Forefront: June 2025

Welcome to the latest edition of Forefront: a monthly digest of the latest news and insights from Forgepoint Capital's community at the forefront of cybersecurity, AI, and infrastructure software innovation. Read on to explore moments from the past month including our investments in Multiverse Computing and Tadaweb , insights and updates from our team, and the latest activities and accomplishments across our portfolio.

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Multiverse Computing: €189M ($215M) in Series B Funding 

Multiverse Computing , global leaders in AI optimization making Large Language Models (LLMs) practical at scale, announced €189M ($215M) in Series B funding from Bullhound Capital and Forgepoint Capital. Additional investors in the round include HP Tech Ventures, Santander Climate VC, Toshiba International Corporation , SETT Spain , CDP VC, and Capital Riesgo de Euskadi – Grupo SPRI. Congratulations to Co-founders Dr. Enrique Lizaso Olmos , Prof. Román Orús , and Dr. Samuel Mugel, PhD as well as the rest of the Multiverse team! 

Read the press release, coverage in Reuters and TechCrunch, and our blog post by Forgepoint Capital International Managing Director Damien Henault . 

That's not all: Multiverse Computing recently advanced to the European Innovation Council and SMEs Executive Agency (EISMEA) STEP Scale Up program's investment stage with potential backing of up to €30M, was recognized as one of the 100 fastest-growing startups in France & Southern Europe for 2025 by Sifted , and its CompactifAI API is now available on the Amazon Web Services (AWS) Marketplace. The momentum continues!

Tadaweb: $20M Funding Round

Tadaweb , innovators redefining PAI and OSINT investigations with a human-centered Small Data approach, announced $20M in funding led by Forgepoint Capital and Arsenal Growth Equity , with participation from existing investor Wendel . Congratulations to Co-founders François G. and Genna Elvin along with the entire Tadaweb team!  

Read the press release, coverage in Axios, and Forgepoint Capital International Managing Director Damien Henault ’s blog post on why we invested.

Forgepoint Capital held the third annual Global Cyber Innovation Forum alongside co-hosts Carahsoft , Google Cloud Security , Snowflake , and Forescout Technologies Inc. This year's event was held at the Embassy of Canada | Ambassade du Canada in Washington, D.C.

Leaders across the public and private sector were in attendance for this flagship event:  

Jeanette Manfra, Director, Risk and Compliance at Google, led a conversation on Securing Critical Infrastructure Against a ‘Typhoon’ of Attacks along with Rich Baich, CISO, AT&T; Chris Leigh, CISO, Eversource Energy; Brian Scott, Deputy Assistant National Cyber Director for Cyber Policy and Programs, ONCD; and Shannon Stafford, Director of Security Operations and Engineering, Entergy. cc Nicholas Panos

Michael McLaughlin, Head of Security & Privacy at Buchanan Ingersoll & Rooney PC, led a panel on Securing Data and Privacy in the Era of AI and at the Edge Frontier with Andrew Hoog, Co-Founder and CTO, NowSecure; Roman J., Chief Privacy Officer, DHS; and Brad Jones, CISO, Snowflake. cc Matthew Rose

Chris Finan, CEO at Anitian, led a session on Regulatory Harmonization to Simplify Compliance and Cut Red Tape with Leslie Beavers, Principal Deputy CIO, DoD; Nathan Simington, Commissioner, Federal Communications Commission; Craig Unger, Founder & CEO, Hyperproof; and Vincent Voci, Director, Global Government Relations & Partnerships, Cloudflare.

Alexander Botting, Senior Director, Global Security & Technology Strategy at Venable LLP led a panel on International Collaboration Amid Mounting Transnational Cyber Threats with Nick Andersen, President & CEO, Invictus International Consulting, LLC; Ghislain Chaput, Cyber Attaché, Embassy of Canada; Chris Gower, Minister Counsellor, Australian Home Affairs; and Annie Plews, Head of Cyber Policy, British Embassy. cc Alex Whitworth

Congressman John Moolenaar, Chairman of the House Select Committee on the CCP, gave a keynote speech reviewing the bipartisan legislative and strategic efforts underway to safeguard America's digital future. cc Alison King

Forgepoint Capital Managing Director Andrew McClure led a closing fireside chat with Alexei Bulazel, Special Assistant to the President, National Security Council, who highlighted top cyber priorities to defend the nation and advance the national interest. 

Thank you to all of our distinguished speakers and guests! 

The Forgepoint Capital International team- Damien Henault, Michael Cortez , and Jaime Goyarrola - co-hosted the Forgepoint Capital International / Eurazeo Growth AI x Cybersecurity Dinner and Debate with Alexandra Pederzani at the Royal Society in London.

Damien also spoke on the Frugal AI: Optimizing AI Infrastructure for Efficiency and Scale panel at Viva Technology in Paris in addition to discussing cyber resilience at the ISMS Forum CaixaForum in Madrid.   

Margin of Safety

Kathryn Shih and Jimmy Park research the practical sides of security and AI so that you don't have to. Subscribe on Substack.

Jimmy Park and Kathryn Shih released four more Margin of Safety posts:

• Margin of Safety #15: Klarna – What Happened? 

“Klarna’s trajectory—from trumpeting full automation to settling on human-AI collaboration—offers a cautionary tale. It’s not an outlier but a preview of what many enterprises are likely to experience.” 

• Margin of Safety #16: What’s the Git MCP issue? 

“As more teams adopt agentic workflows—plugging AI agents into Slack, Notion, GitHub, and more—we’re going to keep seeing these breakdowns. Especially when those systems rely on coarse-grained permission models—"Jimmy can access all of Engineering’s repos"—instead of scoped, task-specific credentials. The MCP-GitHub issue is just the first in a long line of similar cases that will emerge as agents become more embedded in development and operations.” 

• Margin of Safety #17: Wrappers vs Foundational Models 

“AI wrappers operate in a dynamic environment, constantly facing the risk of feature integration by larger platforms. However, the most successful startups will move beyond simple wrapping by systematically collecting, analyzing, and converting user behavior into distinct competitive advantages that foundational platforms cannot readily replicate.” 

• Margin of Safety #18: YC Spring 2025 Demo Day

"A notable uptick in AI-driven security startups points to growing interest in the space, likely due to the suitability of the space for automation and the growing pressures faced by security teams – as attackers scale operations, possibly with AI assistance, defenders are forced to keep pace."

Awards

• 1Kosmos was named an Overall Leader, Product Leader, and Innovation Leader by KuppingerCole Analysts in their new Leadership Compass Report on Identity Verification.  
• Huntress Managed SIEM won Best SIEM Solution at the SC Media Awards Europe.  
• Lumu Technologies was named a GigaOm NDR Leader and Outperformer for the third year in a row.  
• Lynx Tech was shortlisted for the PAY360 Awards 2025 in two categories, Best Initiative in Utilising Data or AI and Best Financial Crime Prevention Initiative or Solution. 
• Nudge Security was selected as one of Notable Capital and NYSE’s top 30 Rising in Cyber startups shaping the future of cybersecurity.  
• Qevlar AI won an MSP Today Product of the Year Award for its AI SOC Analyst for MSSPs solution.
• SPHERE was named a Distinguished Vendor in the 2025 TAG Security Annual for innovation in identity hygiene.  

Breakthroughs

• 1Kosmos achieved FEDRAMP High Authorization, the highest level of security compliance under the Federal Risk and Authorization Management Program.   
• Nudge Security launched the Nudge Security browser extension to extend real-time SaaS and AI security governance to the browser.  
• Rafay announced its integration in the NVIDIA Enterprise AI Factory validated design, a major initiative intended to accelerate the development of sovereign AI agents and AI factories. In addition, the company was highlighted as the go-to orchestration platform for sovereign AI clouds in a white paper by NVIDIA and Accenture. 

Insights

• Bishop Fox security researchers released a list of their top red team tools for 2025.
• Constella Intelligence CTO Alberto C. spoke about enhancing digital identity protection and combating cyber threats at the Google Cloud Summit in Madrid.  
• Converge Insurance appointed industry veteran David Kimmel as its new CFO.  
• CyberCube published the latest CyberCube Podcast episode featuring a discussion with Aviva about Portfolio Threat Actor Intelligence — a new threat modeling service designed to help insurers identify companies most at risk of being targeted by threat actors.  
• GetReal Security CEO Matthew Moynahan wrote about the Hiring Kill Chain in a step-by-step breakdown of how adversaries are targeting recruitment processes using GenAI and hard-to-detect deception tactics. 
• Huntress released an edition of the Huntress Newsletter exploring how to hunt down rogue apps to protect your identity perimeter. 
• Hyperproof shared the latest edition of its newsletter the proof, featuring the company’s latest insights and updates.  
• NowSecure and TAG Infosphere released a report Why You Can't Trust Public App Stores for Mobile App Security. 
• Qevlar AI launched a new podcast SuperSOC: Conversations with the People Shaping the Future of Security Operations. The first episode features a discussion on rethinking automation in the SOC.   
• RAD Security co-founder and CTO Jimmy Mesta 🤙 wrote an article titled The New Shadow IT: LLMs in the Wild for The New Stack. 
• ReversingLabs covered an ongoing supply chain attack hitting RubyGems in the latest Chainmail Newsletter.  
• SPHERE Chief Strategy Officer Rosario Mastrogiacomo showed why defining clear identity ownership is critical for mitigating risk, enhancing accountability, and streamlining compliance in a recent blog post.  
• Surefire Cyber Inc. released a deep dive on threat actor Silent Ransom Group. 
• Synadia shared the latest NATS Monthly newsletter featuring the latest NATS updates, community projects, and more. 

Events

• 6/23-6/25 | Hyperproof is hosting HyperConnect 2025 in San Diego. Register here.   
• 6/24-6/25 | CyberCube will be attending Re/insurance Outlook Europe 2025 in Zurich. Book a meeting with the team.  
• 6/26, 9-10am PT | ReversingLabs is hosting a live webinar Manifest Misconceptions-Closing the Gaps in SCA-Based SBOMs. Register here.  
• 6/29 | Tadaweb Global Engagement Manager Côme A. is presenting the findings of an in-depth investigation into a coordinated Chinese online influence campaign, live at leHACK in Paris. Session information and registration.
• ON DEMAND | Bishop Fox Senior Security Consultant Brandon Kovacs hosted a webinar Attacking & Defending Deepfakes: A Red Teamer’s Perspective. 
• ON DEMAND | SolCyber CEO Scott McCrady spoke with Converge Insurance CEO Thomas Kang in the latest episode of Security Shorts with Scott, discussing cyber insurance. 

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