Onapsis Bags $31M as U.S. Cybersecurity Funding Slows
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retailers such as Levi’s; automotive companies like Daimler; manufacturers such as Siemens, Westinghouse, and Whirlpool; oil and gas companies like Schlumberger; and tech businesses like Sony.
“We have decided to double down and accelerate market share and revenue growth,” Nunez said.
Cirino, the .406 partner, predicts that we’re entering a period where fewer cybersecurity startups will get funded. There will also be an increase in “‘tuck-in’ acquisitions of small companies that can’t compete with the platform providers, but whose specific competency can further enhance a platform offering from a larger cyber provider,” she wrote in the statement to Xconomy.
Ultimately, she said, “cybersecurity is an arms race that will require ongoing innovation.”
“The truly differentiated and most innovative companies will get funded and will be able to grow their businesses,” she said. “IT executives don’t get fired for buying lots of cyber solutions if they keep the bad guys out in the process, but they sure feel the heat when they’ve spent a ton on cyber solutions and have to explain why an ‘avoidable’ breach occurred.”