Security vendor AlienVault has announced that the company’s threat detection and incident response platform, the Unified Security Management (USM), is on the rise with sales and growth exceeding expectations. By the end of 2017, AlienVault had increased its install base to over 7,000 businesses, which range from banks, healthcare providers, retailers, universities and governmental institutions.
The growth is mirroring the current cyber threat landscape and this will continue to grow so long as cybercriminals continue to target organisations with sophisticated attacks.
2017 could be labelled as the coming of age for cybersecurity with WannaCry, NotPetya and Bad Rabbit hitting multinational organisations and critical national infrastructures.
These high-profile cyber-attacks, along with upcoming data security regulations, have brought cyber to the forefront of the global discussion which has only amplified security investment. In fact, Gartner predicts worldwide spending on information security to reach $90 billion in 2017, an increase of 7.6 percent over 2016, and to top $113 billion by 2020.
AlienVault’s president and CEO, Barmak Meftah, states that for modern security solutions to be successful, they must be more encompassing with the tools they offer.
“Given the complexity of today’s modern attacks and compliance mandates such as GDPR, PCI DSS, HIPAA and others, organizations need a security solution that enables faster threat detection and response, reduces risk and ensures compliance.”
Barmark continues, saying “the traditional approach of buying and integrating dozens of security point products is no longer effective as it requires too much time and skilled resources. Our differentiated approach – a SaaS deployment model that integrates critical security capabilities and automation and orchestration into a unified security management solution – challenges the industry’s dependency on point products, which have proven to be ineffective in detecting today’s advanced threats. The rapid adoption of AlienVault USM across thousands of customers and MSSP partners validate the cost savings, threat detection and response benefits and compliance efficiency of this approach. We expect our growth to continue in 2018 as we help organizations rethink their approach to security and achieve compliance.”
Given the number of businesses that have been hit by a cyber-attack has doubled in the past two years, the demand for cyber defences will not stop anytime soon.