Business and Finance News

CyberSmart has today announced the completion of a successful over-subscribed Series A funding round, bringing the total raised to over $10 million. Alongside deeptech fund IQ Capital and with the additional support of InsurTech specialist, Eos Venture Partners, and data science focused Winton Ventures, CyberSmart is set to further disrupt the cybersecurity market. The funding will be used to enhance their product’s capabilities further, invest in channel partnerships as well as scale into the UK...

Synopsys, Inc. has just recently announced that it has acquired Code Dx, provider of an award-winning application security risk management solution that automates and accelerates the discovery, prioritisation, and remediation of software vulnerabilities. This move by the software giant will allow customers to receive consolidated risk reporting and prioritisation across correlated software vulnerability data produced by Synopsys solutions and more than 75 third-party and open-source application security and development products. Prior to the acquisition, Code...

The recent cyber-attack against Oldsmar Water Plant in Florida has increased concerns over cybercriminals targeting industrial organisations and highlighted that the cyber-physical attacks that have been predicted for years, are now happening. In February this year, it was announced that cybercriminals had broken into the water plant and changed the level of sodium hydroxide being fed to people’s homes from 100 parts per million to 11,100 parts per million. It took over five hours for an...

A report released this week by Outpost24, that examined the security posture of web applications amongst the Top 10 US Credit Unions, has revealed that they all have security issues. Using Outpost24’s attack surface discovery tool called Scout, Outpost24 was able to analyse each Credit Union’s public-facing web security environments against the seven most common attack vectors used by hackers during reconnaissance, to ascertain a risk score that is measured 1-100. The attack vectors are labelled as...

Outpost24, specialists in managing cybersecurity exposure, has celebrated its 20th year anniversary by announcing the appointment of Karl Thedéen as the company’s new Chief Executive Officer. Thedéen brings over 20 years of experience in the software and technology sector, having previously held CEO roles at Edgeware AB and Transmode AB public in 2011 before its acquisition by Infinera. Thedeen will be replacing Martin Henricson who will continue to serve as a member on the board...

Beech Tree Private Equity has announced a significant investment in Performanta, a fast-growing global provider of managed cyber security services to enterprise customers. Performanta provides an end-to-end security solution for customers, advising on security strategies as well as monitoring their environments 24/7 - including full Managed Detection and Response (MDR) and Incident Response services. Beech Tree will support Performanta with its plans to scale up rapidly, enhancing sales to accelerate its focus on enterprise customers...

Mobile cybersecurity specialists, Lookout, has acquired CipherCloud, a cloud-native security company that operates in the emerging Secure Access Service Edge (SASE) market. Through this acquisition, which combines the Lookout Mobile Endpoint Security with the CipherCloud SASE technologies, Lookout believes it is in the best position to provide industry’s first end-to-end platform that secures an organisation’s entire data path from endpoint to cloud.    Given the rise in the number of remote users and the rapid adoption of cloud technology, the need for...

Red Canary has closed its $81 million Series C financing round led by global growth equity investor Summit Partners. The new funding will help to support continued investment in both product and team expansion as the company continues to work toward enabling every organization to make its greatest impact without concern of cyber-attacks. A leading provider of SaaS-based security operations solutions, Red Canary provides outcome-focused solutions for security operation teams, to analyse and respond to endpoint...

Nozomi Networks Inc., the leader in OT and IoT security, today announced record 2020 growth and tremendous momentum moving into 2021. As industrial and critical infrastructure cybersecurity threats made operational resilience a top priority for large enterprises around the world, the company experienced 110% growth in annual recurring revenue (ARR) and doubled its customer base with a 90% increase in new customer revenues. The COVID-19 pandemic has accelerated digital transformation, sped industrial connectivity and driven...

Vdoo, a leader in product security for embedded software, today revealed it had extended its Series B funding to $57M, in an additional round led by Qumra Capital, Verizon Ventures, and others. The round was completed in the third quarter of last year, and the new funding was leveraged to expand Vdoo’s offering to the telco and smart utility space, at the backdrop of the connectivity surge induced by COVID-19. The round increased the total...