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.


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


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


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


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


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


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


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


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