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As we head into the final stretch before Christmas, deal volume has slowed slightly but there are still some interesting things to look at!

Just a quick thank you to all the readers of this newsletter. The world is inundated with newsletter so I hope I have hit the sweet spot between quick but interesting reading. We have been going for around 18 weeks now, if anyone has any feedback or suggestions please feel free to email me!

Ill fire out a short and sweet newsletter next week, just to keep everyone up to date, but it’ll be condensed as I will be on holiday.

Merry Christmas everyone, thanks for an awesome year!

In this episode of Trident Talks, Rosie Larter sits down with Michael Pearl, VP GTM & Strategy at CyVers AI, to unpack how Web3 security is maturing - and why real-time fraud and hack prevention is now non-negotiable.

Ciphero AI – Seed – $2.5M - Led by Sovereign’s Capital & Chingona Ventures.
AI-native verification layer securing enterprise AI interactions.

Gambit Cyber – Seed – $3.4M - Led by Expeditions Fund.
Proactive, AI-driven threat exposure management with real-time remediation.

Soverli – Seed – CHF 1.99M - Led by Founderful.
Security-first smartphone platform for enterprise and regulated use cases.

Cyera – Later Stage – $400M (in progress) - Led by Blackstone.
Another big raise for 2025’s hottest customer. Valued at ~$8.6B now.

Vega – Series B – $120M - Led by Accel & Calcalist.
AI-native security analytics fabric for modern SOCs.

Adaptive – Series B – $81M - Led by Bain Capital.
Security awareness reimagined for deepfakes, voice phishing, and AI-driven attacks.

Late December is rarely loud in cybersecurity, but it’s often pretty telling.

This week’s activity reinforces a pattern we’ve seen throughout 2025.

The biggest checks are going to companies with:

At the same time, seed funding hasn’t disappeared, it’s simply more disciplined. Founders raising right now are solving specific problems: AI governance, data exposure, mobile device security, proactive threat management. Not “platforms for everything,” but products for something real.

The absence of mega-mergers this week isn’t a slowdown, it’s a pause while we spend some well earned time with our families, budgets are being set, CISOs are planning 2026, and many of the conversations that turn into Q1 announcements are happening quietly right now.

Those who are building through December usually show up strongest in January.

In 2025, Trident partnered with some of the most exciting cybersecurity companies in the market, from early-stage founders building category-defining products to scale-ups navigating critical GTM inflection points.

The impact so far:

More importantly, we’ve had the privilege of starting work with some of the hottest early-stage founders entering the market, often well before the hype cycles catch up.

We’re proud to be an early signal partner, not just another recruiter.

To everyone we’ve worked with this year, clients, partners and candidates: thank you for the trust you put in us.

The Trident Radar – 2025 Cybersecurity Funding Roundup
A full breakdown of where capital flowed, which categories won, and what it all means for 2026. Dropping in a couple of weeks.

Stop hunting for jobs, go eat some mince pies!!

p.s we still have a TON of jobs on, drop me a note if you want one of the team to drop you a call.

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