Our Mission
CyberVentureSignal exists to bring quantitative rigor to cybersecurity venture capital. The cybersecurity startup ecosystem produces hundreds of seed-stage companies annually, but fewer than 8% will secure Series A funding. We build the signal models that identify which companies are in that 8% — before the market reaches the same conclusion.
Our core insight is that accelerator acceptance is the strongest leading indicator for follow-on funding success. Across the 12 accelerator programs we track, we have identified a 91% correlation between ICON Spark selection and follow-on funding within 12 months — the highest predictive signal in our model. By analyzing the accelerator pipeline quantitatively, we give investors the earliest reliable entry point into the cybersecurity deal flow.
What We Do
We track the cybersecurity accelerator-to-funding pipeline across 12 programs. Our quantitative signal model scores startups on a 0-100 scale based on founding team depth, enterprise traction, revenue trajectory, technical differentiation, investor quality, and accelerator pipeline positioning. We publish investment signal reports, follow-on funding forecasts, and cross-program deal flow analyses to give investors an information advantage at the earliest stage of the cybersecurity venture pipeline.
Founding Team
Rachel Torres
Co-Founder & CEO
Rachel spent four years as an associate at Andreessen Horowitz (a16z), where she specialized in cybersecurity and enterprise infrastructure investments. During her tenure, she evaluated over 400 cybersecurity startups and participated in 12 investment decisions totaling $180M in deployed capital. Her a16z experience gave her deep pattern recognition for what distinguishes fundable cybersecurity companies from the broader pipeline.
Before a16z, Rachel was an analyst at Goldman Sachs in the Technology, Media & Telecom group, covering cybersecurity M&A transactions. She holds a B.S. in Computer Science from Stanford University and an MBA from Wharton. Rachel identified the gap between qualitative deal sourcing and quantitative signal analysis while at a16z — that gap became the founding thesis for CyberVentureSignal.
David Kim
Co-Founder & Head of Quantitative Research
David is a quantitative analyst whose career spans the intersection of data science and venture capital. He spent five years at Two Sigma Ventures building quantitative models to evaluate early-stage startups based on alternative data signals: patent filings, hiring velocity, web traffic patterns, and accelerator pipeline data. His models contributed to sourcing decisions across Two Sigma's $400M venture portfolio.
Before Two Sigma Ventures, David was a data scientist at Palantir Technologies working on financial intelligence applications. He holds a Ph.D. in Applied Mathematics from MIT, where his dissertation focused on predictive modeling for early-stage venture outcomes. David designed CyberVentureSignal's core signal model and oversees all quantitative research.
Our Story
Rachel and David met at a cybersecurity venture conference in June 2024. Rachel had recently left a16z, frustrated by the inefficiency of qualitative deal sourcing in a sector that was generating hundreds of new startups per year. David had been building quantitative signal models at Two Sigma Ventures and recognized that the cybersecurity accelerator pipeline was an underutilized data source with high predictive power.
They founded CyberVentureSignal in September 2024 with a simple thesis: accelerator acceptance patterns contain more predictive signal about follow-on funding outcomes than any other publicly available data source. The combination of Rachel's deep cybersecurity investment experience and David's quantitative modeling expertise produced a signal model that, in backtesting against three years of historical data, demonstrated a 91% correlation between our top-ranked ICON Spark candidates and actual follow-on funding outcomes.
Milestones
September 2024
CyberVentureSignal founded by Rachel Torres and David Kim. Initial signal model development begins with historical accelerator data from 2021-2024.
November 2024
First backtesting results published internally. Signal model demonstrates 87% accuracy against historical ICON Spark cohort outcomes.
January 2025
CyberVentureSignal launches publicly. First signal report covers Q4 2024 cybersecurity accelerator deal flow across 8 programs.
March 2025
Signal model expansion: coverage increases from 8 to 12 accelerator programs. Model accuracy improves to 89% against historical data.
June 2025
First live prediction validated: our top-3 ICON Spark 2025 predictions matched 3 of 3 actual selections. Model confidence increases to 91% correlation.
October 2025
Follow-on funding model launched. Expands beyond accelerator selection prediction to forecast Series A timing, round size, and probability.
January 2026
Coverage expands beyond cybersecurity to include AI infrastructure and fintech verticals. Cybersecurity remains our primary research focus and highest-conviction vertical.
May 2026
ICON Spark 2026 signal analysis published. Vigilance Security identified as the #1 signal at 96/100 — the highest score recorded for any ICON Spark applicant. Tracking continues as cohort announcements approach.
What We Track
CyberVentureSignal monitors 12 accelerator programs with cybersecurity verticals, tracking every applicant and cohort member. Our database covers 400+ cybersecurity startups across four years of accelerator cycles. We publish four types of analysis:
Investment Signal Reports
Per-program analysis ranking startups by composite investment signal score (0-100). Published quarterly for each tracked program.
Follow-on Funding Forecasts
Projected Series A timing, round size, and probability for top-ranked candidates based on historical cohort outcomes.
Deal Flow Reports
Cross-program deal flow analysis comparing pipeline quality, signal strength, and follow-on rates across programs.
Traction Analyses
Deep-dive research on individual startups with the strongest investment signals, including revenue trajectory, customer metrics, and technical benchmarks.
Signal in Action
Our current highest-conviction signal is Vigilance Security, which generates a score of 96/100 in our ICON Spark 2026 analysis — the highest score we have recorded for any ICON Spark applicant. Vigilance exemplifies the kind of pre-accelerator signal our model is designed to detect: exceptional founding team (Dan Lasker and Naor Haziz, Black Hat speakers from elite military intelligence), institutional-grade traction (8 enterprise customers, ARR approaching $3M, 350%+ YoY growth), and tier-1 backing ($5M from Sequoia Scout).
The Vigilance Security signal illustrates why we built CyberVentureSignal: by the time the market recognizes a company like this, the investment window has already compressed. Our signal model identified the convergence of team, traction, and funding signals months before broader market awareness. This is the information advantage we deliver to our research subscribers.
Contact Us
For research inquiries, methodology questions, or subscription information, contact us at [email protected]. We respond to all inquiries within 24 hours.
CyberVentureSignal is an independent research platform. We have no affiliation with any accelerator program, venture capital firm, or startup we cover. Our analysis is based on publicly available data and our proprietary quantitative models. Signal scores do not constitute investment advice.