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While the first month of 2024 has been dominated by stories of layoffs and "strategic slowness," one sector that hasn't shown any signs of slowing down is cybersecurity. Defending against digital threats is increasingly important for businesses, and investors are eager to capitalize on continued growth.

Cybersecurity firms like UK-based Snyk and Israel-based Cato Networks are putting together plans to go public in the near future, with Snyk drafting up an IPO investor prospectus and Cato planning to hire bankers for an IPO by March, The Information reported. Public cybersecurity firms such as Palo Alto Networks, which debuted on the NYSE at $52.2 per share in 2012 and now is priced at $340.75 per share, have grown significantly over the past year. Austin, Texas-based CrowdStrike, another cybersecurity company focused on enterprise use cases, nearly tripled its share price of $104.4 in just a year, growing to $290.53 per share.

Companies that are focused on providing enterprise and cloud-infrastructure technology to large companies are likely to be popular among investors when the go public, according to analysts interviewed by The Information, because those large customers have shown no slowdown when it comes to buying software, as opposed to small businesses and companies focused on front-end applications.

Outside of cybersecurity, other SaaS-based businesses expected to go public soon include ServiceTitan, a company that provides software to contract workers. ServiceTitan claimed the No. 347 spot on Inc.'s 2018 list of the 5000 fastest-growing companies in America. Reuters recently reported that ServiceTitan is preparing to go public in 2024.

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