Akshat Jain, Co-founder & CTO, Cyware
“Cyware’s suite of solutions helps organisations leverage the power of security automation and orchestration, cyber fusion, threat intelligence sharing, and situational awareness, and threat response in order to align their people, processes, and technology towards the shared security priorities of all their stakeholders.”Akshat Jain, Co-founder & CTO, Cyware
With the cyberattacks on the rise, organizations are looking at various options to safeguard their data and identities. Cyware is one such solutions provide who is differently and seamless supporting the organizations by automating threat intelligence by integrating security operations of the organizations. Akshat Jain, Co-founder & CTO, Cyware spoke about how the company can add value to the user organizations. An excerpt.
What was the idea behind Cyware? Please take us briefly through your brand journey so far.
We founded Cyware with a vision of building a self-responding collective defense network that drives cross-sectoral collaboration at industry scale through next-generation cyber fusion centers. As professionals leading large teams in the security and technology domains for global corporations in our previous stints, Anuj Goel and I recognised the shortcomings of the siloed, reactive, and manually-driven security processes employed by organisations in the past. The lack of security collaboration exacerbates these challenges as technology infrastructure keeps expanding with every passing day. We set out to help organisations overcome these challenges and transform the security landscape by creating cyber fusion centers that form the core of our self-responding collective defense ecosystem. Cyware has built scalable solutions to help organisations adopt a threat-intel and security automation-driven approach for proactively curbing cyber threats. Together, Cyware’s suite of solutions helps organisations leverage the power of security automation and orchestration, cyber fusion, threat intelligence sharing, and situational awareness, and threat response in order to align their people, processes, and technology towards the shared security priorities of all their stakeholders. Today, Cyware is making secure collaboration, information sharing, and enhanced threat visibility a reality for enterprises, information sharing communities (ISACs/ISAOs), National CERTs, regulatory bodies, and government agencies globally.
With the pandemic still in vogue, what major cyber market trends would you forecast for 2022?
The pandemic has escalated the use of digital technologies and led to the adoption of remote work for enterprises of all sizes and across many sectors. This has caused drastic changes in the security threat environment for organisations as their technology infrastructure becomes increasingly distributed. Threat actors are capitalizing on the new extended attack surface with endless attacks on remote access solutions, virtual collaboration tools, and the software and hardware supply-chains. The rise in the number of smart, connected devices for various applications has further added to the security risks faced by individuals and organisations alike. Ransomware threats and social engineering attacks exploiting ongoing trends have also made things worse. In the continual game of cat and mouse between the defenders and the threat actors, the addition of new technologies into the mix only creates more security risks. Organisations will look to level up their security operations with key technologies like threat intelligence operationalization, security orchestration, and automation to become more cyber resilient going forward in 2022.
How are Next-Gen Techs like AI/ML impacting the Cyber Threat Landscape?
The use of AI/ML technologies is growing in the cyber domain, with security technology providers using it to improve the capabilities of their solutions and make threat management easier. While AI/ML can help organisations improve their threat detection, monitoring, and response processes, it is crucial to find the synergy between man and machine capabilities to make the most out of it. Cyware’s solutions leverage Artificial Intelligence and Machine Learning to find attack patterns from heaps of threat Intel gathered from multiple sources, correlate with historical threats, prioritise threat mitigation actions, as well as accelerate incident management workflows.
When it comes to collective cyber defense, why is Cyber Innovation so critical in a digital-first economy?
Digital transformation is completely changing the way different industries conduct their business operations in today’s day and age. In order to cope with rising cyber threats, innovation in the cybersecurity domain is needed to help organisations accelerate their threat response and management capabilities. While security teams continue to improve their performance, it is also crucial to bring other stakeholders within and outside the organization on the same page in their security processes. True collective cyber defense can only be achieved through information sharing and operational collaboration at every step of the threat lifecycle. Instead of adding to the complexity of the security technology stack, organisations need innovative solutions that enable collective cyber defense while also helping simplify security governance and their daily operations.
Are there any major investment plans from Cyware for 2022?
Cyware has built its brand equity and gained a lot of trust from its investors through the combination of category-defining products, exceeding the expectations of its clients, and its continued expansion across various verticals and geographies. This enabled Cyware to close its Series B ($30 million, March 2021) and Series A ($10 million, August 2020) funding rounds, with a total of $43 million raised to date. The renowned group of investors backing Cyware include Advent International, TenEleven Ventures, Tanium, Zscaler, Prelude (the venture practice at Mercato Partners), Emerald Development Managers, CrossPoint Capital Partners, and several industry veterans. Our plan, for now, is to keep growing and continue solving the most complex challenges in the cybersecurity domain. We will raise funds at an opportune moment in the future based on the company’s growth trajectory and operational requirements.
Please detail us on Cyware’s initiative to create a ‘first-of-its-kind global collective defense network.’
Today, cyber threats are a shared challenge for organisations large or small in both the public and private sectors. In light of the growing cybersecurity risks, organisations need to build bridges to collectively fend off critical threats. Cyware is building the first-of-its-kind global collective defense network through its advanced cross-sectoral threat intel sharing platforms that connects all the stakeholders within an organization, as well as its business partners, vendors, industry peers, national CERTs, information sharing communities (ISACs/ISAOs), and others. Through this network, organisations can share strategic, tactical, technical and operational threat intelligence in real-time to ensure a timely response to various threats. More than 20 information sharing communities (ISACs, ISAOs, and CERTs) from financial services, automotive, space, aviation, healthcare, retail, energy, and manufacturing sectors, among others, are using Cyware’s solutions to share threat intelligence with their 10,000+ member organisations.
Moreover, Cyware’s security orchestration and automation (SOAR) and connected threat intelligence (TIP) solutions enable organisations to operationalize the collected threat intel through the combination of human and machine capabilities in an integrated SecOps setup under a single roof. Together, Cyware’s solutions equip organisations with the necessary technological capabilities to adopt a collective defense approach in their cybersecurity strategy.
How do Cyware’s cyber fusion solutions ensure end-to-end threat intelligence automation for organisations globally?
Cyware’s cyber fusion solutions help security teams leverage threat intelligence to drive security actions across the cloud-based, on-premise, or hybrid infrastructure. From the ingestion of threat intel via different internal and external sources to analysis and operationalization, Cyware’s solutions provide security teams the ability to automate their end-to-end threat intel operations. Furthermore, Cyware also provides organisations with the advantage of last-mile delivery of threat intel for smarter and faster decision-making and actioning. Together, Cyware’s solutions provide a seamless and automated threat intelligence integration in security operations.
Please enlighten us on Cyware’s Roadmap for 2022 and beyond.
Cybersecurity has become a make-or-break factor affecting the bottom line for organisations globally. Cyware is well-positioned to enable organisations to bolster their cybersecurity postures with our cyber fusion, threat intelligence, security orchestration and automation, and situational awareness solutions. Cyware is rapidly expanding its operations across major geographical regions that includes India and SAARC, EMEA, North America, Asia Pacific and Japan and Australia-New Zealand, and witnessing a rapid adoption of its solutions across various sectors, including clientele such as large enterprises, information sharing communities (ISACs/ISAOs), National CERTs, and more. Our 100% net-dollar retention rate in 2021 demonstrates our commitment to our rapidly growing installed base, and to enhancing every SecOps teams’ capabilities around advanced Security Orchestration and Automated Response (SOAR), cyber fusion, and threat intelligence operationalisation. Cyware will continue its exciting journey by doubling down on its hyper-growth momentum with its cyber fusion center solutions and bringing together the good actors in the fight against cyber threats.
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