Cybersecurity’s platform race is leaving attackers room to exploit the seams.
Canada’s 72-Hour Rule: Tenable’s Moment in the Critical Infrastructure Crosshairs
AT&T’s SASE Turbocharge: Palo Alto Networks’ Telco Moat Gets a Bandwidth Boost
Zscaler’s Ex-EVP Minocha Joins VC Ranks: What the Move Signals for Zero-Trust’s Next Act
Qualys’ Sub-10-Minute Cloud Breaches: The New Benchmark for AI-Powered Attacks
AI-powered data security posture management (DSPM) platform that discovers, classifies, and protects sensitive data across cloud and SaaS.
Cloud-native identity security platform that converges identity governance (IGA) and privileged access management (PAM) for human, machine, and AI-agent identities.
Agentic AI hyperautomation platform for the security operations center, marketed as an AI SOC.
Netskope delivers a converged security service edge and SASE platform that secures cloud, web, and private-app access from a single cloud.
AI-native email security platform that uses behavioral models to stop phishing, business email compromise, and account takeover.
Enterprise browser that builds security, governance, and data-loss controls directly into the browsing experience.
Automated security and compliance platform that continuously monitors controls and streamlines SOC 2, ISO 27001, and other certifications.
Software supply chain security company that builds hardened, minimal, continuously-patched container images and open-source artifacts.
Continuous security and compliance automation platform that streamlines SOC 2, ISO 27001, and other frameworks with always-on control monitoring.
Agentless cloud-native application protection platform (CNAPP) that scans entire cloud estates using patented SideScanning instead of deployed agents.
Tailscale builds a WireGuard-based zero-trust mesh VPN that connects devices directly into a private encrypted network.
Developer-first application security platform that finds and fixes vulnerabilities in custom code, open-source dependencies, containers, and infrastructure as code.
Password and secrets manager that has expanded into extended access management, securing identities, devices, and the apps employees actually use.
No-code security automation and orchestration (SOAR) platform for building workflows without scripting.
Cato Networks runs a single-vendor SASE cloud that converges networking and security into one global platform.
Software supply chain and application security platform that uses program-analysis and reachability to cut dependency-vulnerability noise.
Runtime-powered cloud-native application protection platform (CNAPP) built on the open-source Falco threat-detection engine.
Huntress delivers managed endpoint detection and response built for small and mid-sized businesses and the MSPs that serve them.
Developer-focused application security platform built on a fast, open-source static-analysis engine for code scanning, dependency analysis, and secrets detection.
Tanium runs a converged endpoint management platform that gives security and IT teams real-time visibility and control over every endpoint.
Cloud-native application protection platform that secures containers, Kubernetes, serverless, and cloud workloads from build through runtime.
Data discovery, classification, privacy, and data security posture management platform for enterprises and AI governance.
Cloud-native SIEM platform built on user and entity behavior analytics for threat detection, investigation, and response.
Arctic Wolf operates a cloud-native security operations platform delivering managed detection and response as a concierge-style service.
Cloud-native, detection-as-code SIEM built on a scalable security data lake.
Cloud-native data security posture management (DSPM) platform that secures sensitive data across cloud environments and AI pipelines.
Workload identity and access management platform that secures non-human, machine-to-machine access across clouds, SaaS, and data centers.
Agentic AI SOC platform that autonomously triages, investigates, and responds to security alerts.
Autonomous AI SOC analyst that investigates security alerts like a human tier-1 analyst.
CrowdStrike sells the cloud-native Falcon platform for endpoint protection, XDR, and threat intelligence.
Cloud identity platform providing workforce and customer identity, single sign-on, multi-factor authentication, and access management.
Platformized cybersecurity vendor spanning network security, cloud security, and AI-driven security operations.
Cyber-resilience and data security platform spanning backup, recovery, threat monitoring, and sensitive-data discovery across cloud, SaaS, and on-prem.
Identity governance and administration (IGA) platform that manages and secures user access to applications, data, and infrastructure.
SentinelOne builds the AI-driven Singularity platform for autonomous endpoint protection and XDR.
Exposure and vulnerability management company behind Nessus, helping enterprises find and prioritize security weaknesses across IT, cloud, and OT.
Data-centric security platform that monitors, classifies, and protects sensitive data across on-prem, cloud, and SaaS environments.
Zscaler runs a cloud-delivered zero-trust security service edge that connects users directly to applications without traditional network access.
Privileged access management (PAM) and identity security vendor protecting privileged accounts, sessions, and remote access.
Cloud-based vulnerability management, compliance, and exposure platform delivered as a subscription security service.
Venture capital deployed · 2026 YTD
Sector market cap
Largest raise · trailing 12mo
Catalysts ahead · next 12mo
Nothing on the calendar yet.
Wiz did not fail; it was absorbed into a larger parent. In March 2025 Google agreed to buy the company for about $32 billion in cash, the largest acquisition in Google's history and the biggest-ever purchase of a venture-backed startup. The transaction went through a 12-month global regulatory review and was unconditionally cleared in the U.S., the EU and several other jurisdictions, then closed in March 2026. On closing, Wiz ceased to exist as an independent company and joined Google Cloud, where its agentless CNAPP technology was integrated into Google's security portfolio.
Lacework raised more than $1.8 billion and reached a peak valuation of about $8.3 billion in November 2021, but the cloud-security market reset and slowing growth forced layoffs and a steep markdown in its value over the following two years. After exploring a sale, in June 2024 Fortinet agreed to acquire the company for undisclosed terms widely reported as a small fraction of its peak valuation, a fire sale relative to the money invested. The deal closed on August 1, 2024, and Lacework's CNAPP technology was integrated into the Fortinet Security Fabric and rebranded FortiCNAPP, ending Lacework as an independent company.
Senior talent moves · 18mo
Open frontier bottlenecks
Companies tracked
CISA updates its SBOM field guidance with a few dozen changes, though critics say it still lacks real risk-management improvements.
Nothing on the calendar yet.
Mega-rounds ($300M+) dominate: Cyera Series G ($600M), Series F ($400M), Series E ($540M); Wiz Series E ($1.0B); Lacework growth round ($1.3B). Median round size climbed 2021–2025. Seed and Series A activity collapsed; Prophet Security Series A ($30M) marks 18 months of near-silence at entry stages.
Capital concentrating hard in growth and late stages. Series D and beyond account for majority of 2024–2026 volume and nearly all mega-round activity. Mid-stage Series B-C rounds exist but shrinking in frequency. Early-stage starved; most funded Series A and B companies trace back to 2021 or earlier boom cohorts.
Evolution Equity Partners leads three consecutive Cyera/Torq rounds, emerging as sector kingmaker. Accel, Lightspeed Venture Partners, Kleiner Perkins anchoring multiple late-stage deals. Google's $32B Wiz acquisition (March 2025) signals strategic M&A appetite. Traditional tier-1 VC (Sequoia, Andreessen Horowitz) retreated to one-off bets or absent entirely post-2024.
Splunk did not fail; it was acquired and absorbed. In September 2023 Cisco agreed to buy the company for $157 per share in cash, roughly $28 billion in equity value, the largest acquisition in Cisco's history. The deal cleared antitrust review without conditions and closed on March 18, 2024. On closing Splunk ceased trading as an independent public company and was integrated into Cisco's security and observability portfolio, where its SIEM and machine-data platform became central to Cisco's strategy of unifying networking and security data.