The Cybersecurity 500 / Q2 2017 list of the world’s hottest security companies was officially released June 21, 2017.
In their press release they said: “Worldwide spending on cybersecurity products and services is predicted to eclipse $1 trillion for the five-year period from 2017 to 2021. There are many new entrants as well as M&A, investment and IPO activity, that is constantly changing the vendor and service provider landscape.
“The Cybersecurity 500 creates awareness and recognition for the most innovative cybersecurity companies – ranging from the largest and most recognizable brands, to VC backed startups and emerging players, to small firms with potentially game-changing technologies, to solution providers poised for growth around productized or vertically focused services.” Their press release continued with:
Security Awareness Training Market
“Since IT security is such a key, expanding market, it’s important to know who the top players are that are effectively tackling customer needs” says Stu Sjouwerman, founder and CEO at KnowBe4, a security awareness training company now ranked No. 6 on the Cybersecurity 500, up from No. 38 in the Q1 2017 edition.
“Organizations need to know who to put on their shortlist when assessing weak links and manage the problem of social engineering” adds Sjouwerman. “The Cybersecurity 500 helps enterprises focus on innovative companies that are head and shoulders above the rest.”
KnowBe4 is ranked at No. 139 on the Inc. 500 list of America’s fastest growing private companies. Kevin Mitnick, the world’s most famous hacker, is Chief Hacking Officer at the fast growing provider of new school employee training aimed at thwarting spear-phishing and other cyber attacks.
Cybercrime continues to fuel an expanding cyber market. Cybersecurity Ventures recently predicted that cybercrime damages will cost the world $6 trillion annually by 2021, up from $3 trillion last year.
Global spending on security awareness training for employees is predicted to reach $10 billion by 2027. Training employees how to recognize and defend against cyber attacks is the most under spent sector of the cybersecurity industry. “KnowBe4’s ascension to a top spot on the Cybersecurity 500 reflects the importance of this market” says Steve Morgan, founder and Editor-In-Chief at the Cybersecurity 500.
“Security awareness has evolved from training employees to a discipline that is just as complicated and important as any other in our field” adds Morgan. “KnowBe4 has done an incredible job of educating the market, providing free tools including their widely popular Phishing Security Test, and growing their customer base and revenues explosively year-over-year for the past 4 years.”