Cyber Firms Island, Corelight Raise Big

Cybersecurity venture funding saw a small bounce back in the first quarter of the year and a couple of large raises Tuesday may indicate that trend continuing.

Dallas-based enterprise browser developer raised a $175 million Series D at a $3 billion valuation 鈥� doubling its last valuation from less than a year ago. The round was led by new investor and existing investor .

Island is no stranger to big-money rounds. In October, it raised聽 a $100 million Series C led by that valued the company at $1.5 billion. In March 2022, it announced a $115 million Series B at a $1.3 billion valuation led by . Island has raised $487 million in total investments to date, per the company.

More money

In addition, San Francisco-based open-network detection and response startup locked up a $150 million Series E investment led by , with additional strategic investment from and the .

Founded in 2013, the company 鈥� which uses network and cloud activity to hunt and respond to threats 鈥� has raised nearly $310 million, .

The rounds are the latest signs that investors are warming back up to cyber after venture funding declined through most of last year.

Cyber startups raised nearly $2.7 billion in 154 deals in Q1, per SA国际传媒 . That dollar figure is the highest since Q1 of last year, when similar startups raised just less than $2.9 billion in 228 deals. However, the Q1 2024 dollar figure represents a 69% increase from the previous quarter, when cyber startups raised just $1.6 billion in 148 deals.