Cyware’s enterprise solutions are designed to promote secure collaboration, inculcate cyber resilience, enhance threat visibility and more
The pandemic has created an urgent shift to digital, and threat intelligence solution firm Cyware is doing its bit to keep companies safe and secure. A new-age security firm that was founded in 2016 by Akshat Jain and Anuj Goel, Cyware helps enterprise cybersecurity teams build platform-agnostic virtual cyber fusion centres. “It is the industry’s only provider of virtual cyber fusion platform that combines next-generation threat intelligence and security orchestration, automation, and response (SOAR) technologies to deliver the collective defense and visibility security operations teams need to work collaboratively and better protect their organisations from advanced attacks,” claims Jain, the company’s CTO and co-founder.
Jain has earlier led the development of technology solutions for large organisations such as Oracle and Adobe, whereas Goel, who previously was heading Global Cyber Strategy and Planning at Citi, New York, has an impressive pedigree in steering large security teams. “We realised the increasing gaps in the capabilities of security teams against modern shape-shifting cyber adversaries who are well-funded and resourced to successfully target even the most secure organisations,” says Jain. The gaps stem from the way security teams have been structured and how their technology is configured. “We found that the majority of teams lack a fundamental understanding of their organisation’s threat landscape, forcing them to operate in a reactive-only capacity amid their siloed domains and strategies,” he informs.
According to him, the key to addressing modern security challenges lies in breaking out of a reactionary mode and build towards a collective defense against threat actors that features a strategic combination of end-to-end automation and intelligence-driven security operations so teams are aligned and optimised for massive-scale threat response. “If you closely observe the prevailing threat landscape, cybercriminals are collaborating with each other by sharing their tactics, techniques, and procedures and experiences from targeted campaigns. Likewise, security teams also need to collaborate and organise a collective defense against such adversaries by sharing real-time threat intelligence, best practices, and mitigation strategies over secured platforms,” he adds.
Since launching its products in 2018, Cyware has come a long way by onboarding numerous Fortune 2000 clients, global information sharing communities (ISACs and ISAOs), National CERTs, and industry groups across its product portfolio. “Today, Cyware’s virtual cyber fusion solutions are being used by some of the world’s largest information-sharing communities with a collective member count of more than 10,000,” says Jain.
The rapid growth in the adoption of Cyware’s solutions has also expanded its global reach with a presence in four major geographical regions—South Asia, APJ, North America, and EMEA. “In India, Cyware understands the cybersecurity needs of India’s digitally transformed organisations as they evolve to more quickly counter targeted attacks,” says Jain.
All along, Cyware has sustained triple-digit business growth for the last three consecutive years with over 120% annual recurring revenue (ARR) growth in 2020, featuring multiple large enterprises, and even mid-sized companies who benefit from Cyware’s targeted solutions. The combination of innovative products, success in exceeding the client expectations, and continued expansion across various verticals have helped Cyware garner immense trust from our investors, says Jain. This enabled Cyware to raise its Series A ($10 million) and Series B ($30 million) funding within a short span of seven months during the pandemic, with a total of $43 million raised to date.
The number of organisations getting targeted by malicious cyber actors keeps growing and so does the role of Cyware’s solutions in mitigating these threats. “Cyware has an extremely positive future business outlook as more and more organisations are adopting its virtual cyber fusion solutions for threat intelligence and security automation to bolster their cyber defenses,” says Jain. “We operate in a fast-growing multi-billion dollar market, and being the industry’s only virtual cyber fusion centre provider, our growth story is only going to get stronger with time.”