Cybersecurity Market Review
2elXGia
2elXGia
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Private Equity<br />
’s <strong>Cybersecurity</strong><br />
The Highly Fragmented <strong>Cybersecurity</strong> <strong>Market</strong> Lends Itself To the PE Platform/Roll-Up Playbook.<br />
Major <strong>Cybersecurity</strong> PE ‘Platform’ Plays<br />
Recent <strong>Cybersecurity</strong> PE Activity<br />
PE Firm Platform Add-Ons Exit<br />
Acquired By<br />
Acquired By Acquired By Acquired By<br />
($2.4B / NA)<br />
($4.7B / 7.9x)<br />
($971M / 2.7x)<br />
None<br />
($1.9B / NA)<br />
$4.2B<br />
$1.3B $488M $1.5B<br />
§ Expect these companies and their sponsors to utilized M&A to complement organic growth<br />
($550M / 1.9x) Beep Science ($890M / 2.0)<br />
Late Stage / Pre-IPO Activity<br />
(NA / NA)<br />
(NA / NA)<br />
($710M / 6.0x)<br />
─<br />
Series A<br />
$180M<br />
Series D<br />
$100M<br />
Private Equity<br />
$96M<br />
Private Equity<br />
$187M<br />
(NA / NA)<br />
─<br />
(NA / NA)<br />
─<br />
Series B<br />
$250M<br />
Series G<br />
$148M<br />
Series D<br />
$110M<br />
Series G<br />
$76M<br />
($600M / NA)<br />
─<br />
§ PE/late stage and public/cross-over investors have strong appetite for break-out cybersecurity<br />
stories that could exit via an IPO in 12 – 24 months<br />
7
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