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Cybersecurity investing hit an all-time high in 2020 with over $7.8 billion of checks written.
Investors are focusing on angel, seed, and early-stage rounds, aiming to get in on the ground floor.
Insider asked five plugged-in investors about key trends and their top startups in the sector.
The cybersecurity market is booming like few other sectors of investing. Venture capitalists poured more than $7.8 billion into the cybersecurity industry globally in 2020, setting a new record. PitchBook, the startup analyst company, estimated the overall value of cybersecurity startups in 2020 at $148.2 billion, and projected that figure to swell to $206.9 billion by 2024.
Silicon Valley Takes the Battlespace
Through an obscure startup named Rebellion Defense, former Google CEO Eric Schmidt attempts to buy his way into the Biden White House.
Days after winning the November election, Joe Biden announced the names of those staffing his transition. Big Tech landed prominent spots. Among the hundreds of personnel on the agency review teams serving the president-elect, there was one from Uber, two from Amazon, and one from Google. And then there were two people from Rebellion Defense, a shadowy defense startup.
The announcement sent Washington insiders scrambling to look up the company. No major defense contractors appeared on the list. âItâs sure odd that a year-old startup like Rebellion winds up with two employees serving on a presidential transition team,â Ken Glueck, the executive vice president of the tech company Oracle, told me.
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The $134.6 billion cybersecurity industry already went through a year of dramatic change in 2020 – and then the SolarWinds attack hit.
The sprawling supply-chain attack that hit federal agencies and thousands of businesses has accelerated key changes already underway.
The changes include a new approach of assume breach, in which companies search for intrusions constantly. Shift left, a trend of moving security to earlier in the development of new computer code and apps, is also speeding up.
Hiring for the 350,000 unfilled cybersecurity jobs will also have to accelerate, even as companies will turn to ethical hackers to probe their security.
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The SolarWinds cybersecurity attack will bring a seismic increase in spending in the $20 billion cybersecurity industry, analysts say. We believe there is a $200 billion dollar growth opportunity in cloud security up for grabs, one analyst wrote. It is a race against the clock for organizations to regain control over their environments, says another.
Experts say several sectors of cybersecurity are about to surge, including companies that address breaches, search for intrusions, and authenticate trusted users.
The companies that are about to spike include legacy companies such as Palo Alto Networks, and small startups like developer-security firm Apiiro.