Great benchmarks and quite the sweet spot for most M&A in Cybersecurity. The recent Noname and Zerofox deals also reflect this "mean reversion" type of behavior~
13 out of 14 cybersecurity companies acquired in the past year for over $100M were from Israel. Bessemer recently published their 'Cybersecurity Trends in 2024' report. The report states that - "Reflecting on the past year's acquisitions valued over $100 million, we observe two main trends: (1) most acquired companies had between 10 and 50 customers and were primarily targeted for their teams and products, and (2) the acquisition price for “product-only” companies has increased with a median of ~$200 million to $300 million over the past year." One thing the report doesn't mention is that with the exception of Tessian which is based in the UK, all other startups are from Israel. Interestingly, the acquisition price for Tessian wasn't disclosed so even Bessemer ended up just putting '??' in place of one. #cybersecurity
