- Investments in cybersecurity companies pick up after high-profile breaches earlier this year
- Investors have put $12.2 billion into these businesses so far this year, more than double what was invested in 2016
- The White House is urging the private sector to ramp up their cybersecurity efforts
Summary by Dirk Langeveld
Investments in companies offering cybersecurity services have ramped up as recent cyberattacks prompt heightened concerns about business disruptions.
According to the New York Times, investors have put $12.2 billion into cybersecurity companies so far in 2021. This figure is up $2 billion compared to all of 2020 and more than double what was invested in all of 2016.
- The trend follows high-profile digital breaches this year, including one that affected Microsoft Outlook servers and a ransomware attack on a pipeline servicing the Southeast
- The demand for improved cybersecurity has also increased as companies permit more remote and hybrid work options
- The White House is calling on the private sector to aid in efforts against cyberattacks, including strengthening their own protections and voluntarily sharing information with the federal government to identify and address potential threats
