momentum partners cybersecurity snapshot | november 2016
TRANSCRIPT
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Cybersecurity Snapshot
November 2016
Advisors & Dealmakers In Cybersecurity
Momentum Partners • Momentum Capital Markets
Cybersecurity Dashboard: November 2016
Top Financing Transactions YTD Top M&A Transactions YTD
Target Acquirer Amount ($M)
4,722
4,200
2,362
1,463
1,254
~650
600
488
$17.43 BillionM&A Volume YTD
129M&A Transactions YTD
$4.19 Billion
Date Company Amount ($M)
1/13/16 187
7/25/16 180
6/8/16 100
2/3/16 96
1/21/16 76
1/28/16 75
7/5/16 64
11/7/16 60
Financing Volume YTD
251 Financing Transactions YTD
StackPath
Financing Activity M&A Activity
Volume ($B)
# of Deals
2015Total: 229
2016Total: 251
Volume ($B)
# of Deals2015 2016
Public Comps
Max 14.0x
Max 8.6x
Min 1.7x Min 1.7x
Median 4.1x
Median 6.2x
(EV / 2015E) (EV / 2016E)
M&A Activity
2015Total: 142
2016Total: 129
M&A EV / Rev Multiples
4.5x
5.9x
2015 2016 YTD
7
23
10
8
7
5635
18
6
2
14
4
116
16
13
7
17
5536
21
14
3
12
410
142
129
2015 2016 YTD
$10.5
$17.4
2015 2016 YTD
40
23
22
19
1918
17
17
13
11
10
97 4
Specialized Threat Analysis & Protection
Identity & Access Management
Threat Intel / SecOps / IR
Cloud Security
Data Security
Mobile Security
Endpoint Security
Fraud Prevention / Transaction Security
Application Security
Risk & Compliance
Web Security
Industrial / IOT Security
Network Security
Messaging Security
MSSP
229
251
2015 2016 YTD
$3.8
$4.2
2015 2016 YTD
Financing Activity
5
10
15
20
25
30
Jan-15 Mar-15 May-15 Jul-15 Sep-15 Nov-15 Jan-16 Mar-16 May-16 Jul-16 Sep-16 Nov-16
Monthly Deal Count PulseFinancing M&A
(Median EV / LTM Rev)
30
23
31
16
271114
12
15
24
5
15
167 5
Source: Capital IQ, Crunchbase.
Date Target Acquirer Sub-Sector EV ($M) EV / Rev
11/30/16 Messaging Security NA NA
11/24/16 Mobile Security NA NA
11/23/16 Cloud Security NA NA
11/22/16(Cognevo Business Division)
MSSP NA NA
11/21/16 Network Security ~$650.0 ~6.50x
11/20/16 Fraud Detection $2,362.1 3.63x
11/17/16 MSSP NA NA
11/15/16 Risk & Compliance NA NA
11/11/16 Risk & Compliance $6.0 NA
11/09/16 Mobile Security NA NA
11/08/16Specialized Threat Analysis &
ProtectionNA NA
11/07/16 MSSP NA NA
11/07/16 Application Security NA NA
11/04/16 Data Security NA NA
11/04/16 Cloud Security NA NA
11/04/16 Fraud / Transaction Security NA NA
11/01/16 Web Security $1.9 NA
Cybersecurity M&A
M&A Activity
17 transactions were announced with total disclosed amount of $3.0 Billion
M&A activity in November was quite active, with Symantec leading the way with the 3rd largest acquisition of the year acquiring LifeLock for $2.4 Billion
Symantec has 2 of the 3 largest acquisitions this year totaling $7.1 Billion spent
Financing Activity
25 transactions with total disclosed amount raised of $172.8million with a median amount raised of $3.0 Million
Prevalent Networks’ $60.0M Series C and RiskIQ’s $30.5M Series C financing rounds led all financing activity this month
Roughly 2/3 of deals were early stage (Seed to Series A)
Two Momentum ‘Watch List’ companies raised additional funding:
November Deal Flow
3
Strategic Deal Flow Commentary
As 2016 Nears Its End, November’s Strategic Activity Remained Active For Both M&A And Financings.
Date Company Select Investors Funding StageAmount
($M)
11/10/16 Jumpstart Inc. Seed 1.1
11/9/16 Startupbootcamp Accelerator NA
11/9/16First Round, F-Prime Capital Partners, Funders Club, Liquid2Ventures, Y Combinator, Brainchild Holdings
Seed 2.0
11/8/16 CIRTech Fund, iAngels, Sequoia Capital Series A 10.0
11/3/16 GV Venture NA
11/3/16 Yokogawa Electric Corporation Series A NA
11/2/16 NA Debt 3.0
11/2/16 MassChallenge Accelerator 0.1
11/2/16 Shasta Ventures, Bloomberg Beta, Flybridge Capital Partners Series A 12.0
11/1/16 NA Seed 0.5
11/1/16TenEleven Ventures, Fairhaven Capital, Goldman Sachs,
Razor's Edge, ManTech Intl, Siemens, Alcatel-Lucent, EDBI Venture 10.0
11/1/16 NA Seed 1.0
Date Company Select Investors Funding StageAmount
($M)
11/30/16 Index Ventures, Qualcomm Ventures, Telstra Ventures Series A 8.8
11/28/16 NA Venture 6.0
11/23/16 Axilor Ventures, IDG Ventures India Venture 0.6
11/22/16Kaedan Capital, Leon Waisbein, Marius Nacht, Samsung
Next Tel Aviv, Stage One VenturesSeries A 3.5
11/18/16 500 Startups Accelerator 0.2
11/17/16 Insight Venture Partners Series C 60.0
11/16/16ORIX Growth Capital, Comerica Bank, Dell Ventures, New
Atlantic Ventures, Harbert VenturesVenture 10.0
11/16/15 NA Angel 1.4
11/15/16 Blu Venture Investors Seed 1.0
11/15/16ACP, Spring Seeds Capital, Central Exchange, Muru-D, Nest
VenturesSeed 1.2
11/15/16 83 North, G20 Ventures, Alex Daly, Dave Strohm Venture 10.0
11/10/16 Georgian Partners, MassMutual Ventures, Summit Partners Series C 30.5
11/10/16 Faster Capital Accelerator NA
Note: Bold denotes lead investors. Source: Capital IQ, Crunchbase.
Cybersecurity Investing (VC & PE)
4
Venture Capital & Private Equity Activity.
November Deal Flow
Cyberswarm
Notable Financing Transactions
1
$30.5 M
Series C
November 10, 2016
$60.0 M
Series C
November 17, 2016
Date Stage Amount Raised ($M) Selected Investors
Nov 2016 Series C
May 2014 Series B
Jul 2013 Series A
Funding Summary: $67.8M
Description RiskIQ provides organizations the visibility and intelligence they need to secure their
Enterprise Digital Footprint and map their adversaries’ infrastructure. RiskIQ products,
powered by a proprietary virtual-user technology, threat analysis engine, and global proxy
network, enable an organization to defend against threats targeting its websites, mobile
applications, brands, customers, and employees.
Founders / Management
Founded 2009
HQ San Francisco, California
Amount Raised $67.8M
Raises $30.5M In Series C Financing.
Company Overview Product Overview
7
Elias (Lou) ManousosCEO & Co-Founder
Chris KiernanCTO & Co-Founder
David PonCo-Founder
Jeff BaethCFO
Jason ZannVP, Head of Platform
30.5
27.5
9.8
Forward Thinking Organizations Use RiskIQ Security Technology
Index digital footprint using global sensors and virtual-user technology
Know and track all owned assets
Manage digital attack surfaces using a comprehensive outside-in approach
Enterprise Digital Footprint
Discover & Monitor
PassiveTotal
Research & Investigate
Analyze threat infrastructure and context
Assess incidents with data visualization and toolchain integration
Consolidate data from critical sources to map adversaries’ footprints
Threat Detection Suite
Detect & Respond
Identify fraudulent properties targeting the organization
Understand external attack vectors with actionable, real-time infrastructure view
Disarm evasion techniques and combat phishing, infringement, and malware
Virtual-User Technology Core Engine Data Analysis
Crawlers and sensors launched from a global proxy network avoid
detection and experience websites just
like real users
Big data analytics and machine learning techniques fully
automate asset and threat management in
real-time
Artificial intelligence powers a closed-loop detection process that collects and analyzes telemetry data on a
massive scale
Date Stage Amount Raised ($M) Selected Investors
Nov 2016 Series C
Jan 2016 Series B
Jun 2014 Series A
Funding Summary: $72.0M
Description Prevalent Networks is the leader in third-party risk management and cyber threat
intelligence, helping global organizations manage and monitor the security threats and
risks associated with third and fourth-party vendors. The IT consulting company works
with the leaders in governance, risk, infrastructure, and compliance to deliver solutions
that create "information anywhere, security everywhere."
Founders / Management
Founded 2004
HQ Warren, New Jersey
Amount Raised $72.0M
Raises $60.0M In Series C Financing.
Company Overview Product Overview
8
60.0
8.0
4.0
Jonathan DambrotCEO & Co-Founder
Norman W. Menz IIICTO & Co-Founder
Matthew HicksChief Strategy Officer
Bekim ProtopapaChief Revenue Officer
Dave McNamaraVP, Worldwide Third-
Party Risk Sales
Customized platform manages and monitors data supply chain threats posed by third and fourth-party vendors
Automated collection of third-party information ensures security and scalability
Aggregate view of vendor risk evaluation organizes potential risks in prioritized tiers
Scoring methodology (VendorThreatIQ™) provides insight into security investments to detect and isolate attacks behind the firewall
Tiered approach allows for efficient and systematic determination of oversight level
Real-time information integrates directly into VRM to assess risks
Subscription includes annual vendor assessment to understand potential data loss within the relationship
Standardized content and process on hosted platform ensures efficiency and security without any infrastructure setup
Risk recommendations are based on accumulated information, industry intelligence and contextual risk environment
Proven Industry Expertise with Vertical Networks
Membership-based programs designed to assess and monitor third-party vendors specific to law firms and universities for security and data risk
Internal and External Vendor
Repository
Dedicated Program Office
Managers
Pre-, On-Site, and Self-
Assessments
Comparison to Others in the Industry
Exclusive Intelligence
and Network Sharing
Shared Assessments
Content
Notable M&A
Transactions
1
November 21, 2016
acquires
November 20, 2016
acquires
8.0
10.0
12.0
14.0
16.0
18.0
20.0
22.0
24.0
26.0
Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16
Sh
are
Pri
ce ($
)
LifeLock Product OverviewTransaction Overview
acquires
LifeLock Stock Performance Transaction Summary & Rationale
Source: Company press releases and websites, 451 Research.
Tempe, Arizona
2005
Date:
HQ:
Founded:
11/20/2016
11
Symantec Acquires LifeLockSymantec’s Acquisition of LifeLock Will Lead To Integration of Identity Protection Products With Its Norton Suite Products.
Symantec will acquire LifeLock for $24 per share and expects to finance the transaction with cash on balance sheet and $750
million of new debt
Symantec’s purchase of LifeLock will add identity theft protection services to the Norton cybersecurity unit, diversifying product
offerings to bolster declining sales as users move from traditional PCs to mobile devices
“LifeLock is a leading provider of identity and fraud protection services, with over 4.4 million highly-satisfied members and
growing. With the combination of Norton and LifeLock, we will be able to deliver comprehensive cyber defense for
consumers... this acquisition marks the transformation of the consumer security industry from malware protection to the broader
category of digital safety for consumers” Greg Clark, CEO, Symantec
Fraud Prevention $2.4 Billion
EV / LTM Revenue:
EV / NTM Revenue:
EV / LTM EBITDA:
EV / NTM EBITDA:
2.9x
44.3x
3.2x
21.3x
Symantec Purchase Price @ $24 / Share
16% premium to price of $20.75 on day prior to announcement
3 Layers Of Protection
DETECTLifeLock uses advanced technology to
constantly monitor over a trillion data points to help detect suspicious uses of your identity information to get loans, credit and services in your name
ALERTLifeLock will send you a potential fraud
alert by text, phone or email If you confirm that the suspicious
transaction is fraudulent, your LifeLock team is on it
RESTORELifeLock's US-based Identity Protection
Agents are ready to help with identity theft restoration
If your identity is ever compromised, an Identity Restoration Specialist takes charge
Enterprise Product Serves about 350 Enterprise Customers Provides customers with identity, authentication,
& credit information about their consumers
Consumer Product: Serves about 4.4 Million Customers Alerts in cases where identity is suspected
of being used (i.e. Opening New Accounts)
Network Security Est $600-700 M
Dyn Product OverviewTransaction Overview
acquires
About Dyn Transaction Summary & Rationale
Source: Company press releases and websites, 451 Research.
Manchester, NH
2001
Colin Doherty
Date:
HQ:
Founded:
CEO:
Amount Raised:
11/21/2016
12
Oracle Acquires DynThe Addition of Dyn’s Internet Performance & DNS Services Creates A One-Stop Shop For Oracle’s Enterprise IaaS & PaaS Needs.
“Oracle already offers enterprise-class IaaS and PaaS for companies building and running Internet applications
and cloud services. Dyn’s immensely scalable and global DNS is a critical core component and a natural
extension to our cloud computing platform.” Thomas Kurian, President, Product Development, Oracle
“Oracle cloud customers will have unique access to Internet performance information that will help them
optimize infrastructure costs, maximize application and website-driven revenue, and manage risk. We are
excited to join Oracle and bring even more value to our customers as part of Oracle’s cloud computing
platform.” Kyle York, Chief Strategy Officer, Dyn
DataUnrivaled visibility, unbiased information
10+ years of BGP routing
Authoritative DNS queries
Over 200 vantage points
6 billion measures per day
Real user monitoring data
Traffic-SteeringPrecision control & proactive steering
15+ years of DNS experience
Load-balancing & failover
Geographic traffic steering
World-class DNS network
Performance based steering
AnalyticsActionable alerts for timely decision
Dedicated data scientists
CDN, SaaS, & Mobile Analysis
IP transit intelligence
Internet intelligence
World-class tech experts
Internet Performance Management Platform
• Domain expertise• Disaster preparedness• Security and continuity• API integration• Managed reporting• Cloud-based
• Infrastructure availability verification
• Real-time alerts• On-demand testing• Custom vantage points• Industry-leading support
• Geolocation accuracy• System scalability• Ratio load balancing• CDN integration• High availability• Cloud-based
• Open & click tracking• IP pool flexibility• Tagging and segmenting• Connect via SMTP or API• Post back service• Deliverability support
DNS for IPM Internet Intelligence Email Delivery Traffic Director
Selected Customers Selected Partners
$88M
Public Company Trading Analysis
60
65
70
75
80
85
90
95
100
105
110
Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16
5.7%
-10.9%
-6.7%
4.2%
92
94
96
98
100
102
104
106
10/31 11/03 11/06 11/09 11/12 11/15 11/18 11/21 11/24 11/27 11/30
November Stock Price Performance
Note: Market data as of November 30, 2016. Source: Capital IQ.
Company Price Change (%) Company Price Change (%)
$22.04 5% $77.01 2%
$82.33 3% $33.20 11%
$51.01 9% $11.60 19%
$12.84 10% $12.35 5%
$30.10 6% $3.18 13%
$3.37 4% $57.62 4%
$38.15 3% $24.39 3%
$20.46 1% $35.97 2%
$4.15 14% $14.50 5%
$134.37 13%
November Stock Price Performance
LTM Indexed Stock Performance
November Indexed Stock Performance
High Growth Security
Low Growth Security
S&P 500
NASDAQ
HACK
Index
2.0%
-6.8%
0.1%
3.4%2.6%
-0.3%
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High Growth Security Companies Drop Towards The End of November, While Low Growth Security Remained Flat.
Earnings Scorecard
85.3 | 87.9
Cons. | Act.
0.13 | 0.21EPS:
423.1 | 427.6
Cons. | Act.
1.08 | 1.13EPS:
314.1 | 316.7
Cons. | Act.
0.15 | 0.18EPS:
94.3 | 99.8
Cons. | Act.
0.05 | 0.19EPS:
Rev:
2Q17
Rev:
3Q16
Rev:
3Q16 3Q16 3Q16
Rev:
3Q16 3Q16
3Q162Q17 1Q17 3Q16 3Q16 3Q16
1H17 2Q17 2Q17 3Q16 3Q16
Cons. | Act.
EPS:
Rev:
42.3 | 43.7
Cons. | Act.
EPS:
Rev:
0.08 | 0.09
15
200.5 | 212.8
Cons. | Act.
EPS:
Rev:
0.03 | 0.05
4Q16
IPO Pipeline
41.5 | 41.6
(0.09) | (0.17)
84.5 | 86.3
Cons. | Act.
0.06 | 0.08EPS:
Rev:
Earnings Release Calendar And Results.
52.3 | 55.0
Cons. | Act.
0.23 | 0.33EPS:
Rev: 182.6 | 186.4
Cons. | Act.
(0.31) | (0.18)EPS:
Rev: 63.1 | 68.4
Cons. | Act.
(0.16) | 0.08EPS:
Rev:
50.7 | 51.0
Cons. | Act.
0.19 | 0.22EPS:
Rev:
977.0 | 979.0
Cons. | Act.
EPS:
Rev:
0.20 | 0.30
43.9 | 43.2
Cons. | Act.
0.03 | 0.02EPS:
Rev:
41.8 | 44.4
Cons. | Act.
(0.02) | 0.04EPS:
Rev:
Cons. | Act.
EPS:
Rev: 400.4 | 398.1
0.52 | 0.55
39.4 | 40.3
Cons. | Act.
(0.20) | (0.13)EPS:
Rev:
263.0 | 256.9
Cons. | Act.
0.03 | 0.11EPS:
Rev: 295.4 | 277.7
Cons. | Act.
0.30 | 0.33EPS:
Rev:
Public Company Analysis: Trading Metrics
Note: NM – Not Meaningful, NA – Not Available; market data as of November 30, 2016; * price performance from IPO price.
Source: Capital IQ.
Company Name Stock Price LTM Price
Performance Market Cap
($M)Enterprise Value
($M)
2015-16E Revenue Growth
2016E-17E Revenue Growth
EV / Revenue EV / EBITDA P / E
CY2016 CY2017 CY2016 CY2017 CY2016 CY2017
High Growth Cybersecurity Palo Alto Networks 134.37 (28.9%) 12,320 11,436 36.9% 30.5% 7.3x 5.6x 34.3x 22.2x 64.2x 41.6x
Splunk 57.62 (5.0%) 7,752 6,725 39.4% 27.7% 7.2x 5.6x NM 53.7x NM NM
Fortinet 30.10 (16.6%) 5,208 4,178 24.5% 16.8% 3.3x 2.8x 19.9x 15.5x 47.1x 37.3x
Proofpoint 77.01 3.6% 3,272 3,221 40.7% 29.0% 8.6x 6.7x NM 64.7x NM NM
CyberArk 51.01 18.2% 1,712 1,460 33.8% 22.3% 6.8x 5.5x 24.5x 20.9x 43.2x 38.0x
Qualys 33.20 (13.9%) 1,185 975 20.7% 18.1% 4.9x 4.2x 15.0x 12.6x 41.2x 36.2x
Mimecast 20.46 95.6% 1,122 1,015 23.7% 24.3% 6.0x 4.9x NM 62.5x NM NM
Secureworks* 12.35 (11.8%) 996 883 25.2% 19.3% 2.1x 1.7x NM NM NM NM
Rapid7 11.60 (31.6%) 493 405 40.5% 23.2% 2.6x 2.1x NM NM NM NM
Mean 31.7% 23.5% 5.4x 4.4x 23.4x 36.0x 48.9x 38.3x
Median 33.8% 23.2% 6.0x 4.9x 22.2x 22.2x 45.1x 37.7x
Low Growth CybersecuritySymantec 24.39 23.6% 15,205 16,762 5.3% 18.3% 4.4x 3.7x 11.3x 8.1x 22.3x 15.9xCheck Point Software 82.33 (4.8%) 14,400 13,169 6.3% 5.6% 7.6x 7.2x 13.8x 13.3x 18.2x 16.9xTrend Micro 38.56 (8.9%) 4,945 3,833 10.4% 6.6% 3.4x 3.1x 10.8x 9.9x 31.5x 27.0xFireEye 12.84 (43.4%) 2,197 2,004 15.6% 10.5% 2.8x 2.5x NM 58.5x NM NMSophos 3.18 (18.2%) 1,448 1,649 7.4% 14.4% 3.3x 2.8x 25.5x 19.8x 10.1x 35.3xImperva 38.15 (49.1%) 1,253 994 9.4% 19.4% 3.9x 3.2x NM NM NM NMBarracuda Networks 22.04 12.8% 1,153 977 11.8% 6.5% 2.8x 2.7x 12.7x 11.3x 31.3x 32.6xVSDI 14.50 (24.5%) 576 435 (21.2%) 15.6% 2.3x 2.0x 16.2x 15.8x 30.2x 22.0xF-Secure 3.37 7.7% 527 435 4.4% 7.2% 2.6x 2.4x 17.5x 13.5x 33.5x 28.8xMobileIron 4.15 (1.7%) 365 285 9.6% 10.9% 1.7x 1.6x NM NM NM NM
Mean 5.9% 11.5% 3.5x 3.1x 15.4x 18.8x 25.3x 25.5x
Median 8.4% 10.7% 3.0x 2.8x 13.8x 13.4x 30.2x 27.0x
High Growth & Low Growth Cybersecurity.
16
Note: NA – Not Available; market data as of November 30, 2016.Source: Capital IQ.
High Growth & Low Growth Cybersecurity.
Company Name Revenue Revenue Growth (YoY%) EBITDA EBITDA Margin (%)
2015A 2016E 2017E 15-'16 16-'17 2015A 2016E 2017E 2015A 2016E 2017E
High Growth Cybersecurity
Palo Alto Networks $1,150 $1,574 $2,055 36.9% 30.5% $213 $334 $516 19% 21% 25%
Splunk 668 932 1,190 39.4% 27.7% 45 81 125 7% 9% 11%
Fortinet 1,009 1,257 1,468 24.5% 16.8% 168 210 270 17% 17% 18%
Proofpoint 265 373 482 40.7% 29.0% 5 36 50 2% 10% 10%
CyberArk 161 215 263 33.8% 22.3% 45 59 70 28% 28% 27%
Qualys 164 198 234 20.7% 18.1% 57 65 77 34% 33% 33%
Mimecast 136 168 209 23.7% 24.3% NA 8 16 NA 5% 8%
Secureworks 340 425 507 25.2% 19.3% NA (29) (1) NA (7%) 0%
Rapid7 111 155 191 40.5% 23.2% (29) (29) (31) (26%) (19%) (16%)
Low Growth Cybersecurity
Symantec $3,626 $3,817 $4,516 5.3% 18.3% $1,709 $1,483 $2,063 47% 39% 46%
Check Point Software 1,630 1,732 1,830 6.3% 5.6% 938 956 988 58% 55% 54%
Trend Micro 1,034 1,142 1,218 10.4% 6.6% 322 354 389 31% 31% 32%
FireEye 623 720 796 15.6% 10.5% (172) (53) 34 (28%) (7%) 4%
Sophos 472 507 580 7.4% 14.4% NA 65 83 NA 13% 14%
Imperva 234 256 306 9.4% 19.4% 9 (4) 12 4% (2%) 4%
Barracuda Networks 309 345 367 11.8% 6.5% 64 77 86 21% 22% 23%
VDSI 241 190 220 (21.2%) 15.6% 57 27 28 24% 14% 13%
F-Secure 160 167 180 4.4% 7.2% 31 25 32 19% 15% 18%
MobileIron 149 164 181 9.6% 10.9% (52) (29) (15) (35%) (18%) (8%)
17
Public Company Analysis: Operating Metrics
Overview of Momentum Partners
Momentum Partners
Why Momentum Partners?Momentum Partners is a boutique Cybersecurity focused advisory firm based in Silicon Valley
with operations globally. We employ a high-touch advisory model specifically designed to serve
Founders/CEOs and their Boards – Series A to exit – where we are relentless in our pursuit for
better outcomes for clients. As advisors and dealmakers in cybersecurity for two decades, we
have closed over 200 deals totaling $200 Billion in value.
Cybersecurity Enterprise IT Cloud & SaaS Defense & Government
Mergers & Acquisitions* Capital Raising*
Corporate Development Ecosystem Development
Momentum’s Senior Cybersecurity Team
Michael TedescoExecutive ChairmanFounderStrategic and Capital MarketsAdvisor to CEOs, Founders & Boards
Eric McAlpineManaging PartnerFounderSenior AdvisorCybersecurity Lead
Dino BoukourisDirectorStrategic AdvisorStart-up AdvisorVC & Private Equity
Keith SkirbeDirectorStrategic AdvisorMergers & AcquisitionsDeep Cybersecurity Expertise
CLIENT COUNTERPARTY CLIENT COUNTERPARTY CLIENT COUNTERPARTY CLIENT COUNTERPARTY CLIENT COUNTERPARTY
200+ Deals $200+ Billion
Petros KitsosSenior AdvisorStrategic AdvisorDirect Investor and Board MemberDeep Defense & Aerospace Expertise
Jay FulcherSenior AdvisorStrategic AdvisorBoard MemberCEO – Ooyala, Agile Software
(Rocketdyne)
19
Advisors & Dealmakers In Cybersecurity.
CYBERscape: The Cybersecurity Landscape
Source: Momentum Partners.
Network Security
Network Firewall Network Monitoring/Forensics
Intrusion Prevention Systems Unified Threat Management
Managed Security Service Provider Messaging Security
Application Security
WAF & Application Security
Vulnerability Assessment
Endpoint Security
Endpoint Prevention
Endpoint Detection & Response
Specialized Threat Analysis & Protection
Cloud Security
Fraud Prevention / Transaction Security
Identity & Access Management
Web Security
Risk & Compliance
Threat Intelligence
Industrial / IoT Security
Mobile SecurityData Security
Security Incident Response
SIEM
Security Operations & Incident Response
The Security Sector Is Dynamic And Vast. We Are Ceaseless & Vigilant In Our Coverage.
20
CYBERscape: The Investor Landscape
Mountain South
California
Northern California
SECURE OCTANE
Southern California
Cybersecurity-Focused Investors Government
APAC
Israel
Pacific NorthwestCanada
United Kingdom
Europe (Ex-UK)
Europe
Corporate Ventures
21
Midwest
Mid-Atlantic
New York
New England
Cybersecurity Is A Popular Investing Ground For Institutional Investors Around The World.
15
Advise. Network. Invest.
Momentum Partners, LLC
Momentum Cap i ta l Market s , LLC
340 Brannan Street | Suite 501
San Francisco, California 94107
Michael Tedesco
Executive Chairman
Eric McAlpine
Managing Partner
Keith Skirbe
Director
Dino Boukouris
Director
*Securities offered through Momentum Capital Markets, LLC, a division of Financial Telesis Inc. Member FINRA/SIPC.
Petros Kitsos
Senior Advisor
Timothy Lipton
Partner