Boston Cybersecurity Map Shows Deep, Diverse Local Sector

Xconomy Boston — 

It’s no secret that the Boston area is home to a formidable group of companies related to cybersecurity.

Just how big is the local cluster? Xconomy surveyed the landscape and found more than 60 firms within an hour’s drive of downtown Boston, including locally based companies and outposts of firms based elsewhere. We mapped them out below and listed them in a table with key facts and figures about each company.

The map and accompanying data illustrate the local sector’s diverse and dynamic nature. There are security arms of big companies, like EMC-owned RSA Security, IBM Security, and Lockheed Martin Industrial Defender. Longstanding companies like Rapid7, Carbon Black (formerly Bit9), Digital Guardian, Veracode, and CyberArk have raised vast sums from venture capitalists and the public markets in a quest for industry domination. Well-funded startups like Cybereason, Recorded Future, and Threat Stack are advancing new techniques for combating threats. And a bevy of small startups like Cybric, Lexumo, and Seceon are just getting started.

The companies are tackling a wide range of problems that threaten businesses, governments, and organizations today, from sniffing out and responding to cyber attacks to safeguarding data across servers, the cloud, and personal devices. Some of the companies focus on solving one or two specific issues, but security firms are increasingly taking a more holistic approach. We also included companies that offer related products and services, such as vulnerability assessments, remote access and password management software, online backup and disaster recovery, and other infrastructure tools.

Investors have pumped about $1.7 billion into local cybersecurity companies on our list, and that amount counts only the firms that haven’t been acquired or gone public. Meanwhile, local cyber exits (both IPOs and acquisitions) have generated a total of around $3.6 billion—again, a conservative number since many of the purchase prices for the deals on this list weren’t disclosed publicly.

If a company was acquired but still operates under its own name, we included it. If it got absorbed into the new parent company, we listed the parent company. Thus, RSA Security made the cut even though it’s owned by EMC, but Trusteer (acquired by IBM in 2013) wasn’t included, as it falls under the umbrella of IBM Security.

In addition to our own reporting, the information primarily came from company websites, SEC documents, CrunchBase, LinkedIn, the state of Massachusetts website, news articles, and press releases.

Without further ado, here are the map and list. If we missed any companies or should update any of the data, please drop me a line at jengel@xconomy.com. (Click the button in the map’s upper left to view a drop-down list of the companies. To explore a bigger version of the map, click the button in the upper right.)

CompanyFoundedVenture capital raised (or exit)Product focus
Akamai Technologies1998$234M IPO in 1999Cloud and mobile performance and security
AlgoSec2003None reported publiclySecurity policy management
Allegro Software Development1996None reported publiclyData security for the Internet of Things
Apperian2009At least $40MMobile app and data security
AppInsight2015$2.3MMobile app security
Arbor Networks2000Acquired by Danaher in 2010, then sold to NetScout Systems as part of larger $2.6B deal in 2014DDoS and threat protection
Barkly2013$16.8MEndpoint security
BitSight Technologies2011$49MSecurity ratings
Black Duck Software2002At least $74MOpen source software and app security
Carbon Black2002 (as Bit9)Over $191MEndpoint security, threat detection, and incident response
Carbonite2005$62.5M IPO in 2011Data backup and recovery
Cigital1992$55MApplication security testing
ClickSoftware1979Acquired by Francisco Partners for $438M in 2015Mobile workforce management software
CloudLock2007$35.4MCloud app security
Confer Technologies2011 (as Scargo)$25MEndpoint threat prevention, detection, and response
Core Security1996Acquired by Courion in 2015Vulnerability assessment and management products
Corero Network Security1997Formerly Top Layer Security, acquired by Corero in 2011Automatic DDoS protection
CounterTack2004$67.4MBig data endpoint threat detection and response
CryptzoneEarly 2000sAcquired in 2014 by Medina CapitalSecurity for networks, data, and apps
CyberArk Software (includes Viewfinity)1999$85.8M IPO in 2014Privileged account security
Cybereason2012$88.6MThreat detection and response
Cybric2015$1.3MVulnerability assessment and remediation
DataGravity2012$92MData management, recovery, and security
Datto (includes Backupify)2007$100MData backup and recovery
Digital Guardian2003 (as Verdasys)Over $128MData security (endpoint, network, cloud)
Dyn1998$38MInternet performance and remote access
EiQ Networks2003$22.5MSecurity intelligence and monitoring
Fidelis Cybersecurity2002Acquired in 2012 by General Dynamics, then sold to Marlin Equity Partners in 2015Threat detection and response on networks and endpoints
Forum Systems2001Acquired by Crosscheck Networks in 2009API security management
GlobalSign1996Acquired by GMO Internet in 2006Authentication, encryption, identity and access management
GreatHorn2015Over $2.5MCloud e-mail security, credential monitoring
Hexadite2014$10.5MAutomated incident response
IBM Security2011 (via Q1 Labs acquisition)N/AThreat protection, incident response, and more
Iboss2003$35MCloud security; threat prevention, detection, and response
Imprivata2001$66.3M IPO in 2014Healthcare IT security, remote access, password management, and secure communications
Intronis2003Over $21.3MOnline backup and disaster recovery
Iron Mountain1951$76.8M IPO in 1996Data backup, recovery, and migration services
Kaspersky Lab1997Reportedly $200M in private equity; company bought back those shares a year laterAntivirus software, endpoint security, mobile security, data center security, e-mail security, and encryption
Lexumo2015$4.9MSecurity for open-source software in connected devices
Lockheed Martin Industrial Defender1996Lockheed Martin acquired Industrial Defender in 2014Threat detection and threat intelligence management
LogMeIn2003$106.7M IPO in 2009Remote access and password management
Mimecast2003$77.5M IPO in 2015Cloud e-mail security
Mustbin2012$6MApp that secures photos, videos, passwords, and other documents
NetCenergy2003None reported publiclyCloud computing, disaster recovery, and network security
Ncrypted Cloud2012At least $8MSecure data sharing
ObserveIT2006$25MInsider threat management
Onapsis2009$29.6MBusiness applications security
Prelert2008$11.3MData analytics for IT security; early detection and finding breach causes
Promisec2004At least $14MEndpoint threat detection and response
Pwnie Express2010$20MSpots threats by detecting wireless and wired devices on/around a network
Rapid72000$103.2M IPO in 2015Incident detection and response, and threat exposure management
Raytheon1922IPO in 1981Cloud security, data security, threat detection, threat assessment, incident response, and authentication
Recorded Future2009$32.9MReal-time threat intelligence
Resilient Systems2010 (as Co3 Systems)Acquired by IBM for $100M+ in 2016Incident response
RSA Security1982Acquired by EMC for $2.1B in 2006Endpoint security, cloud security, threat detection, incident response, and identity and access management/authentication
Seceon2015At least $1.8MThreat detection and prediction
Security Innovation2002$13.1MApplication security testing
SimSpace2015NoneCyber assessments, training, and testing through “cyber ranges”
Sophos1985$125M IPO in 2015 (London Stock Exchange)Network protection, endpoint protection, and server security
Sqrrl2012$14.2MThreat detection, response, and analytics
Symantec1982IPO in 1989Threat monitoring, incident response, endpoint protection, e-mail cloud protection, and data center protection
Threat Stack2012Over $26MCloud security, infrastructure monitoring, and compliance
Vasco Data Security International1984IPO in 1998Mobile app security and fraud prevention
Vaultive2009At least $19MCloud data security
Veracode2006Over $100MCloud-based application security
VS2 (Virtual Software Systems)2014$2MData and application security, and threat detection and response
ZertoLate 2000sOver $110MData protection, recovery, and migration services for cloud and virtual data centers

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