Cybersecurity investments reached $3.3 billion during the second quarter of this year, which was 71% higher than the same period last year despite the number of transactions only increasing by one, SiliconAngle reports.
Sixty-five percent of the funding raised between April and June was from growth funding and Series C and later rounds even though later-stage rounds only accounted for 13% of transactions during the same period, according to a report from Pinpoint Search Group. While interest in artificial intelligence has been fueling cybersecurity investment interest, such year-over-year funding growth is challenging to ascertain, noted Pinpoint Search Group founder and Managing Partner Mark Sasson.
"Last year was a challenging year economically, likely contributing to the dip in cybersecurity funding we experienced throughout 2023. Additionally, there has been growing evidence of an industry reset, with investors spreading their funding dollars among new technologies designed to address the IT threat landscape of tomorrow, including AI, crypto, and automation," Sasson said.
