Navigating The Network
The growth of Bring Your Own Devices (BYOD) policies along with more work from home amid the pandemic is expected to boost network security demand. The global network security market is slated to achieve a compound annual growth rate of 12 percent in the coming years, going from $24.9 billion in 2020 to $60.4 billion in 2028, according to Fortune Business Insights.
Five companies on our list secured six-figure funding rounds, including: Armis, which raised $300 million on a $3.4 billion valuation; Cato Networks, which raised $200 million on a $2.5 billion valuation; Claroty, which raised $400 million on an undisclosed valuation; Dragos, which raised $200 million on a $1.7 billion valuation; and Vectra, which raised $130 million on a $1.2 billion valuation.
Three network security vendors on our list bolstered their technological bona fides through acquisition. Some notable deals include: Cisco’s purchase of Kenna Security to help customers more effectively prioritize vulnerabilities; Claroty’s buy of Medigate to help protect hospitals and life sciences firms; and Ivanti’s acquisition of RiskSense to help clients shrink their attack surface and prioritize vulnerabilities.
As part of CRN’s 2022 Security 100, here’s a look at 20 network security vendors offering everything from log filtering and encrypted traffic visibility to containerized firewalls and SD-WAN.