Google bets big on cybersecurity firm

Google Capital, the Internet search giant’s investment arm, is backing a huge cash infusion into cybersecurity firm Crowdstrike.

The investment is just the latest example of the big bets major tech firms are making on the cybersecurity industry, which is booming amid a deluge of hacks in both the private and public sector.

{mosads}Google led the $100 million investment in Crowdstrike, perhaps best known for its reports identifying hacking groups in China, Russia and Iran.

The company has also made waves for its network monitoring services, which seek out nefarious activity. Several companies have hired Crowdstrike to investigate and clean up following particularly destructive hacks.

With the Series C financing round from Google Capital, which focuses on later-stage investments, Crowdstrike has now raked in $156 million in total funding.

Crowdstrike’s rapid growth is not unusual in the security industry.

According to technology-research firm Gartner, information-security spending is expected to hit $77.2 billion this year and $106.1 billion by 2019.

Other tech companies like eBay have made big bets on the cybersecurity industry. The online bidding site opened up an Israeli-based research and development center after acquiring two cyber firms in the region.

Major defense contractors, such as Lockheed Martin and Raytheon, have also made big splashes with their own investments and acquisitions. Raytheon — consistently a top-five government contractor — dropped $1.9 billion in April to purchase security firm Websense.