Adrian Johnson
TLDR:
- Cybersecurity firms raised $2.3 billion in funding in Q1 2024 across 77 rounds.
- March saw a surge with $1.4 billion raised, the first time monthly funding surpassed $1 billion since February 2023.
In Q1 2024, cybersecurity companies collectively raised $2.3 billion in funding across 77 rounds, with a 20% decrease from Q1 2023. Late-stage rounds, particularly Series C and higher, showed improvement compared to most of 2023. Major funding rounds included investments in companies like Silverfort, Extrahop, Bugcrowd, Coro, Axonius, Nozomi, and Claroty, signaling positive prospects for the cybersecurity industry’s job stability within established companies. Overview of Cybersecurity Firms Raised $2.3 Billion in Q1 2024 Report.
Overview of Cybersecurity Firms Raised $2.3 Billion in Q1 2024 Report
According to Pinpoint Search Group’s Cyber Security Vendor Funding Report for Q1 2024, cybersecurity companies collectively raised $2.3 billion in funding across 77 rounds, a figure relatively consistent with the previous year’s first quarter but representing a 20% decrease from Q1 2023’s total. The report highlighted that March saw a surge, with $1.4 billion raised, marking the first time monthly funding surpassed $1 billion since February 2023. Late-stage rounds, particularly Series C and higher, showed improvement compared to most of 2023, signaling positive prospects for the cybersecurity industry. Mark Sasson, founder of Pinpoint Search Group, emphasized that despite the decline in year-over-year funding, early investments in later rounds bode well for job stability within established cybersecurity companies. Major funding rounds included investments in companies like Silverfort, Extrahop, Bugcrowd, Coro, Axonius, Nozomi, and Claroty.
Source: Security Week
