UK's £10.1 billion cyber security sector has record levels of investment

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The UK’s cyber security sector generated £10.1 billion in revenue in the last financial year, having reached record levels of investment.
New government data has revealed that companies in the cyber security sector made a total of £10.1 billion in revenue over the past financial year, with an increase of 14 per cent from the year before.
The data comes from the DCMS Annual Cyber Sector Report, which monitors the growth and performance of the UK’s cyber security sector.
According to the official statement on the government website:
“Employment across the industry rose by 13 per cent, with more than 6,000 new jobs created, opening up new opportunities for people up and down the UK to join the sector and share its wealth. This brings the total number of people working in cyber in the UK to 52,700.
“There were 1,838 active cyber security firms in the UK in 2021. More than half are based outside of London and the South East, with cyber security showing growth in the North East and East Midlands. The report highlights this move could be a result of remote working increasing regional opportunities.
“UK-registered cyber security firms attracted record levels of external investment, with more than £1 billion secured across 84 deals by companies including Bristol-based Immersive Labs, which raised £53.5 million, and London-headquartered Tessian which secured more than £52 million in funding.”
Digital Secretary Nadine Dorries said:
“Cyber security firms are major contributors to the UK’s incredible tech success story.
“Hundreds of British firms from Edinburgh to Bristol are developing and selling cutting-edge cyber tools around the world that make it safer for people to live and work online.
“We are investing in skills training and business initiatives to help the UK go from strength to strength as a global cyber power and open up the sector to people from all walks of life”.
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Tamsin Brown

Originally from London, Tamsin is based in Malaga and is a local reporter for the Euro Weekly News covering Spanish and international news. Got a news story you want to share? Then get in touch at [email protected]