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UK cybersecurity investment hit £1bn in 2021, revenues soared to £10bn

UK cybersecurity investment 2021

Investment in UK cybersecurity companies surpassed a record £1bn in 2021, a 25% increase on the year prior.

Government figures show that UK cybersecurity investment last year was spread across 84 companies.

Among those were Bristol-based Immersive Labs, which raised £53.5m in a Series C round, and London’s Tessian, which secured more than £52m in an extended Series C.

The UK’s cybersecurity companies generated a combined £10.1bn in revenue – a 14% increase on the 2020 financial year.

That additional capital helped create an additional 6,000 jobs, bringing the total UK cybersecurity workforce to 52,700.

The DCMS Annual Cyber Sector Report, published Wednesday, found that the UK cybersecurity sector contributed around £5.3bn to the UK economy in 2021, up from £4bn in the previous year....