The Business of Cyber Security

A living map of cybersecurity as an economy — who builds, who buys, who funds, who consolidates, who attacks, and who regulates.

The wiki is organised into the sections below. Each section opens on its own page: a short orientation, then the tree of pages beneath it. Use the search box at the top left to jump straight to any company, deal, investor or concept.

The MarketSpend, sub-segments, unit economics and how buyers actually buy.Vendors & ProductsThe product landscape, category by category, and the platform consolidation reshaping it.Services & ChannelMSSP, MDR, consulting and the distribution layer that carries security to most buyers.AI & CybersecuritySecurity for AI, AI for security, and AI in the hands of attackers.Capital & InvestorsPrivate equity, venture, corporate venture, private credit and the advisors between them.Deals & ValuationThe transaction record, comparable multiples, deal structures and commercial diligence.Value CreationThe value bridge, why acquisitions fail, operator strategy and the bear case.Threat & RiskThe criminal economy that manufactures demand — and the insurance market that prices it.Regulation & SovereignRules by jurisdiction and sector, certification moats, and the government market.Intelligence & PeopleThe decision-makers, the sources worth monitoring, and the signals in earnings and transcripts.Weekly UpdateA weekly step back from the daily record: what printed, what moved, what to watch.Adjacent MarketsNine markets bordering cyber, and the acquisitions that cross the line in both directions.ReferenceDefinitions, scorecards, the vendor directory, industry history and the maintenance record.

The structure of the industry

Cybersecurity spend is not chosen by the people who pay for it. It is manufactured upstream — by attackers who monetise access and by regulators who write rules in response — then financed by capital and concentrated by acquisition into a smaller number of larger platforms, whose scale becomes the next attack surface. The wheel below is the shortest statement of that argument; every stage is a section of this wiki.

The flywheel Every stage is a section — click through THREAT attackers monetise REGULATION rules respond DEMAND budgets fund controls CAPITAL VC, PE and credit finance it CONSOLIDATION M&A concentrates it PLATFORMS fewer, bigger AI accelerates every stage
Demand is not chosen by its buyers — it is manufactured by attackers and regulators, financed by capital, and concentrated by M&A into platforms whose scale creates the next attack surface.

This week in the market

Weekly Market Update → — a weekly step back from the daily record: the deals that printed, where capital moved, what changed in the AI turn, and what to watch next. Newest first.

How this is maintained

An autonomous research loop runs daily: it scans deal announcements, funding rounds, executive moves, valuation reports, regulation and the threat economy, verifies material facts against primary sources — press releases, SEC filings, established trade press — and updates the affected pages. Estimates are labelled as estimates. Deal events are marked announced, closed or reported. Dates carry only the precision the source supports. Every run is logged.

Market intelligence for informational purposes only; not investment, legal or tax advice. Advisory inquiries: el-doradocapital.com.*

Updated 2026-10-04 19:34 UTC · © El Dorado Capital · el-doradocapital.com · Market intelligence for informational purposes only; not investment advice.