From the ransomware attacks in mid-2017, we have come a long way in cybersecurity. Industry giants such as Google, Microsoft, and IBM are looking at least 50 years ahead and have geared up accordingly. Startups in the realm of cybersecurity are blooming and the industry is said to exceed $114 Billion in 2019 according to Gartner.
In a recent interview, Deepak Jeevankumar, investment manager for Dell Technologies Capital, said: “Cybersecurity is one of the most heavily invested areas every year, and there are about 3,000 security startups across the world today.”
Cyberthreats have evolved quite a lot and the diversity of attacks are clearly paving the way for more and more Security solutions. A 2018 report by Norton estimates that nearly $1 billion was at risk from attacks targeting only banks. Every time a new solution is recommended, it is almost immediately followed by a whole new set of challenges. This is the reality in the market today and even biggies like Facebook do not seem to be safe. At least 50 million users were affected by a large-scale Facebook breach in 2018. From cloud security to comprehensive, innovative, enterprise-class web application firewalls tools, to solutions powered by AI and machine-learning capabilities, the rate of change is overwhelming. It is clear that cybersecurity in a top priority for organizations, startups, and VCs alike. Here are the top cybersecurity startups hoping to doing great things in 2019.
You get Cognigo when you remove the human element from a system to make it more efficient and transform it into a “human-free compliance and data protection” solution that’s powered by cognitive computing. This startup has made every effort to automate and provide seamless hands-free processes to implement security measures. In their own words, “We believe that IT-security has to deliver business value rather than just being a mere mandatory expenditure.”
This British tech unicorn founded in 2013 by mathematicians from the University of Cambridge and government cyber-intelligence experts in the U.S. and the UK uses artificial intelligence to create Darktrace. Establishing their position of leadership in AI, they launched the first-ever autonomous response technology, Darktrace Antigena in 2016. One of the key reasons why Darktrace has been embraced by Internet users is its effectiveness and, of course, their Enterprise Immune System. It is a real-time threat-detection system. Darktrace uses special algorithms that analyzes huge amounts of user data from a specific network which in turn helps establish a set of “normal” user actions. By monitoring for unusual activity as opposed to targeted threats, the software can respond to uncommon and significant attacks. With over 60,000 threats identified by the platform world-over, there are not many other startups that can boast of such stature.
3. Digital Shadows
Digital Shadows is a company that is all about reducing a company’s digital risk and avoiding exposure that is unwanted. They specialize in threat intelligence and helping companies contextualize data better in order to prioritize and manage security incidents. Their SearchLight tool is unique in that it allows for certain unique identifiers to be used along with machine learning to identify bigger threats and sift through the open, deep and dark web. With new offices in Singapore and Germany and $26 million in terms of Series C funding, the company is poised for a great year in 2019 and is definitely one to watch.
Cylance takes a proactive approach to predicting and preventing incidents. Their automated detect-and-respond capabilities seem way better than reactive solutions that are post-incident. Most companies cannot completely recover from certain type of attacks and hacker takedowns. Cylance provides a single agile agent that provides a predictive advantage with the help of a native AI platform. With a recent acquisition by BlackBerry for $1.4 billion, Cylance will remain a separate business unit within Blackberry, which has got its eyes set on a bigger slice of the information security pie.
Balbix is another startup that has joined the breach avoidance bandwagon in cybersecurity. They use AI to assess the risks of various platforms on the web, focusing on providing solutions not just for apps but also for other assets in a network. Their platform is unique with visual aids that look like maps that give a clear picture of the spread of risks and impact. They have also raised $20 million in a series B round of investments and are among the key players to watch.
This is an endpoint security company whose platform acts as a centralized hub for network endpoint protection. Tanium aggregates infrastructure data to continuously create a picture of the user’s environment and security. The company takes pride in its high-profile client base including Target, Barclays, and the U.S. Air Force. The company recently raised $200 million right after a round of investment of $175 million in May 2018 solidifying its place as a global leader in the cybersecurity industry.
Sysdig is a security startup founded in 2013 that focuses on container security. It launched its Secure product in October 2017 and has built it on Sysdig’s Falco open source container security project. This includes support for Kubernetes, Docker, Amazon Web Services, Elastic Compute Cloud (EC2), and Mesos. They also have a latest version that includes vulnerability management, over 200 compliance checks, and security analytics to cloud-native environments and microservices for enterprise customers. With a recent $68.5 million Series D funding round led by Insight Venture Partners, Sysdig told SDxCentral it would “invest aggressively” in its technology platform and in its sales, marketing, and customer success initiatives, and expand its team.
In addition to providing a wide range of solutions for small and medium-sized companies, Zeguro has a platform that offers a variety of solutions for users, with the help of their virtual security officer. It also serves as an insurance platform giving internet users relief in case they are attacked. With services like training, insurance, risk assessment, and overall management, Zeguro seems like a very comprehensive platform with amazing prospects in the cybersecurity industry, especially with their big plans for cyber insurance and other products. They raised a $5 million seed investment in November 2018 with small and medium-sized companies in mind.
This startup has heavily invested in studying security threats that are not carried out by humans (using technology) but by bots. This company also uses machine learning technologies for various threat identification methods. When it can be established that certain threats are not originating from humans and in fact by bots, PerimeterX kicks into action to tackle them and to avoid any damage beforehand. The company is breaking barriers when it comes to the sophistication of cyberthreats with their bot detection and bot protection features.
Just a sweeping look at these innovative startups says that cybersecurity today is all about artificial intelligence and machine learning. It used to be that security professionals relied on closed-box security tools and had to watch with eagle’s eyes to catch a threat. Today, the machines do all the heavy lifting and allow for security professionals to focus on the higher value tasks like the organization’s security strategy. That’s worth all the attention and investment these nine cybersecurity startups are enjoying in 2019.
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