Overview
The global cyber security market was valued at $160 bn. The market is projected to grow to $380 bn by 2029, exhibiting a CAGR of 13.4% during the forecast period. From 2023 to 2024, the global cyber insurance market grew from $16.66 bn to $21 bn and is projected to reach $120 bn by 2032, demonstrating a substantial 24.5% CAGR during the forecast period.
According to Beinsure Data, 75 cybersequrity unicorn starups (>$1 bn) raised up to 2025 more than $38.7 bn venture capital with cumulative valuation ~$229 bn.
The cyber security market is mainly driven by the emerging online e-commerce platforms and the advent of core technologies such as the internet of things (IoT), artificial intelligence (AI), cloud security, and others.
Key market players focus on developing internet security solutions based on artificial intelligence (AI) platforms.
TOP 75 Cyber Unicorns in the World by Valuation in 2025
| № | Company | Country | VC raised, $ mn | Valuation, $ bn |
| 1 | Wiz | US | 12,0 | 1 800 |
| 2 | SentinelOne | USA | 9,0 | 697 |
| 3 | Lacework | USA | 8,3 | 1 900 |
| 4 | Fireblocks | US | 8,0 | 1 000 |
| 5 | Netskope | US | 7,5 | 1 400 |
| 6 | Snyk | UK | 7,4 | 1 100 |
| 7 | 1Password | CA | 6,8 | 950 |
| 8 | CrowdStrike | USA | 6,8 | 481 |
| 9 | Auth0 | USA | 6,5 | 334 |
| 10 | Rubrik | USA | 5,6 | 927 |
| 11 | Darktrace | UK | 5,5 | 235 |
| 12 | Qi Anxin | CN | 5,4 | 295 |
| 13 | Abnormal Security | US | 5,1 | 534 |
| 14 | Coalition | US | 5,0 | 770 |
| 15 | Cohesity | US | 4,8 | 1 800 |
| 16 | KnowBe4 | USA | 4,6 | 384 |
| 17 | OneTrust | US | 4,5 | 1 100 |
| 18 | Socure | US | 4,5 | 646 |
| 19 | Arctic Wolf | US | 4,3 | 900 |
| 20 | Armis | US | 4,2 | 792 |
| 21 | JFrog | USA | 3,9 | 228 |
| 22 | Kingsoft Cloud | CN | 3,5 | 985 |
| 23 | Acronis | CH | 3,5 | 673 |
| 24 | Riskified | USA | 3,3 | 232 |
| 25 | Cato Networks | ISR | 3,0 | 770 |
| 26 | Cyera | US | 3,0 | 760 |
| 27 | 360 Enterprise Security Group | CN | 3,0 | 629 |
| 28 | Island | US | 3,0 | 550 |
| 29 | Nord Security | NL | 3,0 | 200 |
| 30 | Transmit Security | US | 2,7 | 543 |
| 31 | Axonius | US | 2,6 | 595 |
| 32 | JumpCloud | US | 2,6 | 452 |
| 33 | Unico | BR | 2,6 | 338 |
| 34 | Claroty | US | 2,5 | 740 |
| 35 | Aura | US | 2,5 | 717 |
| 36 | Vanta | US | 2,5 | 353 |
| 37 | BitSight | US | 2,4 | 402 |
| 38 | Duo Security | USA | 2,4 | 120 |
| 39 | ADVANCE AI | SG | 2,0 | 620 |
| 40 | Devo | US | 2,0 | 488 |
| 41 | Druva | US | 2,0 | 475 |
| 42 | Aviatrix | US | 2,0 | 347 |
| 43 | Drata | US | 2,0 | 328 |
| 44 | CertiK | US | 2,0 | 300 |
| 45 | Own Company | USA | 1,9 | 507 |
| 46 | Orca Security | US | 1,8 | 632 |
| 47 | Dragos | US | 1,8 | 432 |
| 48 | Sift | US | 1,8 | 208 |
| 49 | Huntress | US | 1,6 | 298 |
| 50 | Persona | US | 1,5 | 218 |
| 51 | At-Bay | US | 1,4 | 292 |
| 52 | Salt Security | US | 1,4 | 271 |
| 53 | Contrast Security | US | 1,4 | 270 |
| 54 | Panther | US | 1,4 | 142 |
| 55 | Tongdun | CN | 1,3 | 362 |
| 56 | Incode | US | 1,3 | 262 |
| 57 | Prove | US | 1,3 | 259 |
| 58 | Vectra | US | 1,1 | 353 |
| 59 | SecurityScorecard | US | 1,1 | 293 |
| 60 | Expel | US | 1,1 | 289 |
| 61 | Chainguard | US | 1,1 | 256 |
| 62 | EigenLayer | US | 1,1 | 165 |
| 63 | Material Security | US | 1,1 | 162 |
| 64 | Quantstamp | US | 1,1 | 147 |
| 65 | JupiterOne | US | 1,1 | 119 |
| 66 | BlueVoyant | US | 1,0 | 726 |
| 67 | Aqua Security | ISR | 1,0 | 326 |
| 68 | Immuta | US | 1,0 | 259 |
| 69 | BigID | US | 1,0 | 258 |
| 70 | Halcyon | US | 1,0 | 224 |
| 71 | Electric | US | 1,0 | 212 |
| 72 | Pentera | ISR | 1,0 | 190 |
| 73 | Shape Security | USA | 1,0 | 183 |
| 74 | CHEQ | ISR | 1,0 | 182 |
| 75 | Humanity Protocol | US | 1,0 | 30,0 |
TOP 75 Cyber Unicorns by Venture Capital Raised up to 2025
| № | Company | Country | VC raised, $ mn | Valuation, $ bn |
| 1 | Lacework | USA | 1 900 | 8,3 |
| 2 | Wiz | US | 1 800 | 12,0 |
| 3 | Cohesity | US | 1 800 | 4,8 |
| 4 | Netskope | US | 1 400 | 7,5 |
| 5 | Snyk | UK | 1 100 | 7,4 |
| 6 | OneTrust | US | 1 100 | 4,5 |
| 7 | Fireblocks | US | 1 000 | 8,0 |
| 8 | Kingsoft Cloud | CN | 985 | 3,5 |
| 9 | 1Password | CA | 950 | 6,8 |
| 10 | Rubrik | USA | 927 | 5,6 |
| 11 | Arctic Wolf | US | 900 | 4,3 |
| 12 | Armis | US | 792 | 4,2 |
| 13 | Coalition | US | 770 | 5,0 |
| 14 | Cato Networks | ISR | 770 | 3,0 |
| 15 | Cyera | US | 760 | 3,0 |
| 16 | Claroty | US | 740 | 2,5 |
| 17 | BlueVoyant | US | 726 | 1,0 |
| 18 | Aura | US | 717 | 2,5 |
| 19 | SentinelOne | USA | 697 | 9,0 |
| 20 | Acronis | CH | 673 | 3,5 |
| 21 | Socure | US | 646 | 4,5 |
| 22 | Orca Security | US | 632 | 1,8 |
| 23 | 360 Enterprise Security Group | CN | 629 | 3,0 |
| 24 | ADVANCE AI | SG | 620 | 2,0 |
| 25 | Axonius | US | 595 | 2,6 |
| 26 | Island | US | 550 | 3,0 |
| 27 | Transmit Security | US | 543 | 2,7 |
| 28 | Abnormal Security | US | 534 | 5,1 |
| 29 | Own Company | USA | 507 | 1,9 |
| 30 | Devo | US | 488 | 2,0 |
| 31 | CrowdStrike | USA | 481 | 6,8 |
| 32 | Druva | US | 475 | 2,0 |
| 33 | JumpCloud | US | 452 | 2,6 |
| 34 | Dragos | US | 432 | 1,8 |
| 35 | BitSight | US | 402 | 2,4 |
| 36 | KnowBe4 | USA | 384 | 4,6 |
| 37 | Tongdun | CN | 362 | 1,3 |
| 38 | Vanta | US | 353 | 2,5 |
| 39 | Vectra | US | 353 | 1,1 |
| 40 | Aviatrix | US | 347 | 2,0 |
| 41 | Unico | BR | 338 | 2,6 |
| 42 | Auth0 | USA | 334 | 6,5 |
| 43 | Drata | US | 328 | 2,0 |
| 44 | Cylance | USA | 327 | 0,2 |
| 45 | Aqua Security | ISR | 326 | 1,0 |
| 46 | CertiK | US | 300 | 2,0 |
| 47 | Huntress | US | 298 | 1,6 |
| 48 | Qi Anxin | CN | 295 | 5,4 |
| 49 | SecurityScorecard | US | 293 | 1,1 |
| 50 | At-Bay | US | 292 | 1,4 |
| 51 | Expel | US | 289 | 1,1 |
| 52 | Salt Security | US | 271 | 1,4 |
| 53 | Contrast Security | US | 270 | 1,4 |
| 54 | Incode | US | 262 | 1,3 |
| 55 | Immuta | US | 259 | 1,0 |
| 56 | Prove | US | 259 | 1,3 |
| 57 | BigID | US | 258 | 1,0 |
| 58 | Chainguard | US | 256 | 1,1 |
| 59 | Darktrace | UK | 235 | 5,5 |
| 60 | Riskified | USA | 232 | 3,3 |
| 61 | JFrog | USA | 228 | 3,9 |
| 62 | Halcyon | US | 224 | 1,0 |
| 63 | Persona | US | 218 | 1,5 |
| 64 | Electric | US | 212 | 1,0 |
| 65 | Sift | US | 208 | 1,8 |
| 66 | Nord Security | NL | 200 | 3,0 |
| 67 | Pentera | ISR | 190 | 1,0 |
| 68 | Shape Security | USA | 183 | 1,0 |
| 69 | CHEQ | ISR | 182 | 1,0 |
| 70 | EigenLayer | US | 165 | 1,1 |
| 71 | Material Security | US | 162 | 1,1 |
| 72 | Quantstamp | US | 147 | 1,1 |
| 73 | Panther | US | 142 | 1,4 |
| 74 | Duo Security | USA | 120 | 2,4 |
| 75 | JupiterOne | US | 119 | 1,1 |
The rise of cyber warfare and nation-state attacks presents significant risks in 2024, necessitating policy evolution, according to Flow’s latest industry report.
Recent notable attacks against public utilities include hacktivist attacks on water utilities in November 2023, where CyberAv3ngers compromised programmable logic controllers at water utilities in North America, Europe, and Australia, disrupting services for two days in at least one community.
Chinese state-backed hackers infiltrated U.S. water facilities, raising concerns about potential disruptions during conflicts. A Russian-linked hacktivist group attempted to disrupt operations at several Texas water utilities in early 2024 (see Cyber Risk Insurance Market Global Trends 2024).
Capacity for cyber insurance is expanding, with insurers offering more varied and comprehensive policies. The past six months have seen high-profile cyber incidents and data breaches with the average breach costing a record high of $4.45 mn.
These numbers are greatly influencing pricing trends to more accurately reflect the heightened risk environment. Additionally, a new regulatory landscape has emerged, with an increasing number of states introducing privacy laws and new rules regarding cybersecurity incident disclosure as adopted by the Securities and Exchange Commission (SEC).
New consumer privacy and data protection laws have now been instated in 18 states while many more bills are currently moving through various committees.
FAQ: Cybersecurity and Cyber Insurance Market Trends
The global cybersecurity market was valued at $160 bn and is projected to grow to $380 bn by 2029, with a compound annual growth rate (CAGR) of 13.4% during the forecast period.
Recent attacks include hacktivist group CyberAv3ngers compromising programmable logic controllers at water utilities in North America, Europe, and Australia in November 2023. This disruption affected services for two days in at least one community. Additionally, Chinese state-backed hackers infiltrated U.S. water facilities, and a Russian-linked hacktivist group targeted Texas water utilities in early 2024.
State-backed hackers from China and Russia have targeted U.S. water facilities, raising concerns about vulnerabilities in critical infrastructure. These incidents highlight the potential for disruptions during geopolitical conflicts.
According to Beinsure Data, 75 cybersecurity unicorn startups (valued over $1 bn) have raised over $38.7 bn in venture capital as of 2025, with a combined valuation of approximately $229 bn.
Capacity for cyber insurance is expanding, with insurers offering more comprehensive and diverse policies. The market is responding to a heightened risk environment, driven by record-high data breach costs averaging $4.45 mn.
The cyber insurance market grew from $16.66 bn in 2023 to $21 bn in 2024. It is expected to reach $120 bn by 2032, exhibiting a robust CAGR of 24.5% over the forecast period.
The increase in high-profile cyber incidents and costly data breaches has pushed insurers to adjust pricing to reflect the heightened risks accurately.
The regulatory environment has evolved significantly, with many states introducing new privacy laws and rules on cybersecurity incident disclosures. The SEC has also adopted regulations mandating stricter reporting requirements for cyber incidents.
Insurers are responding with innovative and more tailored policies, reflecting the rising costs of breaches and expanding coverage to address both traditional and emerging risks.
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Edited & Fact-checked by Oleg Parashchak – CEO Finance Media & Editor-in-Chief at Beinsure Media and Insurance TOP Ratings (24+ years of professional experience in Rankings, Insurance & Media).
