CapitalG’s Post

𝐓𝐡𝐞 𝐈𝐏𝐎 𝐝𝐨𝐨𝐫𝐬 𝐚𝐫𝐞 𝐜𝐫𝐞𝐚𝐤𝐢𝐧𝐠 𝐨𝐩𝐞𝐧, 𝐬𝐢𝐠𝐧𝐚𝐥𝐥𝐢𝐧𝐠 𝐚 𝐩𝐨𝐭𝐞𝐧𝐭𝐢𝐚𝐥 𝐰𝐚𝐯𝐞 𝐨𝐟 𝐩𝐮𝐛𝐥𝐢𝐜 𝐨𝐟𝐟𝐞𝐫𝐢𝐧𝐠𝐬. Rubrik, a cybersecurity firm and one of our Tech IPO Pipeline predictions, just filed to go public, joining the list of exciting tech companies entering the public market. This news follows recent debuts from Astera Labs and Reddit, both also on our IPO Pipeline radar. To see all 250+ companies poised to hit the public markets soon, check out the complete list here: https://cbi.team/3UqUEjC #IPO #TechIPO #Cybersecurity #Startups #PublicMarkets

is thanking Fortune and Lightspeed for their confidence in us: Cato Networks. 🙌🤝 Cato has been cited in the first ever Fortune Cyber 60. 💥💫👏 The Fortune Cyber 60 is a new listing of the most important venture-backed startups that offer enterprise-grade cybersecurity solutions and have not had an IPO, acquisition, or other significant exit event. The list is segmented into alphabetized groups of 20 by three distinct phases: early stage companies; mid, or early growth stage companies; and late, or growth stage companies. #fortune | #lightspeed | #cyber60 | #catonetworks 🟢❇️✅🌐

When Rubrik was founded in 2013, the world was seeing a wave of #cybercrime and #ransomware. The migration of corporate data to the #cloud opened up a huge number of security fronts – which were constantly explored and challenged by bad actors. Rubrik provided novel solutions for safeguarding data across SaaS, cloud and enterprise environments, and continued to adapt its product to the growing demands of the global market. Now, with a team of 3,000 Rubrikans and over 6,100 customers, Rubrik has demonstrated its commitment to helping organizations achieve business resilience against #cyberattacks. #cyberresilience #cybersecurity #startup

It’s a monumental day for Rubrik. Congratulations to Bipul Sinha and the entire Rubrik team on being a publicly traded company! It has been one of the most rewarding experiences of my career to be involved in Rubrik’s growth, from inception to IPO, and I’ll be celebrating with their team - past and present - today. Before founding Rubrik, Bipul was a Partner at Lightspeed working with startups to help build and scale companies. While working with us, he learned to analyze important markets, which ultimately led him to identify a gap he wanted to fill. His drive and dream to start his own company pushed him to create Rubrik in 2014. I have watched Bipul Sinha and his Co-Founders, Arvind Jain, Arvind Nithrakashyap and Soham Mazumdar build Rubrik from an idea incubated at Lightspeed - no product, no revenue, no employees - to a leader in cybersecurity. Since the beginning, I believed in Rubrik’s ability to transform, evolve, and become a leader in cyber resilience. Now Rubrik has 3,000 Rubrikans and 6,100 customers, demonstrating its commitment to helping organizations achieve business resilience against cyberattacks. Building any company is not a linear path, and the same is true for Rubrik. We partnered with Bipul and his team through various stages of growth, with our commitment going beyond just capital. The partnership I’ve had with Bipul has been deep in the strategy and framework of scaling the company. It has been an absolute pleasure to be a part of this journey and to watch Rubrik transform from focusing on backup and recovery to being a global data security company. Bipul is a truly determined leader who makes the most of opportunities. He takes risks, moves fast, and believes in his intuition – these qualities brought him to Lightspeed as a Partner and then as a founder, and now as a leader of a publicly traded global company. From the whole team at Lightspeed, congratulations to Rubrik. https://lnkd.in/gs4p-M9A  #RubrikIPO

Ten days ago, my good friend and Altitude Cyber founder Dino B. released his annual 2023 #cybersecurity year-in-review. Here were a few interesting learnings: 1) #VC Fundraising was down significantly - $9.4B (49% YoY decrease) across 773 deals (25% YoY decrease). Financing activity was down even when compared to pre-pandemic levels. Early stage (seed/pre-seed) accounted for 48% of deals. 2) M&A Deal volume remained roughly flat - $48.5B (5% YoY decrease) across 271 deals (2% YoY decrease). One deal - Cisco's acquisition of Splunk - accounted for 60% of the total M&A for 2023! Several companies were taken private by PE investors - Absolute Software, Sumo Logic and Magnet Forensics. 3) Public cybersecurity companies saw strong valuation growth - High-growth public cyber median EV / Revenue multiple grew to 10x (52% YoY increase). There is now a strong pipeline of #IPO candidates including Arctic Wolf, Cato Networks, Netskope and Wiz, each with hundreds of millions in ARR. If the public markets remain healthy, we will likely see a few new issuances later this year. While the startup fundraising market is subdued more than ever before, the public markets have bounced back. This is an exciting time to be a founder. It might be harder to raise capital but that also means there will be less competition. I'm still actively investing, if you're working on something new please reach out! See the full report below or on Altitude Cyber's website: https://lnkd.in/g8rWu9qe

With public cybersecurity market activity firmly back in the headlines (Darktrace’s acquisition by Thoma Bravo and Rubrik’s IPO last week) and the RSA Conference just a few days away, we are pleased to publish our latest cybersecurity sector report. 🔎 We discuss the sector fundamentals and spotlight key investment themes, players, and valuation dynamics, focusing on European transaction activity. 👉 Get in touch if you'd like to discuss any aspects of the report or if you are considering a transaction in this space. #cybersecurity #infosec #cyberthreat #technology #mergersacquisitions #techstartups #privateequity #growthcapital #venturecapital #investmentopportunities

With investments into tech, data and cybersecurity now at the top of the agenda for Asia-Pacific CEOs, what are the drivers for acquisitions in 2024? 👇 Find out more: https://go.ey.com/4dhQnGS #MergersAndAcquisitions #CEOs #BetterWorkingWorld

Crazy stat - 13 out of 14 cybersecurity acquisitions in the last 6 quarters are Israel-based. A consolidation motion is taking place in the cybersecurity industry. The shift from point solutions to platform has pushed the largest security vendors in the world to buy up emerging technologies and expand their product suite. In fact, it’s still going on, with the upcoming acquisition of Noname Security by Akamai Technologies. My former colleagues Amit Karp, Michael Droesch and Yael Schiff at Bessemer Venture Partners just released a report on the global state of cybersecurity (link in the first comment), but it’s this one graph in particular that caught my attention. The story of global market consolidation is well covered. What’s striking is the sheer concentration of innovation in Israel. Israel-based cybersecurity companies are the most desirable acquisition targets in the world, with interest from incredible global companies like Palo Alto Networks, CrowdStrike, Cisco and Hewlett Packard Enterprise. These wonderful M&A outcomes are just the beginning of a greater wave. Over the next 6 quarters, I predict we will see Israel-based cybersecurity companies preparing to go public. The silent juggernauts that have already scaled past $100M+ of ARR are simply waiting for the IPO markets to open up. Who will be the first? Congratulations Cider Security (acquired by Palo Alto Networks), Axis, Lightspin (Acquired by Cisco), Laminar (acquired by Rubrik), Ermetic, a Tenable company, Bionic, a CrowdStrike Company, Perimeter 81, a Check Point Company , Talon (by Palo Alto Networks), Dig Security (acquired by Palo Alto Networks), Spera Security (by Okta), Avalor Security, a Zscaler Company, Flow Security, Gem Security (acquired by Wiz)

To re-emphasize a post that I made earlier. The pro-israel community, and Israelis in general, need to change the mental paradigm. Just because there are a lot of people in Europe or a lot of people in American Blue States does not necessarily make them powerful or more powerful over us! America is graduating millions and millions of kids that can't do even basic math. Whereas Israel is cranking out these kinds of high-tech startups, even in the middle of a multi-front war! Israel's population is slated to be 15 million by 2048. If just 1% of those people can be entrepreneurs and scientists. That's an army of 150,000 mathematicians and scientists. Some of the most promising startups in Silicon Valley have less than 100 employees... Israel can crank out hundreds of valuable startups every year. Meanwhile, the United States is so bankrupt and bereft of scientific talent that almost all of our research institutions are filled with immigrants... A nation of 300 million people that is forced to import executives that have real hard skills. Why should Israel be intimidated by a nation of 300 million people who can barely do math? Israel proves again that it's quality, not quantity that matters in the modern world. We should act like it! #Zionism #Zionist #Israel #StandwithIsrael

Mazel Tov. Turns out 13 out of 14 cybersecurity acquisitions in the last 6 quarters are Israel-based. The shift from point solutions to platform has pushed the largest security vendors in the world to buy up emerging technologies and expand their own products through M&A. Get ready. Bessemer Venture Partners issued their report and covered the consolidation in detail. What’s striking is the sheer concentration of innovation in Israel. Report is here: https://lnkd.in/dpqZRcby H/T to Tomer Diarai of Aleph below.