Cybersecurity startups are beginning to slow hiring and prune operating expenses as macroeconomic storm clouds obscure future funding sources. Emerging vendors have to grapple with an initial public offering market that has essentially dried up and investors unwilling to offer valuations anywhere near 2021 levels. Early-stage vendors want to make their cash on hand last longer as financial backers grow more cautious with their money. IPOs are down 80% as compared with this point a year ago, according to Renaissance Capital. Investors are shifting their money toward early-stage firms.”]
Source: https://www.cuinfosecurity.com/late-stage-startups-feel-squeeze-on-funding-valuations-a-19075