StartUpMonday #30: The Hottest Cyber Security Startups of 2016
A lot is at stake when it comes to cyber security. No company wants to have to explain to their users why or how their personal details were hacked. Implementing a strong, secure platform is of utmost importance so that these embarrassing and particularly harmful slip ups can be avoided. Not only that, companies spend billions of dollars every year dealing with the repercussions of cyber attacks, money which would be better spent elsewhere. Here are three leading cyber security companies aiming to change that by providing impenetrable protection when it comes to online security:
‘Skybox Security’ – The One Platform that Deals with all your Cyber Security Challenges
Established back in 2002 by Israeli Gidi Cohen, Skybox Security has since raised $118.8M and is now a worldwide company providing high-level risk analytics for enterprise cyber security management. Services offered by the company allow for reduction in vulnerability and extra fast response time for when breaches do occur. Customers of the company are anything but small-fry, with all sorts of large-scale organizations in areas such as: financial, telecommunications, retail, government, energy, utilities and defence implementing Skybox Security solutions.
Being used to protect some of the most demanding networks in the world, the Skybox platform is continually striving to remain at the top of its game. The solution has been so successful due to its ability to offer a holistic and clear view into a network, alongside its capability to deal with any cyber security issues that may pop up. By combining firewall and network device data with vulnerability and threat intelligence, security decisions can be made with a clear view of the bigger picture, enabling hazards to be more efficiently and effectively dealt with.
Headquarters of the company are situated in San Jose, California, but Skybox Security manages its worldwide presence via sales and support teams worldwide. Skybox have been featured in some of the most prestigious entrepreneurial news outlets, including the Wall Street Journal, the Silicon Valley Business Journal, and Geektime.
Reliable Fraud Prevention for Online Merchants from ‘Riskified’
Riskified solves one of the problems that so far online merchants have simply had to deal with: fraud. Sellers on eCommerce sites are constantly at risk of chargeback or other fraudulent activity which they currently have to bear the cost of alone, damaging profits and hindering growth. Riskified reviews, approves, and even guarantees that transactions will go through, even offering a 100% money back promise if fraud does occur, giving power back to the merchant.
Founded in Tel Aviv in 2012, Riskified has raised a whopping $30.65M in funding over three rounds. The startup claims to be able to increase sales by 30% and decrease declines by 66%, which are some very favorable statistics. As a comprehensive solution, Riskified offers a huge range of tools which there are too many of to mention here. Believing that no merchant should have to implement and manage multiple tools in order to protect against fraud, the company built an integrated solution to help online sellers avoid the headache of fraud.
‘Hexadite’ Investigates all Security Blips so you Don’t Have to
Hexadite is all about speed..priding itself on being able to remedy cyber security blips as soon as they occur, allowing companies to maximize effectivity, rather than wasting effort recovering from cyber-attacks. Defined as a “fully automated incident response solution”, Hexadite is different to other cyber security platforms as it allows for immediate response from organizations to handle potential security breaches. After detecting an anomaly, Hexadite will send an alert to the organization and provide the opportunity to close out the incident within a matter of minutes, or even seconds.
Based in Tel Aviv, the company was founded in 2014 and has managed to secure $10.5M in funding, $8M of which was provided by Hewlett Packard Ventures. Founders Eran Barak, Idan Levin, and Barak Klinghofer all gained their cyber-analyst badges from years of training in elite intelligence units of the Israel Defence Forces (IDF). They came together to create Hexadite as they “understood that there is a gap between the time that an alert is raised from any detection system until the time it is actually investigated and remediated” and wished to change this.