Global markets, including the technology sector, encountered significant declines in the first half of 2022 due to various macroeconomic challenges. Yet, the cybersecurity software industry continues to produce unicorns at an unprecedented rate.
The upsurge of cyberattacks on a global scale creates new addressable markets and opportunities for cybersecurity companies to tackle.
Atlas VPN predicts that if the upward trend’s growth momentum is sustained for the rest of 2022, the total number of new unicorns is well-positioned to reach an all-time high, dwarfing 2021’s 36 unicorns.
The data for the research was extracted from the Progress Partners Market Report for 2022 Q2.
In H1 2022, the cybersecurity industry produced 19 companies valued at $1 billion or more. Yet, the figures reveal that the digital defense market began to flourish in early 2021.
The number of cybersecurity unicorns grew from 6 in 2020 to 36 in 2021, representing a 500% increase YoY.
Global shifts towards remote work and online education were the main driving forces behind the market’s growth.
$1B+ Cybersecurity Exits
Besides valuations, $1B+ cybersecurity exits also reached an all-time high of 18 in 2021, representing a 2x growth over 2020.
In H1 2022, we have already witnessed eight $1B+ exits, and if the trend continues, the total for the year will be on par with 2021.