The world has seen many technological advancements in the past few years. With these changes, cyberattacks are also becoming more rampant and sophisticated. These attacks prompt many cybersecurity startups to find and develop cutting-edge technologies to provide the online security the world needs.
There are over 3600 cybersecurity startups worldwide, according to IT-harvest, a cybersecurity vendor database. Of these startups, only 60 companies have achieved unicorn status (valued at over $1 billion).
In this article, we’ll look at 60 cybersecurity startups significantly impacting the industry.
🔑 Key Takeaways
- Only 60 out of over 3,600 cybersecurity startups worldwide have achieved unicorn status.
- Cybersecurity startup funding has decreased by 58% in Q1 of 2023, compared to Q1 of 2022, with notable funding going to companies like Lacework and Netskope.
- Notable cybersecurity startups are making significant strides in various categories, including threat detection, cloud security, access security, email security, endpoint security, and IoT security.
- Cybersecurity companies increasingly focus on cloud security, given the importance of protecting cloud-based infrastructure and data.
- The proliferation of IoT devices and the growing sophistication of cyber threats have led to the emergence of numerous startups specializing in IoT cybersecurity to protect these devices and their networks.
Overview of the 60 Most Notable Cybersecurity Startups in 2023
Cybersecurity startup funding has declined by 58% from Q1 of 2022. From 269 deals made in the first quarter of 2021, the number has dropped to only 149 deals made in the first quarter of this year. Some of the most notable funding made through the years include funding for California-based cybersecurity companies, Lacework and Netskope.
We looked at the significant achievements and technologies made by the companies we included in this list. Here is a quick overview of each cybersecurity startup’s total funding:
| Search: | ⏮️1-10 of 60⏭️ *Rank is based on total funding* |
| Rank | Company | Year Founded | Funding (in millions) | Funding Round |
| 1 | Lacework | 2015 | $1,900 | D |
| 2 | NetSkope | 2012 | $1,400 | Convertible Note |
| 3 | Snyk | 2015 | $1,200.00 | Late VC |
| 4 | Cato Networks | 2015 | $773 | Late VC |
| 5 | Clarity | 2015 | $635 | E |
| 6 | Armis Security | 2015 | $600 | Acquired |
| 7 | SandboxAQ | 2021 | $600 | Growth Equity VC |
| 8 | Illumio | 2013 | $557.50 | F |
| 9 | BlueVoyant | 2017 | $525 | Secondary Market |
| 10 | Aura | 2019 | $523.00 | Angel |
Best Cybersecurity Startups for Threat Detection
Businesses and organizations are exposed to different threats, such as data breaches, phishing, and malware attacks. These threats, if not remediated, can be costly.
Cybersecurity companies focusing on threat detection are fighting hard to combat these threats by developing different solutions. Below are some of the most outstanding cybersecurity startups regarding threat detection.
| 💡Good to Know! The global threat intelligence market is forecasted to grow to $18.11 billion by 2030, with a 20.40% CAGR. |
- BlueVoyant
BlueVoyant is a leading cybersecurity provider that uses internal and external defense mechanisms within a cloud-native platform. It provides a robust and comprehensive shield against cyber threats by constantly monitoring:
- Networks
- Endpoints
- Attack surfaces
- Supply chains.
The cybersecurity startup also provides a cutting-edge platform for identifying and validating potential risks, making it an excellent threat detection solution. They also partner with tech companies such as Metaquirk, Crayon, and Telstra to bring customers the most advanced technologies.
Awarded as the Security MSSP of the Year in Microsoft Security Excellence Awards 2023, BlueVoyant harnesses the power of machine-learning-driven automation to offer cybersecurity solutions to over 900 clients worldwide.
- Dragos
Dragos is a global cybersecurity company dedicated to protecting the world against the persistent threat of cyberattacks. By using gold-standard industrial control systems (ICS) and threat detection solutions, the company shields organizations and businesses against different forms of cyber attacks.
The startup company was founded by ICT/OT experts who have helped thwart cyber attacks for the US government and global enterprises. Dragos’s latest valuation is $1.7 billion, with over 500 employees under its care.
| 🎉 Fun Fact! Dragos was awarded Best Industrial Security Solution and Most Promising Unicorn in the 2023 SC Awards, a prestigious award-giving body in cybersecurity. |
- Reliaquest
Reliaquest is a cybersecurity company that uses its own security operations platform, Reliaquest GreyMatter, to help organizations gain increased visibility over their data. GreyMatter’s ability to automate detection, investigation, and response across an organization’s cloud has become one of the leading solutions in the industry.
Organizations can see what is required to protect their systems efficiently with Reliaquest’s GreyMatter. The company aims to provide users with an all-in-one solution for their organization’s security needs through measuring and managing risks. Reliaquest serves over 700 customers worldwide and has a team of 1000+ employees.
- Cylance
Cylance is an American software firm known for its exceptional work in cybersecurity. The company works with antivirus programs to protect businesses and organizations from viruses, malware, and cyber threats.
The platform uses AI to detect and prevent cyber-attacks proactively. Traditional solutions often rely on continually updated threat databases, but Cylance’s state-of-the-art endpoint security can detect threats and risks before they happen.
Cylance was a pioneer in the realm of cybersecurity AI. It replaced outdated antivirus software with preventative solutions. The company had a reported revenue of $189 Million in 2021 and is home to over 760 employees. Blackberry Limited acquired Cylance in February 2019.
- Darktrace
Darktrace uses a self-learning AI to know the ins and outs of an organization, learn the connections from every user and device, and use that information to combat potential threats. With technology innovations backed by more than 145 patents, Darktrace establishes new solutions to the ever-evolving threat in cyber security.
The company also partners with notable companies such as Cisco, Dropbox, Crowdstrike, and Google to provide organizations with an efficient investment return. It is also recognized by independent bodies such as Gartner, Forrester, and Marsh for the platform’s AI capabilities.
Darktrace is a colossal cybersecurity company with an annual revenue of about $415.5 Million in 2022. They also have over 2000 employees and are a part of the FTSE 250 Index.
- Nozomi Networks
Nozomi Networks is a USA-based cybersecurity startup focusing on OT & IoT security. Its security platforms use network and endpoint visibility, advanced threat detection, and AI-powered data analysis to help organizations and businesses take control of their critical infrastructure.
Nozomi Networks works with different brands from various industries, such as:
- Pharma
- Oil
- Gas
- Mining
- Utilities
Organizations and businesses can access advanced cyber security and simple IT/IoT integration through Nozomi Networks.
Some notable customers include Accenture Security and Venture Electric. Currently, the company’s valuation is about $400-600 million.
With the Nozomi Networks solution, companies immediately gain OT network monitoring and threat detection technology that can be integrated with Accenture’s security services and solutions.
–Luis Luque, Managing Director, Accenture Security
- Cyera
Cyera has a data security platform that uses AI to provide organizations with a comprehensive solution to their cyber security needs. The platform analyzes the organization’s data and deploys the necessary protection controls. It covers SaaS, PaaS, and IaaS environments and provides remediation workflows to ensure that the risk of an attack is reduced and that the cloud is resilient to any possible attack.
The platform helps businesses discover and classify sensitive data and protect it. It then provides specific access controls, identifies misconfigurations, and generates new policies for data security. This way, compliance is ensured, and sensitive data access is well-controlled.
The company has over 100 employees and is forecasted to double in size in 2023. Cyera’s latest valuation is at $500 Million.
- Stellar Cyber
Stellar Cyber uses an Open XDR platform that helps deliver detection and response by letting organizations integrate any data source into the platform. This will then be correlated with seemingly disparate data points to uncover multi-vector attacks.
The startup company has added my other features over the years, including a Threat-Hunting App, an Entity Behavior Analytics App, a Firewall Traffic Analytics App, and a Data Streaming App.
According to The Silicon Review, Stellar Cyber is looking to continually improve its existing tools and include more AI to ensure its customers get the maximum protection from cyber attacks.
VCs fund Stellar Cyber, including Valley Capital Partners, Big Basin Partners, SIG-Susquehanna, and Northern Light Venture Capital.
| 🗒️ Open XDR vs. Native XDR The main difference between Open XDR and Native XDR lies in their approach to integration and vendor flexibility. Native XDR relies on a single vendor’s technologies. At the same time, Open XDR takes an open approach, allowing security teams to choose from multiple vendors and tools and enabling integration with existing security investments for more comprehensive threat defense. |
- Stairwell
Stairwell uses AI-based analysis to equip organizations and businesses with cybersecurity solutions. The company boasts of its cost-efficient, continuous static and dynamic analysis and YARA at scale, which helps reveal threats in the system.
Stairwell’s platform analyzes files repeatedly to ensure new and suspicious activities are detected and solved in minutes. It creates a tailored defense for the organization to ensure attackers cannot reverse-engineer the solution.
The company’s current valuation is estimated at around $180-270 Million, and its product is now available on Google Cloud Marketplace.
| 📖 What are YARA rules? YARA rules encapsulate human analysis, transforming it into specialized code syntax. They represent a means of encapsulating and preserving human-derived insights and expertise related to threat actors, malicious software, or intricate technical data attributes. |
- Anvilogic
Anvilogic is a modern cybersecurity company focusing on threat detection, investigation, and incident response (TDIR). It utilizes a cloud-based security platform that optimizes the detection, hunting, and triage. The organization’s cloud can efficiently respond to threats and security data leaks by doing so.
Anvilogic’s SOC platform is used by huge brands worldwide, including PayPal, eBay, and First Citizen’s Bank. According to their website, customers experience up to 80% cost savings and save thousands of hours in building, deploying, and maintaining detections. In 2023, the company launched a generative AI-based co-pilot to provide a conversation interaction within the platform. It also aims to double its customer base within the year.
Anvilogic’s investors include VC firms such as Neuberger Berman, G Squared, Foundation Capital, Cervin, Xerox Ventures, and Point72. Its latest valuation is estimated to be at $100-150 Million.
- Cyble
Cyble is a known cybersecurity provider that helps organizations and businesses detect, analyze, and neutralize cyber threats efficiently. It offers threat intelligence, deep web monitoring, attack surface management, vulnerability management, brand intelligence, and a takedown and disruption solution to combat online fraud.
In 2023, Cyble was awarded as one of the fastest-growing cybersecurity companies in North America by the Cybersecurity Excellence Awards. They also garnered nine wins at the Global InfoSec Awards 2023, including Editor’s Choice for Cybersecurity Startup.
The cybersecurity company received a $24 million investment through Series B funding. This funding round was co-led by Blackbird Ventures and King River Capital. The current valuation of Cyble is estimated to be $104-156 million.
- ThetaRay
ThetaRay is a cybersecurity company focused on artificial intelligence and big data analytics. It helps organizations and businesses develop durable and resilient protection for their data through advanced analytical solutions. It enables clients to manage risks, uncover fraud, and avoid money laundering schemes.
The AI-based anti-money laundering (AML) platform helps financial organizations scan and identify suspicious transactions. The company also announced the release of its flagship SONAR advanced SaaS AML platform in 2022.
ThetaRay partners with Microsoft, Deloitte, Cosa, and KPMG to protect financial institutions through early threat detection and risk management. The company’s valuation is estimated at $228-342 million in 2023.
| 📖 What is Money Laundering? Money laundering involves concealing the profits from unlawful activities to make them appear as legal assets. This illicit practice poses a significant threat to the integrity of financial systems and the overall economy. |
Best Cybersecurity Startups for Cloud Security
Businesses and organizations must protect their cloud to be resilient after a cyber attack. A secured cloud can also help companies back up essential data. Cloud security is a category of cybersecurity that helps organizations protect cloud-based infrastructure, applications, and data.
Because cloud security is becoming increasingly important for businesses, many startup companies also focus their services and products on this.
| 🎉Fun Fact Cloud Access Security Brokers, CASBs, which debuted in 2012, initially introduced the concept of providing visibility into the precise whereabouts of cloud-based data, enhancing its security within cloud services, and implementing access controls. |
Here are some of the most notable cybersecurity startups for cloud security over the years:
- Lacework
Lacework is a cybersecurity company that provides visibility to businesses and organizations through its Polygraph Data Platform. This platform analyzes the environment of the business and how it’s supposed to run. If there’s any deviation, the platform will send out an alert.
Lacework monitors data and gives the customer an insight into what is happening across their cloud. It implements behavior-based threat detection to monitor for cloud noncompliance or vulnerabilities continuously.
The company has had the most significant funding round in the history of the security industry, with almost $1.8 billion raised and a current company valuation of $8.3 billion. The most prominent investors of Lacework are the following:
- Sutter Hill Ventures
- Altimeter Capital
- Liberty Global Ventures
- Snowflake Ventures
- NetSkope
Netskope is a Cloud-based zero-trust service that provides security for businesses and enterprises. It helps simplify security operations by securing access to applications and data in IT environments.
Netskope partners with big tech companies such as Microsoft, Crowdstrike, Mimecast, and Okta. They also have a team of experts who must meet Netskope certification, customer deployment, and customer satisfaction to qualify for their partner program.
The company has over 2,000 customers worldwide, including more than 25 of the Fortune 100. Netskope’s lead investors include Morgan Stanley, Goldman Sachs Asset Management, and CPP Investments. Netskope raised around $401 million on its latest funding, raising its valuation to $7.5 billion.
- Snyk
Snyk uses a developer security platform that secures codes, open source dependencies, and IaC. It is powered by the company’s Deepcode AI, which gives the platform the power to find and fix any vulnerabilities in the cloud. The DeepCode AI combines different ML methods and symbolic and generative AI to ensure accuracy.
The Snyk platform is trusted by millions of developers worldwide, such as Google, Salesforce, Twilio, and Revolut. Snyk can help secure code as it’s written, keep base images secure, and fix misconfigurations in the cloud.
The company has 1,400 employees as of 2022 and an estimated valuation of $104-156 million in 2023.
- Traceable AI
Hackers are becoming more sophisticated in their techniques because businesses are migrating applications to a cloud-native architecture. Traceable uses advanced ML-powered behavioral analytics, cloud-native integrations, and distributed tracing to deliver API and application security.
Traceable provides its services to notable companies such as FalconX, Lemonade, Informatica, and Ethos. The platform identifies all the company’s APIs, evaluates the risk, and helps them prevent these attacks. They also offer analytics for threat detection and forensic analysis.
The company is awarded the 2023 Fortress Cyber Security Award and is the 2023 Globee Awards Gold Winner for Information Technology. The company’s current valuation is estimated to be around $450 million in 2022.
- Semgrep
Semgrep is a cybersecurity startup that provides a free, fast, open-source, static analysis engine for detecting threats and enforcing code standards. The company uses a cloud platform that protects applications, secret leaks, and dependencies.
The platform can be integrated with different source code management (SCM) and continuous integration (CI) tools such as GitHub, GitLab, and other similar tools. It can also allow the user to manage and filter the findings. Other products of Semgrep include:
- Semgrep code
- Semgrep Supply Chain
- Semgrep Pro Engine
The platform also supports:
- C#
- Go
- Java
- JSON
- PHP
- Ruby
- Scala languages
The company’s current valuation is around $210-$320 million. Its investors include Lightspeed Venture Partners, Felicis Ventures, Redpoint Ventures, and Sequoia Capital.
| 💡 Good to Know! Semgrep is syntax-agnostic, which means it can analyze code written in multiple programming languages. This versatility makes it a valuable tool for cybersecurity professionals working with various codebases. |
- Mitiga
Mitiga is a cybersecurity platform known to be the developer of IR2, the most comprehensive SaaS and CIRA Platform in the industry. This platform is designed to continuously hunt for developing attacks based on Mitiga’s cloud attack scenario library (CASL). This library is the first and only database focused on finding and fixing cloud and SaaS multi-vector hunts.
The company helps businesses and organizations keep their cloud architecture ready and resilient to any threats. With their IR2 platform, businesses can gain complete visibility into their cloud and SaaS logs and see the details of the incident in a simple UI.
Mitiga’s IR2 platform also uses the Amazon Web Services Glacier to provide users with efficient cloud data archiving and retrieval. The company’s $100 million valuation was backed by huge investors such as:
- Samsung Next
- Cisco Investments
- Blackstone
- ClearSky
- Glilot Capital Partners
- Grip Security
Grip Security is a cybersecurity company that offers Software-as-a-Service (SaaS) risk management solutions. The platform performs an agentless, identity-based discovery process to detect threats and attacks. It also integrates user profiles and access behaviors to understand SaaS identity risks. This also helps organizations clearly understand how to prioritize and mitigate the threat.
Grip Security’s products, SaaS Security Control Plane and SaaS Access Control, can help organizations through different use cases. They can help discover rouge cloud accounts, mitigate SaaS sprawl risk, integrate the Security Control Plane to streamline operations, and many others. They offer a risk assessment option for businesses and customers interested in trying their platform.
The company partners with TachTech, Insight, EvoTek, Presidio, Consortium Networks, and First Health Advisory. Its valuation is estimated at around $164-246 million.
- GitGuardian
GitGuardian is a cybersecurity startup that provides businesses and organizations a solution to cyber threats through source code. They prevent coded secrets from infiltrating the organization’s cloud and supply chain while also focusing on strengthening the cloud infrastructure by detecting and removing those hardcoded secrets.
Cyber attackers are prone to attacking software supply chains because of the information they hold and how one breach can compromise the whole network of organizations. The platform scans IaC templates against security policies that cover the network, permissions, and sensitive data exposure.
GitGuardian’s platform is trusted by other security leaders, such as ActiveFence, Beyond Identity, 66 Degrees, PayFit, Roadpass Digital, and Safety Culture.
The company’s valuation is estimated at around $175-265 million.
- DoControl
DoControl is a Software as a Service (SaaS) startup that aims to provide businesses and organizations with a comprehensive cloud security solution. Because technology is a fast-changing industry, it’s also essential for businesses to protect their data from cyber attackers’ sophisticated techniques.
The platform permits organizations and businesses to control and monitor cloud data through customized and scalable SaaS security solutions. It also provides the user’s visibility into precisely who accesses data and where it goes.
Some notable security teams that use DoControl are Crowdstrike, Cata, Armis, Datadog, Samsung Next, and Grammarly. The company’s recent valuation is estimated at $120-180 million.
- Britive
Britive is an Indian cybersecurity start-up that helps businesses automate granting and revoking access to the cloud infrastructure, apps, and data that prevents breaches and operational inefficiencies. The company’s patented Just-in-Time (JIT) cloud access helps organizations eliminate risks so clients can focus on other opportunities that multi-cloud environments provide.
The platform assists with faster cloud and SAAS adoption, cloud app development, and cost-effective operations. It also helps businesses decrease the time they need to manage their data, apps, and resources in the cloud.
The company partners with different companies such as Amazon Web Services, Okta, Lacework, Snowflake, Salesforce, Guidepoint Security, Katalyst, and many others. The company’s valuation is estimated to be $80-130 million.
| ❓ Did you Know Britive has received a patent (U.S. Patent 11770382-B1) from the US Patent and Trademark Office for a technology that offers secure cloud-native access management, matching the dynamic nature of cloud environments. |
Best Startups for Access Security
Access control is a part of data security that gives access to and uses company information and resources. Access security companies provide businesses and organizations with authentication and authorization platforms and help them ensure that whoever is accessing data is who they say they are.
Access control startups help businesses mitigate the risk of information being accessed without authorization. Below is a list of the most promising cybersecurity startups for access security in the market:
- Authomize
Authomize is a SaaS company that uses its Identity Threat Detection and Response (ITDR) platform to provide organizations and businesses the security they need to protect their access infrastructure. The platform monitors risks, threats, and discrepancies to respond effectively and consistently.
The company partners with different solution providers to give customers the best Authorization Security Management solutions. Their partners include:
- Amazon Web Services
- Microsoft
- Okta
- Ping Identity
Authomize’s current valuation is around $60-100 million.
- Privafy
Privafy is a cloud-native SaaS that provides organizations the security they need while helping them grow without paying for additional expertise or resources. It provides access security for remote workforces and can be easily integrated into Android, iOS, MacOS, Windows, and Linux.
The company partners with systems integrators, Managed Security Service Providers (MSSP), Managed Service Providers (MSP), Distributors, and Internet Service Providers. They offer various products that help businesses ensure access control and data protection in minutes.
Privafy’s valuation in 2020 was estimated at $88-132 million.
- Evervault
Evervault is an “Encryption as a Service” infrastructure helps encrypt sensitive data before it gets sent to other devices. It features a dual security model for encryption and a diverse set of products that can adapt to any solution. The platform also provides encryption and decryption operations with minimal latency and helps developers spend less time and resources on compliance and securing data.
The cybersecurity startup offers solutions such as PCI compliance, Crypto Custody, Credentials encryption, and PII encryption. has a lot of notable customers, such as:
- Okra
- Bridgecard
- Visa
- Vital
- Ness
Evervault is estimated to be valued at $60-100 million.
- Truora
Truora is a global cybersecurity company that provides digital security, focusing on access control and access security. The company provides solutions for:
- Validating background checks
- Digital identity validation
- Creating automated chatbots and electronic signatures
The platform’s digital identity validation helps brands automate and simplify verification and ensure they can access the device or account efficiently. It provides an efficient email, phone, and ID document verification solution. The platform also has a facial recognition feature that can be easily integrated into API, Web, and WhatsApp.
The company has over 15,000 clients, including the Latin super app Rappi. It also partners with Hubspot, Zendesk, and Meta—their partnership with Meta has solidified their growth in Latin America.
- SnapAttack
SnapAttack is a cybersecurity startup that provides a first-of-its-kind, cloud-based software platform for businesses to stay ahead of cyber threats and create robust behavioral analytics for existing tools. The platform simplifies the detection for existing tools and the manual research process by streamlining an attack’s research, writing, validation, and deployment.
The company is trusted to provide access control and security for enterprises, MSSPs, and the public sector. It also partners with brands such as:
- Crowdstrike
- Microsoft Defender
- Red Canary
- Snowflake
SnapAttack’s investors include big venture capital names such as Volition Capital, Booz Allen Hamilton, Phase 2 Investments, and Strategic Cyber Ventures. Its current valuation is estimated to be $30- $45 million.
- Securden
Securden is a cybersecurity company providing privileged access control and security. The platform provides solutions for preventing identity theft, malware propagation, cyber attacks, and insider exploitation. Their products include a password vault for enterprises, an account manager, and an endpoint privilege manager.
The platform has a Zero Trust Security Architecture that helps enforce multi-factor authentication, control applications, and audit and monitor usage. It also provides secured remote access without the use of a VPN.
Securden is used by businesses from various industries, such as:
- 20th Century Studios
- Trimble
- Harvard Medical School
- Sydney Opera House
- Security Federal Bank
- BastionZero
BastionZero is a cybersecurity startup that provides management solutions and remote access to a cloud infrastructure. The platform delivers cryptographic, multi-root zero trust access to businesses and organizations so they don’t have to deal with passwords, VPNs, and SSH keys.
The platform is also automatically integrated with the existing SSO. This way, the user can access their targets in any cloud. It also partners with Azure Active Directory, Google, and Okta to provide the user’s SSO additional security.
The company’s valuation was estimated to be around $24-36 million in 2022.
- Ubiq Security
Ubiq Security is a cybersecurity company that provides businesses with an easy-to-use, developer-first, encryption-as-code platform for access security. The platform aims to minimize the threat of data theft, optimize resource allocation, and create compliant and secure applications.
The cybersecurity company’s platform helps with breach risk reduction, cloud data protection, data encryption, and many others. It was designed to ensure that security teams can integrate application-native data encryption more seamlessly.
The company’s leading investors include Cove Fund, Okapi Venture Capital, Volta Global, OCA Ventures, and TenOneTen. It is also a partner of AWS, Axis Communications, and Hitachi, among many others.
Ubiq security’s current valuation is estimated at $25-40 million.
- Wabbi
Wabbi provides a continuous security platform for businesses to integrate security seamlessly into their day-to-day operations. Its vulnerability management and secure release management features work to categorize risks, implement solutions, and assess vulnerabilities. The platform also converts security policies into processes so the business can ensure consistent deployment and execution of application security.
Wabbi is a growing startup company with investments from global companies such as:
- Cisco Investments
- Emmeline Ventures
- Mendoza Ventures
- Work Bench
- Mendoza Ventures
In 2021, the company’s valuation was estimated at around $7- $15 million.
Best Email Security Cybersecurity Startups
Email security is essential in protecting companies from outside threats. With the advent of remote and hybrid work, emails and other communication platforms have become a massive part of our daily operations. However, cyberattackers are also becoming more sophisticated and advanced.
Many cybersecurity companies are focusing on the importance of protecting emails and other communication platforms. These startups develop different solutions to protect businesses from email attackers.
Here are some notable cybersecurity startups for email security:
- Material Security
Material Security is a cybersecurity platform that provides companies with a durable and efficient security infrastructure, especially for Microsoft 365 and Google Workspace. They’ve extended their Zero Trust security to email inboxes using the APIs of cloud email, single sign-on, and multi-factor authentication. Their products include:
- Data protection
- Phishing protection
- Posture management
- Identity protection
The platform has been designed to integrate with Microsoft 365 and Google Workspace in minutes without any network changes or zero downtime. The customers can also pick a model that works best for their organizations. They can have their cloud managed by Material fully or partially, or the customer can keep their data from Material, and the platform will only provide updates and support.
Material is also used by global brands such as Lyft, Brex, Doordash, and Fox. Its valuation was estimated to be at $1.1 billion in 2022.
- Huntress Labs
Huntress Labs provides a simple platform for organizations to protect their endpoints, emails, and employees. The Huntress Managed Security Platforms are specially designed for 24/7 operation monitoring and fully managed detection and response against cyber threats. It helps detect when attackers bypass security tools, analyze SOC reviews 24/7, respond to threats and isolate endpoints, and report detailed summaries.
The platform is a leading provider of advanced threat detection and information on how to remediate attacks. It can also help businesses protect their clients from threats and provide easy-to-understand incident reports.
Most of the Huntress Labs platform users include SMBs and IT experts, estimated to be around $70-110 million.
| “These businesses are the backbone of our global economy – but don’t have the time or money for in-house teams to protect them. Huntress is purpose-built to demolish hackers looking to wreak havoc on SMBs.” – Kyle Hanslovan, CEO of Huntress Labs |
- Agari
Agari is a cybersecurity startup of Fortra, a software solutions company. Agari’s Email Security provides enterprises with durable protection against phishing and BEC Attacks worldwide. The platform fortifies an enterprise’s security against email and other cyber attacks.
There are four main products under Agari – Phishing Defense, Phishing Response, DMARC Protection, and Active Defense. These products help businesses authenticate emails for better detection and threat intelligence.
Agari provides security solutions to various industries, such as financial institutions, government agencies, and healthcare. They also partner with Chevron Federal Credit Union, United States Postal Service, and Google.
- Mimecast
Mimecast is a cybersecurity company that provides cloud-based email management for Microsoft Exchange and Microsoft Office 365. Because email is one of the top attack vectors, Mimecast focused on providing enterprises with solid protection against the most sophisticated attacks. The platform prevents phishing, ransomware, social engineering, and impersonation.
Mimecast’s email security and resilience platform has different solutions for different industries. Some notable companies that use Mimecast include Vodacom, Service Now, Dole, Michelin, and Scientific Games.
The cybersecurity startup has over 2,000 employees worldwide with 40,000 customers in more than 100 countries.
- Redsift
Redsift is a cybersecurity startup that provides a platform for enterprises to monitor their email, domain, and web attack surfaces. This helps the brand prevent impersonation and better protects the organization’s perimeter. The platform lets the client see the outbound emails and boosts email deliverability rates.
Different business leaders, such as Bitcoin, Rentokil Initial, Zoominfo, and TalkTalk, use Redsift’s platform. It can also easily integrate with popular SOAR, SIEM, and email-sending services. Notable brands that can be integrated with Redsift include Slack, Cisco, AWS, and Gmail.
The company was estimated to be valued at $215-325 million in 2022.
- Perception point
Perception point provides businesses with a platform for all-in-one threat prevention across different business channels, including email, CRMs, messaging, and cloud storage. Its Advanced Email Security platform helps businesses fight phishing, malware, impersonation, and BEC attacks.
Over 3.4 billion daily phishing emails are sent every day. Perception Point’s platform can target email phishing through its in-house image recognition engine and block other email-based attacks. It can also turn an email into smaller units to thoroughly scan it and detect discrepancies immediately.
The company partners with leading technology brands such as Crowdstrike, Microsoft, Salesforce, and AWS.
- Egress
Egress is a cybersecurity company known for its Intelligent Email Security Platform. This platform helps businesses detect and prevent inbound and outbound email threats. Using AI models and a zero-trust approach, the platform can detect the system’s full spectrum of cyber threats.
The platform continuously assesses any human risk while adapting policy controls. This can help prepare customers to defend against advanced phishing attacks and expensive data breaches.
Egress partners with different companies to ensure a sturdy email security infrastructure. These companies include Sophos, IBM, Splunk, Android, Salesforce, Apple, and Microsoft.
- Armorblox
Armorblox is a cybersecurity firm that provides organizations with an AI-powered platform to protect their email and other cloud office applications. Using Natural Language Understanding (NLU) and advanced learning models, Armorblox’s platform helps users fight against cyber threats in the human layer.
Many teams use Armorblox for email security because it can be easily integrated with existing tools and platforms for security. The platform is also used by different industries worldwide. These industries include financial services, education, healthcare, retail, and manufacturing.
Some notable companies that use Armorblox include Google, Microsoft, Slack, and Okta. Armorblox was also recently acquired by Cisco.
Best Startups for Endpoint Security
Data is significant for every company. This is why protecting endpoint devices is very important. Endpoint detection and response (EDR) solutions can help organizations find malicious activities and spyware that threaten essential data.
Many cybersecurity startups focus on endpoint security because cybercriminals are finding more sophisticated ways to infiltrate businesses. According to Tracxn, there are currently 1,251 companies focusing on endpoint security.
Below are some of the outstanding cybersecurity startups in the industry:
- Aura
Aura is a cybersecurity company that offers users a unified endpoint security solution. The platform helps organizations prevent identity theft, manage risk, and provide alerts. It also helps businesses fight off malware, spyware, and ransomware.
Aura’s platform helps stop viruses in their tracks using AI-powered safe browsing that can help block dangerous sites. It can alert the users whenever suspicious files are found in the system. The user can then review or delete the quarantined files.
Aura is featured on USA Today, Bloomberg, and Forbes. The company’s valuation is at $2.5 billion in 2021.
- Crowdstrike
CrowdStrike is a leading cybersecurity company known for its cloud workload, endpoint security, and other cyberattack response services. The company’s AI-native Falcon XDR platform helps businesses streamline processes in an all-in-one solution. It is also trained on trillions of data points daily to be more efficient in predicting and stopping different threats.
The company is known for its role in many high-profile cyber attacks, including the Sony Pictures hack in 2014. Their customers include brands from different industries. 61 of the Fortune 100 companies also use Crowdstrike to stop breaches.
Crowdstrike is already a post-IPO company and is estimated to have a valuation of $6.6 billion.
| 🎉Fun Fact! CrowdStrike was crucial in investigating and attributing the 2016 cyberattack on the Democratic National Committee (DNC) during the US presidential election. CrowdStrike was called in to identify and mitigate the breach. The attack was ultimately attributed to Russian state-sponsored hackers, specifically a group known as Fancy Bear. |
- Malwarebytes
Malwarebytes is a cybersecurity company that offers different solutions for fighting off malware. 300,000 thousand new pieces of malware are created every day. The company’s Endpoint Detection and Response (EDR) platform provides businesses with protection to block malicious login attempts and prevent intrusion that targets RDP on servers.
Malwarebytes’ platform partners with other Remote Monitoring Management and Professional Services Automation (PSA) platforms. These platforms include ConnectWise, Datto, Azure, and Stella Cyber.
The company owns 1.12% of the market share in the endpoint security category, with the information technology industry having the most significant number of customers.
- Red Canary
Red Canary is a cybersecurity firm that pioneered Managed Detection and Response (MDR) to secure endpoints, cloud workloads, networks, identity, and SaaS apps. The platform connects to existing security tools, investigates threats, and remediates threats with human-led response options.
The company partners with different Managed Service Providers and Solution Providers to make sure businesses have the most advanced threat detection techniques. Some of the notable partners they have include Antigen Security and Ember Managed Services.
Red Canary’s investors include Summit Partners and Noro-Moseley Partners, and they currently have $100 million in annual recurring revenue.
- RevBits
RevBits is a cybersecurity firm that provides businesses with a comprehensive security platform. The company’s endpoint security can detect and block threats in real time. This security module helps deliver a better way to protect businesses’ endpoints and prevent malware from accessing important data.
Revbits partners with solutions providers Black Systems LLC, Saberpoint, Seqrite, and Technology Group. They also partner with different MSSPs and MSPs to ensure the quality of their services.
The company is estimated to have a valuation of $12-18 million.
Best Cybersecurity Startups for Network Security
The effects of cyber attacks can be expensive and compromise the company’s reputation. Data breaches can cost around $4-5 million on average.
Excellent network security can help protect businesses from cyber attacks and ensure that the company’s data is protected from unauthorized individuals.
Many cybersecurity companies provide varying platforms for Network Security. The following companies are some of the most significant startups in Network Security.
- Cato Networks
Cato Networks is a network security startup that combines enterprise communication and security into a cloud-based platform by developing Secure Access Service Edge (SASE). This platform is designed to manage network security for distributed workforces.
Cato Networks partners with different industries, such as TSDs and VARs, to enhance their services and provide a more efficient solution to their customers. Some of the most notable customers of Cato Network’s SASE cloud include Shiseido, Guardian Credit Union, Geosyntec, Standard Insurance, Sodexo, and RingCentral.
The company has an ARR of $100 million and became a tech unicorn in 2021. After their funding round in 2021, Cato Networks was valued at $2.5 billion.
- Illumio
Illumio is a cloud computing security company that helps businesses with zero trust segmentation and network security. The company provides a platform for proactively containing ransomware through micro-segmentation and Zero Trust Segmentation across the attack surface.
Illumio’s Adaptive Security Platform allows a security approach to protect computing environments and public clouds. It computes security in real-time, unlike traditional security systems.
The company partners with different MSPs and MSSPs to enrich their security. Their notable customers include NetSuite, NTT, Citigroup, and Cisco Systems. The company’s estimated valuation is around $2.7 billion in 2021.
- Zerofox
Zerofox is a cybersecurity company that helps expose and disrupt phishing and fraud campaigns through a cloud-based Software as a Service (SaaS). The company’s platform is AI-powered and processes threat intelligence at scale, gains visibility of incoming threats, and then helps the business respond and recover from the threat or attack.
The platform can be integrated with different applications for a more efficient security solution. These integrations include Tor, Elastic, Splunk, and Cisco.
ZeroFox has a social media intelligence contract with the FBI signed in 2020. This contract was worth $14 million, which ZeroFox took over from Dataminr. The company’s valuation is estimated at $1.4 billion in 2021.
- Versa Networks
Versa Networks is a recognized cybersecurity firm that provides a unified network security platform for businesses. Its platform can be used through the cloud, on-premises, or as a blended combination. Their SASE technology helps businesses, teleworkers, and end users stay connected to other applications securely.
Vera Networks has received the highest score for Network-driven SASE Use Case in Gartner’s Critical Capabilities for Single-Vendor SASE. Some of its most notable customers include Visa, Samsung, Verizon, Adobe, Comcast, and American Express.
The company is privately held and funded by leading investors such as Sequoia Capital, Mayfield, Comcast Ventures, and Verizon Ventures, to name a few. It has an estimated valuation of $450-750 million in 2022.
| 💡 Good to Know! The SASE framework streamlines IT infrastructure, enhances threat prevention, safeguards data, offers flexible connectivity for users and devices, lowers costs, and employs a zero-trust model for secure global application access, ensuring comprehensive session protection regardless of a user’s location relative to the corporate network. |
- Twingate
Twingate is a company that provides customers with a simplified approach to network security. Their platform’s essential features include the ability for users to control who decides to allow traffic inside the system. By delegating the user authentication, clients can add another layer of security to their network.
Some of the most notable companies using Twingate include Blend, Bloomreach, Modern Health, and Chargebee. They also partner with leading IdPs, MDM/EDRs, SIEMs, DOH providers, and more to ensure a world-class customer security ecosystem.
The company has several notable investors, including Bond Capital, SignalFire, and Jeffrey Katzenberg of WndrCo. Its current valuation is estimated to be $400 million.
- Acalvio
Acalvio Technologies is a company known for its patented ShadowPlex Cyber Deception platform. This platform helps users detect, engage, and respond to any malicious attacks across the system by integrating with other world-class solutions in the cybersecurity industry. It also defends the users from attacks that have already breached the network by deploying a comprehensive layer of deception. This layer detects, engages, delays, and diverts attacks.
The company has over 25 issued patents and provides enterprises with advanced Deception Technology and Threat Protection. They also partner with Amazon Web Services, Crowdstrike, Google Cloud, Honeywell, and Microsoft to strengthen the protection they offer their network security.
The leading investors for Acalvio Technologies include Eileses Capital and Presidio Ventures. They raised a total of $58.2 million over six rounds.
Best IOT Cybersecurity Startups
Over 13.5 billion IoT devices are expected to be connected by the end of 2023. IoT security is integral to the current cloud landscape and focuses on these devices and their networks.
Cybercriminals see these devices as an avenue to carry out their attacks. Operational technology (OT) and industrial control systems (ICS) increase the possibility of these attacks infiltrating the system. This is why many cybersecurity startups focus on providing enterprises with the best IoT security services.
This section will show you some of the most significant cybersecurity startups regarding IoT security.
| ❓ Did You Know? There are 7,620 new IoT devices on the internet every minute! By 2025, this number is expected to grow to 152,000. |
- Claroty
Claroty is an industrial cybersecurity company that focuses on helping enterprises protect their OT, IoT, and IIoT assets. Their platform provides visibility, threat detection, risk and vulnerability management, and secure remote access with a unified solution.
Different industries, including the healthcare, commercial, and public sectors, use the platform. Some of their notable customers include Siemens Healthineers, Cabrini Technology, and Deloitte.
Claroty has also partnered with different industry leaders, such as Cisco, AWS, IBM Security, and CrowdStrike, to create a more efficient solution for IoT security. In 2021, the company’s estimated value is around $1 billion.
- Armis Security
Armis Security offers businesses a robust security solution for their OT, IoT, and ICS assets. Armis’ Centrix is the company’s platform for discovering threats, taking measures against threats, and managing workflows to lower attack risks. It also helps identify risky behaviors in the OT networks and automate the segmentation with recommendations.
The company partners with notable brands such as IBM, Check Point, Exabeam, and Veristor. 40 out of the Fortune 100 companies use Armis Security to address their IoT security needs.
Armis Security was acquired by Insight Partners at a valuation of $1.1 billion in 2021. Under the terms of the agreement, Armis Security will operate independently and be fully managed by its founders.
- SandboxAQ
Sandbox AQ is a security firm that provides a platform for businesses to use the compound effects of AI and Quantum (AQ) Technologies. This platform aims to help enterprises tackle problems in cybersecurity and even other industries, such as navigation and drug discovery.
Many leading brands worldwide use SandboxAQ’s AI and Quantum technologies (AQ) to protect their IoT systems and infrastructure. These organizations include Vodafone, Mount Sinai, Cloudera, Informatica, SoftBank, and the US Air Force.
The company went to four rounds of funding and raised $500 million.
- Mocana
Mocana is a cybersecurity provider that helps businesses with platforms to protect their IoT devices and industrial infrastructure. This platform is designed to be OS-independent and support all types of devices. It is a comprehensive platform that helps manage security across the IoT device.
Mocana’s security is deployed in different technologies, such as medical devices, battlefield communications, cell phone carrier networks, and automobile firmware. Some partners of Mocana include Qualcomm, Intel, Atmel, Microsoft, and Green Hills Software.
This company was originally a systems security company but has changed its focus to smart devices and the applications on the device. It was acquired by DigiCert in 2022.
- Ordr
Ordr offers a platform for enterprises to discover and secure IoT, IoMT, and OT devices. The platform provides security such as medical device visibility, real-time asset inventory, detection of ransomware and threats, and Zero Trust Segmentation.
According to Ordr’s website, the platform has helped analyze 1 trillion device flows, track over 48 million IP endpoints, and prevent over 40 thousand lateral movement attempts. Many organizations like Cleveland Clinic, National Bank of Commerce, Mayo Clinic, and Fairfield University trust it.
The company went to over five funding rounds and raised $94 million in 2022. Their leading investors include Battery Ventures and Dominic Orr.
| 💡 Good to Know! Ordr has developed a unique capability to identify and secure IoT devices through their deep packet inspection and machine learning technologies, which allow them to automatically classify and profile IoT devices and assess their security posture in real-time. |
- VDOO
VDOO provides a platform for enterprises to protect their IoT devices. This platform helps identify, prioritize, and mitigate different security issues from supply chain threats, embedded malware/backdoors, and other zero-day vulnerabilities.
VDOO’s approach also gives the organization an effortless way to integrate Dev, DevOps, and DevSecOps processes. In turn, this process can automate vulnerability research and management and remediation and mitigation of the attack.
Seasoned cybersecurity entrepreneurs and security experts founded the company. It caters to dozens of Fortune 500 customers and has offices worldwide, including Israel, the US, Germany, Singapore, and Japan. The company was acquired by California-based cybersecurity company JFrog in 2021 to integrate a more robust IoT security into its existing system.
- Medigate
Medigate is a healthcare-focused IoT security provider. The platform uses its clinical workflow expertise and medical device protocol to help enterprises in the healthcare sector fight off cybersecurity threats while delivering data protection and treatment to patients and customers efficiently. It also uses deep packet inspection algorithms to ensure that any activity that deviates from normal clinical and manufacturer-intended behaviors is immediately discovered.
Medigate partners with different life cycle management platforms such as Palo Alto Networks, Cisco, Aruba, ServiceNow, and AIMS, among many others. By partnering with these companies, Medigate can provide a strong defense for healthcare enterprises.
The company was acquired by another cybersecurity leader, Claroty, in 2022.
| 🎉Fun Fact! Medigate’s technology is designed to provide real-time visibility into the security of medical devices, ensuring they are not vulnerable to cyberattacks. This is crucial for healthcare organizations because medical devices, such as infusion pumps and MRI machines, are increasingly connected to the internet, making them potential targets for hackers. |
- Viakoo
Viakoo is a cybersecurity startup that provides security solutions such as firmware patching, password enforcement, and certificate management for IoT devices. The platform aims to help enterprises protect the attack surface of IoT devices by automating the solutions mentioned above and continuously tracking the devices for compliance.
The company has provided enterprise IoT security platform management to over a million IoT devices in different industries, including some of the most prominent organizations in the world, such as Sandisk, Juniper Network, Western Digital, Cardinal Health, and Cisco. They also partner with Nozomi Networks, Armis Security, Forescout, and Cylera to bring their customers a more robust security solution.
Viakoo is a leading IoT vulnerability remediation provider with consistent recognition in the industry. Recently, it has been awarded as a winner for the Most Innovative IoT Security at the Top Infosec Innovators for 2023 by Cyber Defense Magazine.
- Cybeats
Cybeats offers device makers and device operators IoT security that can help them identify any abnormal behavior that could constitute a cyber attack. For device makers, employing Cybeats means that they can build devices compliant with government regulations and eliminate the downtime of a device if it has been infected. For device operators such as hospitals, utilities, and cities, Cybeats can integrate into their existing SIEM system and help them respond to any potential attacks.
The company partners with other cybersecurity leaders, such as Splunk, Veracode, Palo Alto Networks, FireEye, and GSMA, to ensure a more efficient security ecosystem for enterprises.
The company has shown significant growth in 2023 after achieving a monthly recurring revenue of 237%, with 25% of its customers increasing their contract size with Cybeats. Cybeats’ valuation is estimated to be around $45 million.
- Angoka
Angoka is an IoT-security-focused cybersecurity company that provides a hardware-based solution for critical machine-to-machine communications. This solution includes delivering security for household devices, smart cities, and medical devices.
Angoka’s security solution protects users from network disruptions and cyber attacks on any data collection device. It also supports intelligent cities by protecting the technologies from any threat that could disrupt their function.
The company is trusted by leading organizations from different industries across Europe, including the Center for Connected & Autonomous Vehicles, Innovate UK, ZenZic, and the National Cyber Security Centre.
Angoka has been named the Most Innovative Cyber SME of 2023 by the UK Department of Science, Information, and Technology. The company has an estimated valuation of around $13-19 million.
| 💡 Good to Know! Angoka participates in Aerospace and Defense by providing encryption security to communications between drones, swarms, and air vehicles. |
Wrapping Up
With the ever-changing technology landscape, cybersecurity experts are developing more innovative solutions to various cyber threats and attacks. Emerging and established cybersecurity startups play an essential role in solidifying the digital defenses of industries worldwide.
The categories in this article represent some of the most important sectors that drive the digital world. Having strong and effective security solutions for these categories can help online markets and businesses thrive, grow, and further develop groundbreaking solutions to different problems.
The cybersecurity startups in this article are the most outstanding in terms of innovations, technologies, and growth. These companies are also expected to continue significantly impacting the safety of data and other online activities in the coming years.
By Raj Vardhman
Raj Vardhman is a tech expert and the Chief Tech Strategist at TechJury.net, where he leads the research-driven analysis and testing of various technology products and services. Raj has extensive tech industry experience and contributed to various software, cybersecurity, and artificial intelligence publications. With his insights and expertise in emerging technologies, Raj aims to help businesses and individuals make informed decisions regarding utilizing technology. When he's not working, he enjoys reading about the latest tech advancements and spending time with his family.