The coronavirus pandemic is, without doubt, the greatest challenge the world has faced in a generation. But the rotations of the world hinder turning, albeit slower than during normal times.
But where the world has faced challenges, the cybersecurity industry remains largely unscathed. In reality, some cybersecurity transactions are doing better than ever because cybersecurity has emerged as one of the few constants we all need — even during a pandemic.
The vast majority of the global workforce is( or has been) operating from dwelling since the beginnings of the lockdown, and the world had to quickly adjust. Tech companies propagandized their engineering and services to the cloud. Businesses had to shift from not just securing their bureau structure but likewise impeding menaces against their most assigned hires wreaking from their own homes. And, intruders are retooling their attacks to be coronavirus themed, meeting them far more likely to succeed.
All of these things — and more — need certificate. Or, as one investor told us:” Many of these trends were already underway, but COVID-1 9 is an accelerant .” That’s helped cybersecurity conglomerates brave the tornado of this pandemic.
We spoke to a dozen cybersecurity VCs to hear their estimations on how COVID-1 9 has changed the asset countryside 😛 TAGEND
Ariel Tseitlin, Scale Venture Partners Shardul Shah, Index Ventures Theresia Gouw and Mark Kraynak, Acrew Capital Niloofar Razi Howe, Energy Impact Partners Matt Bigge, Crosslink Capital Sarah Guo, Greylock Partners Deepak Jeevankumar, Dell Technologies Capital Umesh Padval, Thomvest Ventures Saam Motamedi, Greylock Partners Alex Doll, Ten Eleven Ventures Dharmesh Thakker, Battery Ventures
Here’s what they told us.( Rebuts have been revised in the interests of clarity .)
Ariel Tseitlin, Scale Venture Partners
Security budgets haven’t been affected nearly as much as broader IT deplete. We continue to see existing portfolio corporations grow follow-on financings, and we continue to meet with companies for new capacity assets. The big change in my the criteria used for new speculations is that a company must be able to continue growing in the current environment. We don’t know how long this downturn will previous, so I don’t buy into the promise of” as soon as the economy recovers, emergence will resume .”
Shardul Shah, Index Ventures
On Microsoft’s last-place earnings announce, chief executive Satya Nadella said:” As COVID-1 9 jolts all other aspects of our working and living, we have seen two years value of digital translation in 2 month .” This acceleration has actually composed impetu for a number of cybersecurity occupations, which is why the best corporations continue to draw significant interest from investors. I act on the board of security firm Expel, which raised $ 50 million in the middle of this crisis.
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