The first cybersecurity unicorn kernel popped in late 2013 with the announcement of CloudFlare’s $50 million Series C investment. Today, 10 privately held companies hold membership in the ultra-exclusive cybersecurity unicorn club.
With the addition of each new member, eyebrows are raised and questions are asked. What underlying data supports such valuations? Would there ever be sufficient revenue in the cybersecurity market to sustain unicorn valuations? Are cybersecurity unicorns outliers or are we at the start of a sustainable trend?