Aqua Securityan Israeli cybersecurity startup that helps companies protect their cloud services lifted up $60 million in funding, expanding the previously announced Series E funding of $135 million to $195 million.
Founded in 2015, Tel Aviv and Boston-based Aqua Security claims customers such as PayPal, Netflix and Samsung, who use 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 now raised approximately $325 million since its inception and with the expansion of the Series E round Aqua brings in the lead investor Evolution Equity Partnersa venture capital firm focused essentially on the cybersecurity industry that 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 hard to find much beyond low-single-digit seed rounds, Aqua’s latest cash injection could indicate a degree of investor confidence as the company seeks new capital to fuel growth. However, Aqua Security’s valuation appears to have remained the same as it was about three years ago when the Series E round was first announced. In March 2021, Aqua Security he said his valuation was “over $1 billion” and today he says his valuation is “over” $1 billion.
Three years is a long time to attract would-be investors with impressive growth metrics, so a stagnant valuation could suggest the business isn’t entirely rosy — but on the other hand, a new lead investor could also serve as additional external validation of the possible prospects of the startup.
