Capstone Headwaters Reports: Cybersecurity Industry Displays Resilience Amid COVID-19

October 9, 2020

Boston, MA – Capstone Headwaters released its Cybersecurity update today, reporting that the substantial shift to remote working and heightened migration to cloud-based applications has underscored the need for robust and effective cybersecurity solutions.  As the attack surface expands, organizations have faced the task of securing sensitive data and communication outside of their on-premise enterprises due to COVID-19. 

M&A activity has remained robust year-to-date (YTD) with 159 transactions announced or completed, outpacing YTD 2019 levels.  Venture capital appetite has also remained strong as Q2 saw $2.4 billion in funding towards cybersecurity companies.  In addition, the number of venture capital transactions has increased to elevated levels, recording 136 deals in Q2, an increase of 25.9% from Q2 2019. 

Report content includes an analysis on industry and transaction activity, followed by interviews from Accenture and Revolutionary Security discussing post-deal insights from Revolutionary Security’s Capstone Headwaters-advised sale to Accenture. 

Capstone Headwaters is one of the largest and most active independent investment banking firms in the United States.  The firm has a rich 15+ year history of achieving extraordinary results for middle market entrepreneurs, business owners, investors, and creditors.  Capstone offers a fully integrated suite of corporate finance services, including merger & acquisition, debt & equity placement, corporate restructuring, valuation & fairness opinion, financial advisory, and ESOP advisory services.  Headquartered in Boston, the firm has 150+ professionals across 16 offices in the U.S., with and an international presence including over 450 professionals in 40 countries. With 16 dedicated industry groups, the firm delivers sector-specific expertise through large, cross-functional teams on a global basis.  Capstone has been named “U.S. Middle Market Investment Bank of the Year” for the past 9 consecutive years and is consistently recognized as one of the top investment banking firms to work for. For more information, visit

For More Information Contact the Key Report Contributors: 

Tom McConnell 
Managing Director & Co-Head of Cybersecurity Practice 

David Brinkley 
Managing Director & Co-Head of Cybersecurity Practice