According to a Gartner report, end-user spending for the information security and risk management market is predicted to become a $207.7 billion market by 2024. The cybersecurity industry has been experiencing rapid global growth for the past decade and, with many companies forced to transition to online, the pandemic only increased this urgency and the relevance of the industry. About 58% are seed-stage companies, 32% are in early stage, and 10% are in late stage. About 1,500 cybersecurity companies around the globe have received venture funding since 2017 and have not yet exited. Global venture funding for the cybersecurity industry hit an all-time high in 2020, reaching $7.8 billion. There are several common areas of cybersecurity, including, but not limited to: network security, cloud security, data loss prevention, intrusion detection, identity and access management, endpoint protection, and anti-malware. What is cybersecurity?Ĭybersecurity is the practice of defending systems from information disclosure and threats. In this report we take a look at how the cybersecurity venture capital scene has grown over the last decade, how it was impacted by the pandemic, and its outlook for 2021 and beyond. In turn, it also led to the rise of new cybersecurity startups poised to capitalize on the opportunity, and venture capitalists flooding the industry with new funding. This led to an increase in data and sensitive document transfers occurring in the cloud, and companies seeking increased protections against hackers and data breaches. With scattered workforces, complete digital adoption was no longer a choice, but a necessity. This is on pace to smash the 2020 record.Īs COVID-19 spread across the globe and many companies transitioned to remote work, the need for cybersecurity increased immensely. In 2021, over $3.7 billion in cybersecurity investments have been recorded globally so far.Just a few months into 2021, nine new cybersecurity unicorns have already emerged, well surpassing the 2020 record. 2020 recorded six new cybersecurity unicorns, a record for a single year at the time.Israel is the second leading country in the industry – over 20% of the country’s venture funding went to cybersecurity companies in 2020.recorded 76% of all global cybersecurity funding in 2020, at $5.9 billion. Investment in cybersecurity companies has increased more than ninefold since 2011.Despite the global pandemic, 2020 was a record year for cybersecurity investments with over $7.8 billion invested in the industry globally.
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