AI security · governance · identity
LowModel security, data protection, identity, runtime defense, posture management, and AI governance tooling.
As AI moves into mission-critical systems, security spend follows. Existing platform vendors with data and identity advantages have a head start over pure-play challengers.
Companies
12
9 pub · 3 priv
Public mcap
$959.78B
Public revenue
$87.69B
Wtd YoY
17%
Wtd GM
70%
Wtd OM
14%
Avg fund
68
Avg tech
52
Market structure
Current TAM
$220.00B
5y TAM
$420.00B
5y CAGR
14.0%
Companies
12
Margin structure
Software-like
Concentration
Concentrated
Capex intensity
Low
Commoditization
Medium
Drivers
What grows the pie
- ↑AI-driven attack surface
- ↑Identity for agents
- ↑Model and data protection
Constraints
What can break the thesis
- ↓Platform consolidation pressure
- ↓Hyperscaler-bundled offers
Upstream dependencies
Downstream consumers
Companies in Security
Ranked by composite score| Company | Mkt Cap | Growth | FCF% | Val | 1Y | Tech | Fund | AI | Score | View |
|---|---|---|---|---|---|---|---|---|---|---|
| CSCOCisco Systems | $450.70B | 12.0% | 15.3% | 24x | 85 | 64 | 50 | 65 | Strategic Compounder | |
| OKTAOkta | $15.61B | 11.6% | 28.6% | 21x | 44 | 65 | 60 | 60 | Turnaround Optionality | |
| PANWPalo Alto Networks | $200.04B | 14.9% | 28.9% | 62x | 62 | 69 | 70 | 60 | Strategic Compounder | |
| PRIV-WIZWizPrivate | $16.00B | 100.0% | 10.0% | — | — | — | 64 | 60 | 60 | Watchlist Only |
| ESTCElastic | $5.72B | 17.7% | 23.1% | 19x | 28 | 64 | 60 | 59 | High-growth Infrastructure Bet | |
| CRWDCrowdStrike | $165.48B | 23.3% | 33.3% | 106x | 66 | 71 | 70 | 59 | Strategic Compounder | |
| NETCloudflare | $74.27B | 33.5% | 32.4% | 138x | 68 | 71 | 65 | 57 | High-growth Infrastructure Bet | |
| ZSZscaler | $28.05B | 25.9% | 34.0% | 38x | 31 | 68 | 60 | 55 | High-growth Infrastructure Bet | |
| RBRKRubrik | $13.77B | 46.3% | 29.8% | 115x | 33 | 70 | 55 | 53 | High-growth Infrastructure Bet | |
| PRIV-VANTVantaPrivate | $2.50B | 80.0% | 5.0% | — | — | — | 59 | 35 | 53 | Watchlist Only |
| SSentinelOne | $6.14B | 20.2% | 28.4% | 38x | 49 | 65 | 55 | 53 | High-growth Infrastructure Bet | |
| PRIV-PROTProtect AIPrivate | $400.00M | 150.0% | -100.0% | — | — | — | 55 | 50 | 49 | Watchlist Only |