22 Sep A $150 Million Dollar Cybersecurity Rocket Launcher
Allegis Capital says investing in cybersecurity isn’t for newcomers.
And Allegis is no newbie to security.
by Steve Morgan, Founder & CEO Cybersecurity Ventures, Sandhill.com – Sept 14, 2015 – If you haven’t heard of Allegis, then hear this: they recently closed on $100 million for a fund that is investing into cybersecurity startups. The Wall Street Journal reported that the fund’s target is about $150 million. That’s some serious rocket fuel about to be poured into young cybersecurity companies.
Based in Palo Alto, Calif., Allegis Capital is a VC firm that invests in early-stage, large-market opportunity cyber businesses.
One of Allegis’ target markets is IoT security. The Internet of Things security market is expected to grow from $6.89 billion in 2015 to $28.90 billion by 2020, according to a report from Markets and Markets. Research and advisory firm Technavio’s analysts forecast the global IoT security market to grow at a CAGR of nearly 55 percent over the period 2014 to 2019.
Another target market for the firm is security analytics, a market expected to be worth $3.22 billion globally by 2018, according to Markets and Markets. There’s a lot of headroom for growth in the big data and analytics market, which will reach $125 billion worldwide in 2015, according to research firm IDC. Big data analytics tools have emerged as the first line of defense for protecting corporate networks.