The tremendous and rapid growth of big-time Internet based corporations, such as Google, Yahoo, Microsoft, Intel, Apple, Facebook and many others, highlights the immense potential this particular industry is enjoying and will continue to enjoy in the years to come.
However, this tremendous growth is associated with a significant increase in cybercrime and security threats. Companies are spending huge amounts to implement strategies and solutions that would keep cyberspies, hackers and data thieves away from their sensitive and confidential information. In a recent USA Today report, it was noted that global spending on information security is expected to total $64.4 billion this year and will continue to grow at an average annual rate of 8.7 percent throughout the next four years until 2017.
“The cybersecurity market is in a renaissance period that should enable the good guys to leapfrog the bad guys in prevention and detection capabilities,” stated Greg Fitzgerald, chief marketing officer security start-up Cylance, in an interview with the national news outlet.
Although venture capitalists are in the late stages of getting behind these types of firms, a lot of them are hoping to garner massive billion-dollar paydays, at least according to James Foster, CEO of security start-up Riskive. “”The VC’s want to know, ‘Can you get me to an IPO and show me a billion dollar return?’”