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2021 Black Unicorn Report
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"2021 Black Unicorn Report"
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In the venture capital industry, a unicorn refers to any tech startup company that reaches a $1 billion-dollar market value as determined by private or public investment.

The term was originally coined in 2013 by venture capitalist Aileen Lee, choosing the mythical animal to represent the statistical rarity of such successful ventures. Last year, CB Insights reported that the odds of becoming a unicorn — a company valued at $1 billion or more — was less than 1% for companies that had raised venture capital. In 2018, there were 47 tech companies in the US to reach this unicorn status, according to data provided by PitchBook.

In the cybersecurity industry, in 2019, Gary S. Miliefsky coined the term black unicorn as a cybersecurity company that has the potential to reach a $1 billion-dollar market value as determined by private or public investment.

The black unicorn awards are designed to help showcase companies with this kind of potential. Ultimately, the judging in our awards is tough and it’s still up to those notable mentions, finalists and the winners to execute a flawless business model to reach this potential. It takes innovation, dedication, passion – the right team and the right cyber security solution, harmoniously executed to become a unicorn.

Our mission is to uncover future Black Unicorns and based upon the hard work of our judges and the entrants in our awards program, we think we’ve found them.

Let's not forget last year’s winners: Armis, Checkmarx, Code42, Dragos, KnowBe4, ObserveIT, RedSeal, Remediant, ReversingLabs and XM Cyber, of which KnowBe4 has gone public for over $3B in value, exceeding our expectations.

We thank Robert Herjavec for his passionate support in kicking off the Black Unicorn Awards and helping us judge them in our first year. This year, our judges, and some information about them, follow. Our Judges for the Black Unicorn Awards this year are Gary S. Miliefsky, Dr. Peter Stephenson, Dr. David DeWalt and Robert R. Ackerman, Jr


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