Cybersecurity challenges have been on the rise for the past few years. With the evolution of technology came the evolution of malware, bringing massive breaches, destroying peace and keeping companies on their toes. This cycle has led to the proliferation of cybersecurity firms as venture capitalists (VCs) and private equity firms continue to pour money into the U.S. cybersecurity market.

In 2018 alone, cybersecurity companies across the globe received a record investment of $5.3 billion, which is 20 percent higher than the $4.4 billion in received in 2017 and 81 percent higher than in 2016.

The year-on-year growth in cybersecurity investment can also be attributed to the increase in compliance requirements that are now standard parts of industry regulations where data protection has become highly crucial.

This year, four cybersecurity companies have joined the Unicorn club, Kaseya being one of them. Kaseya’s flagship product, VSA, monitors and manages the IT infrastructure of a company, while securing its assets with automated patch management and antivirus and antimalware offerings.

Following the recent acquisition ID Agent, a leading threat intelligence and identity monitoring provider, Kaseya now provides a complete security suite designed to protect an organization 24*7.

Kaseya’s other security products include Kaseya Unified Backup, which brings together backup, ransomware protection, cloud-based storage, and business continuity disaster recovery (BCDR) services in a single all-in-one appliance, and Kaseya AuthAnvil – an identity and access management solution that protects company data with secure access to applications.

In addition, ID Agent has two major products Dark Web ID – a Dark Web monitoring platform that identifies, analyzes and proactively monitors for an organization’s compromised or stolen, and Bullphish ID – a campaign-based platform that launches simulated phishing campaigns to test the security risk preparedness of companies.

Cybersecurity has been a tricky domain for many small and midsize businesses (SMBs) in recent years. A common misconception among SMBs was that their operations are too small to be noticed by cyber-criminals; hence, they did not need cyberprotection. Then came the WannaCry ransomware attack, which infected more than 300,000 devices worldwide, resulting in billions of dollars of losses for small and large businesses alike.

Cybersecurity has now become a high priority across all industries, with an increase in awareness among IT leadership. Gartner predicts that global cybersecurity spending will soar to $124 billion in 2019. This means that companies are looking forward to addressing their security and compliance risks.