Security News > 2021 > April > Cybersecurity funding hits all time high in 2020
Continuing a decade-long run of high venture capital funding, 2020 proved to be a record year for cybersecurity investments with over $7.8 billion pouring into 665 deals globally.
Driven by an increase in cybersecurity events during the COVID-19 pandemic, remote work, and companies moving operations online, cybersecurity funding in the U.S. increased 22% from 2019 to 2020, according to Crunchbase's Rise Of Global Cybersecurity Venture Funding report.
"With cyberattacks continuing to threaten businesses and jeopardize personal privacy, cybersecurity remains not only a hot topic, but an imperative investment for any company, government or organization," the report said.
A record six new cybersecurity unicorns, were created in 2020.
U.S. and Israeli companies accounted for 90% of all venture funding for cybersecurity companies in 2020, with U.S. companies raking in $5.9 billion or 76% of all global cybersecurity funding.
The exit value in 2020 for cybersecurity companies was $6.8 billion globally across 72.