Norwest Venture Partners and Promod Haque

cyber attacks: But many of the new ventures have struggled to gain traction, finding it difficult to stand out from the crowd and provide customers with sophisticated enough security solutions to match the increasingly advanced cyber attacks they face, according to Euro News. Investors are looking at balance sheets and saying, ‘You raised $100 million and you have nothing to show for it ’ said Promod Haque, senior managing partner at Norwest Venture Partners, which manages about $6 billion in capital. Amid widespread concerns about cyber attacks and data breaches, hundreds of security startups have sprung up in recent years, promising next-generation technologies to fight cyber criminals, government spies and hacker activists. Private investors pumped a record $3.3 billion into 229 cyber security deals last year, according to data from CB Insights. Almost every other company I knew who was on the road raising money at the same time had to pull their rounds back and were not able to close, said Michael DeCesare, chief executive of Fore Scout Technologies Inc, a network security firm. Venture capitalists, dealmakers and entrepreneurs said funding is drying up for all but the most mature cyber startups with substantial sales. (news.financializer.com). As reported in the news.