Venture capital financing for cybersecurity firms was high throughout 2021, resulting in numerous new unicorns. Last year, and the first quarter of 2022, were also notable for the high number of cybersecurity mergers and acquisitions; and 2022 already looks set to be a new record year for M&A activity.

According to Progress Partners’ Market Report: Cybersecurity Q1 2022 (PDF), M&A activity leapt from $27.5 billion in 2020 to $70.4 billion in 2021. By the end of Q1 2022, it had already reached almost $27 billion.