Top 20 Cybersecurity Companies & Startups to Watch in 2024

by Josh Howarth
May 30, 2024

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The cybersecurity space has grown rapidly amid the pandemic with an increased focus on IT.

Revenue in the industry is expected to surpass $183.1 billion in 2024. This figure is projected to reach $273.6 billion by 2028, growing at a 10.56% CAGR. 

The growth of the AI market is a key industry driver to keep an eye on. 

According to Morgan Stanley, the global AI-based cybersecurity product market will grow from $15 billion in 2021 to $135 billion by 2030.

We’ve prepared a list of 20 fast-growing startups that focus on tackling cybersecurity issues.

1. Abnormal Security 

5-year search growth: 1,383%

Search growth status: Exploding

Year founded: 2018

Location: San Francisco, CA

Funding: $284M (Series C)

What they doAbnormal Security offers a cloud-based email security platform that protects against targeted attacks (their software operates within Office 365 and G Suite environments.) The main use case is helping to detect email account compromises, block phishing and malicious attacks, and providing automated incident response options.

2. Cyware

5-year search growth: 41%

Search growth status: Regular

Year founded: 2016

Location: Jersey City, NJ

Funding: $73M (Series C)

What they doCyware builds Virtual Cyber Fusion Centers enabling SOAR and threat intelligence automation for organizations. Cyware products include automated analysis of threats designed to help with proactive threat investigations.

3. Snyk

5-year search growth: 658%

Search growth status: Exploding

Year founded: 2015

Location: Boston, MA

Funding: $1.2B (Corporate Round)

What they doSnyk is a software company that creates developer-first analysis tools to find and fix open-source vulnerabilities. Additionally, the product monitors loopholes in the application code. 2.2 million developers currently use the product.

4. Lacework

5-year search growth: 393%

Search growth status: Exploding

Year founded: 2015

Location: San Jose, CA

Funding: $1.9B (Series D)

What they doLacework helps with cloud security automation. The platform covers configuration assessment, threat detection, host intrusion detection, and compliance checks within multi-cloud environments. The software integrates with environments built with AWS, Azure, Google Cloud, and Kubernetes. The company has a current valuation of $8.3 billion after one of the biggest funding rounds in the United States of 2021.

5. Axonius

5-year search growth: 767%

Search growth status: Regular

Year founded: 2017

Location: New York, NY

Funding: $865M (Series E)

What they do: Axonius is a cybersecurity asset management platform for enterprise clients in industries including energy and retail. The platform has 317 pre-built integrations designed to automate inventory management. Specifically, the Axonius software identifies loopholes in asset security based on company cybersecurity policies and sends automated alerts to relevant team members when a potential loophole has been found.

In March 2024, the company raised $200 million in a Series E extension funding after exceeding $100 million in ARR in 2023. 

6. Noname Security

5-year search growth: 99x+

Search growth status: Exploding

Year founded: 2020

Location: Palo Alto, California

Funding: $220M (Series C)

What they do: Noname Security is an enterprise API security company. Their security platform uses AI-based detection to find API vulnerabilities like data leakage and cyber attacks. Enterprise organizations use this platform to cover all four pillars of API security, including Discovery, Posture Management, Runtime Security, and API Security Testing. They currently work with 20% of the Fortune 500 companies and were recently named to CRN's Security 100 list

7. HoxHunt

5-year search growth: 9,700%

Search growth status: Exploding

Year founded: 2016

Location: Espoo, Finland

Funding: $43.3M (Series B)

What they doHoxHunt is a cybersecurity awareness platform. So instead of preventing or managing attacks, the platform simulates phishing, social engineering, and other attacks in order to raise awareness among staff. It also rewards users who report potential security issues. HoxHunt provides cybersecurity training created for individuals who fail to recognize the threats.

According to the startup, their solution helps companies reduce phishing attacks by 70%. The startup's revenue reached $4.2M in 2023, increasing 49% year over year.

8. Arctic Wolf Networks

5-year search growth: 60%

Search growth status: Exploding

Year founded: 2012

Location: Eden Prairie, MN

Funding: $899.2M (Convertible Note)

What they doArctic Wolf Networks provides cloud security software and managed services that offer continuous monitoring and alerts. The platform uses APIs and machine learning to provide real-time analysis. And concierge security teams help fill the operational gap for personalized strategic guidance.

9. Tanium

5-year search growth: 27%

Search growth status: Regular

Year founded: 2007

Location: Kirkland, WA

Funding: $1B (Secondary Market)

What they doTanium is an endpoint management and security tool. Customers can retrieve data on every endpoint and execute changes in seconds, which allows organizations to boost protection from cyber threats.

10. Nozomi Networks

5-year search growth: 41%

Search growth status: Regular

Year founded: 2013

Location: San Francisco, CA

Funding: $266M (Series E)

What they doNozomi Networks is a cybersecurity platform specializing in OT and IoT protection. The company toolset provides real-time ICS monitoring, hybrid threat detection, asset inventory, and vulnerability assessment. Nozomi Networks recently raised $100 Million in Series E funding to scale product development.

11. Perimeter 81


5-year search growth: 313%

Search growth status: Regular

Year founded: 2018

Location: Tel Aviv, Israel

Funding: $165M (Series C)

What they doPerimeter 81 is a cybersecurity company that offers a cloud-based secure network solution for businesses. Its network as a service (NaaS) platform provides secure access to company resources and protects against network threats. Perimeter 81 offers businesses a simplified and secure way to manage their network, allowing employees to securely access company resources from anywhere.

12. Claroty

5-year search growth: 207%

Search growth status: Exploding

Year founded: 2015

Location: New York, NY

Funding: $740M (Series Unknown)

What they doClaroty is a cybersecurity toolset designed for industrial enterprise clients. Features include threat detection, remote access, and a management console solution. Specifically, the Claroty platform helps enterprise clients reveal, protect, and manage OT, IoT, and IIoT assets. In March 2024, the startup raised $100 million in strategic growth financing after the company crossed $100 million in ARR during 2023.

13. Deep Instinct

5-year search growth: 108%

Search growth status: Regular 

Year founded: 2015

Location: New York, NY

Funding: $321.6M (Series Unknown)

What they doDeep Instinct is a cybersecurity platform specialized in malware protection. Their product applies deep learning technology to proactively prevent attacks from happening. Deep Instinct’s solution supports more than 100 file types across all endpoints among the most common operating systems.

14. Arkose Labs


5-year search growth: 129%

Search growth status: Regular

Year founded: 2017

Location: San Mateo, CA

Funding: $106.5M (Series C)

What they doArkose Labs is a fraud and abuse prevention service. Their solutions span multiple use cases, including malicious scraping, fake account registration, and account takeover attacks.

15. Orca Security

5-year search growth: 642%

Search growth status: Regular

Year founded: 2019

Location: Portland, OR

Funding: $632M (Series C)

What they doOrca Security develops a security product for cloud infrastructure. It supports AWS, Azure, and Google Cloud. Orca Security’s software focuses on identifying system risks, including vulnerabilities and malware. Then, prioritizes each risk based on level of importance. With Orca's most recent series C funding round, the company is now valued at $1.8 billion which is a 50% increase from their previous valuation.

16. GitGuardian

5-year search growth: 5,000%

Search growth status: Regular

Year founded: 2017

Location: Paris, France

Funding: $56M (Series B)

What they doGitGuardian is a system that scans all GitHub public activity. The monitoring software helps prevent data leakage of API secret tokens, database credentials and certificates. And sends automated alerts when any of these threats are detected.

17. Immuta

5-year search growth: 224%

Search growth status: Exploding

Year founded: 2015

Location: Boston, Massachusetts

Funding: $258.2M (Series E)

What they doImmuta is a cloud-based data governance platform. The unified product interface includes sensitive data discovery, data access control, and data usage audit features that allow rapid access for relevant teams.

18. Red Canary

5-year search growth: 48%

Search growth status: Exploding

Year founded: 2014

Location: Denver, CO

Funding: $129.9M (Series C)

What they doRed Canary is a multi-dimensional endpoint threat detection system. Their platform combines automated software with human analysis to detect and respond to malicious events.

19. Privacera

5-year search growth: 2,800%

Search growth status: Peaked

Year founded: 2016

Location: San Francisco, CA

Funding: $67.3M (Series B)

What they doPrivacera is enterprise software that combines data discovery, classification, centralized access management, and data de-identification in its platform. Their data security and governance platform helps with sharing information without compromising regulatory compliance requirements.

20. Menlo Security

5-year search growth: 25%

Search growth status: Exploding

Year founded: 2012

Location: Mountain View, CA

Funding: $250.8M (Series E)

What they doMenlo Security is a cybersecurity company that develops tools against malware and phishing. The company’s technology mirrors content from a remote browser in the cloud in order to enable secure web access.


That concludes our list of 20 growing startups in the cybersecurity space.

From endpoint protection to email security, the products that these startups are creating tackle a wide range of cybersecurity business needs. With ongoing digital transformation, we can expect further growth in the cybersecurity space in 2024 and beyond.