What are the top cybersecurity startups by total funding raised?

Top startups in the Cybersecurity market ranked by total funding raised

Here is an updated table that ranks the top startups in the Cybersecurity market based on the total amount of funding they have raised to date.

The table also includes the total number of funding rounds, the date and size of the latest round, the financing type (e.g. Series A, equity financing), key investors, the startup’s current status (active, IPO, acquired, or shut down), and a confidence score based on the data collected (we excluded startups with very low data confidence, to make sure everything is reliable).

If you need to dig deeper and get more detailed data, please check our report covering the Cybersecurity market.

Cyera currently leads our cybersecurity funding ranking with about $2.7 billion raised, ahead of Netskope at roughly $2.1 billion, Wiz at $1.9 billion and Snyk at around $1.6 billion.

That top group is unusually large. Based on our reconstructed dataset, the 20 most-funded cybersecurity companies have raised roughly $22.6 billion between them. Cyera, Netskope and Wiz alone account for about $6.7 billion, close to 30% of that total.

Cato Networks and Armis follow at roughly $1.2 billion each, while OneTrust, Securonix and Fireblocks have also crossed the $1 billion mark. Saviynt sits around the same level once its latest transactions are included, although its financing history requires extra care because recent continuation-vehicle capital does not map as neatly onto a conventional venture round.

The ranking also mixes companies at very different stages. Cyera, Snyk and Cato Networks remain private. Netskope is public. Google owns Wiz. ServiceNow owns Armis. Total funding therefore tells us who accumulated the most capital over time; it does not tell us which companies are still competing for private funding today.

Rank	Company	Approx. cumulative funding in dataset	Current status
1	Cyera	$2.7B	Private
2	Netskope	$2.1B	Public
3	Wiz	$1.9B	Acquired by Google
4	Snyk	$1.6B	Private
5	Cato Networks	$1.2B	Private
6	Armis	$1.2B	Acquired by ServiceNow
7	OneTrust	$1.1B	Private
8	Securonix	$1.1B+	Private
9	Fireblocks	$1.0B	Private
10	Saviynt	Around $1.0B+	Private

Is Cyera now the most-funded private cybersecurity startup?

Yes. Cyera is currently the most heavily funded independent cybersecurity company in our ranking, and the speed at which it reached $2.7 billion is even more striking than the total.

The company raised $400 million in early 2026, taking its cumulative funding above $1.7 billion and its valuation to $9 billion. It then raised another $600 million at a $12 billion valuation. Goldman Sachs Alternatives has now added a further $400 million through an extension of that financing.

The Wall Street Journal calculates that Cyera has raised roughly $1.94 billion since mid-2025. That means more than 70% of its entire funding history arrived in little more than a year. Most of a company's funding arriving in little more than a year is a pace signal we follow every quarter in our cybersecurity market report.

Few large cybersecurity companies have ever absorbed private capital this quickly. Snyk, Fireblocks and 1Password built enormous funding totals during the 2020–2022 software boom, but Cyera has compressed a similar amount of fundraising into a much shorter period.

Cyera is already using some of that financial firepower for expansion rather than simply keeping the money on its balance sheet. Its agreement to acquire non-human identity company Oasis Security was valued at roughly $1 billion. That gives us a practical sense of what $2.7 billion of financing can buy: product expansion, acquisitions and enough runway to choose when, or whether, to go public.

How did Cyera raise $2.7 billion so quickly?

Cyera raised $2.7 billion so quickly because data security has become tangled up with one of the biggest new enterprise problems: controlling what AI systems and AI agents can access.

Cyera originally built its business around finding sensitive corporate data, classifying it and showing companies who could reach it. That problem has become much bigger as companies connect generative AI tools and autonomous agents to internal databases, SaaS applications and employee workflows. Finding sensitive data that AI agents can reach is a problem buyers pay to solve; we profile them in our cybersecurity market report.

Investors are clearly paying for that broader opportunity. Cyera's $600 million Series G valued the company at $12 billion, four times its valuation around 18 months earlier. The latest $400 million extension then arrived only a few months after that round.

The company has also widened what it sells. Its platform now spans data security posture management, privacy, identity, data-loss prevention and security for AI agents. The Oasis Security acquisition adds non-human identity security, an area becoming more important as software agents receive their own credentials and permissions.

There is still plenty that Cyera has to prove commercially at a $12 billion private valuation. The fundraising itself is already exceptional. Investors are financing Cyera as a possible security platform for the AI era rather than as a narrowly defined data-security tool.

Did Cyera really raise more money than Wiz?

Yes. Cyera has now raised roughly $800 million more than Wiz did before Google bought it.

Our reconstructed total for Wiz is approximately $1.9 billion, versus about $2.7 billion for Cyera today. Those figures put Cyera ahead on cumulative funding even though Wiz produced a much larger realized outcome.

Google originally announced the Wiz acquisition at $32 billion. Alphabet's later SEC filing recorded an adjusted purchase price of approximately $29.5 billion after purchase-price adjustments and excluding post-combination compensation.

That difference shows the limit of a funding ranking. Wiz needed less outside capital than Cyera has already raised, then reached an acquisition value close to $30 billion.

Cyera currently has more financial backing. Wiz has already demonstrated what a cloud-security platform can be worth to one of the world's largest technology companies.

What happened to Wiz after it raised $1.9 billion?

Wiz turned roughly $1.9 billion of funding into a sale to Google worth about $29.5 billion after adjustments, making it the strongest exit among the companies near the top of our ranking.

Google completed the acquisition and placed Wiz inside Google Cloud while keeping the Wiz brand. The deal gives Google a major security platform spanning cloud environments rather than limiting Wiz to Google Cloud customers.

For the remaining private cybersecurity companies, the size of the transaction changed the reference point. A large security startup no longer has to assume that an IPO is the only plausible route to a tens-of-billions outcome.

The deal is especially relevant to Cyera, Cato Networks, Snyk and other private platforms with large funding bases. Once a cybersecurity company controls an important layer of enterprise infrastructure, strategic buyers may value the technology, customer base and competitive position together.

Wiz therefore remains highly relevant to a funding ranking even after its acquisition. Its financing history shows how much private capital was required to create the company, while its sale shows how much strategic value Google ultimately attached to it.

How much money did Netskope raise before going public?

Netskope accumulated roughly $2.1 billion in our ranking after an IPO that generated about $908 million of gross proceeds.

The company's SEC prospectus shows that Netskope offered 47.8 million shares at $19 each. That produced $908.2 million of gross proceeds and about $862.8 million before company expenses after underwriting discounts.

This is where cumulative funding figures need context. A dollar raised through an IPO is different from a dollar raised in a Series C or Series G because the company has already crossed into the public market.

Netskope is still useful near the top of the ranking because the scale shows how much outside capital a security platform can absorb over its life. Its history also gives private companies such as Cato Networks a recent example of the SASE and cloud-security sector reaching public markets.

For readers comparing private startups specifically, Netskope now belongs in a separate bucket. Its fundraising race as a private startup is finished.

Is cybersecurity startup funding booming again?

Yes. Cybersecurity startup funding is running at historically strong levels again, although a small number of very large rounds still account for a big share of the money.

Crunchbase counted approximately $18 billion invested in security and privacy startups during 2025. That was about 26% higher than the previous year and the third-highest annual total of the previous decade. Yearly funding totals say how much money moved; how big the market itself is, we estimate from the ground up in our market report about cybersecurity.

The pace has stayed high. Crunchbase recorded another $10.6 billion across cybersecurity and privacy companies during the first half of 2026. First-quarter funding reached about $4.9 billion, while second-quarter seed-through-growth financing came to roughly $4.4 billion.

Those totals make the recovery hard to dismiss as one freak quarter. They also need to be read alongside the size of individual deals. Crunchbase counted at least seven cybersecurity rounds of $400 million or more in 2025 alone.

Cyera is the obvious extreme, but several companies have raised nine-figure rounds since then. Horizon3 pulled in $250 million, Dream raised $260 million, ThreatLocker secured $190 million, Claroty raised $150 million and Obsidian Security added $85 million.

Cybersecurity funding is hot again. Most of the money, though, is concentrating around companies investors believe can become large platforms or own a fast-growing security category.

What are the biggest cybersecurity funding rounds?

The largest cybersecurity rounds now reach hundreds of millions of dollars, and a single financing can account for most of a company's lifetime funding.

Securonix received more than $1 billion from a Vista Equity Partners-led investment in 2022. That one transaction explains most of its position near the top of our ranking.

1Password raised $620 million in its Series C at a $6.8 billion valuation. Fireblocks raised $550 million in a Series E at an $8 billion valuation. ReliaQuest later secured more than $500 million at a $3.4 billion valuation.

Cyera stands out because the company has repeatedly raised at this scale. It secured $540 million in 2025, followed by $400 million, $600 million and then another $400 million across subsequent financings. That sequence is much rarer than one unusually large growth round.

Saviynt deserves attention too. A KKR-led group invested $700 million at an approximately $3 billion valuation, followed later by a $255 million commitment from Carrick Capital Partners associated with a continuation vehicle.

That is how lifetime totals can jump so quickly. A startup that raises $300 million or $500 million at once can move dozens of places in a ranking built from cumulative equity funding.

Company	Major financing	Amount
Securonix	Growth investment	$1B+
Saviynt	Growth equity financing	$700M
1Password	Series C	$620M
Cyera	Series G	$600M
Fireblocks	Series E	$550M
ReliaQuest	Growth financing	$500M+
Armis	Late-stage growth round	$435M
Cyera	Series G extension	$400M
Chainguard	Series D	$356M
Cato Networks	Series G	$359M

Is Snyk still one of the most-funded cybersecurity startups?

Yes. Snyk remains one of the best-funded independent cybersecurity companies, even though its biggest fundraising years came before the current AI-security boom.

Our dataset puts Snyk at roughly $1.6 billion of cumulative funding, which leaves it fourth overall behind Cyera, Netskope and Wiz.

Its last major disclosed round was a $196.5 million Series G led by Qatar Investment Authority. The financing valued Snyk at $7.4 billion, below the $8.5 billion valuation attached to its previous round.

That valuation reset is useful context. Snyk said revenue had doubled year over year and net revenue retention exceeded 130%, yet investors were already becoming more disciplined about software valuations.

Snyk's ranking today therefore comes mostly from capital accumulated during its rapid expansion into developer security rather than a recent run of mega-rounds. It still has a huge war chest by cybersecurity standards, but the center of fundraising momentum has moved toward companies such as Cyera, Horizon3 and Dream.

How much has Cato Networks raised?

Cato Networks has raised more than $1 billion, making it one of the most heavily financed independent cybersecurity companies still operating today.

Cato's largest recent round was a $359 million Series G that valued the company at more than $4.8 billion. The company said the financing pushed total funding above $1 billion.

The timing is important because Cato was already operating at substantial commercial scale. Around the financing, the company reported annual recurring revenue above $300 million and said its ARR had grown 46% during the previous year. Recurring revenue growing alongside funding is one test of which cybersecurity business models make money, a comparison we run in our cybersecurity market report.

Cato has since said ARR passed $350 million, with another year of strong growth. That gives its funding story more substance than a large valuation alone.

The company is also spending capital to widen its platform. Cato acquired Aim Security to add protection around enterprise AI usage and AI agents.

For now, Cato is one of the clearest examples of a heavily funded cybersecurity company whose fundraising, revenue scale and product expansion are moving together.

What happened to Armis after its huge $435 million funding round?

Armis raised $435 million at a $6.1 billion valuation while preparing for an IPO, then ServiceNow agreed to buy the company for approximately $7.75 billion.

The sequence happened quickly. Armis said the $435 million financing would support the next phase of growth and its path toward becoming public. At that point, the company had passed $300 million in annual recurring revenue and was reporting ARR growth above 50%.

ServiceNow then offered roughly $7.75 billion in cash. By the acquisition announcement, ServiceNow said Armis had surpassed $340 million in ARR.

The acquisition has since closed, ending Armis's run as an independent private cybersecurity company.

This is one of the more useful recent comparisons for late-stage funding. Armis had access to hundreds of millions of dollars, meaningful revenue growth and a credible IPO route. A strategic buyer still offered substantially more than the valuation from its latest financing.

For companies such as Cato Networks and Cyera, Armis shows that raising a very large late-stage round does not lock a company into an IPO.

Which cybersecurity startups have raised more than $1 billion?

At least nine companies in our core dataset have reached roughly $1 billion of cumulative funding, and Saviynt now pushes that group higher once its newest financing is considered.

Cyera, Netskope, Wiz, Snyk, Cato Networks, Armis, OneTrust, Securonix and Fireblocks all sit at or above the billion-dollar mark in our ranking.

Saviynt needs a little more explanation. Carrick Capital Partners says the company raised a $700 million KKR-led growth financing at roughly a $3 billion valuation, followed by a $255 million new commitment through a continuation-vehicle transaction. Those events make the older $995 million cumulative figure in our underlying dataset look conservative depending on exactly how each equity component is treated.

Claroty presents a smaller version of the same problem. Its latest $150 million Series F also pushes public cumulative figures beyond some older database totals.

This is why we reconstruct the rounds whenever possible rather than blindly copying a database's "total funding" field. Recent financings, extensions and mixed transactions can make that number stale surprisingly quickly.

Company	Approx. cumulative funding
Cyera	$2.7B
Netskope	$2.1B
Wiz	$1.9B
Snyk	$1.6B
Cato Networks	$1.2B+
Armis	$1.2B
OneTrust	$1.1B
Securonix	$1.1B+
Fireblocks	$1.0B
Saviynt	Around or above $1.0B depending on treatment of recent transactions

Why did 1Password and Fireblocks raise so much money?

1Password and Fireblocks each caught a major investment wave at exactly the right time, which explains why both still sit close to the top of the cybersecurity funding ranking years after their biggest rounds.

1Password raised $620 million at a $6.8 billion valuation. That single Series C accounts for roughly two-thirds of the approximately $920 million in our dataset.

The company was benefiting from the rapid expansion of enterprise identity and credential security. Remote work had multiplied the number of applications employees used, while password management was shifting from an individual productivity tool toward company-wide security infrastructure.

Fireblocks followed a different wave. Its $550 million Series E valued the digital-asset security company at more than $8 billion and took cumulative funding to about $1 billion. Fireblocks said it had grown from around 150 customers to more than 800 during 2021 and had already secured more than $2 trillion in digital-asset transfers.

These companies now look like products of a particularly aggressive funding cycle, but their rounds were connected to real changes in customer behavior. 1Password rode the expansion of cloud identity. Fireblocks rode institutional adoption of digital assets.

Their high ranking today mostly reflects just how enormous those financings were.

What types of cybersecurity startups attract the most funding?

Investors currently put the biggest checks behind cybersecurity companies that can control an important layer of enterprise infrastructure, especially data, cloud systems, identity, network access and security operations.

The top of the ranking makes that pattern easy to see. Cyera protects enterprise data and increasingly the identities accessing it. Wiz built around cloud security. Cato combines networking and security through SASE. Armis expanded from connected-device visibility into broad exposure management. Saviynt governs enterprise identities. Data, cloud, SASE and identity security all count as cybersecurity, and we explain where the lines between them fall in our report on cybersecurity.

Further down the table, the same pattern keeps appearing. ReliaQuest sits across existing security tools and automates security operations. Island moves access and security controls into the enterprise browser. Chainguard secures the open-source software companies build with. Horizon3 automates penetration testing and security validation.

Some of these categories barely overlapped a decade ago. They now compete for the same enterprise-security budgets and increasingly expand into one another.

AI is speeding that convergence up. Data-security vendors are adding identity. Identity companies are adding AI-agent governance. SASE vendors are buying AI-security products. Security-operations companies are automating more work with agents.

The companies attracting the most money these days tend to have room to expand well beyond the narrow problem they first solved.

Security area	Heavily funded examples	Current funding pattern
Data security	Cyera, BigID, Cyberhaven	Cyera has become the private funding leader
Cloud security	Wiz, Orca Security, Aqua Security	Produced one of technology's largest acquisitions
Identity security	Saviynt, 1Password, Silverfort, Obsidian	Large rounds continue as AI creates more non-human identities
SASE and network security	Cato Networks, Netskope, Versa	Several billion-dollar funding histories
Security operations	Securonix, ReliaQuest, Devo, Exabeam	Large growth-equity rounds remain common
Exposure and validation	Armis, Axonius, Horizon3	Autonomous testing is pulling in fresh capital
Software supply chain	Snyk, Chainguard	Developer security still attracts very large rounds
Cyber insurance	Coalition, At-Bay, Resilience	Financing combines security software with insurance economics

Is AI really driving cybersecurity funding now?

Yes. AI has become one of the clearest reasons investors are putting fresh money into cybersecurity, especially around data access, machine identities and automated security work.

Cyera is the biggest example. Its newest financing explicitly centers on controlling what AI agents can see and do with company data.

Obsidian Security gives us another angle. The company raised $85 million in a Series D while expanding security around AI agents operating inside SaaS applications. Obsidian says it now has more than 100 customers spending over $100,000 annually and more than 14 spending above $1 million.

Horizon3 is using AI differently. Its NodeZero product autonomously attacks customers' own environments to find exploitable paths. The company reported 120% year-over-year ARR growth before raising $250 million.

ThreatLocker said part of its new $190 million financing will fund controls for AI-related security risks. Dream raised $260 million around sovereign AI and cyber defense for governments. Cato bought Aim Security to bring AI application and agent security into its wider platform.

The common thread is concrete access. AI agents can query databases, use credentials, call software tools and change things inside business systems. Protecting those actions is becoming a real security category with real budgets behind it.

Which cybersecurity startups are raising money fastest right now?

Cyera is raising capital at the fastest absolute pace, while Horizon3, Dream, ThreatLocker and Obsidian Security are among the clearest younger companies accelerating behind it.

Cyera has added roughly $1.94 billion since mid-2025 according to The Wall Street Journal. No other private cybersecurity company in our ranking comes close to that recent pace.

Horizon3 raised $250 million at a valuation above $2 billion. The company says its valuation more than tripled from $650 million in a little over a year while annual recurring revenue grew 120%.

Dream raised $260 million at a $3 billion valuation only three years after its founding. The company says it accumulated nearly $300 million of contract value after beginning commercial operations in late 2024.

ThreatLocker added $190 million in a Series F. Obsidian raised another $85 million and reached unicorn status. Claroty secured $150 million for cyber-physical security.

As seen above, Cyera is the extreme case. The wider point is that several newer cybersecurity companies can now raise $100 million to $250 million at a time. That is enough to reorder a cumulative funding table very quickly.

Is Horizon3 becoming a major cybersecurity company?

Yes. Horizon3 is still far below the billion-dollar funding leaders, but its growth and new $250 million Series E have pushed it firmly into the group worth watching.

Horizon3 raised the round at a valuation above $2 billion, more than triple the $650 million valuation attached to its previous financing just over a year earlier.

The operating numbers are more interesting than the valuation jump. Horizon3 says ARR increased 120% year over year and its NodeZero platform is now used by more than 7,000 organizations. The company has also run more than 310,000 autonomous security tests in production environments. Autonomous testing in live production environments is the kind of technology we sort from proven to still on paper in our market report about cybersecurity.

That scale makes Horizon3 different from an AI-security startup funded mainly around a future product idea. Customers are already using autonomous penetration testing at meaningful volume.

Our dataset still puts Horizon3 only around 35th by cumulative funding, with approximately $428 million raised. Its newest round alone represents well over half that amount.

Another financing anywhere near $250 million would move Horizon3 much closer to the established funding leaders.

Why has Island raised $730 million for a web browser?

Island has raised about $730 million because investors believe the enterprise browser can become a serious control point for corporate security rather than remaining a simple way to access websites.

Island raised $250 million in its Series E at a $4.8 billion valuation. Roughly a year earlier, a $175 million financing had valued the company at about $3 billion. The valuation had been around $1.5 billion in 2023.

The idea is fairly straightforward from a customer's perspective. Employees already spend much of their working day inside a browser accessing Salesforce, Microsoft 365, Workday, internal tools and other SaaS applications. Island puts security controls directly into that layer.

If the approach works broadly, companies can handle some access control, data protection and device policies inside the browser instead of stitching together as many separate products.

Island said it had approximately 450 customers around its Series E. Investors therefore had some real adoption to evaluate when they priced the company near $5 billion.

The remaining question is how much of the security stack the browser can realistically absorb. The $730 million funding total shows investors are willing to spend heavily to find out.

Why did investors put another $500 million into ReliaQuest?

Investors put more than $500 million into ReliaQuest because it already has a large security-operations business and its GreyMatter platform can work across the security tools enterprises already own.

EQT, KKR and FTV Capital backed the financing at a $3.4 billion valuation. ReliaQuest says GreyMatter integrates with more than 200 cybersecurity products.

That interoperability solves a practical problem. A large company may already run products from Microsoft, CrowdStrike, Palo Alto Networks, Splunk and several specialist vendors. Replacing all of them is unrealistic. ReliaQuest can sit across that environment and automate detection, investigation and response.

The company has also been pushing agentic AI into those workflows, which gives the older security-operations model a new growth angle.

ReliaQuest was founded long before the current AI wave, so the financing carries a different message from a giant early-stage round. Investors are backing an established cybersecurity business and giving it enough money to compete aggressively as automation changes the security operations center.

Who are the biggest investors in cybersecurity startups?

Goldman Sachs Alternatives, Lightspeed, Insight Partners, Evolution Equity Partners, KKR and several specialist cyber funds appear repeatedly across the most heavily financed cybersecurity companies.

Goldman Sachs Alternatives is now particularly visible. It has backed Cyera's latest extension and appears around companies including Vanta and Socure.

Lightspeed has invested across Wiz, Cato Networks, 1Password, Orca Security and other security businesses. Insight Partners has appeared in the funding histories of Wiz, Island, Aqua Security, Abnormal AI and Transmit Security. The same investors showing up again and again is something we follow in our market report about cybersecurity.

Evolution Equity Partners has backed Snyk, Armis, Aqua Security, Torq and Pentera. KKR appears behind ReliaQuest, NetSPI and Saviynt. Greylock has invested in Abnormal AI and Obsidian Security.

Cybersecurity also has specialist investors that repeatedly enter companies earlier. Cyberstarts, NightDragon and Ten Eleven Ventures are good examples.

The pattern is fairly common. Specialist investors often identify the company early. Large venture firms finance expansion. Growth-equity and private-equity funds arrive once the startup can absorb checks of several hundred million dollars.

That investor stack helps explain how cybersecurity companies can now reach cumulative funding totals above $1 billion without going public.

Is cybersecurity funding becoming concentrated in a few companies?

Yes. Around two-thirds of the money raised by the 20 most-funded companies in our dataset sits with the top ten.

The top 20 have raised approximately $22.6 billion in total. The top five account for about $9.5 billion, or roughly 42%. Expand the group to the top ten and the cumulative amount approaches $14.9 billion, around 66%.

Cyera alone represents close to 12% of the top-20 total. Cyera, Netskope and Wiz together account for almost 30%.

Recent market data point in the same direction. Cybersecurity funding reached about $18 billion in 2025, but at least seven rounds were $400 million or larger. A few transactions can therefore move the entire sector's annual total by several billion dollars.

This concentration gives the largest companies a second advantage beyond having more cash. They can buy smaller startups, hire aggressively and build additional products while competitors still depend on their next financing round.

Cyera's acquisition strategy is already showing what that looks like.

Group	Approx. combined funding	Share of top-20 funding
Cyera	$2.7B	~12%
Top 3	$6.7B	~30%
Top 5	$9.5B	~42%
Top 10	$14.9B	~66%
Top 20	$22.6B	100%

Are the most-funded cybersecurity startups still the hottest companies today?

No. Several companies near the top accumulated most of their funding years ago, while some of today's fastest fundraisers are much further down the ranking.

Fireblocks' $550 million Series E dates to 2022. 1Password's $620 million Series C came the same year. Coalition raised its $250 million Series F in 2022. Sysdig's $350 million Series G and Orca Security's $550 million Series C came in 2021.

Those rounds were so large that the companies remain high in a cumulative ranking years later. Where those vendors sit against the rest of the field today is shown on the market grids in our report covering the cybersecurity market.

The current fundraising group looks different. Cyera has been raising at an extraordinary pace. Horizon3 added $250 million. Dream raised $260 million. ThreatLocker secured $190 million. Obsidian added $85 million. Claroty raised $150 million.

Chainguard is another company moving quickly. Its $356 million Series D valued it at $3.5 billion and took cumulative funding to roughly $612 million in our dataset.

A lifetime funding ranking answers who has raised the most money altogether. If we want to know where new investor enthusiasm is strongest these days, recent fundraising velocity tells us more.

Which cybersecurity startups could move up the ranking next?

Horizon3, Dream, Chainguard, Abnormal AI, Vanta, ThreatLocker and Obsidian Security have some of the clearest paths to climbing the funding ranking if they keep raising at anything close to their current pace.

Chainguard already raised $356 million in one Series D at a $3.5 billion valuation. That pushed its cumulative funding to roughly $612 million in our dataset.

Abnormal AI raised $250 million at a $5.1 billion valuation and said it had passed $200 million in annual recurring revenue. Total expected proceeds reached $546 million.

Vanta raised $150 million at a $4.15 billion valuation after raising another $150 million the previous year. The company says more than 12,000 customers now use its trust-management platform.

Horizon3 added $250 million while reporting 120% ARR growth. Dream pulled in $260 million shortly after starting commercial operations. ThreatLocker secured $190 million. Obsidian raised $85 million while expanding around AI-agent security.

None of those companies has reached Cyera's level, and several are still hundreds of millions away from the billion-dollar group. Another two large rounds could change their positions dramatically.

The lower half of today's table may therefore be more dynamic than the top. Some older companies accumulated their money years ago, while these newer names are still moving quickly.

Does raising the most money mean a cybersecurity startup is winning?

No. Funding tells us how much financial backing a cybersecurity company has attracted, while revenue growth, customer adoption and eventual exit value tell us much more about what that money produced.

Wiz makes the point immediately. It raised about $1.9 billion and ultimately sold to Google for approximately $29.5 billion after adjustments.

Armis raised roughly $1.2 billion in our dataset and was acquired by ServiceNow for around $7.75 billion. Netskope raised heavily as a private company and then successfully reached the public market.

We also have private companies where the operating numbers support the large financings. Cato has reported more than $300 million in ARR. Saviynt says ARR has exceeded $300 million. Abnormal AI had passed $200 million in ARR when it announced its Series D. Horizon3 reported 120% ARR growth around its newest round.

Funding still matters. A company with $1 billion available can invest in engineering, enter new countries and acquire competitors at a pace that a $50 million startup cannot match.

But the leaderboard measures cumulative equity capital raised. It is a measure of financial backing, not a scoreboard for which cybersecurity company has created the most value.

So who is winning the cybersecurity funding race right now?

Cyera is clearly leading the private cybersecurity funding race right now, while the wider market has entered a period where a small group of companies can raise amounts that were once associated with IPOs.

Cyera sits at roughly $2.7 billion of cumulative funding and has raised close to $2 billion since mid-2025. That recent pace separates it even from historically well-funded companies such as Snyk, 1Password and Fireblocks.

The next layer is more mixed. Cato Networks has combined more than $1 billion of funding with several hundred million dollars of recurring revenue. Saviynt has attracted a $700 million growth round and another $255 million commitment while passing $300 million in ARR. ReliaQuest secured more than $500 million. Horizon3, Dream and ThreatLocker are moving upward rapidly. Turning big rounds into recurring revenue quickly is the kind of move we look at when studying what leaders do differently in our report on cybersecurity.

Wiz and Armis show what can happen once these companies reach strategic scale. Google paid approximately $29.5 billion for Wiz after adjustments, while ServiceNow paid approximately $7.75 billion for Armis.

There are really two cybersecurity funding races happening at the same time. One is the lifetime race, dominated by companies that have accumulated $1 billion or more over many years. The faster-moving race is happening among AI security, identity, autonomous testing, data security and software-supply-chain companies raising huge amounts now.

Cyera leads both for the moment. The more interesting question over the next few funding cycles is whether companies such as Horizon3, Chainguard, Dream, Saviynt and Obsidian can turn today's rapid fundraising into the kind of scale that Wiz and Armis eventually achieved.