As the Covid-19 pandemic continues to hobble economies around the world, cybersecurity is one of six sectors currently booming, with first quarter funding topping $1.5 billion.

That figure is close to a record high, according to Crunchbase Data Evangelist Gené Teare, who told SC Media that instead of seeing cybersecurity companies and VCs putting the breaks on after a strong fourth quarter in 2019, “trends in our data do not show a slowdown.” In fact, “a lot of the big firms are active in this space,” she said.

Deal count in the sector ticked up significantly in Q1 2020 from the previous two quarters, the Crunchbase Opportunity Index Report found. Nearly 80 percent of the 2020 deals were in seed- or early-stage, which the report said shows an “opportunity for more later-stage deals in the coming years.”

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