Cybersecurity startups raked in $7.6 billion in VC money in 2017 - twice as much as the year before
- Venture capitalist firms invested twice as much money in cybersecurity startups in 2017 as they did in 2016.
- Venture firms invested $7.6 billion into such companies last year via 548 deals.
- Investors are following the money; corporations and governments are increasing their spending on cybersecurity amid growing concern about vulnerabilities and breaches.
Cybersecurity has repeatedly been in the news of late, and startups that specialize in it are raking in investments as a result.
Venture capitalists invested twice as much money in cybersecurity startups in 2017 as they did the year before, according to new data from CB Insights.
Globally, venture investors put $7.6 billion in cybersecurity companies last year, which was up from $3.8 billion in 2016, according to the research firm. The number of cybersecurity-related investments jumped to 548 in 2017 from 467 deals the year before.
Among those deals were several gigantic funding rounds.
Rubrik, based in Palo Alto, California, raised $180 million in April, giving it a $1.3 billion valuation, according to PitchBook. That same month, Illumio raised $125 million, boosting the valuation of the Sunnyvale, California, company to an estimated $1.2 billion.
With recent news about a security flaw that affects nearly every PC, smartphone and tablet in use and with high-profile security breaches such as those at Equifax and Uber looming over companies and consumers, it's no wonder there is a burgeoning market for cybersecurity products and growing interest in such companies among investors.
Global spending on cybersecurity was estimated to reach $83.5 billion in 2017, and that number could hit $119.9 billion in 2021, according to an IDC report from October.
Here's how venture investments in cybersecurity companies in 2017 compared to those of prior years:
Data provided by CB Insights
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- FSSAI in process of collecting pan-India samples of Nestle's Cerelac baby cereals: CEO
- 7 Nutritious and flavourful tiffin ideas to pack for school
- India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030
- Top 5 places to visit near Rishikesh
- Indian economy remains in bright spot: Ministry of Finance
- A surprise visit: Tesla CEO Elon Musk heads to China after deferring India visit
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market