The estimated annual cost of cybercrime could be $10.5 trillion in 2025, and numbers like that are driving a booming market for cybersecurity professionals. Cybersecurity spending is projected to reach $200 billion by 2028, growing at a double-digit annual pace. 

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As online hackers harness AI to multiply their efforts, innovative cybersecurity companies provide comprehensive protection against the growing threat, safeguarding sensitive data from malicious actors and potential breaches.

The leading U.S. cybersecurity companies—Palo Alto Networks, CrowdStrike, and Zscaler—have achieved unprecedented market capitalizations, with Palo Alto Networks exceeding $100 billion alone. They are at the forefront of developing innovative solutions to combat evolving threats, including AI-powered attacks and advanced persistent threats.

The top 10 cybersecurity companies in the U.S.

We have ranked the top U.S. cybersecurity companies by market capitalization (highest to lowest). Note: Market capitalization for each company was last checked January 31, 2025 and is updated quarterly.

10. Okta Inc. (OKTA)

• Market capitalization: $16.1 billion
• Headquarters: San Francisco, CA

Origins: In 2009, Okta Inc. was founded by Todd McKinnon and Frederic Kerrest in San Francisco, California as they had recognized the growing need for cloud-based identity management solutions in an increasingly mobile and cloud-centric world. Despite facing initial skepticism from investors and the market, Okta persevered, securing its first customer, Xactly, and eventually gaining traction as cloud adoption accelerated. The company went public in 2017, marking a significant milestone in its journey to become a leader in identity and access management.

Offerings: Okta Inc.’s cybersecurity services are centered around identity and access management (IAM). Its core offering, Okta Identity Cloud, delivers secure authentication and access control for both employees and customers. Features include Multi-Factor Authentication (MFA), Lifecycle Management for user provisioning, and Adaptive MFA that adjusts security based on contextual risk factors. 

9. Zscaler (ZS)

• Market capitalization: $31.0 billion
• Headquarters: San Jose, CA

Origins: Zscaler was founded in 2007 by Jay Chaudhry and K. Kailash, driven by Chaudhry’s extensive cybersecurity experience and insight into the limitations of traditional security solutions. Zscaler’s focus was on developing a cloud-native security platform, moving away from conventional on-premises security appliances. The company’s growth was bolstered by significant investments, including $38 million in 2012 and $100 million in 2015. Zscaler went public in March 2018, raising $192 million in its IPO. Today, Zscaler is a leader in cloud security, serving thousands of customers across various industries and government agencies in 185 countries.

Offerings: Zscaler delivers cloud-based cybersecurity solutions through its Zero Trust Exchange platform. Key offerings include Zscaler Internet Access (ZIA), providing secure web gateway services and advanced threat protection; and Zscaler Private Access (ZPA), enabling zero trust network access to internal applications. The company’s portfolio extends to cloud workload protection, security posture management, and digital experience monitoring. Leveraging AI and machine learning, Zscaler’s services combat sophisticated threats like ransomware and zero-day attacks. 

8. Cloudflare, Inc. (NET)

• Market capitalization: $43.4 billion
• Headquarters: San Francisco, CA

Origins: Cloudflare, Inc. was founded in July 2009 by Matthew Prince, Lee Holloway, and Michelle Zatlyn. The idea for the company originated from Project Honey Pot, a collaboration between Prince and Holloway to track email spammers. Zatlyn joined the team after recognizing the business potential of transforming Project Honey Pot into a comprehensive security solution. 

The trio developed a business plan to create a service that would protect websites from attacks while also enhancing load times. After refining the beta version over the summer, Cloudflare made its official debut at TechCrunch Disrupt in San Francisco in September 2010, quickly gaining traction for its innovative approach to internet security and performance.

Offerings: Cloudflare, Inc. delivers a wide array of cybersecurity solutions to safeguard organizations’ online presence. Their services include a global CDN for faster content delivery, robust DDoS protection, and a WAF to thwart malicious traffic. The company offers secure DNS services, advanced bot management, and zero trust security through Cloudflare One. 

The company also provides edge-computing capabilities via email security, data loss prevention, and cloud access security broker (CASB) functionalities. These services are delivered through a vast network spanning more than 300 cities globally, ensuring rapid response and enhanced security for clients worldwide.

7. Fortinet (FTNT)

• Market capitalization: $75.3 billion
• Headquarters: Sunnyvale, CA

Origins: Fortinet was founded in October 2000 by brothers Ken and Michael Xie in Sunnyvale, California. The Xie brothers started Fortinet to develop integrated security solutions that could expand protection while simplifying management and enhancing performance. In 2002, Fortinet launched its first product, the FortiGate multi-threat security appliance, which combined firewall, VPN, antivirus, intrusion prevention, and web filtering into a single device. This innovative approach laid the foundation for Fortinet’s rapid growth and eventual leadership in the cybersecurity industry.

Offerings: Fortinet delivers cybersecurity solutions such as next-generation firewalls (NGFWs) for robust network security and FortiGate for unified threat management. Fortinet’s Security Fabric provides comprehensive protection across endpoints, networks, and clouds, while FortiCloud offers cloud-native security solutions. The company’s Secure SD-WAN and Zero Trust Network Access (ZTNA) technologies enable secure remote access and network segmentation. 

Additionally, Fortinet offers solutions for IoT security, data protection, and operational technology (OT) environments. These integrated services leverage cutting-edge technologies to provide a holistic cybersecurity approach, enabling organizations to effectively combat sophisticated threats across their digital infrastructure.

6. CrowdStrike Holdings (CRWD)

• Market capitalization: $98.0 billion
• Headquarters: Austin, TX

Origins: CrowdStrike Holdings was founded in 2011 by George Kurtz, Dmitri Alperovitch, and Gregg Marston in Sunnyvale, California. The founders set out to create a different kind of cybersecurity company, one that was cloud-native and focused on tracking the hackers behind intrusions rather than just detecting viruses and malware. Their innovative approach leveraged machine learning and artificial intelligence to identify behavioral attack patterns and indicators of attack. 

In 2012, CrowdStrike launched its threat intelligence module, and by 2013, it had introduced its flagship product, the Falcon platform, which revolutionized enterprise security for the cloud era. The company later went public on NASDAQ in June 2019, raising $6.6 billion in one of the most successful cybersecurity IPOs at the time.

Offerings: CrowdStrike Holdings delivers cybersecurity solutions through its cloud-native Falcon platform. The platform integrates endpoint detection and response (EDR), advanced antivirus, threat intelligence, and managed detection and response (MDR) capabilities. Through AI and machine learning, Falcon provides real-time defense against sophisticated threats, malware, and ransomware across various digital assets. Furthermore, CrowdStrike tailors solutions for specific sectors, such as healthcare and small businesses, addressing unique industry cybersecurity needs.

5. Palo Alto Networks (PANW)

• Market capitalization: $121.0 billion
• Headquarters: Santa Clara, CA

Origins: Palo Alto Networks was founded in 2005 by Nir Zuk, a former engineer from Check Point Software Technologies and NetScreen Technologies. Recognizing the need for innovation in network security, Zuk started Palo Alto Networks with the goal of reinventing security for the evolving digital landscape. Palo Alto Networks shipped its first firewall in 2007, quickly gaining traction in the market with its next-generation approach to network security. The company went public on the NYSE in July 2012, raising $260 million in its initial public offering.

Offerings: Palo Alto Networks core offerings encompass next-generation firewalls for network protection, Prisma Cloud for cloud-native security, and Cortex XDR for comprehensive threat detection and response. The company’s Secure Access Service Edge (SASE) framework, implemented through Prisma Access and SD-WAN, ensures secure access to digital assets. Advanced threat intelligence and automated response are provided by WildFire and Cortex XSOAR. 

Palo Alto Networks also addresses enterprise IoT security, data protection with Enterprise DLP, and leverages AI for securing generative AI applications and managing AI security posture. By utilizing cutting-edge technologies like machine learning and AI, these services offer a unified approach to cybersecurity, enabling organizations to effectively combat sophisticated threats across their digital infrastructure.

4. IBM (IBM)

• Market capitalization: $236.4 billion
• Headquarters: Armonk, NY

Origins: IBM’s origins can be traced back to June 16, 1911, when Charles Ranlett Flint merged three companies to form the Computing-Tabulating-Recording Company (CTR) in Endicott, New York. These companies specialized in various data-processing technologies, including time recording devices, computing scales, and tabulating machines. In 1914, Thomas J. Watson Sr. joined as general manager and became president in 1915. 

Under Watson’s leadership, the company was renamed International Business Machines Corporation (IBM) in 1924. He focused on developing business machines and cultivating a strong sales force, laying the foundation for IBM’s future growth and innovation in the technology industry. The company quickly expanded its product line to include electric typewriters and other office equipment, setting the stage for its eventual dominance in the computer industry.

Offerings: IBM provides a wide range of cybersecurity solutions to safeguard organizations in diverse digital landscapes. Their offerings include IBM X-Force for threat management, delivering proactive defense and incident response. The company’s Managed Security Services ensure round-the-clock monitoring and analysis of security alerts in hybrid cloud settings. IBM also offers cloud and platform security, data protection and encryption, and identity management tools. 

3. Cisco Systems (CSCO)

• Market capitalization: $241.3 billion
• Headquarters: San Jose, CA

Origins: Cisco Systems was founded in December 1984 by Stanford computer scientists Leonard Bosack and Sandy Lerner. The company’s inception stemmed from their work on connecting Stanford’s campus computer networks using router technology developed by other Stanford employees in the 1970s. Recognizing the commercial potential of this networking solution, Bosack and Lerner adapted the technology for wider use. 

Initially operating from their living room, Cisco sold its first product, a network interface card, in 1985. Despite early legal challenges from Stanford over intellectual property rights, Cisco quickly grew, going public in 1990 with a market capitalization of $224 million. The company’s innovative approach to networking technology laid the foundation for its future dominance in the industry.

Offerings: Cisco offers a suite of cybersecurity services designed to protect organizations across various digital domains. This includes network security solutions such as next-generation firewalls and advanced malware protection, endpoint security for device protection, and cloud security for safeguarding cloud assets and workloads. Cisco’s security portfolio also encompasses identity and access management solutions, threat intelligence and detection services, and security management and analytics tools. The company provides integrated protection across networks, clouds, endpoints, and email, using AI and machine learning capabilities to defend against evolving cyber threats. 

2. Broadcom Inc. (AVGO)

• Market capitalization: $1.0 trillion
• Headquarters: Palo Alto, CA

Origins: Broadcom’s history is a tale of mergers, acquisitions, and technological innovation in the semiconductor industry. Broadcom Inc. was founded in 1991 by Henry Samueli and Henry Nicholas, a professor-student pair from the University of California, Los Angeles. The company initially focused on developing semiconductor solutions for networking and communications, aiming to meet the growing demand for high-speed data transfer as the internet began to take off. Starting in a Westwood, Los Angeles office, Broadcom moved to Irvine, California in 1995, later going public in 1998. 

In 2016, Avago Technologies, under the leadership of CEO Hock Tan, acquired Broadcom Corporation for $37 billion, forming Broadcom Inc. This merger created a powerhouse in the semiconductor industry, with a diverse portfolio spanning wireless, broadband, networking, and industrial markets.

Offerings: Broadcom offers a suite of cybersecurity solutions through its Symantec Enterprise Cloud platform that’s designed to protect organizations across various digital environments. These solutions include endpoint security, network security, and information protection.  

The company also offers Secure Web Gateway (SWG) for web and application access protection, as well as cloud security, data loss prevention (DLP), and zero trust solutions. Leveraging the world’s largest civilian threat intelligence network, the Symantec Global Intelligence Network, Broadcom’s cybersecurity offerings aim to safeguard mission-critical data, prevent unauthorized access, and protect users, sensitive systems, and assets for organizations of all sizes.

1. Microsoft (MSFT)

• Market capitalization: $3.0 trillion
• Headquarters: Redmond, WA

Origins: Microsoft was founded on April 4, 1975, by childhood friends Bill Gates and Paul Allen in Albuquerque, New Mexico. Inspired by the Altair 8800 microcomputer featured in Popular Electronics magazine, they developed a BASIC interpreter for the device. This led to a partnership with MITS, the Altair’s manufacturer, to distribute their software. Microsoft’s big break came in 1980 when it secured a deal with IBM to provide the operating system for their personal computers, setting the stage for its future dominance in the software industry.

Offerings: Microsoft offers numerous cybersecurity services that aim to protect organizations across various digital environments. These include cloud workload protection (Microsoft Defender for Cloud), threat intelligence and analytics (Microsoft Sentinel), identity and access management (Microsoft Entra ID), endpoint protection (Microsoft Defender for Endpoint), and email and collaboration security (Microsoft Defender for Office 365). Microsoft’s cybersecurity solutions leverage advanced AI and machine learning to detect, prevent, and respond to sophisticated cyber threats, covering endpoints, identities, applications, and cloud environments.