10 Cybersecurity Companies Making Moves: March 2024

We’re taking a look at security vendors that unveiled acquisitions and executive changes, announced funding rounds or launched notable new products in March.

We’re taking a look at security vendors that recently unveiled acquisitions and executive changes, announced funding rounds or launched notable new products.

What follows are the details on 10 cybersecurity companies that announced major moves in March 2024.

Cisco

Cisco Systems completed its $28 billion acquisition of Splunk in a move to combine the two companies’ cybersecurity and observability strengths and create what company executives have described as a distinctive, AI-powered data platform.

Cisco CEO Chuck Robbins told CRN that with the addition of Splunk, “we just improved our position in the security world, so for customers who want to run platform-based secure networking infrastructure, we're going to have the right answer.”

“I bet if you ask the customer: 'If you had to prioritize security, or some AI driven dashboard’ they’re going to choose security all day long. And I think that's the differentiation that we have,” Robbins said.

AWS

Gee Rittenhouse departed as CEO of Skyhigh Security to head the enterprise security business at Amazon Web Services.

In a LinkedIn post, Rittenhouse, formerly a longtime Cisco Security executive, said that at AWS he is looking forward to “solving our customer’s hardest security challenges.”

Skyhigh Security

Following the departure of Rittenhouse, Skyhigh Security hired the former CEO of Snow Software, Vishal Rao, as its new chief executive.

Rao brings experience from more than two decades in cloud and SaaS companies, including executive roles at Cloudera and Splunk prior to becoming Snow Software CEO in 2019.

SentinelOne

Brian Lanigan, a veteran of channel-focused roles at companies including Lacework and Splunk, joined SentinelOne as senior vice president of global partner ecosystems.

Lanigan had most recently been vice president of worldwide channel and alliances at Lacework, a role he took on in March 2022. Earlier, he had spent nearly nine years at Splunk, including as a group vice president for its system integrator and MSP business.

Zscaler

Zscaler announced its acquisition of Avalor, a startup offering a “security-centric data fabric” that will be integrated into the company’s Zero Trust Exchange platform.

Avalor offers “150 pre-built integrations enabling customers to proactively identify and predict critical vulnerabilities as well as improve operational efficiencies,” Zscaler said in a news release.

Terms of the deal weren’t disclosed, but earlier reports suggested the acquisition price for Avalor would be between $250 million and $350 million.

CrowdStrike

CrowdStrike announced it will acquire a data security posture management (DSPM) startup, Flow Security, an Israel-based company founded in 2021. Terms of the acquisition weren’t disclosed.

Flow Security stands out as “the industry’s first and only cloud data runtime security solution,” CrowdStrike Co-founder and CEO George Kurtz said during the company’s quarterly call with analysts.

Axonius

Axonius announced raising $200 million in an extension to its Series E funding round as the company looks toward startup acquisitions and further investment into its work with channel partners, Co-Founder and CEO Dean Sysman told CRN.

The cybersecurity asset management vendor raised the funding at the same valuation as during its prior round, $2.6 billion, Sysman said. It was led by Accel and Lightspeed Venture Partners.

Claroty

Cyber-physical systems protection vendor Claroty announced raising a growth funding round of $100 million from a number of investors.

In addition to continuing to support R&D efforts, the funding will allow the company to “double down” on partnerships and scale its business in “key verticals including the public sector and heavily regulated critical infrastructure industries,” the vendor said in a news release.

Nozomi Networks

Nozomi Networks announced it has landed a $100 million series E round of funding with plans to scale product development and go-to-market efforts.

Nozomi, an operational technology and connected devices security vendor, received the funding from Mitsubishi Electric and Schneider Electric as part of the round.

Coro

Coro plans to invest heavily in its channel program in connection with its newly announced $100 million Series D funding round led by One Peak.

The provider of an “all-in-one” security platform for SMB and mid-market customers expects to unveil a revamped partner program in coming months with numerous upgrades for solution and service providers, according to Dror Liwer, co-founder and CMO of Coro.