10 Hot Startups That Raised VC Funding In June

Follow The Money

While cybersecurity has already been red hot for venture capital funding for some time now, June may have represented an uptick as a number of security startups raised massive new rounds from leading VCs. Endpoint security specialists CrowdStrike and Cylance raised a combined $320 million, while two other security firms raised $60 million apiece during the month. June marked a major month for large VC fundings in other sectors, too, as hyper-converged technology firm Cohesity raised $250 million and storage technology firm Qumulo hauled in $93 million.

What follows are our picks for 10 IT startups to watch that landed new funding in June.

Avi Networks

Headquarters: Santa Clara, Calif.

CEO: Amit Pandey

Funding: $60 million

Investors: Cisco Investments, DAG Ventures, Greylock Partners, Lightspeed Venture Partners, Menlo Ventures

What it does: Offers application services such as software load balancing, elastic service mesh for microservices applications, intelligent web application firewalls and application analytics

Balbix

Headquarters: San Jose, Calif.

CEO: Gaurav Banga

Funding: $20 million, Series B

Investors: Singtel Innov8 and Mubadala Ventures (led the round), Mayfield Fund, John Chambers, Pankaj Patel, BV Jagadeesh, Gary Gauba

What it does: Uses deep learning and other advanced artificial intelligence algorithms to gather and analyze data about an enterprise's attack surface to predict when and how breaches are likely to happen

BitSight

Headquarters: Cambridge, Mass.

CEO: Tom Turner

Funding: $60 million, Series D

Investors: Warburg Pincus (led the round), Menlo Ventures, GGV Capital, Singtel Innov8

What it does: Creator of the BitSight Security Ratings Software-as-a-Service platform, which offers daily security ratings on organizations worldwide

Cohesity

Headquarters: San Jose, Calif.

CEO: Mohit Aron

Funding: $250 million, Series D

Investors: SoftBank Vision Fund (led the round), Cisco Investments, Hewlett Packard Enterprise, Morgan Stanley Expansion Capital, Sequoia Capital

What it does: Developer of hyper-converged infrastructure technology targeting secondary storage

Claroty

Headquarters: New York

CEO: Amir Zilberstein

Funding: $60 million, Series B

Investors: Temasek (led the round), Rockwell Automation, Aster Capital, Next47, Envision Ventures, Tekfen Ventures, Bessemer Venture Partners, Team8, Innovation Endeavors, ICV

What it does: Offers a security platform that provides protection for granular operational technology network elements in industrial workplaces

CrowdStrike

Headquarters: Sunnyvale, Calif.

CEO: George Kurtz

Funding: $200 million, Series E

Investors: General Atlantic, Accel and IVP (co-led the round), March Capital, CapitalG

What it does: Provider of the CrowdStrike Falcon endpoint protection platform, which is cloud-delivered and uses artificial intelligence to prevent attacks on endpoints whether they're on or off the network

Cylance

Headquarters: Irvine, Calif.

CEO: Stuart McClure

Funding: $120 million

Investor: Blackstone Tactical Opportunities

What it does: Offers CylanceProtect, which uses advanced machine learning and artificial intelligence to identify threats and prevent malicious code from executing on attacked systems

Puppet

Headquarters: Portland, Ore.

CEO: Sanjay Mirchandani

Funding: $42 million

Investors: Cisco Investments (led the round), EDBI, Kleiner Perkins, True Ventures, VMware

What it does: Provides IT automation software used to provide a common code for defining applications and infrastructure—leading to a standard way to manage all infrastructure such as private and public cloud, containers, storage and networking

Qumulo

Headquarters: Seattle

CEO: Bill Richter

Funding: $93 million, Series D

Investors: BlackRock Private Equity Partners (led the round), Goldman Sachs, Western Digital

What it does: Developer of the Qumulo File Fabric, a file storage system that runs in the data center and the public cloud and can scale to up to billions of files

YugaByte

Headquarters: Sunnyvale, Calif.

CEO: Kannan Muthukkaruppan

Funding: $16 million

Investors: Dell Technologies Capital, Lightspeed Venture Partners

What it does: Creator of YugaByte DB, a transactional database for globally distributed applications that is cloud-native