Security News

10 Cool Tech Companies That Raised Funding In May 2022

Rick Whiting

Next-generation technology developers in identity and data protection, API security, mobile device management, machine learning development, data observability and data analytics reported new rounds of funding.

Follow The Money 

Despite growing concerns about the state of the economy, IT startups—particularly those in the cybersecurity and big data sectors—continue to attract significant amounts of venture funding from private equity companies and other sources.

Semperis, which develops an identity-driven threat detection and response cybersecurity platform, topped the list of startups that raised funding in May with an impressive $200 million Series C funding round.

Right behind Semperis with a $196 million Series B funding round was Mosyle, a company that offers mobile device management tools and is gaining attention in the Apple device management space.

Startups developing big data technology dominate the May list. Cribl and Monte Carlo, both startup developers of data observability systems, raised $150 million and $135 million, respectively. They were followed by business analytics software vendor Pyramid Analytics, which raised $120 million, and streaming data analytics tech developer Imply Data, which raised $100 million.

Startup OtterTune, a provider of next-generation database performance and optimization software, reported raising $12 million in May. Concentric AI raised $14.5 million to accelerate development of its technology for protecting business-critical data.

Traceable AI, a developer of API security technology, raised $60 million in May. And machine learning startup Predibase—which just exited stealth—received $16.25 million in Seed and Series A funding from investors.

Here’s a detailed look at the companies that reported new rounds of funding in May.