Monday, 23 August 2021 08:25

GlobalData predicts future cybersecurity unicorns

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Right from the network and data security to identity management and unified threat management (UTM), startups are offering cybersecurity solutions to identify vulnerabilities, thwart attacks, and secure networks. Against this backdrop, the Unicorn Prediction Model of GlobalData, a leading data and analytics company, has released a list of 50 cybersecurity startups that have the potential to become unicorns (>US$1bn).

Apoorva Bajaj, Practice Head of Financial Markets at GlobalData, says: “As we are entering the Code War era, where every digital device, no matter how small, can be ‘weaponized’ and cyberattacks are proliferating globally, investors are investing heavily to back cybersecurity startups. At the same time, the COVID-19 pandemic has offered tailwinds to the industry, as firms embraced a remote work paradigm with more applications and data stored in the cloud, a flurry of new threats is likely to emerge, making cybersecurity investment a necessity.”

GlobalData’s latest report, ‘Future Cybersecurity Unicorns – 18 August 2021’, reveals that in Q2 2021, the industry reported an investment of over US$8.1bn, spanning 209 deals globally. The report also highlights a spike in venture capital (VC) investments in cybersecurity startups in Q2 2021, majorly driven by startups like Transmit Security, Trulioo, and Forter raising funding in the range of US$300m to US$550m. In Q2 2021, North America accounted for over 58% deal volume followed by Europe (17%).

cybersecurity unicorns

Some of the cybersecurity startups in GlobalData's list of potential unicorns include BetterCloud, Guardicore, Deep Instinct, and Swimlane.

BetterCloud, a US-based SaaS Management Platform, enables IT professionals to discover, manage and secure the growing stack of SaaS applications in the digital workplace. The company recently launched BetterCloud Discover, a new centralized platform that gives enterprises insights into SaaS adoption, and visibility into full scope of sanctioned and unsanctioned applications within its multi-SaaS environment.

Guardicore, a startup offering cloud security solutions, is focused on delivering more effective ways to protect critical applications from compromise through visibility, micro-segmentation, and real-time threat detection and response.

Deep Instinct, a US-based cybersecurity solution provider, is leveraging deep learning and cybersecurity technologies. Recently, the company added new features and capabilities in its prevention-first solution, including increased resilience against adversarial machine learning attacks, credential theft protection, and malicious behavior reporting.

Swimlane, a cybersecurity automation solutions provider, assists organizations in handling all security operation (SecOps) requirements, including prioritizing alerts, orchestrating tools, and automating the remediation of threats. Recently, the company raised US$40m to accelerate partnerships and alliances, expand R&D, and enable further global expansion.

Mr. Bajaj concludes: “Increase in VC deals coupled with substantial growth in patents granted, along with positive news sentiments and growing mentions of cybersecurity in public company filings indicate that this technology is of considerable interest to both VCs and corporates. The COVID-19 pandemic is providing tailwinds to this industry, as companies are embracing remote work model. With cloud-based backup becoming the order of choice to save applications and data, a range of new online threats is likely to emerge, which will make investment in cybersecurity a necessity.”

  • Quotes are provided by Apoorva Bajaj, Practice Head of Financial Markets at GlobalData
  • The information is based on GlobalData’s Disruptor Intelligence Center 
  • Based on GlobalData’s Startup Scorecard ranking of 10,000 top startups, 126 Cybersecurity startups globally are shortlisted, of which 50 Cybersecurity startups are predicted to become future unicorns based on GlobalData’s proprietary Machine Learning Model.
  • GlobalData’s Startup Scorecard ranks startups relatively using quantifiable data on three pillars: Investments, Innovation and Market Presence to ensure that it is objective and can be comparatively measured across different sectors and themes
  • This press release was written using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData’s team of industry experts

About GlobalData’s Disruptor IC

GlobalData’s Disruptor decodes emerging tech-enabled opportunities with must-have information on promising start-ups, technology led innovations, latest sector trends, strategic partnerships, consumer insights, and venture capital portfolio investments among others.

About GlobalData

4,000 of the world’s largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData’s unique data, expert analysis and innovative solutions, all in one platform. GlobalData’s mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology and professional services sectors.

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