Cybersecurity in 6 charts: Wiz’s mega-round buoys funding in the first half of the year

We break down the cybersecurity landscape across funding trends, mega-rounds, M&A, and more.

One of the biggest funding stories so far this year is cloud security startup Wiz. In May, the company raised $1B at a $12B valuation — the largest cybersecurity equity funding round so far this year, driving quarterly equity funding to its highest level since Q2’22.

Wiz also considered a $23B acquisition by Google, before walking away from the offer in July with plans to pursue an IPO. The news comes alongside rising cyber consolidation as cyber leaders look to keep up with an evolving attack surface, with M&A activity up 14% quarter-over-quarter (QoQ).

We break down the cybersecurity landscape in H1’24 across funding trends, mega-rounds, exits, and more using CB Insights data

Below, we cover:

Equity funding and deal trends
$100M+ mega-rounds
Quarterly exit activity
Deal share by stage
Looking ahead

Equity funding and deal trends

Deals ticked upward and cybersecurity funding jumped in Q2’24, rising 85% QoQ.

This quarter’s funding was boosted by a $1B funding round to Wiz in May 2024, which accounted for 27% of the quarter’s total funding. Excluding this mega-round, equity funding was up 35% QoQ.