April 5, 2024 at 07:06AM
Cybersecurity companies raised $2.3 billion in funding in Q1 2024, tracked by Pinpoint Search Group. While comparable to Q1 2023, funding was 20% less. Notably, late-stage rounds saw traction, signaling positive indicators. Mark Sasson of Pinpoint highlights challenges in 2023 but observes positive trends in 2024. Major fundings included Silverfort, Extrahop, Bugcrowd, Coro, Axonius, Nozomi, and Claroty.
From the meeting notes, we can deduce that cybersecurity companies raised $2.3 billion in funding in the first quarter of 2024, with 77 funding rounds tracked by Pinpoint Search Group. This amount is 20% less than the $2.9 billion raised in Q1 2023, while the number of funding rounds remained constant compared to the same period in 2023. Notably, late-stage funding rounds showed improvement in both transaction volume and funding amount compared to most of 2023. Mark Sasson, founder and managing partner at Pinpoint Search Group, mentioned that despite the year-over-year dip in funding, investments in later rounds early in the year are a positive indicator for the cybersecurity field. Noteworthy funding rounds in Q1 2024 were announced by companies such as Silverfort, Extrahop, Bugcrowd, Coro, Axonius, Nozomi, and Claroty.