Cybersecurity has become an increasingly important facet of a firm’s makeup, with innovation being forced through by a number of high profile cyberattacks in recent months, leading to increased growth in the Cybersecurity market.
Despite steady growth in the industry over the past years, Cybersecurity has remained a problem for many organisations worldwide, with firms concluding that it is unlikely they will be targeted by hackers, as well as possessing a lack of knowledge regarding the correct security systems to use.
However, while a lack of knowledge still affects the landscape of many industries, the recent hacks that Deloitte and Equifax have experienced has resulted in an increasing realisation amongst many firms that Cybersecurity is an important issue. This awareness of threat, coupled with the increased use of cloud-based systems containing company information has helped to further propel the growth of the Cybersecurity industry.
This growth within the Cybersecurity market has given rise to a new type of venture capital investment firm. These new firms focus specifically on investing within the Cybersecurity market, leveraging their expert knowledge of the industry to find early-stage start-ups with high growth potential.
While yet to be seen, the dedication that these venture capital organisations have to seeking investment within one industry, coupled with their knowledge of the market is expected to generate higher returns on investment for these firms when compared against venture capital firms who operate in multiple industries.
For many companies, 2017 contained a tough lesson regarding their Cybersecurity systems and protocols, which hopefully, many will learn from to protect against a repeat in 2018.
With investment in the Cybersecurity industry increasing, along with the number of businesses targeted by hackers, it has never been more clear that firms, big or small, need to start taking Cybersecurity seriously.
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