We are pleased to provide you with Momentum’s Cybersecurity Market Review for 1H 2023. Strategic Activity in 1H 2023 included 553 transactions totaling $14.0B in deal value across M&A (130 transactions, $8.8B) and Financing (423 transactions, $5.2B).

Each month we provide you with an update on the dynamic Cybersecurity landscape. We highlight M&A activity, Venture Capital, Initial Public Offerings, public market valuations, sector trends and unique industry perspectives. This month’s report also features previews of Momentum’s upcoming in-depth reports on the Identity & Access Management and Application Security Testing sectors, both scheduled to release this Fall.

Highlights include:

  • 130 M&A deals were announced with disclosed values of $8.8B (median disclosed value of $87M)
  • The acquisitions of SK Shieldus by EQT Partners for $2.2B, Sumo Logic by Francisco Partners for $1.4B, Magnet Forensics by Thoma Bravo for $1.1B, and Absolute Software by Crosspoint Capital for $870M highlighted M&A activity for 1H 2023
  • The most active sectors for M&A in 1H 2023 included: Security Consulting & Services (30), MSSP (19), SecOps / IR / Threat Intel (15), and Identity & Access Management (14)
  • 423 financing transactions completed with total capital raised of $5.2B (median amount raised of $4.4M)
  • SandboxAQ’s $500M Later Stage VC raise, Netskope’s $401M Convertible Note raise, and Wiz’s $300M Series D raise led all financing activity for 1H 2023
  • The most active sectors for financings in 1H 2023 included: Risk & Compliance (80), Data Security (58), SecOps / IR / Threat Intel (42), and Identity & Access Management (41)

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Momentum Cyber is the premier trusted advisor to the Cybersecurity industry providing bespoke high-impact advice combined with tailored, senior-level access. The firm was founded by world-class operators and advisors and caters to the unique needs of both earlier stage Founders, CEOs, & Boards as well as the complexity of later stage & public companies throughout their lifecycle. Headquartered in San Francisco with operations globally, the founding team has closed over 250 transactions totaling over $250 billion in value.