In June, the research/publishing firm Cybersecurity Ventures (Northport, N.Y.) updated the “Cybersecurity 500,” its list of the hottest and most innovative cybersecurity companies in the world. Seven companies in New Jersey made the cut.
Worldwide spending on cybersecurity products and services is predicted to surpass $1 trillion over the five-year period from 2017 to 2021, according to a Cybersecurity Ventures market report. There are many new entrants into the market (as well as mergers and acquisitions, new investment and IPO activity), and this is constantly changing the vendor and service provider landscape, the company said in a release.
The Cybersecurity 500 list creates awareness and recognition of 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, and to solution providers poised for growth around productized or vertically focused services, the company continued.
Here are the seven New Jersey companies on the list:
· AT&T Network Security (Bedminster), which offers managed security and consulting.
· Verizon Enterprise (Basking Ridge), a provider of network and data security.
· Prevalent (Warren), a growth-stage startup that offers a third-party risk management solution.
· Comodo (Clifton), a provider of end-point and internet security.
· Rsam (Secaucus), an IT governance, risk and compliance company.
· BlackStratus (Piscataway), a specialist in security and compliance management.
· BIO-key (Wall), which offers fingerprint and biometric identification systems.
According to founder and Editor-in-Chief Steve Morgan, Cybersecurity Ventures continuously looks at new companies for inclusion in the Cybersecurity 500 list by soliciting feedback from chief information security officers, IT security practitioners and service providers, and by researching hundreds of cybersecurity events and news sources. The selection criteria for the Cybersecurity 500 are subjective, but they include some or all of the following in the evaluation of each company:
- Cybersecurity sector (market category).
- Problem(s) solved.
- Customer base.
- Feedback from chief information security officers and decision makers.
- Feedback from IT security evaluators and recommenders.
- Feedback from value-added resellers, systems integrators and consultants.
- VC funding.
- Company growth.
- Published product reviews.
- Demos and presentations at conferences.
- Corporate marketing and branding.
- Media coverage.
- Notable implementations.
- Founder and management pedigree.
- Interviews with senior management.
The Cybersecurity 500 does not rank companies by revenue, number of employees, or annual growth. “We do not think a list of the largest cybersecurity companies is useful to our target audience of cyber and IT security decision makers, evaluators and recommenders” Morgan said. “They already know who the biggest vendors are. Instead, we give a nod to the hottest and most innovative companies.”