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Top Cybersecurity Startups to Watch (and Work for) in 2023

August 2, 2023
      |      Kieran Ryan
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My Background

Hi, I'm Kieran! I worked in startups for five years at On Deck and Wefunder. Some of my favorite things that I've worked on during my career include:

  • Wefunder Workaway: 12 founders working on a new idea, 7 days, 1 mansion in Hawaii. One of the teams we picked raised a Series A from Andreessen Horowitz, and two people who met during the trip got married...
  • On Deck: As employee #15, I contributed to the startup's growth from no revenue to a $20 million run rate in less than a year. I led the team that built the admission infrastructure to support and scale ~20 fellowships for founders, capital allocators, operators, and creators.
  • XX: Worked on a pre-YC accelerator program that invested $125K on an MFN SAFE into 8-10 teams per cohort.
  • ODX: Worked on a $100 million accelerator program that invested $125K for 7% into 100s of startups. We partnered with leaders like Flexport to build vertical industry tracks around supply chain & logistics, etc.
  • Ryan Marketing: Created an influencer marketing startup (2 million+ Instagram followers) during college with my twin brother and realized early that monetization for creators was broken. I learned a lot, and it paid enough to cover my schooling, rent, and meals.

The Methodology

I considered several data points to arrive at the startups selected on this list, including company traction, funding raised, valuation, and investors. From my initial list, I then referenced each startup with my personal network to narrow down the list to the one you see below. I take my credibility seriously, so I do not take any money from startups who want to be included on this list to remain impartial. If you want to understand my analysis of startups and prefer long-form content, read my research on the top startups of 2023 afterward.

Wiz Logo

Wiz

Secure everything you build and run in the cloud.

Headquarters

New York, New York

Industry

Cybersecurity

Founded

2020

Funding

$900 million

Valuation

$10 billion

Traction

  • Wiz reached $100 million in annual recurring revenue in 18 months.
  • As of May 2023, Wiz scans 230 billion files daily and protects 5 million cloud Workloads.
  • As of May 2023, Wiz has rated 4.7 stars from 340 reviews on G2.
  • As of February 2023, Wiz counts 35% of the Fortune 100 among its customer base.
  • Wiz customers include Salesforce, Morgan Stanley, Slack, Fox, Snowflake, BMW, Chipotle, Priceline, REI, Takeda, and ASOS.
Snyk Logo

Snyk

A developer security platform.

Headquarters

Boston, Massachusetts

Industry

Cloud, Cybersecurity

Founded

2015

Funding

$1.071 billion

Valuation

$7.4 billion

Traction

  • In 2022, Snyk reported a 100% YoY increase in revenue and 130%+ net revenue retention.
  • As of December 2022, Snyk has 2,300+ customers, accounting for one million+ developers, including ABInBev, CVS Health, Intuit, Pearson, Overstock, Comcast, Afterpay, Shutterstock, Citrix, Atlassian, New Relic, AuthO, Manulife, and Cortex.
  • As of December 2022, Snyk reported 70% of its customers are using multiple products from its Developer Security Platform.
Tines Logo

Tines

No-code automation.

Headquarters

Dublin, Ireland

Industry

Cloud, Cybersecurity

Founded

2018

Funding

$97 million

Valuation

Undisclosed

Traction

  • As of July 2023, Tines customers include Circle, Coinbase, GitLab, Kayak, McKesson, MongoDB, MyFitnessPal, OpenTable, and Informatica.
  • Between April 2021 and October 2022, Tines reported a 4x increase in revenue.
Tailscale Logo

Tailscale

Best VPN service for secure networks.

Headquarters

Toronto, Canada

Industry

Cloud, Cybersecurity

Founded

2019

Funding

$117 million

Valuation

$1 billion+

Traction

  • As of April 2023, Tailscale has 2,000 customers, including Instacart, Bolt, Duolingo, Mercari, and 0xide.
  • As of May 2022, Tailscale has 100,000+ users on its free plan.
runZero Logo

runZero

Cybersecurity asset management solution.

Headquarters

Austin, Texas

Industry

Cloud, Cybersecurity

Founded

2018

Funding

$20 million

Valuation

Undisclosed

Traction

  • As of July 2023, runZero counts Syntric, Inductive Automation, Kivu Consulting, GitHub, Carnegie Mellon University, York University, EY, and Sally Beauty as customers.
  • As of March 2022, runZero has 11,000 users on its Rumble Starter Edition.
  • In 2021, runZero reported a 3x user base, 4x customer base, and 5x ARR growth.
ProjectDiscovery.io Logo

Projectdiscovery.io

An open-source software company that builds tools to detect and remediate vulnerabilities across your modern tech stack.

Headquarters

San Francisco, California

Industry

Cloud, Cybersecurity

Founded

2020

Funding

$30 million

Valuation

Undisclosed

Traction

  • As of July 2023, Projectdiscovery.io’s Nuclei GitHub repository has 13.8K stars, 1.9K forks, and 108 contributors.
Orca Security Logo

Orca Security

Cloud security platform.

Headquarters

Tel Aviv, Israel

Industry

Cloud, Cybersecurity

Founded

2019

Funding

$640 million

Valuation

$1.8 billion

Traction

  • As of July 2023, Orca Security counts Vercel, SAP, Autodesk, Lemonade, Wix, Digital Turbine, FourKites, and Paidy as customers.
  • In October 2021, Orca Security reported 800% YoY growth.
Isovalent Logo

Isovalent

eBPF-powered cloud-native networking & security.

Headquarters

Cupertino, California

Industry

Cloud, Cybersecurity

Founded

2017

Funding

$69 million

Valuation

Undisclosed

Traction

  • As of July 2023, Isovalent customers include Google, Alibaba, Trip.com., AWS, Adobe, Datadog, DigitalOcean, Overstock, Capital One, Bell, and Wild Life.
  • As of July 2023, Isovalent’s Cilium GitHub repository has 16K stars, 2.3K forks, and 611 contributors.
  • As of June 2023, Isovalent reported its second consecutive year of 3x YoY ARR growth.
Cyberhaven Logo

Cyberhaven

Cloud data security.

Headquarters

Palo Alto, California

Industry

Cloud, Cybersecurity

Founded

2016

Funding

$52 million

Valuation

Undisclosed

Traction

  • Cyberhaven customers include Snowflake, VillageMD, Upstart, Motorola, Western Digital, and Kirkland & Ellis.
  • In December 2021, Cyberhaven reported 5x growth in ARR over the previous 12-month period.
ConductorOne Logo

ConductorOne

Identity security and access control.

Headquarters

Portland, Oregon

Industry

Cloud, Cybersecurity

Founded

2020

Funding

$20 million

Valuation

Undisclosed

Traction

  • ConductorOne customers include Ramp, Shippo, DigitalOcean, Panther, Loom, Policygenius, Revizto, and StreamNative.
Axonius Logo

Axonius

Cybersecurity asset management.

Headquarters

New York, New York

Industry

Cloud, Cybersecurity

Founded

2017

Funding

$395 million

Valuation

$2.6 billion

Traction

  • Axonius customers include ABInBev, Landmark, Columbia Bank, The New York Times, Overstock, and SUEZ.
  • In 2021, Axonius reported a 132% YoY increase in annual recurring revenue, its 3rd consecutive year of triple-digit revenue growth.
  • In 2021, Axonius reported a nearly 2x increase in its customer base.
Arctic Wolf Logo

Arctic Wolf

24/7 cybersecurity protection.

Headquarters

Eden Prairie, Minnesota

Industry

Cloud, Cybersecurity

Founded

2012

Funding

$1.057 billion

Valuation

$4.3 billion

Traction

  • As of October 2022, Arctic Wolf has 3,000+ customers.
  • In September 2021, Arctic Wolf reported $200 million in ARR over the preceding 12-month period.
1Password Logo

1Password

Password manager.

Headquarters

Toronto, Canada

Industry

Cloud, Cybersecurity

Founded

2005

Funding

$950 million

Valuation

$6.8 billion

Traction

  • As of July 2023, 1Password has 100,000+ customers, including IBM, Slack, PagerDuty, GitLab, Under Armour, Datadog, Snowflake, and Intercom.
  • In July 2021, 1Password reported they crossed $120 million in ARR and have been profitable since day one.
Abnormal Security Logo

Abnormal Security

Cloud email security.

Headquarters

San Francisco, California

Industry

Cloud, Cybersecurity

Founded

2018

Funding

$284 million

Valuation

$4 billion

Traction

  • As of May 2022, Abnormal Security counts 5% of the Fortune 1000 as customers, including Foot Locker, Xerox, Liberty Mutual, Boston Scientific, Groupon, and Urban Outfitters.
  • As of May 2022, Abnormal Security reported a 99% renewal rate with customers and a 4.8/5 rating from 159 reviews on Gartner Peer Insights.
  • In 2021, Abnormal Security reported 3x growth in ARR over the previous year.
Astrix Security Logo

Astrix Security

Securing app-to-app connections.

Headquarters

Tel Aviv, Israel

Industry

Cybersecurity

Founded

2021

Funding

$40 million

Valuation

Undisclosed

Traction

  • Astrix Security customers include Figma, Priceline, Workato, Rapyd, Netflix, Bloomreach, Guesty, and Hopper.
Savvy Logo

Savvy

Platform to secure SaaS apps.

Headquarters

Tel Aviv, Israel

Industry

Cybersecurity

Founded

2021

Funding

$30 million

Valuation

Undisclosed

Traction

  • As of July 2023, Savvy reported 15 customers and 100,000 users under management.
Coalition Logo

Coalition

Active protection against digital risks.

Headquarters

San Francisco, California

Industry

Cybersecurity, Insurance

Founded

2017

Funding

$770 million

Valuation

$5 billion

Traction

  • As of July 2022, Coalition has 160,000+ customers, exceeded $775 million in run rate gross written premium, and increased revenue by nearly 200% over the prior year.
  • As of May 2023, Coalition claims customers make 50% fewer claims than the overall market, an 80% decrease in ransom demands, and 45% of incidents are resolved at no cost.
Manifest Logo

Manifest

Measure and reduce your software supply chain risk.

Headquarters

Washington, District of Columbia

Industry

Cybersecurity

Founded

2022

Funding

$6 million

Valuation

Undisclosed

Traction

  • As of May 2023, Manifest has assessed 200,000+ vulnerabilities, scanned one million+ dependencies, and achieved a 90% reduction in software supply chain attack response time.
  • In 2023, Manifest secured two new contracts from the US government.
Stairwell Logo

Stairwell

We empower you to outsmart attackers.

Headquarters

Mountain View, California

Industry

Cybersecurity

Founded

2019

Funding

$69.5 million

Valuation

Undisclosed

Traction

  • Stairwell customers include Fox News, Cyderes, Mandiant, and Sanofi.
Cyera Logo

Cyera

Automatically discover and classify your data, protect it from exposure, and maintain a resilient posture.

Headquarters

San Mateo, California

Industry

Cybersecurity, Data

Founded

2021

Funding

$64.5 million

Valuation

Undisclosed

Traction

  • Cyera already has multiple Fortune 500 customers. Cyera customers include LifeLabs, ACV Auctions, Cboe Global Markets, Mercury Financial, and United Talent Agency.
White octopus outline with eyes on purple gradient background

Chainguard

Fortified software delivery.

Headquarters

Remote

Industry

Cybersecurity

Founded

2021

Funding

$55 million

Valuation

Undisclosed

Traction

  • Chainguard customers include Sourcegraph, Block, Snowflake, Gitlab, Elastic, Cloud Native Computing Foundation, Hewlett-Packard, and Precisely.
Akeero Logo

Akeero

Allows teams to visualize cloud-native infrastructures quickly, instantly identify threats, and suggest best practice controls.

Headquarters

Cork, Ireland

Industry

Cybersecurity

Founded

2020

Funding

$1.2 million

Valuation

Undisclosed

Traction

  • As of July 2021, Akeero was in private beta and preparing for a commercial launch. As of May 2023, Akeero’s platform is still in private beta, and you can sign up to join their waitlist.
SecurityScorecard

SecurityScorecard

Security ratings, response, and resilience company.

Headquarters

New York, New York

Industry

Cybersecurity

Founded

2014

Funding

$292.2 million

Valuation

Undisclosed

Traction

  • SecurityScorecard’s monitors and rates 11,000,000 organizations.
  • SecurityScorecard’s net promoter score is 98%.
  • In Q4 2020, SecurityScorecard reported 61% YoY growth in total international annual recurring revenue, 89% YoY growth in international customers, and added 450 customers.
  • SecurityScorecard customers include the United Nations International Computing Centre, Clyde, Access, the University of Gloucestershire, and Lintelio.
9 dots

SafeBreach

Continuous security validation platform.

Headquarters

Sunnyvale, California

Industry

Cybersecurity

Founded

2014

Funding

$106.5 million

Valuation

Undisclosed

Traction

  • SafeBreach’s technology provides 90% protection-coverage improvement, 30% attack-surface reduction, and 90% risk-posture reduction.
  • SafeBreach customers include PayPal, Netflix, and Husch Blackwell Law Firm.
Semgrep Logo

Semgrep

Find bugs and enforce code standards.

Headquarters

San Francisco, California

Industry

Cybersecurity

Founded

2017

Funding

$93 million

Valuation

Undisclosed

Traction

  • Semgrep has thousands of customers, including GitLab, Slack, Dropbox, Shopify, Chegg, Snowflake, Vanta, and Policygenius.
  • Semgrep supports 30+ coding languages.
  • 2000+ Semgrep and community members have created community rules.
  • Semgrep’s platform scans 30 million+ projects every year.
Island Logo

Island

A security-focused browser for enterprises.

Headquarters

Dallas, Texas

Industry

Cybersecurity

Founded

2020

Funding

$385 million

Valuation

$1.5 billion

Traction

  • Island enterprise customers include Mattress Firm, Fiverr, The Bank of Marion, United Airlines, and Bloomreach.
  • SC Magazine recently named the Island as the Best Enterprise Security Product of the Year.

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