Attendees listen as the Startup Battlefield Competition takes place at Disrupt Berlin 2019. In the venture world, cybersecurity dealmaking remained resilient in 2020, despite the pandemic and a turbulent economic environment.(Noam Galai/Getty Images for TechCrunch)
Most industries saw a significant drop in venture capital investment at the seed and Series A stages throughout 2020. Cybersecurity appears to be the exception, according to a new report, with dealmaking remaining resilient, despite the coronavirus pandemic and a turbulent economic environment.
While the average number of seed and Series A investments dropped an average of 39.7% and 32% across all industries last year, they remained flat for the cybersecurity industry, according to a review of investment activity during fourth quarter 2020 byDataTribe. Mike Janke, co-founder of DataTribe, a tech and cybersecurity incubator that has backed companies like Dragos, told SC Media that the industry was already boosted by long-term trends toward digital transformation. The pandemic, and the switch to more decentralized operations, acted as an accelerator.