in 1996 and the acquirer assumed the name of RSA Security. In September 2006, RSA Security was acquired by EMC for $2.1 billion. Under EMC, RSA made many acquisitions, including Amit Yoran’s NetWitness in April 2011. In 2016, EMC was acquired by Michael Dell and RSA Security became part of the Dell EMC Infrastructure Solutions Group. In February 2020, Dell announced that RSA security would be sold to PE firm Symphony Technology Group for $2.075 billion. Before the transaction was completed in September 2020, RSA transferred ownership of the core BSAFE libraries to Dell along with the associated customer contracts. RSA Security grew slightly during the first three quarters of 2020 from 3,161 to 3,172 employees. It dropped 100 people after the sale to Symphony, probably attributable to the BSAFE team staying with Dell. Forescout Technologies was taken private by Advent International with additional backing from Crosspoint Capital Partners. The deal, announced February 6, 2020, was valued at $1.9 billion. At the time Forescout had 1,133 employees. That number dropped to 1,007 by the end of the year. After the pandemic hit, Advent got cold feet and tried to back out of the deal. Finally on July 15, 2020, the two parties came to new terms of about $1.67 billion. Forescout was founded in 2000 and went to market as an enhanced IDS. The concept was that an attacker would probe a network for vulnerabilities and therefore suspicious connection requests from those IP addresses would be real attacks, hence the name. It evolved its technology as the concept of Network Admission Control gained popularity and went public in 2017 at an $800 million valuation. Forescout continues to announce new partnerships and customer wins for its Network Access Control, IoT device management, and micro-segmentation products. CyGlass In February 2020, Nominet made its first acquisition, CyGlass, a cloud-based network behavior analysis (NBAD) and alerting service. Nominet has been responsible for the UK’s domain registry for decades and started to market itself as a cybersecurity company in 2020 providing threat intelligence derived from the vast quantities of DNS queries they see. [Nominet was in the news recently as four of its directors were voted out by stake holders. The CEO resigned ahead of the vote.] Panda Security, the AV company based in Spain, was finally acquired by UTM appliance vendor WatchGuard Technologies. The deal was announced in March and consummated in June. WatchGuard is owned by PE firms Francisco Partners and Vector Capital. Panda was owned by Investing Profit Wisely (IPW), an investment firm based in Spain. The history of strategic investments is littered with failed acquisitions of endpoint security solutions by network security companies, and vice versa. Q2 2020 Deals KeyNexus, Inc. StorMagic, a UK-based storage solution provider, acquired KeyNexus in April 2020. KeyNexus provided an encryption key management product. Its UKM has been rebranded as StorMagic SvKMS. KeyNexus had ten employees at the time of acquisition. DivvyCloud Rapid7 announced the intent to acquire DivvyCloud on April 28, 2020. DivvyCloud is a Cloud Security Posture Management company. Purchase price was $145 million for the company, which had 72 employees at the time (80 at the end of 2020). Keybase, Inc. At the beginning of the COVID-19 pandemic, the recently public Zoom was criticized for some basic security failings. Keybase was its first acquisition ever. Keybase provided the technology to enable end-to-end encryption for Zoom video calls. It had 25 employees at the announcement. PKWARE, Inc. Thompson Street Capital Partners (TSCP), a private equity firm based in St. Louis, announced in May 2020 that they had acquired PKWARE, a Milwaukee-based endpoint data encryption company. PKWARE was one of the oldest security companies, founded in 1986. They created the compressed file format ZIP. PKWARE started 2020 with 142 employees. That number had dropped to 117 at the time of the acquisition. Even though PKWARE went on to acquire Dataguise, a data discovery company, in October, its total employment at the end of 2020 was 98. Cytegic Ltd. Mastercard acquired Cytegic for its risk posture assessment capability in May. It had 20 employees in April 2020. Edgewise Networks Zscaler made a rare acquisition of Edgewise Networks in May to enhance its application-to-application communications security. Edgewise had 27 employees in April 2020. Lastline VMware announced the acquisition of Lastline in June 2020. Lastline was an innovator in cloud-based honeypots for extracting indicators of compromise (IoC). It had been pivoting to a Network Detection and Response (NDR) provider. Lastline had grown to 158 employees by April 2020. Finjan Holdings, Inc. [NASDAQ: FNJN] Publicly traded Finjan was acquired by an investment group in a deal valued at $43.9 million, announced in June 2020. Finjan has a storied past. Founded in 1997 in Israel with technology that could be used to counter modern viruses (so-called polymorphic) and DRM technology, it pivoted several times and was ultimately acquired by M86 Security in 2009. It finally ended up as part of a portfolio of products at Trustwave, an MSSP in Chicago. Trustwave was in turn acquired by Singtel in 2015. Meanwhile, Finjan Holdings maintained ownership of Finjan’s patent portfolio. Its business model is to engage in lawsuits against other security technology companies, forcing them to pay licensing fees. This model was successful enough to go public in 2013. Now that it has been taken private by Fortress Investment Group LLC it will continue to be a thorn in the side of any cybersecurity company it deems to be infringing on its patents. CyberX, Inc. Microsoft announced June 22 that it was acquiring CyberX, an IoT security company with 162 employees at the time. CyberX developed a network behavior analysis solution for OT networks. Microsoft claims that CyberX will enhance its Azure Sentinel cloud-based SIEM. Integris Software, Inc. In an extremely rare acquisition that could be termed consolidation, OneTrust announced the acquisition of competitor Integris Software at the end of June. Both companies facilitate compliance with privacy regulations such as GDPR with data discovery technology. Q3 2020 Deals OPAQ Networks, Inc. Fortinet acquired OPAQ Networks in July. Fortinet does not make big acquisitions, often looking to acquire patent portfolios. OPAQ was a pioneer in the zero trust space. OPAQ had 68 employees. Signal Sciences Content delivery network (CDN) provider Fastly announced the acquisition of Signal Sciences' technology, which it plans to add to its Compute@Edge platform, at the end of August. Signal Sciences developed bot mitigation and API security controls. Signal Sciences had 160 employees. MobileIron (NASDAQ: MOBL) MobileIron entered into an agreement to be acquired by Ivanti in September. The deal was valued at $872 million and was announced along with the acquisition of Pulse Secure. MobileIron is a device security management company. Founded in 2007 by Ajay Mishra and Suresh Batchu, MobileIron went public in 2014. It had 965 employees at the time of the acquisition. Ivanti continues to grow by acquisition. At the end of 2020 it had 2,469 employees. Pulse Secure, LLC was acquired from Siris Capital Group, LLC to add to Ivanti’s portfolio in a deal announced September 28. Juniper Networks’ VPN product, Junos Pulse, was spun out to Siris in 2014 for a reported $250 million. Siris went on to refactor it into a zero trust network access (ZTNA) product under the new name of Pulse Secure. It had 652 employees at the announcement. Awake Security Arista Networks, a leading SD-WAN company, made a rare move into security with the acquisition of network detection and response startup Awake Security, which had 91 employees at the time of acquisition. SaltStack VMware announced the acquisition of SaltStack at the end of September. SaltStack provides configuration and automation tools for cloud-based apps. SaltStack had 104 employees at the time of the announcement. jSonar, Inc. Imperva is beefing up its database security offerings with the cloud database security technology of jSonar. Ron Bennatan, founder of both jSonar and Guardium, will stay at Imperva to head up its data security portfolio. Preempt Security, Inc. CrowdStrike, the endpoint detection and response company, announced it was acquiring Preempt in September for $96 million. Preempt developed conditional access control technology, often called zero trust. It had 72 employees. Q4 2020 Deals Portshift Ltd. At the beginning of October Cisco announced the acquisition of Portshift, an identity access control solution for kubernetes containers. According to TechCrunch reporting, the deal was valued at $100 million. Portshift had raised $5.3 million from Israeli venture firm Team8. Both Cisco and Microsoft are investors in Team8. Portshift had grown from 12 to 16 employees in 2020. Cyveillance, Inc. [LookingGlass Cyber Solutions, Inc.] Boston-based ZeroFOX announced the acquisition of Cyveillance from LookingGlass Cyber at the end of October. Cyveillance is one of the oldest threat intelligence subscription services. It was acquired by LookingGlass in 2015. Based on the change in number of employees at both companies, about 64 people went to ZeroFOX from LookingGlass. Forcepoint has taken a long and winding trail. It was formed when Raytheon, the defense contractor, attempted to move into the cybersecurity realm by acquiring Websense. Websense was one of the first content URL filtering products. It went public in 2000. As that business started to become subsumed by UTM vendors, Websense entered the DLP market with the acquisition of PortAuthority. It also acquired SurfControl and Defensio. Vista Equity Partners then acquired Websense in 2013 for $906 million. Raytheon paid $1.9 billion for an 80% stake in Websense in April 2015. It was then called Raytheon|Websense. Raytheon continued acquiring technologies including both Stonesoft and Sidewinder, network firewalls that had ended up in the hands of Intel after they acquired McAfee, which had in turn acquired them when they bought Secure Computing. In January 2016 the entity was spun off from Raytheon and branded Forcepoint. In 2017 it acquired Skyfence, a cloud access security broker (CASB) product from Imperva. Raytheon purchased Vista Equity’s remaining Forcepoint stake in January 2020 for $588 million and then announced in October that it was selling the whole company to another private equity firm, Francisco Partners. Dataguise, Inc. After its acquisition by Thompson Street Capital Partners, PKWARE is folding in additional tool sets. It announced the acquisition of data discovery company Dataguise on November 10. Dataguise had 176 employees at the time, while PKWARE had only 98. Expanse, Inc. In November, Palo Alto Networks, the hardware appliance vendor, announced its intent to acquire Expanse for $800 million. With 176 employees, Expanse was gaining traction for its cloud-based tool that discovers and manages internet-facing assets wherever they reside. Expanse changed its name from Qadium in 2018. DomainTools Although billed as a strategic investment, there are indications that a majority interest was acquired in DomainTools by Battery Ventures. Battery, in addition to its VC activity, engages in private equity investment. Indeed, DomainTools’ board now consists of three PE people from Battery and the founder/CEO. DomainTools had 117 employees at the end of 2020. Venafi, Inc. Thoma Bravo made a large investment in Venafi at the end of 2020, valuing the company at $1.15 billion. Venafi provides key management services including key discovery. White Ops In the last week of December, White Ops was acquired by a group led by Goldman Sachs Merchant Banking division and included ClearSky Security and NightDragon. White Ops, a fraud prevention company, had 166 employees at the end of the year. Follow me on  LinkedIn . Check out my  website .

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Expert Collections containing Portshift

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Portshift is included in 2 Expert Collections, including 2019 Cyber Defenders.

2

2019 Cyber Defenders

28 items

Our selected startups are early- to mid-stage high-momentum companies pioneering technology with the potential to transform cybersecurity.Unicorns valued at $1B+, companies that have raised funding past the Series C stage, and companies that have not raised funding since 2017 are

C

Cybersecurity

4,682 items

Portshift Patents

Portshift has filed 2 patents.

The 3 most popular patent topics include:

  • Cloud computing
  • Cloud platforms
  • Cryptographic hash functions
patents chart

Application Date

Grant Date

Title

Related Topics

Status

3/6/2020

Cryptographic hash functions, Cryptography, Cloud platforms, Cloud computing, Key management

Application

00/00/0000

00/00/0000

Subscribe to see more

Subscribe to see more

Subscribe to see more

Application Date

3/6/2020

00/00/0000

Grant Date

00/00/0000

Title

Subscribe to see more

Related Topics

Cryptographic hash functions, Cryptography, Cloud platforms, Cloud computing, Key management

Subscribe to see more

Status

Application

Subscribe to see more

Portshift Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
CBI Logo

Portshift Rank

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.