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10 Top Cybersecurity News Stories Of 2020

The cybersecurity industry in 2020 saw lots of outside money to address challenges around securing a remote workforce, with vendors tapping into the deep pockets of public investors and private equity, while solution provider giants found themselves being targeted with ransomware.

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10. Two Cybersecurity Vendors Strike It Rich With IPOs

The economic uncertainty stemming from the COVID-19 pandemic cooled off the initial public offering market in 2020, with just two cybersecurity vendors completing IPOs, down from four in 2019. More public market activity could be on the way, though, with Reuters reporting in September that KnowBe4 was looking into an IPO that would value the security awareness training vendor at more than $2 billion.

Redwood City, Calif.-based SaaS machine data analytics company Sumo Logic kicked things off in September, raising $325.6 million in a $22-per-share Nasdaq public offering valuing the company at $2.2 billion. The company’s stock is currently trading at $32.19 per share, with Sumo Logic’s market cap soaring by nearly 50 percent to $3.29 billion.

A month later, Santa Clara, Calif.-based platform security vendor McAfee raised $740 million in a $20-per-share Nasdaq public offering valuing the company at $9.5 billion. The company’s stock is currently trading at $17.76 per share, with McAfee’s market cap tumbling by more than 20 percent to $7.54 billion.

 
 
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