Exciting Acquisition News: Zscaler Acquires Fund II Company, SPLX
In November, Zscaler announced its intent to acquire SPLX, one of Rain’s portfolio companies, a fast-growing AI security startup. SPLX focused on AI red-teaming initially, but later expanded to protect AI apps across the lifecycle. SPLX’s platform addresses issues like application vulnerabilities, mis-alignment, prompt injection, and agentic governance.
Dr. Wang with the SPLX founders, Kris Kamber and Ante Gojsalic at Blackhat’ 25
Chenxi discovered the young Croatian company earlier in the year and was impressed with their technology. Since our investment, the company has quickly grown, achieving 500% QoQ growth and getting attention from many Fortune 500 customers.
This acquisition helps to strengthen Zscaler’s position in AI-native security by integrating SPLX’s capabilities into its Zero Trust Exchange. It reflects growing enterprise demand for visibility and control over AI assets, and validates SPLX’s early leadership in this critical space.
Clover Secures $36M to Redefine AI-Driven Product Security
Also in November, Clover Security , another one of Rain’s portfolio companies, announced that it has raised $36 million in funding to accelerate its mission to deliver AI-native product security.
The new funding round was led by Notable Capital, with participation from Wiz co‑founders Assaf Rappaport and Yinon Costica, alongside executives from CrowdStrike, Palo Alto Networks, Atlassian, Google, Snyk, and Cato Networks. Rain Capital is one of the seed investors in the company. This strong roster of backers underscores confidence in Clover’s differentiated approach to product security — Product Security starts with Design, and Clover secures Designs.
Clover Security cofounders Or Chen (CPO) and Alon Kollman (CEO)
This round highlights the growing momentum behind security‑native operations. Rather than focusing solely on augmenting operations, Clover is building tools that integrate security into the very fabric of product engineering. This approach aligns with market demand for trusted products and lifecycle security, offering a potential competitive edge as enterprises and governments seek solutions that combine speed, resilience, and compliance.
Elisity Honored As Deloitte’s Technology Fast 500
Elisity, an intelligent micro-segmentation company, achieved an extraordinary 8,860% revenue growth from 2021 to 2024, earning its place as the #13 fastest‑growing company in North America on Deloitte’s 2025 Technology Fast 500.
This recognition underscores the strong market need for microsegmentation as a core Zero Trust architecture component, positioning Elisity as one of the fastest‑growing Cybersecurity firms in North America.
Elisity’s CEO, James Winebrenner, accepting the Deloitte Award
Elisity’s rise reflects a broader industry shift — enterprises are moving beyond legacy traditional NAC and perimeter‑based defenses toward dynamic infrastructure capable of stopping lateral movements in real time. By continuously mapping least‑privilege policies to users, devices, and workloads, Elisity enables organizations to adopt Zero Trust without costly re‑architecting or operational disruption.
Rain Capital congratulates Elisity for this prominent recognition. We look to great things to come in the future.
Dr. Wang Speaking At GCC Conferences
Dr. Wang recently spoke at Saudi Central Bank’s Innovation Summit and Black Hat Middle East & Africa, where she shared insights on AI and quantum computing risks. Her talks highlighted how rapidly evolving innovations in AI and quantum will reshape cryptography, identity, and systemic resilience, and why preparing for quantum-scale threat models must begin now.
With perspectives drawn from her deep technical work and venture experience across various industries, Dr. Wang engaged global leaders at these forums on what the next decade of cyber risk will demand.
Dr. Wang on the stage of Blackhat (L) and with the Vice Governor of Saudi Central Bank (R)
Astrix and Straiker Honored in Fortune’s Cyber60 list
We’re thrilled to share that two Rain Capital portfolio companies — Astrix Security and Straiker AI — have been named to Fortune’s Cyber60, a recognition reserved for the most innovative and impactful cybersecurity companies.
From securing machine-to-machine identities to building the next generation of AI defense, both companies exemplify the kind of deep technical excellence, category creation, and execution velocity we champion at Rain Capital. Their inclusion in Cyber60 reflects not only breakthrough products, but a relentless pursuit of solving some of the hardest problems in cyber.
Astrix Security is redefining Non-Human and Agentic Identity governance, offering granular visibility and control to mitigate service identity risks that often bypass traditional security perimeters. As organizations increasingly rely on interconnected cloud services, Astrix’s ability to detect shadow integrations and enforce least privilege policies is becoming mission-critical.
Straiker AI, meanwhile, is making waves in the realm of AI-driven testing and protection. Their platform secures agentic AI applications. Purpose-built for chatbots and multi-agent apps, it deploys autonomous defenses that work at agent speed. Straiker arms security teams with two essentials: continuous insight into how live agents behave under pressure and real-time guardrails that keep every agentic decision and tool call on track.
We congratulate Astrix and Straiker for this recognition. Both companies exemplify the kind of innovation that defines this year’s Cyber60 cohort: deeply technical, operationally relevant, and built for resilience.