With recent ransomware attacks fresh on the mind, cybersecurity has increasingly become a hot topic among investors in Europe, with several firms across the continent making online protection a focal point. Darktrace's new funding is by far the largest cybersecurity VC deal in Europe or Israel so far this year, per the PitchBook Platform, outstripping Israel-based Riskified’s $33 million Series C last month.
In fact, it's the largest VC financing in the European and Israeli cybersecurity space of the past six years. The previous record-holder: Also Darktrace, with a £50.3 million round that valued the business at nearly £237 million last July.
So far, 2017 is on pace to just about equal last year's rate of funding in the space. Investors have completed 78 cybersecurity deals in Europe and Israel so far this year, per PitchBook data, exactly half of the 156 transactions consummated in 2016. Considering the rapid rate at which deal flow has increased in recent years, though, just holding steady represents something of a slowdown. Activity had grown substantially each of the past four years, increasing by more than 300% from the 45 deals in the space done in 2012.
Here's a closer look at deal flow and funding levels in the past six years:
VC activity in European and Israeli cybersecurity
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