![]() According to Crunchbase, deal count declined just over (-15%) from Q2 to 153. Venture capital funding deals and deal value also reflect this challenging environment persisting through Q3. Microsoft CEO Satya Nadella said in January during its fiscal Q2 earnings call that customers were “ consolidating on our security stack, in order to reduce risk, complexity and cost.”ĬrowdStrike CEO George Kurtz echoed Nadella’s view in the company’s Q1 earnings call in March that customers “ want to reduce cost and headcount, reduce the number of point products and agents, reduce complexity and simplify operations.” ![]() ![]() Headwinds Remain in Play in Q3īudget cuts, consolidation, and optimization are some of the trends at play in the cybersecurity market that are pulling 2023’s growth rates lower. APAC growth saw the largest slowdown, from +10.7% YoY in Q1 to +8.8% YoY in Q2. Latin America and EMEA growth remained in the double digits, though both decreased approximately 180 to 210 bp sequentially. Growth in North America remained resilient at +12.6% YoY in Q2, the bellwether of the market considering it accounts for more than half of total spending. ![]()
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