Last year set all sorts of cybersecurity records — and not all of them were good. In addition to SentinelOne’s highest-valued cybersecurity initial public offering (IPO), 2021 also saw some of the biggest cyberattacks on record. And that, no doubt, helped fuel a cybersecurity venture funding frenzy, which also posted a record-setting year.

We expect to see more of the same in 2022. As we kick off the new year, here are five cybersecurity IPOs we expect to see in the next 12 months.

Valuation: $8.5 billion

Snyk, a developer-focused cybersecurity vendor, scored about $600 million in late-stage funding during the fall. This brought its total raised to $850 million, and more than tripled its valuation compared to $4.7 billion at the beginning of 2021.

“This new investment, together with the rapid adoption of our platform and growing customer base, validates our developer security vision,” Snyk CEO Peter McKay said in a statement.

In December, Bloomberg, citing “people familiar with the matter,” reported that the company is eyeing an initial public offering as soon as mid-year. While Snyk is keeping mum on its plans, we expect to see the cybersecurity unicorn IPO in 2022.

Valuation: $3 billion

Endpoint security turned extended detection and response (XDR) vendor Cybereason landed $50 million from Google Cloud in October, which bumped its total raised to $713.6 million. This followed a $275 million Series F round three months earlier. At the time, the security vendor noted that investment exceeded the newly public SentinelOne’s November 2020 Series F.

In a November interview with Verdict, Cybereason CEO and co-founder Lior Div said an IPO is his company’s “next step.”

“We’re not talking about six months, we’re talking about a little bit more,” he said. “But this is the sort of timeline that we’re talking about.”

That still gives the cybersecurity unicorn time to IPO before the end of the year.

Valuation: $7.5 billion

Netskope in July closed a $300 million funding round that pushed its total raised to $1 billion. The investment more than doubled Netskope’s $3 billion valuation from 18 months prior, and made Netskope one of the world’s most valuable private tech companies.

Like Cybereason, Netskope used SentinelOne’s as a marker. Netskope noted that it’s about two and a half times larger than the valuation of SentinelOne’s last private funding round before that company’s record-setting IPO last month.

Netskope CEO Sanjay Beri, however, didn’t put a time frame on an IPO. “Our goal is to dominate the biggest market in security,” Beri said. “And if it’s easier for me to do that privately, if I can grow faster and I can put the investment in R&D that I believe needs to be put in R&D, then I will do that privately.”

Valuation: $8.3 billion

Cloud security vendor Lacework in November closed a record-breaking $1.3 billion funding round — the cybersecurity unicorn’s second record-setting investment in less than a year. In January 2021, Lacework announced a $525 million Series C funding round, which, at the time, was the largest-ever in security industry history.

“And not too long after that, we started hearing expressions of interest from current and potential new investors to invest even more in the company because they see the promise of the market, and they see the progress that we’ve been making,” Lacework CFO Mike Staiger said.

So the company and its investors blew the earlier round out of the water with another round of financing. We would not be surprised to see a Lacework IPO by mid-year.

Valuation: $2.75 billion

While Illumio’s more of a niche player than the others on this list, it’s really good at what it does — segmentation — and this technology has become a must-have as companies adopt zero-trust security frameworks.

Over the summer, the cybersecurity unicorn closed a $225 million Series F funding round. And in a subsequent interview with SDxCentral, Illumio CEO Andrew Rubin discussed why a zero-trust framework is critical to helping organizations protect themselves from increasingly destructive and expensive cyberattacks.

“In the last 180 days, we’ve watched SolarWinds, we’ve watched Microsoft Exchange, we’ve seen JBS and Colonial,” he said. “We’ve watched breaches for the first time go beyond data or a cyber incident and have a physical-world impact. Something’s got to change. We can’t just spend all that money on detection and assume we’re gonna catch everything, because the math no longer works.”

He has also said an IPO is the logical next step for Illumio. “If we keep our heads down, and we’re successful in our mission of protecting our customers, we will become sustainable, durable, valuable, bigger, and better, and we may become a public company as part of that journey,” he said at the time.