More Up than Down in Cybersecurity
We recently completed ingestion of the March 1 head count data for the 3,767 vendors tracked in the IT-Harvest Dashboard. Having a database of all the cybersecurity companies means you can do things like that. :-)
There were 1,147 (30%) vendors that grew in the first two months of the year. There were 941 that decreased in size, or 25% of the total. Some, like Authomize, were acquired and employees change their affiliation on Linkedin. That leads to rapid declines. Delinea picked them up in Janaury.
Others, like Cybereason, are still struggling to contain costs. According to reporting from iSMG they are planning yet another reduction in force. The current flat line indicates that there has been little attrition since the last layoff.
Who were the big gainers in the first two months of 2024?
Israel based Nokod Security has been expanding steadily since taking in its $8 million in seed funding last year. 20% growth since January 1 for this company that protects enterprise use of nocode platforms.
ProcessUnity has seen an acceleration of growth this year, popping up 25% to 218 people for this risk management platform company. Possibly driven by taking first spot in the relevant Forrestor Wave.
Here are some more that grew close to 20% in the first two months of the year. Not to hammer the point home too strongly(See: 10 Cybersecurity Unicorns You Won’t Find in an MQ), but all of these are demonstrating that they have something to offer as they grow, attract customers, and get new investments. None of them are in the limited 144 covered by Gartner magic quadratns.
Overall my sense is that there are plenty of great cybersecurity solutions coming to market and the big aggregators are, as always, doing more to create new companies than they are to reduce the number of offerings.
If you want complete coverage of the entire cybersecurity industry talk to us. We would be happy to give you a demo of the only platform capable of doing so. Or see it in action in this Youtube video.
