10 Hot Startups That Raised VC Funding In February
Follow The Money
The Internet of Things and cybersecurity were leading themes for startup funding rounds in the second month of 2018. Three of the 10 companies making our February VC list specialize in IoT-related technologies, while four of the startups are focused on cybersecurity (one company, CyberX, cuts across both categories). Other funding rounds went to up-and-coming players in storage, networking and DevOps technologies.
What follows are our picks for 10 IT startups to watch that raised new funding in February.
Cloudian
Headquarters: San Mateo, Calif.
CEO: Michael Tso
Funding: $25 million
Investors: Digital Alpha
What it does: Developer of scalable enterprise object storage technology; offerings include HyperStore 7, a multi-cloud controller that lets customers scale their storage environments from on-premises to the cloud via a single management framework
CyberX
Headquarters: Framingham, Mass.
CEO: Omer Schneider
Funding: $18 million, Series B
Investors: Norwest Venture Partners (led the round), Glilot Capital Partners, Flint Capital, ff Venture Capital, OurCrowd
What it does: Offers the XSense industrial cybersecurity platform, which provides network monitoring, anomaly detection and threat intelligence for securing industrial operations and reducing downtime
Dover Microsystems
Headquarters: Waltham, Mass.
CEO: Jothy Rosenberg
Funding: $6 million
Investors: Hyperplane Venture Capital (led the round), Draper, Qualcomm Ventures, Hub Angels Investment Group
What it does: Maker of the CoreGuard security solution, which enables hardware to enforce security policies as way to protect processors and embedded systems against network-based attacks
InfluxData
Headquarters: San Francisco
CEO: Evan Kaplan
Funding: $35 million, Series C
Investors: Sapphire Ventures (led the round), Harmony Partners, Battery Ventures, Mayfield Fund, Trinity Ventures
What it does: Enables the development of monitoring, analytics and IoT applications with its open-source platform for analyzing time series data such as metrics and events
Losant
Headquarters: Cincinnati
CEO: Charlie Key
Funding: $5.2 million, Series A
Investors: CincyTech (led the round), Rise of the Rest, TechNexus, Vine Street Ventures
What it does: Offers an enterprise IoT platform that aims to simplify the creation of connected solutions using open communication standards and features such as data collection, aggregation and visualization
Mist Systems
Headquarters: Cupertino, Calif.
CEO: Sujai Hajela
Funding: $46 million, Series C
Investors: Kleiner Perkins Caufield & Byers (led the round), Lightspeed Venture Partners, Norwest Venture Partners, GV, NTT Docomo Ventures, Dimension Data
What it does: Combines cloud-based wireless and artificial intelligence to create intelligent networks and Bluetooth Low Energy (BLE), location-based solutions for enterprise customers
Morphisec
Headquarters: Beer-Sheva, Israel
CEO: Ronen Yehoshua
Funding: $12 million, Series B
Investors: Orange Digital Ventures, Jerusalem Venture Partners, General Electric, Deutsche Telekom
What it does: Offers endpoint threat prevention through its Moving Target Defense technology, which specializes in stopping attacks such as advanced persistent threat, zero-day and ransomware
SaltStack
Headquarters: Lehi, Utah
CEO: Marc Chenn
Funding: $15.5 million, Series A
Investors: Mercato Partners (led the round), Peak Capital, Epic Ventures, Deep Fork Capital
What it does: Provides an event-driven automation platform for security compliance, cloud infrastructure control and configuration management for application environments and data centers
Vectra
Headquarters: San Jose, Calif.
CEO: Hitesh Sheth
Funding: $36 million, Series D
Investors: Atlantic Bridge (led the round), Ireland Strategic Investment Fund, Nissho Electronics Corp., Khosla Ventures, Accel Partners, IA Ventures, AME Cloud Ventures, DAG Ventures, Wipro Ventures
What it does: Offers the Cognito platform, which uses artificial intelligence to perform automated threat hunting that aims to quickly uncover hidden and unknown attackers
XebiaLabs
Headquarters: Burlington, Mass.
CEO: Derek Langone
Funding: $100 million, Series B
Investors: Susquehanna Growth Equity, Accel
What it does: The company's flagship platform, XebiaLabs DevOps, provides intelligence, automation and control for continuous delivery at enterprise scale