Co-founder and CEO at Cloudflare Matthew Prince shares the stage with venture capital leaders at TechCrunch Disrupt Berlin 2019. Cloud is among the factors influencing massive investments in the cybersecurity space during 2020. (Photo by Noam Galai/Getty Images for TechCrunch)

Early fears about the coronavirus and the economic impact of business shutdowns appear to have had little impact on the flow of venture capital investment, at least in the cybersecurity industry.

A new report by Crunchbase found that 2020 was a great year for cybersecurity startups, even as it was perhaps less than a banner one for the rest of the world. According to the findings, 2020 brought with it record levels of investment, with a combined $7.8 billion poured into cybersecurity startups compared to $7.6 billion last year. That’s nowhere near the more than $2 billion jump between 2018 and 2019, but it indicates that a post-pandemic business world is still squarely focused on developing new and better solutions for its cybersecurity woes.

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