The past twelve months have seen a red hot market for information and cybersecurity as remote work poses myriad new challenges for companies to safeguard their communication and data across decentralized workplaces. From data privacy, to network vulnerabilities to creating secure virtual workplaces, the tech startups who have responded to these gaps in info security saw a boom in growth as well as interest from investors and potential acquirers. There has also been a massive increase in hiring within the industry as the top players compete for talent.
With the global cybersecurity market measured at more than $160B in 2020, the growth is poised to continue climbing as data breaches, hacks and online scams proliferate in both B2B and B2C markets. The COVID-19 pandemic has prompted an unprecedented uptick in cyber crimes with the FBI reporting a 300% increase in cyber crimes since the pandemic began. Here is a look at some of the top players in cyber and information security that are responding to the growing needs of companies shoring up their virtual vulnerabilities.
Co-founded by Paypal’s first head of US marketing, CapLinked has become known as a leading provider of virtual data rooms– secure spaces for document sharing, collaboration and review. Often employed by banks, law firms and investors, VDRs have become an indispensable tool in the M&A market as highly-sensitive transactions are completed by teams distributed around the world. The Wall Street Journal called CapLinked “the go-to place for setting up and closing deals”.
OneTrust provides an AI-driven data security and governance platform to help companies meet regulatory and compliance requirements. The company has raised more than $700M and has caught the eyes of many investors. The platform’s capabilities include privacy management, compliance review and more.
SpiderSilk is a threat detection platform with a proprietary internet scanner. TechCrunch recently reported on their pre-Series A raise of $2.25M from Global Ventures and STV. The startup gained renown for detecting some of the highest profile security breaches of late at major companies, including Samsung. Their platform offers razor sharp insights into vulnerabilities that help large firms mitigate security risks.
Duo Security isa leading provider of two-factor authentication for companies. Employees are now logging into work platforms from more devices than ever before and providing secure access has become critical to protecting privacy and data. Duo Security’s endpoint security solutions have been adopted by large organizations as they respond to the new demands of remote work and distributed teams.
Red Canary was founded in 2013 and has become a leading cybersecurity operations platform for SaaS companies. The firm raised $81M just last February as its clientele continues to grow amid the new needs for threat detection and response. Their technology aims to help companies increase the average response time to cyber threats by tenfold. Industries that previously under-invested in threat detection tools are increasingly ramping up their security efforts to respond to the ever-changing landscape of data breaches and network vulnerabilities.
Axionus is perhaps one of the best known cybersecurity asset management firms. With most IT teams managing a sprawling portfolio of assets with varying levels of security vulnerabilities and coverage gaps, Axionus provides a platform to map and oversee complex webs of assets and quickly assess and resolve weak spots. It’s become a critical tool for enterprises to uncover security vulnerabilities before they are exploited by bad actors.
Blu Bracket’s brand has become synonymous with code security. The platform reduces security risk during the software development process and is relied upon by developers and engineers. Blu Bracket recently made news for raising its $12M Series A round led by Evolution Equity Partners. The company launched in 2020 and has grown as code security has come to the forefront of the security industry.