We just covered the news that a company in Mexico is being held hostage for $5M as part of a ransomware attack with a deadline of the end of the month.
The costs per attack are also rising – up to $2.5-$3 per attack – even for small businesses.
These hacks are getting worse and more targeted.
This is why funding for cybersecurity companies is flowing like spiked seltzer at a millennial get-together.
It also explains why IntSights just raised a $30 million series D to accelerate expansion of the IntSights External Threat Protection Suite. Qumra Capital led the round, which was joined by existing investors. IntSights has raised a total of $70 million in capital and, as part of this new round of funding, Boaz Dinte from Qumra Capital will join the IntSights Board of Directors.
IntSights provides enterprises with all-in-one external threat protection solution that enables security teams to gain visibility and control over threats outside the wire. The offering includes Threat Command, Threat Intelligence Platform, Threat Orchestration, and Threat Research to consolidate mission-critical external threat intelligence capabilities into a single solution. Founded in 2015, IntSights has grown rapidly with a triple-digit year-over-year compound growth rate and boasts customers like Caesars Entertainment, Gett, Wipro and American Eagle Outfitters.
“IntSights is disrupting the multibillion-dollar threat intelligence market by enabling enterprises to automatically identify, block, and take down threats in their external environment,” said Guy Nizan, Co-founder and CEO of IntSights. “Unlike any other solution on the market, the foundation of our product line is based around automation. This gives us the ability to scale our capabilities to address cybersecurity threats across the clear, deep, and dark web, and provide an end-to-end remediation process. We don’t just detect threats, we resolve them for you. With this new round of investment, we will accelerate our produt development and expand commercial operations.”
“IntSights has built a reputation as the leader in external threat intelligence,” said Boaz Dinte, Managing Director of Qumra. “The external threat intelligence space is going through a revolution, where automation is becoming the key component to effectively identify and respond to cyber threats. Additionally, IntSights’ all-in-one approach consolidates the highly fragmented TI market into a single solution, enabling the company to disrupt multiple adjacent markets and help enterprises gain operational efficiency while improving security.”
Key Executive Appointments:
- David Johnson has been appointed to the company’s advisory board and will work with the executive team on strategic initiatives. Johnson has a storied history in the technology world, having spent 27 years at IBM, where he held various executive positions, culminating with Vice President of Corporate Development. In this role, he managed IBM’s venture and private equity investments, led acquisitions and divestitures, and oversaw the integration of acquired companies into IBM. More recently, he served as a Senior Managing Director at Blackstone, overseeing its technology investments. He remains a senior advisor to Blackstone, and has served on the boards of Cylance, Optiv, New Horizons, Mphasis, Pactera, Cloudera, and Mercy College. He also serves as the Chairman of the Board of Experts for Glilot Capital Partners.
- Jason Thompson has been appointed Chief Operating Officer & Chief Marketing Officer and will lead day-to-day business operations as well as oversee marketing and sales development for the company. Thompson brings more than 15 years of experience to the role and has a strong track record of scaling high-growth companies.
- Brian Costello has been appointed Vice President, Americas Sales & Global Channels and will lead the company’s expansion in the Americas as well as global channel initiatives. Costello has 20 years of experience in sales and channel development and has an extensive background in cybersecurity. He will report to Chief Revenue Officer Jay Zimmet.
End-to-end remediation is a critical differentiator and much needed to handle the massive number of threats that are coming at organizations. As 5G comes online allowing ever-faster connections and AI becomes mainstream, hackers will become even more sophisticated. This is why we need advanced solutions like Intsights to help organizations stay secure.
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