Top Cybersecurity Startups You Need to Know in 2024
Feel like you don’t even know what cybersecurity in depth means?
Don’t worry—you’re not alone!
Unfortunately, today’s world is full of threats in the digital environment, so wise business protections are required.
So, if you are an entrepreneur planning to enter the cybersecurity industry and have no idea how to start, you are welcome to read this article.
Below is what we consider to be the top cybersecurity startups in 2024.
These companies are addressing massive challenges, they’re pioneering, and showing what can be achieved in this dynamic field.
Continue reading to get inspired, know more about the industry, and begin to lay down your foundation in the cybersecurity industry!
What is Cybersecurity?
These cyberattacks include ones intended for gaining unauthorized entry to, modifying, or sabotaging the content of a computer system;
those that involve ransomware, requiring the recipient to make a payment to the sender; and those designed to disrupt operations, and systems within the organization.
Protecting organizations from cyber threats is somewhat difficult today because there are more devices than there are human beings and the attackers are growing in sophistication.
Cybersecurity is a successful equation where there are several layers of protection provided across the computers, networks, programs, or data, which one wants to protect.
In an organization, a unified threat management gateway system can automate integrations across products and accelerate key security operations functions: identification, reporting and response, and correction.
The people element, processes also, and the part of technology require proper integration so that the defense against cyberattacks can be efficient.
Why Cybersecurity is Important?
Everyone in the advanced connected world needs superior cybersecurity in place right now.
On a personal level, a cybersecurity threat can range from identity theft and blackmail to the loss of valuable data including family pictures.
People use important utilities such as energy generation facilities, healthcare facilities, and firms in the financial sector.
These and other organizations have to be protected to retain the smooth working of our society.
Everyone is also benefitted from cyber threat researchers such as the team of 250 at Talos creating new threats and developing new sophisticated techniques that are used in cyberattacks.
They expose previously unknown weaknesses, remind people about the significance of information security, and enhance software and hardware applications developed by the community.
Their work does make the internet safer for all of us.
Cybersecurity with Focus on IT
There has been tremendous expansion in the cybersecurity sector during the pandemic, specifically for IT security startups.
Total sales in the industry will reach $183.1 billion by the year 2024.
This is expected to rise to $273.6 billion by 2028, in terms of revenue, and continues to grow at a CAGR of 10.56%.
The challenging growth of the AI market to watch is another strong driver of the industry.
AI cybersecurity product market will rise from $15 billion in 2021 to $135 billion by 2030– Morgan Stanley.
Top 6 Cybersecurity Startups in 2024
1. Abnormal Security
5-year search growth: 809%
Growth status: Exploding
Founded: 2018
Located in: San Francisco, CA
Funding: $534M (Series C)
What they do: Abnormal Security provides a SaaS email security platform with countermeasures against specifically targeted cyber threats (its software runs within the Microsoft Office 365 and Google Cloud G Suite ecosystem).
The main application is to search for signs of real email account compromise, to remove the sources of phishing and other malicious, and to provide integrated automated actions.
Earlier in August 2024, the startup closed Series D funding of $250m, taking its valuation to $5.1billion.
2. Cyware
5-year search growth: 26%
Growth status: Regular
Founded: 2016
Located in: Jersey City, NJ
Funding: $73M (Series C)
What they do: Cyware provides Virtual Cyber Fusion Centres to enhance the SOAR and threat intelligence opportunities for organizations.
Some of the products that are offered by Cyware are constant threat analyses for use in preemptive threat investigations.
3. Snyk
5-year search growth: 411%
Growth status: Exploding
Founded: 2015
Located in: Boston, MA
Funding: $1.2B (Corporate Round)
What they do: Snyk is a software company that induces developer-first analysis toolsets to discover and remediate open source flawches.
Also, the product tracks legal weak points in the application code; at present, 2.2 million developers use it.
4. Lacework
5-year search growth: 150%
Growth status: Peaked
Founded: 2015
Located in: San Jose, CA
Funding: $1.9B (Series Unknown)
What they do: Lacework assists with cloud security automation.
It provides coverage of the configuration of assessment, threats, hosts’ intrusions, and compliance checks within a multi-cloud domain.
Currently, Software can be configured within environments that have been developed using AWS, Azure Google Cloud, or even Kubernetes environments.
The live market value of the company is $8.3b since the firm has recently closed one of the largest funding rounds in the United States this year.
5. Axonius
5-year search growth: 382%
Growth status: Exploding
Founded: 2017
Located in: New York, NY
Funding: $865M (Series E)
What they do: The Strategy of Axonius is a cybersecurity asset management platform designed for enterprise clients in different industries, such as energy and retail.
It has 317 preset applications for inventory control on the platform to allow for the automation process.
In particular, the Axonius software establishes potential gaps in the security of assets based on the cybersecurity policies of the specific company and then alerts some employees in cases when a certain gap has been detected.
In March 2024, the company completed an extension to the Series E funding round and it reported more than $100 million in annual recurring revenue in 2023 for which it raised $200 million.
6. Noname Security
5-year search growth: 4,200%
Growth status: Regular
Founded: 2020
Located in: Palo Alto, California
Funding: $220M (Series C)
What they do: Noname Security is an enterprise API security company based in San Francisco.
Their security platform leverages machine learning for the detection of API vulnerabilities inclusive of data leakage and cyber attacks.
These four fundamentals of API security are all addressed within this platform, namely: Discovery, Posture Management, Runtime Security, and API Security Testing for Enterprise organizations.
It currently partners with 20% of the Fortune 500 companies and was recently included on CRN’s Security 100 list.
Final Thoughts
By now you are aware of what exactly is cybersecurity and its importance. We have shared a couple of top cybersecurity startups to give an idea of how these startups and what inspiration you can take from these ideas.
Now, if you have anything confusing in your mind related to cybersecurity startups, Reliable Startup can discuss your thoughts and sort them out. Contact us to discuss further!
