CB Insights provides information about venture capital, angel investor-backed startup companies, VC firms, and others. The platform has published a list of twenty-eight innovative cybersecurity startups that have the potential to create the most significant impact in the cybersecurity market. On a random selection, we will closely examine some of the names on the list worth your attention in 2021-2022.
This year has seen an increase in the number of online threats directed at government and commercial entities as the world shifted to a remote work model in reaction to the COVID-19 pandemic. Momentum Cyber reveals that Ransomware (malware that employs encryption to hold a victim’s information at ransom) increased 148%, with an estimated 2.9 million ransomware attacks so far.
We are seeing a perfect storm of factors coming together to create the most aggressive threat landscape in history for commercial and government organizations around the world.
Commercial and government companies realize the severe danger they face and spend heavily on cybersecurity technology to counteract it. By the end of this year, global expenditure on information security and risk management technology and services is expected to increase by 12.4% to $150.4 billion.
As an investor in the cyber market for over fifteen years, I can say that this market climate is unlike anything we’ve seen to date. It is encouraging to finally see CEOs, boards of directors, investors, and more paying serious attention to this space and putting the resources and capital in place to fund the innovations that address the cybersecurity challenges of today and tomorrow.
In the first half of 2021, total cybersecurity investments more than doubled compared to the same period last year, with investors committed $11.5 billion in total venture capital financing, up from $4.7 billion in the first half of 2020.
With the rapid increase in emerging technologies, cybersecurity evolves and grows in its ability to counter cyber threats and attacks. Here are some of the cybersecurity trends to keep in mind for 2022:
Cybersecurity awareness is becoming an essential measure for businesses to prevent identity theft and network hacks. Apart from implementing firewalls and complex IT protocols, many companies nowadays invest in enhancing the capabilities of their IT personnel through various courses and seminars and create policies that address how employees handle and disclose sensitive corporate information.
The top cybersecurity trend in the health care sector is data violations. Following COVID, some healthcare companies have loosened firewall policies to allow employees to work from home, thus allowing cybercriminals to lay their hands on sensitive information about workers and patients. The cybersecurity market in the healthcare sector is expected to reach $125 billion by 2025.
Financial Services Cyberattacks
Financial services is one of the sectors that face cyber threats daily. Phishing attacks in the financial services industry expanded beyond the traditional emails, with phishing via social media and other messaging platforms becoming one of the most common cybersecurity concerns in the financial services industry. Financial institutions are also vulnerable to data breaches and malware attacks.
Salt Security is an API protection technology platform that uses machine learning and artificial intelligence to prevent threats. Roey Eliyahu founded the company in 2016 in California, USA. Salt Security has raised a total of $131M in funding over five rounds, with the latest funding round closed in May. Salt Security is operating on .security extension domain name Salt.security, the .com seems to be registered since 2011 but there is no active site on it.
ISARA is a Canadian-based company founded in 2015 by Mike Brown and Scott Totzke. The company is a leading creator and provider of quantum-safe security solutions and services to protect vulnerable systems against quantum-enabled attacks. ISARA has raised a total of $26.9M in funding over three rounds. ISARA has chosen the exact brand match domain name ISARA.com.
Twingate provides modern, secure remote access to private resources to companies and their scattered workforces. Alex Marshall and Lior Rozner Tony Huie founded the company in 2019. Since then, Twingatehas raised a total of $17M in funding over one round. Twingate is operating on the exact brand match domain name Twingate.com.
Ermetic is a Palo Alto-based identity-first cloud infrastructure security platform that enables businesses to protect identities and data in the cloud by powering access policy definition and enforcement at scale. Ermetic has raised a total of $27.3M in funding over two rounds, with the latest one raised in July 2020. Ermetic has chosen the exact brand match domain name Ermetic.com.
Seventeen companies out of twenty-eight have chosen an exact brand match .com domain names.
Using a.com domain is the most reliable approach to ensure that a website will be found on the internet. Exact-match domains generate credibility, which is a significant advantage in a highly competitive industry such as cybersecurity.
Only two companies have chosen the .security domain name, a relatively new domain extension from XYZ.COM LLC and mainly created for businesses in the security area. Three companies have chosen the .ai extension domain name, popular with companies in the artificial intelligence industry.