# Cris Neckar

> Cris Neckar is a seed investor at Two Bear Capital (Whitefish) backing Enterprise and Data Center. See 4 investments, check sizes, portfolio. Updated Aug 2026.

- Type: Angel Investor
- Fund: [Two Bear Capital](https://shizune.co/investors/profile/two-bear-capital)
- Location: Whitefish, United States
- Total investments: 4
- Last investment: Nov 2025
- Lead investor: 100%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/in/crisneckar
- Website: https://www.twobearcapital.com/team/cris-neckar

Cris Neckar is a Partner at Two Bear Capital, investing in cybersecurity and the intersection of technology and life sciences. With a strong background in the information security industry, Cris spends his time tackling complex challenges related to data sovereignty, sharing, and security.Previously, Cris served as the Chief Information SecurityOfficer for Spring Labs, a pioneering technology company known for its decentralized tokenization platform. His strategic leadership played a vital role in utilizing technology to address previously insurmountable data security issues.As the co-founder of Divergent Security, a top-tier offensive cybersecurity assessment firm, Cris was at the forefront of continual security assessment practices. By continuously identifying and addressing vulnerabilities, Divergent Security ensured robust cybersecurity for its clients. Notably, while at Divergent, Cris played a crucial role in the initial discovery and analysis of NSO Group's Pegasus spyware.Cris was one of the original members of Google's Chrome Security Team, where he contributed to advancements in the hardening of web browsers, attack mitigation technologies, automated and crowd-sourced vulnerability identification, and the discovery of malicious actions and campaigns. This work laid the foundation for Google’s Project Zero and Open Source Software Security Teams which continue to expose the actions of nation states and organized crime syndicates, bolstering online security.Cris began his career at Neohapsis (now Cisco Systems), where he served as a Senior Security Consultant and the Application Security Practice Lead. Managing a range of security services, he earned a reputation as a trusted expert and researcher. Notably, Cris led the team responsible for reverse engineering the malware and payloads associated with the breach of Heartland Payment Systems.Beyond his professional accomplishments, Cris commonly speaks at prestigious technical conferences, sharing his insights in the cybersecurity field. His research is highly regarded and frequently cited across the industry. Additionally, he has contributed as a longstanding curriculum advisory board member and adjunct professor for DePaul University's cybersecurity graduate school program, developing and teaching innovative courses on software security assessment and exploit development.

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Enterprise | 1 | 25% |
| Data Center | 1 | 25% |
| Cloud Security | 1 | 25% |
| Cyber Security | 1 | 25% |
| Developer APIs | 1 | 25% |

12 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Seed | 3 | 75% |
| Series A | 1 | 25% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Revenium | Revenium helps monetize AI workloads. It provides services to organizations to help them make AI usage governable and profitable. The platform provides real-time insights into AI usage and spend to help clients track trends and spikes in the financial sector. | $13.5M | Seed | Nov 20, 2025 |  |
| QuSecure | For years, security leaders have been told that preparing for post-quantum cryptography (PQC) would take years, cost millions and require deep in-house expertise. QuSecure Inc., the market leader in quantum-safe security, is proving otherwise with the launch of QuProtect R3, the industry’s first and only fully integrated, production-ready PQCplatform designed to make encryption modernization simple for everyone.With the platform’s Reconnaissance innovation, a complimentary module for qualified companies, QuProtect R3 delivers instant visibility into vulnerable encryption across modern, legacy and cloud systems — a capability competitors cannot match. Security teams that once spent months and millions compiling a cryptographic bill of materials (CBOM) can now discover their encryption landscape in days, prioritize the highest-risk systems and act without disrupting operations. | $28M | Series A | Feb 12, 2025 |  |
| Binarly | Binarly is a global firmware and software supply chain security company founded in 2021. The company’s flagship Binarly Transparency Platform is an enterprise-class, AI-powered solution used by device manufacturers, OEMs, IBVs and product security teams to identify known and unknown vulnerabilities, misconfigurations and signs of malicious codeimplantation. Binarly’s validated remediation playbooks have significantly reduced the cost and time to respond to security exposures. Based in Los Angeles, California, Binarly brings decades of research and program analysis expertise to build solutions to protect businesses, critical infrastructure, and consumers around the world. | $10.5M | Seed | Mar 26, 2024 |  |
| Dymium | Stealth Saas Startup | $7M | Seed | Mar 20, 2024 |  |

4 of 4 investments shown.

## Co-investors
- [Canaan Partners](https://shizune.co/investors/profile/canaan-partners) — VC Fund, 2 deals together
- [WestWave Capital](https://shizune.co/investors/profile/westwave-capital) — VC Fund, 2 deals together
- [Accenture Ventures](https://shizune.co/investors/profile/accenture-ventures) — VC Fund, 1 deal together
- [Acrobator Ventures](https://shizune.co/investors/profile/acrobator-ventures) — VC Fund, 1 deal together
- [Blu Venture Investors](https://shizune.co/investors/profile/blu-venture-investors) — VC Fund, 1 deal together
- [Cisco Investments](https://shizune.co/investors/profile/cisco-investments) — VC Fund, 1 deal together

## About Two Bear Capital

VC Fund · Whitefish, United States

Two Bear Capital invests in early-stage companies with disruptive innovations at the intersections of biotech, bioinformatics, machine learning / AI, and cybersecurity that deliver dramatically better solutions to the most critical problems affecting human health, security and wellness.

5 contacts available at Two Bear Capital.

| Name | Title | Profile |
| --- | --- | --- |
| Bridget Martell | Biotechnology Operating Partner | https://shizune.co/investors/profile/bridget-martell-69b6 |
| Cris Neckar | Partner | https://shizune.co/investors/profile/cris-neckar-a44f |
| Jeff Miller | Operating Partner | https://shizune.co/investors/profile/jeff-miller-6 |
| Jenna (Garr) Aronson | Principle | https://shizune.co/investors/profile/jenna-garr-aronson |
| Jennifer Howrigan | VP, Investor Relations | https://shizune.co/investors/profile/jennifer-howrigan-64b8 |

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## FAQ

### What does Cris Neckar invest in?

Cris Neckar invests primarily in Enterprise, Data Center and Cloud Security startups, most often at Seed and Series A stage. Most of the 4 investments tracked by Shizune back companies in United States. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### When did Cris Neckar last invest?

The most recent investment recorded for Cris Neckar closed in Nov 2025. Shizune tracks 4 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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