What are the most valued startups in the cybersecurity market?

Last updated: 13 July 2026

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In our cybersecurity market deck, you will find everything you need to understand the market

The cybersecurity market includes cloud security, identity protection, compliance, cyber insurance, developer security and threat detection startups.

We update this valuation ranking every month to reflect new funding rounds, acquisitions, public listings and material changes in company performance.

The current dataset includes 91 cybersecurity companies with a combined midpoint valuation of approximately $224 billion.

And if you want to better understand this new industry, you can download our pitch covering the cybersecurity market.

A quick summary table

Metric Value
Most valuable cybersecurity startup Wiz, $32.0B
Second most valuable cybersecurity startup Cyera, $12.0B
Median cybersecurity startup valuation Approximately $1.3B
Cybersecurity valuation captured by the top 10 Approximately 43.6%
Top cybersecurity valuation vs. median Approximately 24.6 times
Median cybersecurity valuation-to-capital-raised ratio Approximately 4.4 times
Cybersecurity startups valued at $1B+ 60, based on midpoint valuations
Market map chart showing top companies and startups in the cybersecurity market

This market map, featured in our cybersecurity market deck, highlights top companies and startups in the cybersecurity market

Top startups in the cybersecurity market ranked by valuation

Here is an updated table that ranks the top startups in the cybersecurity market based on their latest reported or estimated valuations.

If you want more detaild about their fundraising activity, you can check our list of the startups who have raised the most funding in the cybersecurity market.

# Startup Name What They Do Current Valuation ($) Valuation Confidence Level Valuation Type Evidence Status Total Funding ($) Funding Confidence Level
1 Wiz Cloud security platform $32.0B Full Confidence Acquisition Value Observed $1.9B Partial Confidence
2 Cyera Data security platform $12.0B Full Confidence Announced Private Round Valuation Observed $250M Low Confidence
3 Tanium Endpoint management and security $8.0B–$10.0B Partial Confidence Proxy-Based Estimate Estimated $1.1B Partial Confidence
4 Armis Cyber exposure management $7.8B Full Confidence Acquisition Value Observed $900M Strong Confidence
5 Fireblocks Crypto asset security $7.0B–$8.5B Partial Confidence Comparables-Based Estimate Estimated $1.0B Strong Confidence
6 Snyk Developer security platform $6.5B–$8.0B Partial Confidence Revenue or ARR Multiple Estimate Estimated $1.2B Strong Confidence
7 1Password Password and secrets management $6.0B–$7.5B Partial Confidence Proxy-Based Estimate Estimated $920M Full Confidence
8 Coalition Active cyber insurance $4.5B–$5.5B Strong Confidence Announced Private Round Valuation Estimated $800M Full Confidence
9 Abnormal AI AI email security $4.5B–$5.5B Strong Confidence Announced Private Round Valuation Estimated $534M Strong Confidence
10 Cato Networks SASE cybersecurity platform $4.8B–$5.5B Strong Confidence Announced Private Round Valuation Implied $1.1B Partial Confidence
11 Island Secure enterprise browser $4.8B Full Confidence Announced Private Round Valuation Observed $730M Strong Confidence
12 Netskope SASE cloud security $4.8B Full Confidence Public Market Cap Observed $1.4B Strong Confidence
13 Socure Identity fraud verification $4.0B–$5.0B Strong Confidence Revenue or ARR Multiple Estimate Estimated $644M Strong Confidence
14 Sonar Code security platform $4.0B–$5.0B Strong Confidence Revenue or ARR Multiple Estimate Estimated $458M Strong Confidence
15 OneTrust Privacy compliance platform $3.5B–$4.8B Partial Confidence Proxy-Based Estimate Estimated $1.5B Partial Confidence
16 Ledger Crypto hardware wallets $4.0B–$4.5B Strong Confidence IPO or Listing Range Valuation Estimated $573M Strong Confidence
17 Vanta Security compliance automation $4.2B Full Confidence Announced Private Round Valuation Observed $504M Full Confidence
18 Chainguard Open-source supply-chain security $3.5B–$4.2B Strong Confidence Announced Private Round Valuation Estimated $612M Full Confidence
19 Claroty Cyber-physical systems security $3.0B–$4.5B Partial Confidence Implied Valuation from Raise Estimated $882M Strong Confidence
20 ReliaQuest AI security operations $3.4B–$4.0B Strong Confidence Announced Private Round Valuation Implied $830M Partial Confidence
21 Delinea Privileged access and identity security $3.2B–$4.4B Strong Confidence Revenue or ARR Multiple Estimate Estimated $94M Low Confidence
22 Saviynt Identity governance security $3.0B Strong Confidence Announced Private Round Valuation Observed $870M Partial Confidence
23 Dragos Industrial infrastructure cybersecurity $3.2B Full Confidence Acquisition Value Observed $439M Partial Confidence
24 Nord Security Consumer and business security suite $2.8B–$3.5B Strong Confidence Comparables-Based Estimate Estimated $200M Full Confidence
25 Dream Security Sovereign AI cyber defense $3.0B Full Confidence Announced Private Round Valuation Observed $415M Partial Confidence
26 Illumio Zero Trust Segmentation $2.4B–$3.0B Partial Confidence Announced Private Round Valuation Estimated $558M Full Confidence
27 Axonius Cyber asset management $2.2B–$2.8B Strong Confidence Announced Private Round Valuation Estimated $795M Full Confidence
28 Sysdig Cloud and container security $1.8B–$2.6B Partial Confidence Comparables-Based Estimate Estimated $744M Strong Confidence
29 Transmit Security Customer identity security $1.5B–$2.3B Partial Confidence Comparables-Based Estimate Estimated $543M Full Confidence
30 Drata Security compliance automation platform $1.6B–$2.2B Partial Confidence Comparables-Based Estimate Estimated $328M Full Confidence
31 BitSight Cyber-risk ratings and intelligence $1.8B–$2.2B Strong Confidence Revenue or ARR Multiple Estimate Estimated $397M Strong Confidence
32 Huntress Managed SMB cybersecurity $1.6B–$2.0B Strong Confidence Revenue or ARR Multiple Estimate Estimated $268M Full Confidence
33 Aura Consumer online safety $1.4B–$1.8B Strong Confidence Announced Private Round Valuation Estimated $650M Partial Confidence
34 BlueVoyant Managed cyber defense platform $1.2B–$1.8B Partial Confidence Revenue or ARR Multiple Estimate Estimated $666M Strong Confidence
35 Devo Security analytics logging $1.2B–$1.8B Partial Confidence Revenue or ARR Multiple Estimate Estimated $500M Partial Confidence
36 Versa Networks SASE and secure networking $1.2B–$1.8B Partial Confidence Revenue or ARR Multiple Estimate Estimated $271M Partial Confidence
37 Tailscale Secure mesh networking $1.3B–$1.6B Strong Confidence Announced Private Round Valuation Observed $275M Full Confidence
38 Orca Security Agentless cloud security platform $1.1B–$1.5B Partial Confidence Revenue or ARR Multiple Estimate Estimated $640M Strong Confidence
39 At-Bay Cyber insurance and security $1.2B–$1.5B Partial Confidence Comparables-Based Estimate Estimated $292M Strong Confidence
40 Salt Security API security platform $1.1B–$1.5B Partial Confidence Revenue or ARR Multiple Estimate Estimated $270M Partial Confidence
41 Panther Labs Cloud security analytics $1.1B–$1.5B Partial Confidence Acquisition Value Estimated $140M Strong Confidence
42 Semperis Identity-system cyber resilience $1.1B–$1.5B Strong Confidence Revenue or ARR Multiple Estimate Estimated $254M Partial Confidence
43 CertiK Blockchain and smart-contract security $1.0B–$1.6B Partial Confidence Revenue or ARR Multiple Estimate Estimated $300M Partial Confidence
44 NetSPI Penetration testing platform $1.0B–$1.6B Partial Confidence Implied Valuation from Raise Estimated $500M Partial Confidence
45 Exabeam SIEM and security analytics $1.2B–$2.0B Low Confidence Comparables-Based Estimate Estimated $390M Strong Confidence
46 ThreatLocker Zero-trust endpoint protection $1.1B–$1.4B Strong Confidence Announced Private Round Valuation Observed $299M Partial Confidence
47 Silverfort Unified identity threat protection $1.1B–$1.5B Strong Confidence Revenue or ARR Multiple Estimate Estimated $223M Strong Confidence
48 Tines Security workflow automation $1.1B–$1.3B Strong Confidence Announced Private Round Valuation Estimated $271M Strong Confidence
49 Torq AI security-operations automation $1.2B Full Confidence Announced Private Round Valuation Observed $332M Strong Confidence
50 Teleport Infrastructure identity access $1.0B–$1.3B Partial Confidence Revenue or ARR Multiple Estimate Estimated $169M Strong Confidence
51 Pentera Automated security validation $1.0B–$1.2B Strong Confidence Announced Private Round Valuation Estimated $250M Full Confidence
52 Cyberhaven AI data loss prevention $1.0B–$1.2B Strong Confidence Announced Private Round Valuation Estimated $236M Strong Confidence
53 Obsidian Security SaaS application security $900M–$1.4B Partial Confidence Comparables-Based Estimate Estimated $120M Full Confidence
54 Beyond Identity Passwordless identity security $900M–$1.2B Partial Confidence Comparables-Based Estimate Estimated $205M Full Confidence
55 Expel Managed threat detection $900M–$1.2B Partial Confidence Revenue or ARR Multiple Estimate Estimated $258M Full Confidence
56 Vectra AI AI network threat detection $900M–$1.3B Partial Confidence Revenue or ARR Multiple Estimate Estimated $425M Partial Confidence
57 eSentire Managed detection and response $900M–$1.1B Partial Confidence Revenue or ARR Multiple Estimate Estimated $412M Partial Confidence
58 Material Security Cloud email protection $800M–$1.1B Partial Confidence Revenue or ARR Multiple Estimate Estimated $162M Strong Confidence
59 Aqua Security Cloud-native application security $800M–$1.1B Partial Confidence Comparables-Based Estimate Estimated $325M Full Confidence
60 Menlo Security Secure enterprise browser platform $800M–$1.1B Partial Confidence Revenue or ARR Multiple Estimate Estimated $261M Strong Confidence
61 Contrast Security Runtime application security platform $800M–$1.1B Partial Confidence Revenue or ARR Multiple Estimate Estimated $270M Strong Confidence
62 Corelight Network detection and response $800M–$1.0B Partial Confidence Comparables-Based Estimate Estimated $309M Full Confidence
63 Horizon3.ai Autonomous penetration testing $800M–$1.0B Strong Confidence Announced Private Round Valuation Implied $179M Strong Confidence
64 Securonix SIEM security analytics $800M–$1.3B Low Confidence Revenue or ARR Multiple Estimate Estimated $1.0B Low Confidence
65 Bugcrowd Crowdsourced security testing $750M–$1.0B Partial Confidence Implied Valuation from Raise Implied $182M Strong Confidence
66 Keeper Security Password and secrets security $600M–$850M Partial Confidence Revenue or ARR Multiple Estimate Estimated $60M Partial Confidence
67 Cybereason Endpoint security platform $700M–$900M Low Confidence Acquisition Value Estimated $850M Partial Confidence
68 Resilience Cyber insurance and risk management $700M–$1.0B Partial Confidence Implied Valuation from Raise Implied $325M Partial Confidence
69 XM Cyber Attack-path exposure management $700M Full Confidence Acquisition Value Observed $49M Full Confidence
70 CHEQ Digital advertising fraud prevention $650M–$900M Partial Confidence Comparables-Based Estimate Estimated $171M Partial Confidence
71 Malwarebytes Anti-malware protection $600M–$900M Partial Confidence Revenue or ARR Multiple Estimate Estimated $180M Full Confidence
72 Deepwatch Managed detection and response $550M–$800M Partial Confidence Implied Valuation from Raise Implied $256M Partial Confidence
73 HUMAN Security Bot and digital-fraud defense $450M–$700M Partial Confidence Implied Valuation from Raise Implied $299M Partial Confidence
74 Safe Security Cyber-risk quantification and automation $470M–$880M Partial Confidence Implied Valuation from Raise Implied $167M Partial Confidence
75 HackerOne Bug bounty platform $500M–$800M Low Confidence Comparables-Based Estimate Estimated $159M Full Confidence
76 BigID Data security and privacy $350M–$650M Partial Confidence Revenue or ARR Multiple Estimate Estimated $306M Strong Confidence
77 Bishop Fox Offensive security services $350M–$550M Low Confidence Revenue or ARR Multiple Estimate Estimated $154M Strong Confidence
78 Deep Instinct Deep-learning malware prevention $300M–$500M Low Confidence Revenue or ARR Multiple Estimate Estimated $322M Partial Confidence
79 Lookout Mobile endpoint security platform $300M–$500M Low Confidence Proxy-Based Estimate Estimated $281M Strong Confidence
80 Secure Code Warrior Secure coding training platform $300M–$420M Partial Confidence Revenue or ARR Multiple Estimate Estimated $101M Strong Confidence
81 Cycode Software supply-chain security $240M–$380M Partial Confidence Comparables-Based Estimate Estimated $81M Full Confidence
82 TrustArc Privacy compliance software $250M–$400M Low Confidence Comparables-Based Estimate Estimated $107M Strong Confidence
83 Arkose Labs Bot and account fraud prevention $250M–$400M Partial Confidence Revenue or ARR Multiple Estimate Estimated $114M Partial Confidence
84 CyCognito External attack-surface management $250M–$380M Partial Confidence Revenue or ARR Multiple Estimate Estimated $153M Full Confidence
85 SoSafe Human-risk security training $280M–$420M Low Confidence Implied Valuation from Raise Implied $73M Partial Confidence
86 JupiterOne Cyber asset and attack management $250M–$450M Low Confidence Revenue or ARR Multiple Estimate Estimated $119M Full Confidence
87 Synack Crowdsourced security testing $200M–$320M Low Confidence Revenue or ARR Multiple Estimate Estimated $112M Full Confidence
88 Stellar Cyber Open XDR security platform $160M–$220M Partial Confidence Comparables-Based Estimate Estimated $68M Strong Confidence
89 Cobalt Pentesting as a service $120M–$200M Low Confidence Revenue or ARR Multiple Estimate Estimated $37M Strong Confidence
90 Skybox Security Security exposure and risk analytics $0M–$10M Low Confidence Acquisition Value Estimated $343M Partial Confidence
Chart comparing the 2026 size of the cybersecurity market with other markets of similar size

This chart, included in our cybersecurity market deck, compares the 2026 size of the cybersecurity market with other markets of similar size

Key valuation trends in the cybersecurity market

Insights

  • Cybersecurity valuation is highly concentrated. The ten largest companies represent approximately $97.7 billion, or almost 44% of the combined midpoint valuation in this ranking.
  • Wiz alone is valued at $32 billion, approximately 24.6 times the median cybersecurity startup valuation and more than the combined midpoint value of several major billion-dollar security platforms.
  • Nord Security has a midpoint valuation near $3.2 billion after raising only $200 million, producing one of the strongest capital-efficiency profiles among scaled cybersecurity companies.
  • XM Cyber’s $700 million acquisition value equals more than fourteen times its reported funding, making XM Cyber the clearest realized capital-efficiency outcome among the acquired companies in the dataset.
  • Abnormal AI and Coalition both cluster near $5 billion, showing that AI-native email protection and cyber insurance can each support platform-scale cybersecurity valuations.
  • Identity, access and verification startups repeatedly reach billion-dollar valuations with less funding than many cloud infrastructure vendors, which points to durable strategic demand for identity-focused security products.
  • Cloud security, developer security and software supply-chain protection dominate the upper valuation ranks, while mature endpoint vendors and services-heavy businesses generally receive lower valuation multiples.
  • Tailscale’s midpoint valuation of approximately $1.5 billion on $275 million raised compares favorably with several cybersecurity companies that have raised more than $500 million.
Chart showing CrowdStrike’s playbook in the cybersecurity market

This chart, included in our cybersecurity market deck, breaks down CrowdStrike’s playbook in cybersecurity

A few word about our methodology

As you can see, we built a database that ranks startups in the cybersecurity market based on their current valuation.

Estimating cybersecurity startup valuations is not always straightforward. Many private security companies do not publicly disclose their valuation, and available information varies widely by company, financing stage and cybersecurity category.

To build this ranking, we applied a structured valuation methodology and cross-checked information across multiple reliable sources.

Whenever possible, we relied on direct disclosures. These include announced valuations from completed funding rounds, public filings for listed cybersecurity companies, or official acquisition prices.

When a cybersecurity company is publicly listed, we use its current market capitalization as the reference valuation.

If a cybersecurity company was acquired and no independent valuation can reasonably be estimated today, we use the acquisition price as the main reference point.

When a startup recently raised capital but the valuation was not disclosed, we estimate the implied valuation using typical dilution levels for that stage of fundraising.

In some cases, we also estimate cybersecurity valuations using operating metrics such as revenue, ARR, customer growth or enterprise adoption, combined with valuation multiples from comparable security software companies.

When direct financial data is not available, we may rely on carefully selected comparable cybersecurity startups and other signals such as hiring growth, investor quality, product traction, customer adoption or strategic importance.

All estimates follow a strict evidence hierarchy. Recent funding rounds with announced valuations carry the most weight, followed by strong operating metrics and comparable company analysis.

We also carefully evaluate the age of every data point. Recent cybersecurity funding and operating information carries more weight, while older information is treated cautiously and adjusted conservatively when necessary.

Whenever information is uncertain or incomplete, we clearly distinguish between confirmed facts and reasonable inferences.

Because private cybersecurity valuation data is not always fully public, each startup in the ranking is assigned a confidence level based on the reliability, recency and consistency of the available evidence.

Full confidence means the valuation is supported by strong and recent evidence. Strong confidence means the estimate is well supported but includes minor inference. Partial confidence means the estimate relies more heavily on indirect signals. Low confidence means available information is limited or inconsistent.

When confidence is lower, we take a more conservative approach by widening the valuation range. This reflects the uncertainty and increases the probability that the true cybersecurity company valuation falls within the estimated range.

This reflects how we conduct all our research, including the work behind our report covering the cybersecurity market.

In a world where LLMs hallucinate and unreliable information is everywhere, our goal is simple: provide data you can trust.

If you want the full detail on a specific valuation estimate, feel free to contact us and we will gladly explain.

Finally, know that we update the dataset once per month, so come back here if you need fresh information.

Chart showing the projected CAGR of the cybersecurity market

This chart, included in our cybersecurity market deck, illustrates yearly funding for cybersecurity startups

Related blog posts

- The latest news in the cybersecurity market

- The latest funding news in the cybersecurity market

- What is the latest update in the cybersecurity market?

- The evolution of funding activity in cybersecurity

- The main fundraising trends in cybersecurity

- How large is the cybersecurity market really?

- The full range of business models in the cybersecurity market

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