MARKET NOTES / 001UNITED STATES / LOS ALTOS / CYBERSECURITY
LESS GUESSWORK. A BETTER RESEARCH LIST.

Cybersecurity.
Los Altos.

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Who backs this market, where they enter, and how recently they have added a new company. A directory built around the questions founders actually ask.

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Companies are based in Los Altos · investors can be based anywhere
Dataset through 22 May 2026 · calculated 14 Sep 2026
01 / THE SHORTLIST LAB

Make the list work for your company.

No local headquarters are recorded for this shortlist. Browse 22 backers from all locations. Compare up to three.

0 of 22 selected backers · Los Altos only

Shows investors whose recorded city is Los Altos. Unknown cities are excluded. Market charts cover all investor locations.

Theme filtering selects backers of companies carrying that theme tag. Entry-stage filtering selects backers with an entry at that stage; the two matches may be different companies. Row metrics describe their entire dated Cybersecurity history in Los Altos.

Selected investors ranked by distinct companies backed, with first-entry financing and recent activity.
CompareInvestor / recorded locationCompanies
here
New in
24 months
Median total
entry round
Companies
backed again
Latest
investment
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THE INVESTOR, IN CONTEXT
LINKEDIN ACCESS

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02 / THE MARKET READ

Activity is a better starting point
than a long list of names.

Latest 24 months: after 22 May 2024 through 22 May 2026.

RECENT PARTICIPATION
20

Backers in a recent round

16 added at least one new company in this market. The remainder participated only in companies they had already backed here.

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MARKET PACE
4

Distinct equity rounds

Across 4 companies, versus 5 rounds in the preceding 24 months. Each company round is counted once.

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EARLY FINANCING
75%

Rounds at Angel, Pre-Seed or Seed

3 of 4 recent rounds. Compare your stage with its own financing range before sizing the ask.

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NEW RELATIONSHIPS
80%

Participations were first entries

16 first investor–company relationships out of 20 participations. The other 4 were later rounds together.

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Build a syndicate beyond the city.

Of 20 recently active backers, 0 have a recorded Los Altos location and 18 are based elsewhere. Location is missing for 2. Search by market experience first, then investigate the people and their remit.

Match the whole round to your plan.

Recent Seed rounds have a median size of $3.0M, across 3 disclosed amounts. That is total company financing. An individual investor’s cheque or available capital is not disclosed here.

03 / EMERGING THEMES

Which themes are gaining share?

Follow financing activity across the company classifications represented in this market.

Latest four complete quarters: 01 Apr 2025–31 Mar 2026 · 2 market rounds, versus 3 in the preceding four quarters.

EARLY SIGNAL

Enterprise Software

+0.0 pp

2 of 2 recent rounds (100.0%), versus 3 of 3 (100.0%).

Small sample: 2 rounds across 2 companies. Treat this as a theme to monitor.

EARLY SIGNAL

Saas

+16.7 pp

1 of 2 recent rounds (50.0%), versus 1 of 3 (33.3%).

Small sample: 1 rounds across 1 companies. Treat this as a theme to monitor.

EARLY SIGNAL

Identity Access Management

+16.7 pp

1 of 2 recent rounds (50.0%), versus 1 of 3 (33.3%).

Small sample: 1 rounds across 1 companies. Treat this as a theme to monitor.

EARLY SIGNAL

It Operations

+0.0 pp

0 of 2 recent rounds (0.0%), versus 0 of 3 (0.0%).

Small sample: 0 rounds across 0 companies. Treat this as a theme to monitor.

SPIKE DETECTION

Look beyond the headline total.

Share of market roundsPrior four-quarter shareDetected spike

Scroll sideways to explore all quarters.

Enterprise Software: quarterly share of recorded equity roundsSolid line: share of market rounds. Dashed line: share over the previous four complete quarters. Rings mark rule-based spikes. Shading marks a partial quarter, excluded from detection. 0%25%50%75%100% Partial 2020Q3 2020: 1 / 1 rounds, 100%Q4 2020: 1 / 1 rounds, 100%2021Q4 2021: 1 / 2 rounds, 50%2022Q2 2022: 2 / 2 rounds, 100%Q4 2022: 1 / 1 rounds, 100%2023Q1 2023: 1 / 1 rounds, 100%2024Q2 2024: 1 / 1 rounds, 100%Q4 2024: 1 / 1 rounds, 100%2025Q1 2025: 1 / 1 rounds, 100%Q3 2025: 2 / 2 rounds, 100%2026

Q1 2026 · 0 of 0 market rounds · 0 companies · —% share. No spike under the published rule.

Select a dot to inspect the exact count and baseline. The partial quarter through 22 May 2026 is shown but cannot trigger a spike.

The theme shift, year by year.

Share of all recorded Cybersecurity rounds in Los Altos. Each cell also gives its theme-round count.

Theme shares and round counts by calendar year. 2026 is partial through 22 May 2026.
Investment theme2020202120222023202420252026*
100.0%2 / 250.0%1 / 2100.0%3 / 3100.0%1 / 1100.0%2 / 2100.0%3 / 3—0 / 0
100.0%2 / 2100.0%2 / 266.7%2 / 3100.0%1 / 150.0%1 / 233.3%1 / 3—0 / 0
0.0%0 / 20.0%0 / 20.0%0 / 3100.0%1 / 10.0%0 / 266.7%2 / 3—0 / 0
100.0%2 / 20.0%0 / 233.3%1 / 30.0%0 / 10.0%0 / 20.0%0 / 3—0 / 0
0.0%0 / 250.0%1 / 20.0%0 / 30.0%0 / 10.0%0 / 233.3%1 / 3—0 / 0
0.0%0 / 20.0%0 / 20.0%0 / 30.0%0 / 150.0%1 / 20.0%0 / 3—0 / 0
0.0%0 / 20.0%0 / 20.0%0 / 3100.0%1 / 10.0%0 / 233.3%1 / 3—0 / 0
0.0%0 / 20.0%0 / 233.3%1 / 30.0%0 / 150.0%1 / 233.3%1 / 3—0 / 0

*2026 is partial. Company themes use the tags available in this dataset, applied to historical rounds; they do not date when a business adopted a technology. Themes overlap, so shares do not add to 100%. Each company round is counted once within a theme. These charts cover investors from all locations; the shortlist keeps its own location filter.

How a spike is detected

A complete quarter is flagged when its theme share is at least 1.75× the share across the preceding four quarters and at least 5 percentage points higher. It must contain at least 3 theme rounds across 3 companies, at least 10 market rounds, and at least 3 theme rounds in the baseline. All four baseline quarters must have market observations. A zero baseline, missing observations or partial quarter cannot produce a flag.

This is a transparent screening rule, not a statistical significance test or a forecast. A higher share can accompany fewer rounds when the wider market contracts; the counts beside the chart make that distinction visible.

04 / THE DEPTH MAP

One appearance, or a pattern?

67 of 70 backers with dated histories appear in just one company. Select a cell to explore the directory.

Backers by type and number of distinct Cybersecurity companies backed in Los Altos, all dated history.
Portfolio breadth here1 company2 companies3–56–1011+
Firms & institutions
Individual angels

Circle area increases with backer count. The shortlist includes backers with 2 or more companies in this market, plus other backers active in the latest 24 months. In the 1-company cell, only recently active backers are available to explore. The shortlist’s investor-location filter also applies; select all locations to broaden the results. 0 backers have only undated entries.

05 / ROUND DESIGN

Different stages. Different capital.

Recent equity rounds · 24-month window.
Amounts are in USD.

StageDistinct roundsMedian / middle half
Seed
3
$3.0M$1.7M–$19M3 disclosed · small sample
Series A
1
$5.0M$5.0M–$5.0M1 disclosed · small sample
06 / FOLLOW THE EVIDENCE

The most recent recorded rounds.

Distinct company rounds.
Named backers are shown lead-first.

Seed

Provider of a customer identity and access management (CIAM) platform

$35M total equity round
6 named backers

Cerca Partners · Dell Technologies Capital · Lightspeed Venture Partners · Notable Capital · Triventures · +1 more

Seed

Platform offering application security solutions

$400K total equity round
1 named backer

Antler

Seed

Provider of passwordless authentication solution

$3.0M total equity round
2 named backers

Engineering Capital · BoldCap

Series A

Cryptographic data encryption solutions provider

$5.0M total equity round
11 named backers

Binance Labs · Faction VC · IDG Blockchain · K24 Ventures · MH Ventures · +6 more

Series B

Cloud-based threat intelligence solutions provider

$14M total equity round
7 named backers

M12 · Cervin · Cheyenne Ventures · Crosslink Capital · Liberty Global · +2 more

Seed

Provider of a customer identity and access management (CIAM) platform

$53M total equity round
12 named backers

GGV Capital · Lightspeed Venture Partners · Assaf Rappaport · Bipul Sinha · Cerca Partners · +7 more

07 / READING THE ATLAS

What these patterns can tell you.

The market boundary

Recorded equity rounds for companies tagged Cybersecurity and located in Los Altos. Investor headquarters may be elsewhere. Company sector and location reflect the available company records, not necessarily the location or sector at the investment date.

The time boundary

Data coverage ends 22 May 2026. The latest market round is 28 Sep 2025. There are 0 undated participations, excluded from timing metrics. Activity after the cutoff is unknown.

The relationship boundary

“New” is the first dated relationship between a backer and a company in this market. “Backed again” requires a later dated round together. A first observed entry may follow an earlier unrecorded investment.

The financing boundary

Amounts describe entire equity rounds, not personal cheques, fund capacity or returns. Medians exclude missing and non-positive amounts; the middle half spans the 25th–75th percentiles. A recorded investment does not establish current availability.

RADAR / COMPANY DISCOVERY

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Calculated 14 Sep 2026 · 22 investor histories to explore