DATA SECURITY

Evolution Equity Partners Expands Focused Investment Platform for Cybersecurity

prnewswire | December 23, 2020

In 2020, Evolution activated a $250m Fund after fully investing a $125m Fund in 2019 and increased AUM to over $675m. The firm completed 8 investments this year including:

Quantexa – London based market leader in financial crime detection and real time AML/KYC. $56m Series C Round led by Evolution.
Unbound Technologies – New York City/Tel Aviv based market leader in secure multi-party computation and cryptographic keys. $20m Series B Round led by Evolution.
Awake Security – Palo Alto based leading network security platform. $36m Series C Led by Evolution.
(Stealth Company) – London based Quantum cybersecurity company. Early-stage financing led by Evolution.
Existing portfolio companies raised follow on rounds of financing in 2020 including:

DefinedCrowd – Seattle based AI/ML data platform leader.
Panaseer – London based continuous control monitoring cybersecurity leader.
Onapsis - Boston based application cybersecurity leader.
Logpoint – Copenhagen based security incident and event management (SIEM) leader.
CounterCraft – London based cyber deception and threat intelligence platform.
Evolution cybersecurity portfolio companies growth news:

Security Scorecard – Security Scorecard Accelerates on Pathway to 20 million Rated Companies
Truefort – Winner of 2020 Red Herring Top 100 North America Award
DFLabs – IncMan SOAR SaaS Cloud Platform Drives Growth
Richard Seewald, Founder & Managing Partner at Evolution, stated: "In 2020 Evolution continued to add talent and assets to a team of leading cybersecurity investors and company builders while partnering with trailblazing software companies expanding in global markets. As we look to 2021, there are a unique set of conditions that set the stage for cybersecurity entrepreneurs to make meaningful impact protecting critical infrastructure in cyberspace. Evolution is privileged to be partnering with these great companies."

Awards

Among many notable accolades awarded in 2020 to Evolution and our portfolio, we are pleased to be working with some of the fasted growing cybersecurity and enterprise software companies in the world.

Platform Expansion

Evolution launched a London office to compliment Palo Alto, New York City and Zurich and added professionals to expand the platform of expertise that serves portfolio companies. The firm has 15 investment professionals including two recent hires:

Ollie Bone, Associate – Prior to joining Evolution, Ollie led venture scouting for global corporates in defense, manufacturing and consulting. He ran an accelerator program for cybersecurity scaleups building a UK and global support network for founders where he worked with leading cybersecurity companies.

Eduardo Martinez, Associate – Eduardo is an associate at Evolution Equity Partners focused on sourcing and monitoring investment opportunities across the technology sector. He is in charge of portfolio management and reporting, performing valuation analysis and due diligence of investments.

Spotlight

Change is headed your way whether you're prepared or not. DoS/DDoS attacks are the weapon of choice for cyber-hacktivist groups and are increasing in severity and complexity. But don't press the panic button just yet. The 2013 Global Application and Network Security Report provides insight to help detect, mitigate and win the extended and persistent DoS/DDoS battle.


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DATA SECURITY, ENTERPRISE IDENTITY

Cybeats Announces Partnership with Veracode, an Industry-Leading Application Security Firm

Cybeats | September 29, 2022

Cybeats Technologies Inc., a leading software supply chain risk and security technology provider announces a strategic partnership with Veracode, a leading global provider of application security testing solutions. The partnership will leverage complementary expertise to ensure customers receive the highest standard of cybersecurity solutions. Cybeats' software supply chain security product, SBOM Studio, will be available to customers through Veracode Partners, and the companies will explore joint commercial opportunities. Once generated within the Veracode Continuous Software Security Platform, a Software Bill of Materials (SBOM) can enable greater software security by offering a full inventory of the third-party components used within an application. Cybeats SBOM Studio is an enterprise-class solution that helps companies understand and track third-party components that are an integral part of their own software. Veracode will provide advice and guidance around the commercial deployment of SBOM Studio within its existing customer base. The partnership aims to enable both companies to continue to expand their existing presence in the global cybersecurity market. Through this alliance, the companies' joint customers will be able to maximize their technology investments and procure, develop, and deploy secure software, while reducing the risk of a security breach resulting from weak links in their software supply chain. "As a Veracode Elite Technology Alliance Partner, Cybeats brings additional expert solutions to the frictionless developer experience already offered by our Continuous Software Security Platform," said Laurie Haley, Vice President of Strategic Alliances at Veracode. "By complementing our existing software composition analysis capability, Cybeats' integrated solutions will allow customers to maximize SBOM (Software Bill of Materials) utility and simplify their workflow for greater ROI." "We are honoured to partner with Veracode to expand each other's presence in the global cybersecurity market. As the cyber risk related to software supply chain attacks continues to mount, deep visibility and universal transparency using SBOMS is necessary for resilient cybersecurity defense." Yoav Raiter, CEO, Cybeats "In this modern era of rapid development, the importance of time to market and automation is paramount. Together, Veracode and Cybeats offer a substantial contribution to enabling our customers to align with the SBOM market needs and seamlessly support practices mentioned in SSDF NIST 800-218 framework without increasing the overhead on their development and product security teams," said Dmitry Raidman, CTO, Cybeats Through a single, centralized platform offering comprehensive visibility into vulnerabilities using all software security testing types, Veracode delivers one of the industry's only cloud-native solutions that allows partners to onboard quickly and seamlessly, so companies can securely move AppSec to the cloud. As a result of this partnership, Veracode can easily integrate the full breadth of Cybeats' software solutions into their customers' environments. The partner program provides market-leading solutions and services to get partners up and running straight away, with minimal impact to their existing business. Cybeats SBOM Studio SBOM Studio provides organizations with the capability to efficiently manage SBOM and software vulnerabilities, and provides proactive mitigation of risks to their software supply chain. Key product features include robust software supply chain intelligence, universal SBOM document management and repository, continuous vulnerability, threat insights, precise risk management, open source software license infringement and utilization, and secure SBOM exchange with regulatory authorities, customers and vendors, at reduced cost. About Cybeats Cybeats is a leading software supply chain intelligence technology provider, helping organizations manage risk, meet compliance and secure software from procurement, development through operation. Our platform provides customers with deep visibility and universal transparency into their software supply chain, as a result enables them to increase operational efficiencies and revenue. Cybeats. Software Made Certain.

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DATA SECURITY, ENTERPRISE IDENTITY

Keeper Security's Cybersecurity Census Finds U.S. Businesses are Unprepared for Escalation in Cyberattacks

Keeper Security | September 15, 2022

Keeper Security, the leading provider of zero-trust, zero-knowledge and FedRAMP Authorized cybersecurity software, today released findings from its second annual Cybersecurity Census. The report explores insights from IT decision-makers at businesses and organizations across the U.S., revealing that most respondents expect the onslaught of cyberattacks to intensify over the next year, yet 32% lack a management platform for IT secrets–posing a significant risk to organizational security. The 2022 U.S.Cybersecurity Census Report explores the ongoing threats of cyberattacks and the need for cybersecurity investment. The report maps the evolving cybersecurity landscape as hybrid and remote work have transformed businesses over the past two years. According to survey findings, the average U.S. business experiences 42 cyberattacks annually—between three to four each month. Still, fewer than half (44%) of respondents provide their employees with guidance or best practices for governing passwords and access management. IT leaders reveal a lack of preparedness for cyberattacks U.S. businesses face many cyberattacks each year, significantly impacting their organizations. Most respondents agree the total number of attacks will increase over the next year, with 39% predicting the number of successful cyberattacks will also rise. Most organizations in the U.S. believe they're prepared to fend off cyberattacks, with 64% of respondents rating their preparedness at least an eight on a 10-point scale and 28% rating themselves as a 10/10. At the same time, the majority of respondents (57%) say it is taking longer to respond to attacks and only 8% say responses are getting faster. Though most report feeling prepared for attacks, leaders admit their tech stacks lack essential tools. Nearly one-third of respondents (32%) lack a management platform for IT secrets, such as API keys, database passwords and privileged credentials. 84% are concerned about the dangers of hard-coded credentials in source code but 25% don't have software to remove them. More than one-quarter of respondents (26%) said they lack a remote connection management solution to secure remote access to IT infrastructure. With the rise in hybrid work and remote work, this is a significant security gap. This lack of investment in cybersecurity tools is alarming, especially considering the lasting impact of cyberattacks that survey respondents revealed. Nearly one-third (31%) suffered a disruption of partner or customer operations in the wake of a cyberattack and the same percentage experienced theft of financial information. 18% of organizations experienced theft of money, with the average amounting to more than $75,000, while 37% lost $100,000 or more. 23% experienced the inability to carry out business operations. In addition to direct costs, cyberattacks can cause lasting damage to business perception and client trust. More than one-quarter of respondents (28%) suffered reputational damage due to a successful cyberattack and 19% reported losing business or a contract. "The volume and pace at which cyberattacks are hitting businesses is increasing and with that come severe financial, reputational and organizational penalties," said Darren Guccione, CEO and co-founder of Keeper Security. "Leadership must prioritize cybersecurity, enabling their security teams to address rapid shifts in technology and distributed remote work. The impact these shifts have on cybersecurity are both pervasive and extreme. Building a culture of trust, accountability and responsiveness is critical." U.S. businesses must take immediate action against cyber threats Cybersecurity is a pillar of every good business and these findings underscore the need for business leaders to make cybersecurity a part of organizational culture. U.S. business leaders are working to source the necessary talent to stay secure. Nearly three-quarters (71%) of respondents have made new hires in cybersecurity over the past year and 58% say they've increased cybersecurity training. A devastating cyberattack is one stolen password away, but despite this threat, fewer than half (48%) of respondents state they have plans to invest in password management, visibility tools for network-based threats or infrastructure secrets management. Only 44% of respondents provide their employees with guidance and best practices governing passwords and access management. 30% of respondents allow employees to set and manage their passwords and admit that employees often share access to passwords. A mere 26% have a highly sophisticated framework for visibility and control of identity security. Many organizations are considering future investments with 73% of respondents expecting their cybersecurity budgets to increase. However, they face being outmatched by rising external threats and the demands created by existing weaknesses. Cybersecurity in company culture Employees understand the dangers of both external and internal threats. An overwhelming 79% of IT professionals are concerned about a breach from within their organization and 47% have suffered a breach of that nature. As more employees work remotely, businesses must rethink their investments in order to maintain security. In fact, 40% of respondents highlighted remote and hybrid work as a top concern, with rising external threats close behind at 39%. IT leaders themselves admit a lack of transparency in cyber incident reporting within their organizations, with nearly half of respondents (48%) being aware of a cyberattack, but keeping it to themselves. Businesses must foster a sense of trust and transparency in their organizations, creating an open dialogue to recognize the scale of the cybersecurity challenges their organization faces. Only with that recognition can resources be devoted to education and embedding a cybersecurity mindset into the organization's culture. Keeper's 2022 U.S. Cybersecurity Census Report demonstrates that cyberattacks present a profound and ongoing threat. Preventative measures, including investment, education and cultural shifts, are essential for businesses to drive resilience and protect their organizations from cybercriminals. Methodology The report yielded results from 516 IT leaders and decision-makers in businesses across the U.S. About Keeper Security Keeper Security, Inc. ("Keeper") is transforming the way organizations and individuals protect their credentials, secrets, connections and sensitive digital assets to significantly reduce the risks of identity security-related cyberattacks, while gaining visibility and control. Keeper is the leading provider of zero-trust and zero-knowledge security cloud services trusted by millions of people and thousands of organizations for password management, secrets management, privileged access, secure remote infrastructure access and encrypted messaging.

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DATA SECURITY, PLATFORM SECURITY

BigID Wins “Compliance Software Solution of the Year” in 6th Annual CyberSecurity Breakthrough Awards Program

BigID | October 11, 2022

BigID, the leading data intelligence platform for privacy, security, and governance, today announced that it has been awarded “Compliance Software Solution of the Year” in the 6th annual CyberSecurity Breakthrough Awards program conducted by CyberSecurity Breakthrough, a leading independent market intelligence organization that recognizes the top companies, technologies and products in the global information security market today. “This recognition from CyberSecurity Breakthrough highlights our commitment to providing customers with security and compliance solutions that are designed for today and tomorrow’s data challenges. “We designed BigID to be an actionable data intelligence platform built for enterprise scale - all while meeting continuously shifting compliance requirements.” Dimitri Sirota, CEO and co-founder of BigID The mission of the CyberSecurity Breakthrough Awards is to honor excellence and recognize the innovation, hard work and success in a range of information security categories, including Cloud Security, Threat Detection, Risk Management, Fraud Prevention, Mobile Security, Email Security and many more. This year’s program attracted more than 4,100 nominations from over 20 different countries throughout the world. “Organizations need to be able to find, classify, inventory, and manage all of their sensitive data, regardless of where or what it is. It's a momentous task and requires addressing common challenges including, but not limited to: Siloed data, lack of visibility and accurate insight, and balancing legacy systems with cloud data. All while meeting a litany of compliance requirements,” said James Johnson, managing director, CyberSecurity Breakthrough. “BigID is purpose-built to discover and manage all enterprise data - business, regulated, sensitive, critical, and personal data. A hearty congratulations on winning the ‘Compliance Software Solution of the Year’ award.” With BigID, customers can automate alerts on cross-border data-sovereignty violations, and ensure compliance with CCPA, GDPR, HIPAA, PCI and other data privacy and protection regulations and security frameworks. About BigID BigID's data intelligence platform enables organizations to know their enterprise data and take action for privacy, security, and governance. Customers deploy BigID to proactively discover, manage, protect, and get more value from their regulated, sensitive, and personal data across their data landscape. BigID has been recognized for its data intelligence innovation as a 2019 World Economic Forum Technology Pioneer, named to the 2021 Forbes Cloud 100, the 2021 Inc 5000 as the #19th fastest growing company and #1 in Security, a Business Insider 2020 AI Startup to Watch, and an RSA Innovation Sandbox winner. Find out more at https://bigid.com. About CyberSecurity Breakthrough Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the CyberSecurity Breakthrough Awards program is devoted to honoring excellence in information security and cybersecurity technology companies, products and people. The CyberSecurity Breakthrough Awards provide a platform for public recognition around the achievements of breakthrough information security companies and products in categories including Cloud Security, Threat Detection, Risk Management, Fraud Prevention, Mobile Security, Web and Email Security, UTM, Firewall and more.

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DATA SECURITY, ENTERPRISE IDENTITY, SOFTWARE SECURITY

SynSaber Adds New Dynamic Pipeline to OT Cybersecurity Platform

SynSaber | October 21, 2022

SynSaber, an early-stage ICS/OT cybersecurity and asset monitoring company, today announced the addition of a new Dynamic Pipeline feature to the company's platform, providing customers with improved scalability and flexibility. Building upon the product launched in February 2022, this update includes a comprehensive set of features and capabilities to collect, analyze, and curate data at the OT edge. SynSaber was purpose-built to bring edge visibility to industrial networks (oil and gas, water and electric utilities, advanced manufacturing) so that organizations can deploy and scale rapidly, integrate with current technology, and detect threats to protect business-critical assets. "SynSaber partners with some of the most important critical infrastructure operators in the nation to protect and provide visibility into how ICS/OT assets are exposed to potential cyber attacks. "With our latest update to the platform, customers are now able to extend visibility and flexibility throughout the organization for cybersecurity to act as a business continuity vehicle and empower operators and asset owners to prevent any operational disruption." Jori VanAntwerp, Co-Founder/CEO of SynSaber Dynamic Pipeline 's Key Benefits: Users can modify data sources, processors, and destinations in real-time, enabling dynamic configuration changes without interruption to visibility. Pipeline configuration can be modified and deployed within SynSaber's visual-based interface. The ability to dynamically configure Saber sensors from a visual-based interface allows for greater control and ease of access. In addition to the improved scalability and flexibility the dynamic pipeline provides, the v1.1.0 update includes enhancements to some of the existing features from SynSaber version v1.0.0. These feature improvements include: Custom flow module enables near real-time processing and analysis of data and asset identification. Improved Syslog support allows fast and efficient communication with existing infrastructure and technologies. About SynSaber SynSaber is the simple, flexible, and scalable industrial asset and network monitoring solution that provides continuous insight into the status, vulnerabilities, and threats across every point in the industrial ecosystem, empowering operators to observe, detect and defend OT/IT systems and protect critical infrastructure. SynSaber is privately held with funding from SYN Ventures, Rally Ventures, and Cyber Mentor Fund.

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Spotlight

Change is headed your way whether you're prepared or not. DoS/DDoS attacks are the weapon of choice for cyber-hacktivist groups and are increasing in severity and complexity. But don't press the panic button just yet. The 2013 Global Application and Network Security Report provides insight to help detect, mitigate and win the extended and persistent DoS/DDoS battle.

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