Report Finds Only 3% of Cybersecurity Startups That Raised VC Funds in 2020 and 2021 Are Led by Female CEOs
In 2020, cybersecurity startups raised $8.9 billion and in 2021 that number has grown to over $21 billion.
A recent report by risk-based vulnerability management firm NopSec investigated how much of that funding went to women-led businesses. They collected and analyzed 654 cybersecurity startups that raised over $1,000,000 in funding in 2020 and 2021.
The finding: of the 654 startups analyzed, only 22 — or 3.3% — were led by female CEOs.
Lisa Xu, CEO of NopSec, commented on the report, “As a female CEO of a cybersecurity company myself, I was curious to know the answer to this question. There are dozens of articles talking about the need to involve more women in cybersecurity and many of these companies celebrated International Women’s Day on social media. But I haven’t seen any hard numbers showing how many startups in the industry raising capital are led by women. With only 3% of companies run by women, do we really wonder why we have a problem of gender diversity in cybersecurity? What are we actually doing to solve this problem? Is there real progress being made to address this? »
Lisa argues that to attract more women into cyber, we not only need to increase recruitment at every stage, but focus on women in leadership roles, especially CEOs.