The analyst firm PitchBook predicts in a new report that the $134.6 billion cybersecurity market will hit double-digit growth in 2021.The analyst's just-released Q3 report on cybersecurity foresees the booming industry reaching a market size of $179.3 billion by 2023.Big cybersecurity startups have exploded in 2020, as revenue remained strong but IPOs were delayed by… What PitchBook says: Analyst Brendan Burke believes Exabeam was planning an IPO before COVID-19, but says in a recent report that the firm could be a candidate for acquisition as incumbent companies make M&A moves in this automated cybersecurity sector. Emerging Technology Analyst, PitchBook: “In 2020, forward revenue multiples for high-growth public cybersecurity companies more than doubled to around 40x, effectively halving the revenue target that startups must reach to achieve unicorn status. Email. Brendan, thank you so much for being here today. Brendan Burke is a Senior Emerging Technology Analyst at PitchBook, where he contributes to the firm’s emerging technology research covering the AI, information security and IoT verticals. HQ Phone (206) 623-1986. Prior to joining PitchBook, Burke was the head of research at Astrion Capital, a boutique investment bank. "What's going to change in 2021 is that security departments will be able to get out of a short-term and reactionary mindset towards remote work and deploy some of the long-term projects" they put off this year, he says. Developer security-related companies Splunk, New Relic, PagerDuty, and JFrog have all gone public in recent years, and the startup-analyst firm PitchBook says more are on the way. Developer security is one of the fastest-growing segments of the booming cybersecurity industry, according to the analysis firm PitchBook. Emerging Tech @ PitchBook. While companies are growing because of the pandemic, they may still be hesitant to hit the public markets at a time of uncertainty and will wait until next year. Brendan Burke, senior emerging tech analyst at PitchBook, said in an email that Palantir's "low customer logo count" suggests that "Foundry is not scaling across large enterprises." Morningstar PitchBook senior analyst Brendan Burke covers the company and is here today to tell us what he thinks. Brendan Burke is a Senior Emerging Technology Analyst at PitchBook, where he contributes to the firm’s emerging technology research covering the AI, information security and IoT verticals. Morningstar PitchBook analyst Brendan Burke said that on top of human rights concerns associated with Palantir, investors with an ESG lens may take issue with the firm’s governance structure, which gives its founders outsized voting powers per share. “Leading cybersecurity VC investors have achieved a first wave of exits benefiting from this cultural shift and are doubling down on the niche,” says Brendan Burke, an emerging technology analyst at PitchBook. Because many of Palantir's largest and legacy customers are governments, Brendan Burke, a senior emerging tech analyst with PitchBook, said the overall low customer count "suggests that the platform has not scaled rapidly across new customers" and that Palantir "earns a relatively small percentage of its revenue from (those) recently won customers." https://techxplore.com/news/2020-09-secretive-profitable-palantir-debut.html Morningstar PitchBook senior analyst Brendan Burke covers the company and is here today to tell us what he thinks. Brendan, thank you so much for being here today. Visit Business Insider's homepage for more stories. Last Update. r***@pitchbook.com. Saldanha: To start with, what does the company do? Prior to joining PitchBook, Burke was the head of research at Astrion Capital, a boutique investment bank. Get Full Access To Robert's Info. 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