Aquatic safetyan Israeli cybersecurity startup that helps companies protect their cloud services, has increase $60 million in funding, expanding its previously announced $135 million Series E funding round to $195 million.
Founded in 2015, Tel Aviv and Boston-based Aqua Security has customers including PayPal, Netflix and Samsung using the Aqua platform for services spanning cloud workload protection (CWPP); cloud security posture management; Kubernetes security posture management; software supply chain security; risk and vulnerability scanning; Malware protection; and more.
The company has raised around $325 million since its inception, and with its Series E extension round, Aqua ushers in the lead investor. Evolution Equity Partnersa venture capital firm focused substantially on the cybersecurity industry and which launched a new $400 million fund two years ago.
Existing Aqua Security investors including Lightspeed Venture Partners, Insight Partners and StepStone Group also participated in the round.
In an arid funding landscape where it's difficult to raise much more than single-digit seed rounds, Aqua's latest cash injection could signal a degree of investor confidence as the company seeks new capital to fuel growth. However, Aqua Security's valuation apparently remains the same as it was about three years ago, when its Series E round was first announced. As of March 2021, Aqua Security saying Its valuation was “over a billion dollars” and today it says its valuation is “above” a billion dollars.
Three years is a long time to attract potential investors with impressive growth metrics, so a stagnant valuation could suggest the business isn't entirely bullish, but on the other hand, a new lead investor could also serve as additional external validation. of the potential prospects of the startup.
