2021 may have been a rough year for cybersecurity, but it was a record-breaking year for security startups.
According to new data from Momentum Cyber, a financial advisory firm for the security industry, cybersecurity startups raised a “record-shattering” $29.5 billion in venture capital last year, more than doubling the $12 billion raised in 2020 and outpacing the two previous years combined.
Investors poured this record amount of financing into more than 1,000 deals, of which 84 were greater than $100 million. This includes the $200 million Series D investment secured by industrial cybersecurity startup Dragos, Claroty’s $140 million pre-IPO raise, and the $543 million Series A raised by passwordless authentication company Transmit Security. Total financing value was up 138% over the previous year, Momentum’s data reveals.
As a result of this historic investment volume — wh …
