^[redacted]‌ - Be sure to check out the IBISWorld report on Cyber Security. You can find thousands of IBISWorld reports on Searchfunder under the Industries tab at the top of this screen or by searching "IBISWorld" plus the relevant industry. ^[redacted]‌ or ^[redacted]‌ at IBISWorld might be able to help you find additional titles if you can't find exactly what you need. For deal comps reach out to ^[redacted]‌ at BVR Deal Stats. We have the data in hand, but it will take a few more days to push the code.

^[redacted]‌ and ^[redacted]‌ (not currently active on Searchfunder) bought a cyber security company several years ago and might worth trying to connect with either of them.

Tagging a few Searchfunders that have posted/commented on Cyber Security in the past and might be able to help with this thread: ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌, ^[redacted]‌ (To our commenters, THANK YOU for helping to make Searchfunder a collaborative community. With Best Wishes, ^[redacted]‌).

Hi Bret - I've looked pretty extensively into this space. Happy to connect and discuss what we're seeing!

If you're already highly knowledgeable in this space then I would say there's a lot of opportunity. If not, then there's also a lot of potential pitfalls, (many snake-oil products).

From a lending perspective Live Oak Bank sees this is as a very compelling niche. Happy to talk specific deals. [redacted]

Bret -

My partner and I are API software focused in our search. Cyber Security is in our top 15 categories (this is out of 92 different software categories). There is a ton of upside, and the next decade is going to rain money on this niche (I know, I am a software engineer, security policies [even at major corporations] are abysmal, high profile hacks will be a thing for a decade). Couple things to keep in mind, however:

- It's a small segment, and there may not be enough volume in the space for sourcing.
- The ones that have good tech (product) know it, and they will not sell at a search price (nor should they).
- The best opportunities will be on the "service" side. These are tougher businesses to value, but I would focus on secondary markets where wages are not as competitive. You can't run this kind of business (profitably) in NYC or SF. This is something where you need to have a good, underrated talent pool. I have a lot of thoughts on this, so happy to have a conversation offline.

Ultimately, I think it's an amazing niche, so I would never want to discourage your moves... that said, there is more nuance in this industry than almost any other.

Cybersecurity is a standard cost of doing business, if there is a good product that is affordable it will probably do well. I feel like the market is fairly saturated so you need partnerships or something to spur the growth.

There is a cybersecurity product for everything now. However, to be effective, they have to configured, operated and maintained, which requires increasing scarce talent. The service side of cybersecurity gets far less attention but is projected to grow faster than products. Look there.