Cybersecurity has become the fastest growing start-up sector in the UK since the start of the pandemic, according to a report from recruitment firm Robert Walters.
The report states that funding for startups in the country has spiked 940 percent since lockdown was enforced. In the first half of the year, the industry raised more than $650 million – almost as much as in the whole of last year ($686m).
“For years the UK has been building its reputation as a beacon of innovation and investment in cybersecurity,” said Darius Goodarzi, Principal - Information Security and IT Risk at Robert Walters.
“This year in particular cybersecurity start-ups have risen to become business heroes - from tools that alert users to security vulnerabilities, to those that spot fraudulent activity — these news firms and tools have taken an important role in protecting our ‘new world'.”
With funding pouring in and new startups popping up, it's no wonder recruiting (and retaining) talented cybersecurity experts has become more challenging than ever.
There are currently more than 1,200 cybersecurity startups in the UK – 44 percent more than two years ago - the majority of which are on the lookout for talent.
“Not only will every company see the benefit of having this expertise in-house, but they will be looking externally for tools, services and advisors to help guarantee the future-proofing of their business by way of solid and robust cybersecurity provisions,” added Ajay Hayre, Senior Consultant Technology at Robert Walters.