Venture Capital Investments in Cybersecurity Kick Off Strongly in 2024

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Venture Capital Investments in Cybersecurity Kick Off Strongly in 2024

This week on cybersecurity from the editors of Cybercrime Magazine

Listen to the VC Cybersecurity Report Q1 2024

Sausalito, California – April 10, 2024

Reports of a major slowdown in VC cybersecurity deal flow are far from substantiated when looking at the first quarter of 2024, according to Steve Morgan, founder of Cybersecurity Ventures and editor-in-chief of Cybercrime Magazine.

“Cybersecurity companies that each raised $100 million or more in Q1: Coro, Nozomi Networks, Claroty, Axonius (which raised $200 million), Bugcrowd, NinjaOne (they raised over $230 million) , Silverfort and ExtraHop,” says Morgan. “That’s a billion dollars, not to mention a $300 million raise from Cyera to kick off the second quarter.”

Morgan notes that the first quarter of 2024 also saw a healthy dose of investments of more than $50 million in cybersecurity companies.

Richard Seewald, founder and managing partner of Evolution Equity Partners, one of the most respected names in the cybersecurity venture capital community, joined Morgan on the Cybercrime Magazine podcast. Seewald’s firm led or participated in numerous transactions to kick off the year, including Phosphorus Cybersecurity, Aqua Security, Oleria, Torq and Sweet Security.

“We won’t break records for venture capital investment in cybersecurity in 2024, but it’s still a growing market,” adds Morgan.

Listen to the VC Cybersecurity Report Q1 2024



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