The global cybersecurity market is currently valued at over $120 billion, up from just $3.5 billion in 2004, and the dollar amount of cybersecurity venture capital investment has grown 12 times in response. Over the past decade, the number of cybersecurity vendors has grown 23 times, an overabundance on the supply side that has complicated the marketplace and spooked less-committed, more-traditional investors. With competition high and differentiation low, backing new ventures presents much greater risk. Startups are finding it difficult to stand out. CISOs can be overwhelmed by the flood of new options.