Cybersecurity upstart Legion emerges from stealth with $38 million from Accel, Coatue, and others

s·Term SheetCybersecurity upstart Legion emerges from stealth with $38 million from Accel, Coatue, and othersBy Alexandra SternlichtBy Alexandra Sternlicht Legion's cofounders Eyal Fisher, Michael Gladishev, and Ely Abramovitch (from left to right).Ella BarakHey there, it’s reporter Alexandra Sternlicht filling in for Allie

Last week it was Microsoft who d that a China-sponsored cyberattack commised over 8,000 servers worldwide, including major banks, government entities, and health care companies that stored works in the software giant’s point duct

To combat attacks of this ilk, one upstart has raised a combined $38 million seed and Series A and is now emerging from stealth

Today, I’m sharing the news that alums of Microsoft cyber tection duct Sentinel have launched cybersecurity company Legion with $38 million in funding co-led by Accel and Picture Capital, with participation from Coatue and angel investors who work at companies including Google, Crowdstrike, and Wiz

That’s because this also marks the first public U.S. announcement of the venture capital firm helmed by cybersecurity heavyweights Michael Fey and Dan Amiga (cofounders of $4.8 billion cybersecurity company Island) as well Mickey Boodaei (CEO and cofounder of Transmit Security)

This is different from the most SOC nologies on the market Palo Alto Networks, Microsoft Sentinel, and CrowdStrike that largely detect threats via network, server, or other computing endpoint layers. “The blem was staring right at me every day,” Legion CEO and cofounder Ely Abramovitch told me via Zoom, reflecting on his nearly five years managing Microsoft Sentinel. “My customers had very little automation in place and were struggling…this was getting worse with AI at the hands of attackers with the scale and complexity of attack rising exponentially.” Seeing the failure of Microsoft and other enterprise nologies to meet the new crop of sophisticated and enormous attacks motivated Abramovitch and his Sentinel colleague Michael Gladishev to leave Microsoft, enlist machine learning expert Eyal Fisher, and start Legion in 2024

VENTURE DEALS- Ambience Healthcare, a San Francisco-based AI platform for documentation, coding, and clinical workflow, raised $243 million in Series C funding

Oak HC/FT and Andreessen Horowitz led the round and were joined by existing investors OpenAI Startup Fund, Kleiner Perkins, and Optum Ventures.- Salient, a San Francisco-based vider of AI-powered financial services nology, raised $60 million in funding

Andreessen Horowitz led the round and was joined by Matrix Partners, Michael Ovitz, and Y Combinator.- Teramount, a Jerusalem, Israel-based high-speed data transfer company, raised $50 million in funding

Koch Disruptive nologies led the round and was joined by AMD Ventures, Hitachi Ventures, and others.- Lumana, a Los Gatos, Calif.-based AI security company, raised $40 million in Series A funding

Wing Venture Capital led the round and was joined by Norwest and S Capital.- Calo, a Riyadh, Saudi Arabia-based personalized meal subscription company, raised $39 billion in a Series B extension

AlJazira Capital led the round and was joined by Oraseya Capital and existing investors Nuwa Capital, Al Faisaliah Group, and Khwarizmi Ventures.- Sparrow, a San Francisco-based employee leave management platform, raised $35 million in Series B funding

SLW led the round.- Arbital Health, a San Francisco, Calif.-based health care nology company that vides critical infrastructure for viders and payers to successfully manage risk-based contracts, raised $31 million in Series B funding

Valtruis led the round and was joined by existing investors Transformation Capital, Shaper Capital, and Healthy Ventures.- Reveal nology, a Bozeman, Mont.-based defense nology company, raised $30 million in Series B funding

Ballistic Ventures led the round and was joined by defy.vc, Booz Allen Ventures, Shield Capital, Next Frontier Capital, and Madison Valley Partners.- Wingspan, a New York City-based payroll platform for managing independent contractors, raised $24 million in Series B funding

Touring Capital led the round and was joined by existing investors Andreessen Horowitz, Long Journey Ventures, Distributed Ventures, Company Ventures, and 186 Ventures.- mptfoo, a San Francisco-based platform for AI red-teaming and security testing, raised $18.4 million in Series A funding

Insight Partners led the round and was joined by Andreessen Horowitz.- Seal Security, a Tel Aviv, Israel-based application security solutions vider, raised $13 million in Series A funding

Vertex Israel led the round and was joined by More Investments, SBI Group, and CCL.- ARX Robotics, a Munich, Germany-based defense nology company, raised €11 million ($12.7 million) in funding

Speedinvest led the round and was joined by HV Capital.- Trustfull, a Milan, Italy-based vider of frictionless fraud prevention nology, raised €6 million ($6.9 million) in funding

Seaya Ventures and Elevator Ventures led the round and were joined by United Ventures.- Caspian, a San Francisco-based AI-powered customs compliance company, raised $5.4 million in seed funding

Primary Venture Partners led the round and was joined by Blank Ventures. - JotPsych, a Pepper Pike, Ohio-based medical AI scribe, raised $5 million in seed funding

Base10 Partners led the round.- Retab, a San Francisco-based AI agent that builds document extraction pipelines, raised $3.5 million in pre-seed funding from VentureFriends, Kima Ventures, K5 Global, and angel investors.EXITS- CRH agreed to acquire Eco Material nologies, a South Jordan, Utah-based supplier of sustainable cement alternatives, from Warburg Pincus, One Equity Partners, and Green Cement Investments for $1.2 billion.- Clinisys acquired Orchard Software Corporation, a Carmel, Ind.-based vider of laboratory informatics solutions, from Francisco Partners

Financial terms were not disclosed.IPOS- WhiteFiber, a New York City-based AI infrastructure company, plans to raise up to $132.6 million in an offering of 7.8 million s priced between $15 and $17 on the Nasdaq

The company posted $56 million in revenue for the year ending March 31, 2025

PEOPLE- 645 Ventures, a New York City-based venture capital firm, moted Vardan Gattani to investment partner. - Stellex Capital, a New York City-based private equity firm, appointed Matthew Kajfez as Operating Partner - Supply Chain Transformation Lead.This is the web version of Term Sheet, a daily on the biggest deals and dealmakers in venture capital and private equity. for free.