Revisiting the Cyber 150

Winners and losers

On September 5th we introduced the IT-Harvest Cyber 150, the fastest growing cybersecurity vendors with headcounts between 50 and 500. Each of them had grown at least 15% in headcount in the first half of 2024. As we approach the end of the year it is time to check up on these companies. Did they all continue to grow? How many received funding? Any M&A activity?

(I have reshared the entire list here. I had to take it down because last time I accidentally responded to a share request and granted somebody edit authority. They completely messed it up.)

We created the Cyber 150 list to demonstrate the value of the IT-Harvest Dashboard. Just using simple filters is it possible to identify rising stars? Let’s see:

In under three months since the awards, fifteen of the Cyber 150 have taken in new funding. These 10% have taken in a total of $993 million so far this year.

One, Dazz, has been acquired for a whopping $450 million. They are joining forces with Wiz.

34 companies have grown by more than 50% so far in 2024. These seven have more that doubled in size with Doppel leading the way.

Here is what Doppel’s impressive growth curve looks like.

Some other stats. 122/150 have grown 15% or more which was the qualifying metric for growth through July 1. That means the rest (28) have stopped growing or worse.

I won’t call them out here but you can look at the full list with growth-to-date numbers here. Do not interpret the seven that have actually dropped in head count as having a dramatic drop. This is actually an artifact in the way using LinkedIn data works. Think about it. When you get a new job you immediately let everyone know by updating your LinkedIn profile. But if you lose your job it is normal to avoid updating your profile, often until you have landed a new job. That means that the Cyber 150 as calculated in July included companies that had not actually met our criteria. As people found new jobs and updated their profiles this has begun to show.

We are going to recast the Cyber 150 list at the end of December for inclusion in Security Yearbook 2025. That way we can have a historical record of the best performing companies in cybersecurity. Looking at the database of 4,155 vendors there are only 136 that would qualify if we required 30% annual growth so we will have to drop that growth number. There are 217 that have grown 20% or more. We are also going to raise the upper limit from 500 to 630 to accommodate the two current Cyber 150 companies that grew from 500 to over 600 this year: Claroty and Safe.Security.

If you want to explore the current Cyber 150 you can sign up for free at dashboard.it-harvest.com where we have made available all of our data on these select companies.