10 Hot Startups That Raised VC Funding In May

Follow The Money

In a month that saw the outbreak of the massive WannaCry cyberattack, up-and-coming cybersecurity vendors were doing more than just fighting ransomware -- a number of them were also hauling in new funding. Our list of the top 10 IT industry funding announcements in May includes deals for seven companies operating in the cybersecurity realm. Notably, two of those companies offers security solutions focused on IoT. Outside of security, our list also includes venture capital deals for companies working in networking, data management and analytics.

What follows are our picks for 10 IT startups to watch that raised VC funding in May.

128 Technology

Headquarters: Burlington, Mass.

CEO: Andy Ory

Funding: $21.5 million, Series C

Investors: G20 Ventures, investments from 128 Technology executives and employees

What it does: Developer of the 128T Networking Platform, a software-based, distributed routing and network services solution sold as a monthly subscription.

Attivo Networks

Headquarters: Fremont, Calif.

CEO: Tushar Kothari

Funding: $15 million, Series B

Investors: Omidyar Technology Ventures, Bain Capital Ventures, Trident Capital Cybersecurity, Macnica Ventures

What it does: Offers deception technology to detect, investigate and help remediate attacks already inside a network.


Headquarters: Irvine, Calif.

CEO: George Kurtz

Funding: $100 million, Series D

Investors: Accel Partners (led the round), March Capital Partners, Telstra

What it does: Provider of cloud-delivered endpoint protection; Crowdstrike Falcon brings together next-gen antivirus with endpoint detection, response and managed threat hunting into a single agent.


Headquarters: Waltham, Mass.

CEO: Neal Creighton

Funding: $20 million, Series D

Investors: Singtel Innov8 (led the round), SAP National Security Services

What it does: Offers an endpoint threat platform that combines threat context, organizational resiliency and broad visibility.

Datos IO

Headquarters: San Jose, Calif.

CEO: Tarun Thakur

Funding: Amount not disclosed

Investors: Cisco Investments, NetApp

What it does: Developer of application-centric data management technologies, for managing copies of data across multi-cloud and hybrid cloud environments.


Headquarters: Santa Clara, Calif.

CEO: Ron Victor

Funding: $8.4 million, Series A

Investors: March Capital Partners and GE Ventures (led the round), OpenSource Ventures, Juniper Networks, former Cisco chief development officer Pankaj Patel

What it does: Offers industrial Internet of Things solutions aimed at securing network infrastructure for manufacturing operations.

Mocana Corp.

Headquarters: San Francisco

CEO: William Diotte

Funding: $11 million

Investors: Sway Ventures, Shasta Ventures, Trident Capital Fund, GE Ventures

What it does: Provider of security for IoT, including for industrial control systems and smart connected devices.


Headquarters: Menlo Park, Calif.

CEO: Varun Badhwar

Funding: $12 million

Investors: Sierra Ventures, Storm Ventures, Dell Technologies Capital

What it does: Offers a cloud security solution that aims to provide visibility, monitoring and control over public cloud infrastructure.


Headquarters: Cambridge, Mass.

CEO: Andy Palmer

Funding: Amount not disclosed

Investors: GE Ventures

What it does: Developer of data unification technology, used to bring together data from a large number of sources for improved analytics.


Headquarters: San Francisco

CEO: Eldar Tuvey

Funding: $27.5 million, Series C

Investors: Sapphire Ventures (led the round), Bessemer Venture Partners, 83North

What it does: Offers a gateway solution for protection of enterprise mobility initiatives.