Cyber security spend over £850m

Cyber security spend over £850m

New research from US company CBI Insights has revealed that corporate investments in cyber security have increased by 500 per cent within the last five years. The last 12 months alone have seen growth of 30 per cent.

The report draws from  a database held by the company that shows corporate investors’ involvement in more than 140 financial dealings, which came to more than £850m invested in cyber security firms since 2010.

Some people have said that the statistics are impressive with two months left in 2014, a year that has already seen large funding investments made into such firms as Ionic Security, Centrify, and Skyhigh Networks, in addition to companies specialising in encrypting browser traffic, cyber intelligence and authentication.

New York and Massachusetts, along with Silicon Valley, were the US regions that saw the most deals. Outside of the US, Israel was the most active market.

BH Consulting’s managing director, Brian Honan, told SCMagazineUK.com in an email that the market’s continuing growth is a positive sign. He explained:

“It is welcome to see this level of investment in the cyber security field as it demonstrates that security is now becoming [important for] companies, both as consumers of that technology and also as investors.”

The funding is good news for the firms in question and it just may influence smaller businesses, albeit on a smaller scale. All enterprises are susceptible to cyber security issues, and investing in IT security recruitment campaigns would be a great way to prepare for any possible threats.

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