If you track 2,635 cybersecurity companies, as I do, how do you know which ones to pay attention to?
Those with public relations teams who inform you? They often have a great story to tell and have an interesting new technology to prove.
New rounds of financing with high ratings? This can be a great key indicator. At least one investor believes the company will do well.
Those who publish great research reports? Absolutely. If they share new things, it’s worth learning and looking at them.
I’ve found that tracking the workforce, as LinkedIn reports, is also very helpful. It is open source and therefore difficult to manipulate by the vendors themselves. (Well, they could create a lot of fake employees to increase their numbers, but they would get caught).
For the 2021 Security Yearbook and my other research reports, I have collected template data for all providers tracked for each quarter since January 2020. That’s five-quarters of the data.
Here are the top 20 fastest growing cybersecurity companies in the first quarter of 2021. I eliminated vendors that doubled the number of computers from one to two employees and therefore grew by 100%. Even companies that grew from three to seven are worth seeing if they continue to grow.
The growth of staff providers can often be taken into account if recent funding is taken into account. What else will you do if you earn $ 130 million that you don’t hire a lot of people? The real vision comes when newly funded companies stop adding people and even decrease cash. I am looking for a change of management or a quick sale if it occurs. Many companies stopped hiring in March last year during the uncertain start of the pandemic, amid concerns of a financial slowdown. Most cybersecurity companies performed well last year and began hiring again in the third quarter.
According to my data, the leader in growth was a 2FA Polish company called Rublon. They sell an app for smartphones that are used for access control. Because this is exactly what Cisco’s Duo does, it’s a great example of how a regional company can thrive. Many customers prefer to shop locally. Rublon grew from three to 13 employees in the first quarter.
Cortex Insight experienced similar growth: from four to 13 people. They are a SaaS platform for vulnerability management based in the UK.
Transbox, a Korean information rights management solution, went from seven to 20 people in the first quarter.
HD Moore’s Critical Research Corporation is growing thanks to growing interest in device discovery in networking. His product, Rumble, is fast and complete. Here I interviewed HD about it.
Ontario-based Cavelo grew to 10 people in the first quarter. They make the discovery and fulfillment of data.
When companies are classified by number of employees, the law of large numbers applies. For a company with more than 30 employees to grow 100%, like the big-flying unicorn Wiz did, something is happening. Wiz invested $ 100 million in 2020 for its cloud configuration management offering.
As you can see in these examples, staff tracking is a great way to identify interesting companies to follow. Next, I will look at the suppliers that declined the most in the first quarter of 2021.