Swiss Post strengthens its digital security with the acquisition of Open Systems, while Second Front Systems and Picus Security secure major funding for expansion. Intezer, EasyDMARC, and RunSafe scale up in cybersecurity, and the UK claims the top spot in CyberTech investment in Europe for H1 2024.
Swiss Post, Switzerland’s national postal service, has announced plans to acquire Zurich-based network security firm Open Systems. With this acquisition, Swiss Post aims to deepen its role as a provider of secure digital communication solutions, enhancing its capacity to manage sensitive data for both private companies and public authorities.
According to Swiss Post, Open Systems' network and cybersecurity expertise will "strengthen Swiss Post’s role as a relevant provider of digital communication solutions." This move aligns with Swiss Post’s broader strategy to support Switzerland’s evolution into a digitally networked country, with reinforced competencies in data security and management.
Israeli security operations company Intezer raised $33 million in a Series C round led by Norwest Venture Partners. With the funding, Intezer plans to expand its product and go-to-market teams, solidifying its role in the AI-driven SOC (Security Operations Center) space. Meanwhile, US-based email security firm EasyDMARC secured $20 million in Series A funding led by Radian Capital.
EasyDMARC will use the capital to enhance product offerings and expand teams globally, with a focus on regulatory compliance and channel partner growth across Europe, the UK, the US, and APAC. Additionally, Virginia-based RunSafe Security raised $12 million in Series B funding to accelerate product development and expand market reach in EMEA and APAC.
Second Front Systems, a Delaware-based firm focused on secure software delivery, has closed a $70 million Series C round, led by Salesforce Ventures and with contributions from Battery Ventures and other investors. CEO Tyler Sweatt stated,
"The Series C funding adds fuel to the fire, enabling us to scale quicker, faster, and stronger."
The fresh capital will support product expansion and new deployment patterns, as well as growth in its global partnerships. In parallel, Picus Security, a San Francisco-based security validation company, raised $45 million in growth investment from Riverwood Capital. The funds are intended to enhance product innovation, expand customer support, and boost sales and marketing initiatives, positioning Picus for broader market influence.
The UK is now the undisputed leader in Europe’s CyberTech funding scene, capturing a larger share of the market as investors prioritize fewer but more substantial deals. In H1 2024, European CyberTech funding surged 28% year-over-year, reaching $469 million, despite a 43% drop in deal volume from 65 rounds in H1 2023 to 37.
Analysts observe that this trend "highlights a shift in financing strategy" as investors favor high-impact funding rounds for top innovators, demonstrating a more selective, quality-focused approach to fueling cybersecurity advancements.
The UK emerged as the most active CyberTech market in Europe, recording 16 deals—accounting for 43% of the region's total and up from 13 deals last year. This growth has seen the UK outpace France, which led with 15 deals in H1 2023 but has since seen a dip to six deals (16%) this year. Spain, meanwhile, stepped into a leadership role by completing three deals and surpassing Germany’s standing.
This reordering among Europe’s top CyberTech markets showcases a nimble, forward-looking investment landscape where regions shift focus based on market momentum and strategic alignment with growth opportunities.
PortSwigger, a UK-based cybersecurity leader known for its web application and API security tools like Burp Suite Professional and Burp Suite Enterprise, secured the largest CyberTech funding round in Europe in H1 2024 with a $112 million investment led by Brighton Park Capital.
“This significant funding will accelerate our product development and global expansion,”
shared PortSwigger founder Dafydd Stuttard. With almost 20,000 customers worldwide, including Microsoft and Salesforce, PortSwigger’s new capital injection sets it up to lead the cybersecurity market, amplifying the UK’s influence in the European tech sector.
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