Investors have been chomping at the bit so far in 2021, creating a record-breaking* 12 galloping Unicorns to fight global cyber criminals.
Most recently, the end of April saw Vectra AI join the club, winning $130M in their latest funding round and a valuation of $1.2B.
In other news, UK stallion Darktrace went public, after a very thorough examination of its dental records.
*“A record was set in the first quarter of 2021, with 12 cybersecurity unicorns created globally, which is more than double the previous quarterly ” PitchBook (Private market data provider)
Vectra AI, a cyber security, threat detection and response firm has announced an additional $130m round of funding.
Cambridge-based cyber security company Darktrace and its backers raise £165m in London debut.
Wiz raises $130 million series B to reach $1.7 billion valuation a year after its launch
The Israeli cybersecurity company has stayed ahead of the cloud revolution, refuses to be sold and has it eyes on some acquisitions of its own.
Google’s growth fund leads investment in the Tel Aviv-based cybersecurity firm set up 2 years ago by former execs of Check Point Software Technologies.
Cybersecurity asset management startup Axonius Inc. today revealed it has raised $100 million in new funding on a unicorn valuation of above $1 billion.
Snyk raises $150 million at $1 billion valuation for AI that protects open source code.
Lacework, a five-year-old cybersecurity company that automates security across enterprise cloud deployments, has reached unicorn status with the closing of a $525 million round of Series D financing.
These latest additions mean that there are now 31 Cyber Security Unicorns due to go public.
So what’s behind these huge valuations, is it set to continue – and what does it mean for the Cyber market in general?
Rather than dampen cyber spending, the rapid digitalisation caused by the pandemic has revealed worrying gaps in IT Infrastructure – further exposed by the accelerated move to Cloud and home working.
And it’s this exponential growth in demand that is causing investors to feel bullish and make sure they are on the right side of these major technological shifts.
Cyber is a huge growing market with healthy competition and – so far – few monopolies to keep a lid on sky-high valuations, so the trend certainly seems set to continue.