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The third quarter appeared to be a mixed bag for companies in the cybersecurity market. Some saw a bit of softness in sales, with large deals being pushed out to Q4. Funding of cybersecurity deals also continued to slide in Q3, but that could be driven by the fact that most companies don’t want to raise in this environment, so the best companies are simply postponing their next investment.

On the other side of the ledger, data breaches have increased 70% since Q2. Given how high the numbers were before, this is a staggering statistic. This underscores the fact that cybersecurity incidents are uncorrelated with the financial markets, and thus spending on solutions should remain robust due to the existential nature of the threat.

For venture capital firms and their investors, it is annual LP meeting season, the time of the year when venture investors present to their limited partners their portfolio and what they expect for the coming year. At Lytical we have our event this coming week, so we will also be gathering our CISO advisors to hear more about the market and where the experts who control most of the buying think it’s headed. We look forward to sharing the insights we will most certainly gleen with you next month.

Below are a few of the articles that caught our attention this month. Moreover, we’ve inserted one or two sentences in italics, summarizing each article’s importance. We hope you enjoy and appreciate the material.


Here's a curated list of things we found interesting.

Israeli cyber intel firm shines a bright light on new, shadowy cybercrime collective

A deep dive into the unusual set-up and modus operandi of a successful group of cyber-mercenaries.

Investing in cybersecurity: a deep look at the challenges, opportunities, and tools for cyber-focused VCs

This article discusses the differences between focused funds, like Lytical, and generalist investors. It also discusses why cybersecurity may be recession-proof. A comprehensive guide for investors specializing in cybersecurity, cybersecurity startup founders, and aspiring entrepreneurs.

Former Uber security chief convicted of covering up 2016 data breach

This verdict has sent shockwaves through the CISO community. Most believe the ransome payoff is not the issue, it was the lying to the SEC that got him in trouble. But it is also telling that even though the CEO knew about the lying, only the CISO was charged with a crime, which feels unfair. Surprise verdict on charges that predated rampant ransomware and extortion payoffs in more recent hacking cases.


Deals that caught our eye.

Vista Equity Partners to acquire cybersecurity company KnowBe4 for $4.6B

Vista Equity Partners has agreed to a $4.6 billion all-cash deal to acquire KnowBe4, a publicly traded cybersecurity company specializing in helping enterprise workers avoid phishing attacks.


We will be bringing back Steve’s podcasts shortly when he starts his new season. Until then, enjoy amazing podcasts we think you'll like.

Joe Rogan Interviews Steve Jobs

Want to hear Joe Rogan interview Steve Jobs over a decade after his death? Now you can.


Lytical Ventures is a New York City-based venture firm investing in Corporate Intelligence, comprising cybersecurity, data analytics, and artificial intelligence. Lytical’s professionals have decades of experience in direct investing generally and in Corporate Intelligence specifically.


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