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Newly formed cybersecurity companies are having a harder time raising funds and selling to clients under the economic cloud from coronavirus, according to investors. So reports The Wall Street Journal.

road 90390 640Rick Grinnell, founder and managing partner of Boston-based Glasswing Ventures, is quoted as saying that venture capital investing in cybersecurity startups has seen a “definite slowdown and more deliberate pace.”

Daniel Ingevaldson, a vice president at Atlanta-based venture capital firm TechOperator, added that “hundreds, if not a couple thousand” startups are all competing for Fortune 500 clients.

Read the full article from The Wall Street Journal.

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