Venture capitalists are pouring money into cybersecurity companies, with high-profile data breaches still capturing headlines. Security companies supported by VCs in the United States generated a massive $1.77 billion in 2014, a figure higher than the previous record of $1.62 billion generated in 2000, according to statistics.
There is increased flexibility in the cybersecurity sector, with companies providing protection to consumers, corporations, hardware infrastructure, software, and specialized niche services.
As the Internet of Things (IoT) generates headlines for its beneficial flexibility for consumers, there is an underlying concern related to connected security. "It's a huge threat," said Alex Doll, founder of the TenEleven Ventures capital firm focusing on information security, in a statement to the Wall Street Journal. "It's great that everything is connected, but all that data is one click away" from being hacked.
Smaller security firms also are being acquired by larger companies at a fast rate, as more businesses appreciate the need for better cybersecurity platforms. Excitement regarding the booming cybersecurity market was prevalent at RSA, with a noticeable increase in vendors and companies promoting their wares.
Last updated: Apr 6, 2020 at 08:43 pm CDT
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