Ireland’s cybersecurity sector records strongest year as European funding declines.
Ireland’s cybersecurity companies closed 40% more venture capital deals in 2024 than the previous year, according to a new report published by Enterprise Ireland using PitchBook data.
The performance came as European cybersecurity funding fell 9.5% over the same period.
“Ireland continues to punch well above its weight in European cybersecurity investment, consistently attracting top-tier global investors”
The results helped Ireland maintain its position as first or second in Europe for cybersecurity VC deal count per capita, a ranking it has held every year since 2017.
Security of tenure
Since 2014, Irish cybersecurity companies have raised over €450 million across more than 100 VC transactions.
The sector’s recent momentum was exemplified by Tines’ €120.7 million Series C funding round in the first quarter of 2025, led by Goldman Sachs Alternatives. The round represents one of the largest venture funding rounds ever secured by an Irish-founded company.
Ireland is now home to over 140 cybersecurity companies specializing in areas including automation workflow, investigative intelligence, AI-driven threat detection, vulnerability prioritization and encrypted data solutions. Companies such as Tines, Siren, UrbanFox, Cytidel and Vaultree have secured global enterprise and government clients.
The sector currently employs more than 8,100 professionals, with projections indicating growth to 17,000 by 2030.
Enterprise Ireland has participated in more than three-quarters of all deals over the past decade, making it Europe’s leading cybersecurity investor by deal count.
“Ireland continues to punch well above its weight in European cybersecurity investment, consistently attracting top-tier global investors,” said Anna-Marie Turley, head of fintech, financial services and cybersecurity at Enterprise Ireland.
“With Irish solutions now trusted by leading enterprises and governments worldwide for AI-driven threat detection, investigative intelligence and regulatory compliance, we are seeing unprecedented international demand.”
Turley added that cybersecurity is positioned to become “an absolute non-negotiable priority for organisations everywhere”, which she believes will support sustained investment growth and global leadership for Ireland’s ecosystem in the coming years.
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