Venture capital deployed · 2026 YTD
Sector market cap
Largest raise · trailing 12mo
Catalysts ahead · next 12mo
Companies tracked
Nothing on the calendar yet.
Nothing on the calendar yet.
Mega-rounds dominate the recent record: Cyera raised $600M in June 2026 at $12.0B, Saviynt $700M in December 2025, and Armadin $256M in October 2026. Seed and Series A rounds stay small, such as Prophet Security's $30M and Endor Labs' $25M seed.
Late-stage capital concentrates the money. Cyera alone took three large rounds across Series E, F, and G from 2025 to 2026, and Island raised Series E and F at $4.8B and $6.4B. Early-stage deals are sparse, with only a handful of Series A and seed checks since 2025.
Evolution Equity Partners led Torq's Series D and Cyera's Series G, and Andreessen Horowitz and Accel co-led Armadin. Blackstone and KKR entered with large checks into Cyera and Saviynt, signaling private-equity interest. Longtime growth investors such as Lightspeed and Sequoia appear less often in the 2025–2026 rounds on file.
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Cybersecurity’s platform race is leaving attackers room to exploit the seams.
As of 2026-08-01
Wiz did not fail; it was absorbed into a larger parent. In March 2025 Google agreed to buy the company for about $32 billion in cash, the largest acquisition in Google's history and the biggest-ever purchase of a venture-backed startup. The transaction went through a 12-month global regulatory review and was unconditionally cleared in the U.S., the EU and several other jurisdictions, then closed in March 2026. On closing, Wiz ceased to exist as an independent company and joined Google Cloud, where its agentless CNAPP technology was integrated into Google's security portfolio.
Lacework raised more than $1.8 billion and reached a peak valuation of about $8.3 billion in November 2021, but the cloud-security market reset and slowing growth forced layoffs and a steep markdown in its value over the following two years. After exploring a sale, in June 2024 Fortinet agreed to acquire the company for undisclosed terms widely reported as a small fraction of its peak valuation, a fire sale relative to the money invested. The deal closed on August 1, 2024, and Lacework's CNAPP technology was integrated into the Fortinet Security Fabric and rebranded FortiCNAPP, ending Lacework as an independent company.
Splunk did not fail; it was acquired and absorbed. In September 2023 Cisco agreed to buy the company for $157 per share in cash, roughly $28 billion in equity value, the largest acquisition in Cisco's history. The deal cleared antitrust review without conditions and closed on March 18, 2024. On closing Splunk ceased trading as an independent public company and was integrated into Cisco's security and observability portfolio, where its SIEM and machine-data platform became central to Cisco's strategy of unifying networking and security data.