We get it, security is important.
Today, Israel-based open source security startup WhiteSource announced that it has picked up $35 million from investors M12 and 83North. According to TechCrunch’s coverage, the company, which was founded in 2011 and had raised $11 million prior to this round, anticipated that “there had been a ‘big shift’ in the marketplace in the last year or so.”
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I’ll say. WhiteSource is one of many startups focused on the security space, and one of many that have raised this year. So far in 2018, Crunchbase has recorded 354 seed, early, and late-stage rounds in the Network Security and Cybersecurity categories, totaling more than $3 billion since the beginning of 2018. Of the total, 240 of the rounds went to seed and early-stage startups (many pushing predictive automation and machine learning as their primary sells).
So if you’re an aspiring leader in the space, like WhiteSource, it may be smart to double down on growth within your security category (open source code security, in its case). And venture funding is a good way to do that.
As long as there are companies with personal data and governments with national security secrets, there will be people trying to break into them. So, Facebook, don’t worry about that security breach, the cybersecurity startup world thanks you for your service.
Illustration Credit: Li Anne Dias