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Cybersecurity companies raised a reported $9.5 billion across 304 funding rounds in 2024, up from $8.7 billion across 346 rounds in 2023. That means more dollars flowed to fewer deals, according to figures from Pinpoint Search Group reported by SecurityWeek and Cybersecurity Dive. These are reported financing totals—not customer security spending or an audited measure of the entire cybersecurity market.
How much did cybersecurity companies raise in 2024?
Pinpoint Search Group’s reported tally was $9.5 billion across 304 funding rounds in calendar year 2024. SecurityWeek published the figures on January 8, 2025, and Cybersecurity Dive reported the same annual total. SecurityWeek and Cybersecurity Dive are secondary reports; the original Pinpoint report and its methodology are not established here.
The figure concerns funding tracked for cybersecurity firms. It should not be read as cybersecurity companies’ revenue, the amount customers spent on security, or the total value of the cybersecurity market. The cited articles do not establish the report’s geographic scope, deal inclusion rules, treatment of undisclosed rounds, or exact stage definitions, so the $9.5 billion should be attributed to Pinpoint’s reported tally rather than treated as a universal industry census.
Did cybersecurity funding increase from 2023?
Yes, the reported total rose from $8.7 billion across 346 rounds in 2023 to $9.5 billion across 304 rounds in 2024. Cybersecurity Dive characterized the increase in dollars as 9% year over year. The rounded annual totals also indicate growth, while the number of rounds declined by 42.
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That combination—more total capital but fewer rounds—suggests the average amount per round increased. This is a calculation from the reported totals, not a separately reported average-deal-size statistic; it does not mean that every company raised more.
How funding changed over the year
SecurityWeek reported the following quarterly totals and round counts from Pinpoint. Quarterly dollar amounts are rounded, so their sum is $9.45 billion, consistent with the rounded $9.5 billion annual figure.
| Quarter | Reported funding | Funding rounds |
|---|---|---|
| Q1 2024 | $2.3 billion | 77 |
| Q2 2024 | $3.3 billion | 98 |
| Q3 2024 | $2.15 billion | 73 |
| Q4 2024 | $1.7 billion | 56 |
Q2 was the strongest quarter by both reported dollars and number of rounds. Funding then fell in each of the next two quarters. The annual total should not be interpreted as a steady pace of financing throughout 2024.
Which funding stages received the money?
The reports describe a mismatch between the share of rounds and the share of dollars. SecurityWeek says early-stage deals made up 59% of round volume. Late-stage rounds represented 16% of rounds but generated more than half of the dollars. Cybersecurity Dive describes the pattern as nearly 60% of rounds being early-stage and more than half of funding going to late-stage companies.
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Those percentages use different denominators: early- and late-stage shares of the number of rounds are not shares of dollars. The reported pattern indicates that many rounds were early-stage while a smaller portion of later-stage rounds accounted for a large amount of capital; it does not provide the precise dollar totals by stage.
Which sectors and deals stood out?
Cybersecurity Dive identified data, identity, AI, detection and response, and vulnerability management as segments with the largest combined funding. The article did not provide category-level dollar totals, so the list indicates areas of concentration but does not establish which segment ranked first or by how much.
SecurityWeek highlighted several large rounds: Wiz raised $1 billion in Q2, Kiteworks raised $456 million in Q3, and Cyera raised $300 million in both Q1 and Q4. These are examples named in its report, not a complete ranking of all 2024 rounds.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the M&A figure does—and does not—show
Pinpoint tracked 79 cybersecurity M&A transactions, according to SecurityWeek. SecurityWeek also noted that its own M&A tracking method differed and counted approximately 400 deals. Because the trackers use different methodologies, these counts are not directly comparable and neither should be presented as a universal market-wide total.
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How to interpret the report
- It measures reported financing activity: funding raised in tracked rounds, not company sales, customer budgets, or market size.
- Deal count matters: the reported dollar total increased even as the number of rounds decreased.
- Stage percentages describe different things: round share and dollar share should not be conflated.
- The figures have limits: the original Pinpoint dataset and its definitions are not available in the cited secondary reports, so avoid extending the totals beyond their stated attribution.
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