S2W Inc. raised 10M in Series B funding

The cyber security firm S2W Inc. has announced that it has raised more than $10 million of Series B funding. KDB Development Bank, YG Investment, Magellan Technology Investing, Ltte Ventures and DS Asset Management participated in this round led by LB Investment.

S2W is a cybersecurity data analysis firm and has a competitive global position to detect and react to new cyber threats like Dark Web and Ransomware. S2W has secured clients through its technology and data collaborations in the field of funding, telecoms, manufacturing and electricity trade.

In March 2020, S2W attracted a total of 3.5 million dollars for Series A and was assessed by its successful closing of Series B in just one and a half years for its high growth.

“S2W has the technology to work on the global stage and I expect them to play a huge role in the Metaverse society,” said Deok-soo Jang, chairman of DS Asset Management.

Ki-ho Park, CEO of LB Investment said, “S2W is now showing the compressed growth process of Palantir’s in the U.S. and is expected to expand into various fields such as blockchain, e-commerce, games, and entertainment in the future. And we will continue to support S2W to be the global leader in the industry.”

“We will focus on rapid growth, and we will prove to the world that companies pursuing the value of justice are superior in competitiveness and sustainability,” said Sangduk Suh, CEO of S2W.

PDI announced Leading-Edge Cybersecurity to Convenience and Fuel Retailers with Advancements to Its XDR Services

PDI, a worldwide provider of advanced software for the convenience retail and petroleum wholesale sectors has released significant advancements to its XDR services offering. The upgrades come after PDI’s acquisitions of Cybera and ControlScan, the formation of the PDI Security Solutions line of business, and the firm’s continuous integration of security aspects throughout its solution portfolio.

PDI XDR Complete is a totally managed cybersecurity solution that secures IT systems from emerging advanced threats by using extended detection and response capabilities. This agile monitoring service assists firms in detecting, preventing, and responding to cyberthreats, boosting security without using internal resources.

With the increasing number of cyberattacks, a threat to all sorts of organizations, particularly retailers with various locations and hybrid workforces, PDI is active in increasing awareness and assisting those firms in avoiding becoming another statistic. Unfortunately, recent high-profile ransomware attacks in recent months have exposed widespread flaws that can lead to greater exposure and commercial risk.

“Most organizations don’t have the internal cybersecurity resources to adequately protect their IT systems and data. With the increased threat of ransomware and other advanced cyberthreats, they’re now looking for vendors who can deliver comprehensive solutions such as PDI’s managed XDR for C-store businesses. The ability to proactively monitor, detect, and respond to threats is critical to business success,” said Chris Kissel, Research Director of Security and Trust Products at IDC.

“We’ve seen the impact ransomware can have on other C-Stores. Our focus is on keeping our stores operational 24/7. We do not have the time or IT staff to keep up with the constantly evolving cyberthreats. PDI does a fantastic job of providing the tools and expertise to protect our headquarters and 38 stores. They’re watching our backs around the clock to make sure our data and customers are safe,” Nate Morgan, IT Manager at Pride Stores. He is PDI customer for over five years.

“Faced with today’s sophisticated cyberthreats, you must be able to detect threats immediately and take action before they impact your business. State-of-the art services such as XDR Complete feature 24/7/365 monitoring and leading-edge cybersecurity tools backed by a team of expertly trained professionals. The XDR enhancements are available today as part of our comprehensive family of fully managed security services offerings,” said Mark Carl, Chief Security Officer of PDI Security Solutions.

DesktopReady introduces comprehensive DaaS solution for MSPs market

DesktopReady has officially launched its much-anticipated DaaS Solution for MSPs. As a result of the pandemic, the need for digital transformation has grown even more. Now, Virtual Desktops have become standard, safe and scalable ways to satisfy the requirement of a distributed workforce.

DesktopReady is the go-to solution for MSPs looking to take advantage of this rapidly expanding industry. MSPs launched DesktopReady, a fully managed Desktop as a Service (DaaS) for MSPs. It offers a comprehensive range of technologies and services, ranging from design implemention, migration and continuous monitoring and service support, to suit MSPs’ skill and resource requirements.

To assist their clients in the digital transformation path, MSPs have begun to navigating the pandemic and DesktopReady’s Virtual Desktop solution is a critical component of that plan. DesktopReady and Microsoft have strategically formed partnership to build on top of Azure Virtual Desktop (AVD), integrating Microsoft Azure’s scale and customization with the DesktopReady DaaS solution.

DesktopReady provides MSPs with the tools they need to deliver a Virtual Desktop solution to their customers, as well as support services that can help them launch a successful DaaS strategy.

“MSPs are the trusted advisors for their customers and as a global leader in VDI design, and implementation, we know it takes more than technology to earn that trust. DesktopReady combines technology with value-added services designed to allow MSPs to focus on their customers. With the launch of this white-label MSP DaaS Solution, we help accelerate the adoption of Microsoft Azure in SMB through MSP channels and enable modern workspaces for their clients’ distributed workforce,” says Ashish Bambroo, Chief Revenue Officer, DesktopReady.

Nozomi Networks Raises $100 Million From Its Global Ecosystem Of Customers And Technology Partners

Nozomi Networks Inc., the global leader in OT and IoT security, announced today a $100 million pre-IPO funding round to help the company accelerate its expansion and extend its market leadership. The Series-D round, led by Triangle Peak Partners, also includes investments from a large stable of equipment, security, service provider and go-to-market companies including: Forward Investments, Honeywell Ventures, In-Q-Tel, Keysight Technologies, Porsche Ventures and Telefónica Ventures. 

“As we began the fund-raising process, many of the largest ecosystem partners in the world along with our customers recognized Nozomi Networks as the industry leader and requested the opportunity to invest in the company. It’s the ultimate endorsement when not only a prestigious firm such as Triangle Peak Partners leads the investment, but customers and partners embrace Nozomi Networks and further validate our market leadership,” said Edgard Capdevielle, President and CEO of Nozomi Networks.

This latest investment will be used to help the company scale its product development activities as well as its global go-to-market strategy. Nozomi Networks will increase its sales, marketing, partner enablement activities and improve its solutions to solve emerging issues in the visibility and security markets for both operational technology (OT) and the internet of things (IoT). The demand for Nozomi Networks solutions is great with ransomware and malware attacks on enterprises and key infrastructure at an all-time high.

“With the OT and IoT security market on the verge of explosive growth, Nozomi Networks has not only risen to the top but is strongly positioned to continue to outpace the market. The company’s consistently strong performance in combination with an impressive R&D model and its ability to scale quickly set itself apart. We’re excited to be a part of Nozomi Networks’ future,” said Dain F. DeGroff, Co-founding Partner and President, Triangle Peak Partners.

Supporting Investor Quotes

“With the constant rise of cyber threats facing asset owners around the world, including critical infrastructure, customers are looking for better and more efficient ways to protect operating environments and reduce cybersecurity risk. As a partner of Nozomi Networks, we have seen first-hand the momentum it has, the value it delivers to customers and the opportunity we have for continued growth. Our investment reinforces the importance of our relationship with Nozomi Networks, and it will strengthen our ability to deliver a robust OT cybersecurity portfolio, supported by Honeywell’s global professional and managed security services,” said Que Dallara, President and CEO, Honeywell Connected Enterprise.

“Digitalization is changing and disrupting entire industries, including the automotive sector. Cybersecurity is playing a crucial and growing role for all companies and their internal processes and production facilities as cyber-attacks have become a serious threat. This investment fuels advancements in precision OT and IoT Security as Nozomi Networks’ technology ensures optimal data security and network monitoring. We are excited to strengthen our partnership with Nozomi Networks to improve the security within the supply chain of important industries,” said Stephan Baral, Head of Porsche Ventures Region US.

“We are very happy to be an investor in Nozomi. They have been a fantastic partner to work with through the course of our strategic engagement. Nozomi Networks’ use of machine learning enables them to provide advanced device identification, behavioral analysis, and anomaly detection capabilities through passive monitoring of IoT and OT networks. This level of visibility is essential for protecting critical infrastructure devices and networks. Their solution is designed to support distributed network architectures and integration with a broad range of security products, making it well suited for deployment into the challenging and diverse operating environments of the U.S. intelligence and defense communities,” said Brinda Jadeja, Senior Partner, Investments, In-Q-Tel.

“Over the course of our long-term partnership with Nozomi Networks we’ve continued to be impressed by their expertise in OT and IoT security. The joint network visibility and security solutions we have built together over the past several years are more of an operational imperative than ever, and this investment exemplifies our commitment to the industrial security market,” said Scott Westlake, Vice President Business Development, Keysight Technologies.

“Our investment in Nozomi Networks is arguably one of the most critical investments in Telefónica’s commitment to cybersecurity for the industrial environments that are facing a barrage of constantly evolving threats. Monitoring and threat detection systems are critically important in helping minimize risks and maintain operational resilience. The high-quality and highly scalable AI-based technology developed by Nozomi Networks is essential for our industrial customers. For us, Nozomi Networks is a trusted ally in this important fight,” said Guenia Gawendo, Managing Director of Telefónica Ventures.

“In line with Dubai’s visionary leadership’s drive towards building the smartest city in the world and a global leader in innovation, safety and security, our investment in Nozomi Networks showcases our commitment to a global OT security firm that targets utilities. Nozomi Networks helps clients fulfill their vision to deliver digital utilities using autonomous systems for renewable energy, storage, and expansion in artificial intelligence (AI) adoption by providing digital services. Given escalating cyber risks to ICS and control networks, advanced monitoring and threat detection systems play an increasingly critical role. It seems fitting that the ground-breaking investment for Forward Investments is with Nozomi Networks the company that pioneered and continues to innovate the way we secure the modernization of critical industrial infrastructure in the region and around the globe,” said H.E. Saeed Al Tayer, Chairman of Forward Investments.

SolCyber raised $20 Million in Series A Funding Introduces Modern MSSP

SolCyber, introduced the new modern MSSP for the mid-market, enabling firms to prevent, monitor, and respond to cybersecurity attacks with its distinctive, innovative, curated and high-fidelity security strategy. ForgePoint Capital raised a $20 million Series A round of funding for the startup. SolCyber will use this capital to expand its technological solutions, create market awareness, drive client growth, and support an ambitious hiring strategy, led by an experienced team of cybersecurity and channel professionals.

Cybersecurity and ransomware cyberattacks like Colonial Pipeline and Kaseya REvil have shown that cybercriminals don’t discriminate depending on a company’s size. Attackers use the same advanced techniques regardless of the target, making it even more difficult for mid-market companies with limited resources and finances to maintain control. Unlike competing products, SolCyber improves a company’s security posture quickly, allowing it to tackle modern threats.

“We know it is hard for mid-sized organizations to stay secure. There are thousands of security technologies and hundreds of providers. Trying to figure out how to build the right security stack is tough and time consuming. With attacks being ever more sophisticated we want to help simplify the challenge of securing an organization. We founded SolCyber to help companies significantly increase the probability of stopping attackers well before they wreak havoc. SolCyber delivers a modern and secure MSSP for the mid-market, giving organizations not only the technology but the cybersecurity expertise to dramatically increase their security posture in an incredibly easy to consume model. We are thrilled to partner with ForgePoint and look forward to our next phase of growth,” stated Scott McCrady, CEO.

In today’s dynamic environment and pervasive threat landscape, companies are very  concerned about increasing their security posture. Through decades of conversations with customers, SolCyber recognizes that companies typically look for the top five things they can do to be more secure. However, it’s extremely difficult to navigate today’s array of cybersecurity vendors for the best combined solution for their environment, especially as attackers are becoming more sophisticated. SolCyber responds to this problem by offering security solutions as part of a high-value fundamental product. It offers an MSSP offering that includes a curated technology stack with endpoints having EDR capabilities, lateral movement detection, enhanced email security, active directory and admin exploitation protection. SolCyber makes it simple for businesses to grow their security.

Don Dixon, Managing Director, ForgePoint Capital said, “We are dedicated to investing in companies that protect the digital future. Over the years we’ve spoken with hundreds of cybersecurity companies and end users. And one thing remains the same, cybersecurity for the mid-market is confusing and expensive, and today’s MSSPs are not addressing these issues. This presents a huge opportunity for SolCyber. SolCyber, which was incubated at ForgePoint, is a user-friendly, cloud based MSSP that delivers powerful cybersecurity solutions which keep companies and their employees safe from malicious activity. We are thrilled to partner with Scott McCrady, David Emerson and the entire SolCyber team as they launch the next phase of the company’s growth.”  

GroupSense and Airgap Partnership to Help Companies Defend Against Ransomware Attacks

GroupSense, a digital risk protection services company and Airgap, a cybersecurity vendor of the industry’s first agentless Ransomware Kill SwitchTM, announced a collaboration to assist clients prepare for and protect against ransomware attacks. Clients can microsegment their networks to automatically stop the spread of ransomware during the incident mitigation lifecycle and have a detailed and tested ransomware “playbook” for mitigating the damage caused by these cyberattacks by integrating GroupSense’s Ransomware Response Readiness Subscription (R3S) service offering with Airgap’s Ransomware Kill SwitchTM annual SaaS subscription.

The R3S service offering from GroupSense is supported by the company’s cyber intelligence team of ransomware professionals and includes three main features: an executive strategy session, a ransomware playbook that includes business, legal, and finance stakeholders, and 24/7 priority on call ransomware incident support with the negotiation process and cryptocurrency settlements.

Developed on Airgap’s Zero Trust Isolation platform, the Ransomware Kill Switch is a one-click switch that quickly stops all lateral data channels, lowering the attack surface to a single endpoint. Companies can also use the technology for post-exfiltration attack surface control and reporting. The partnership provides end-to-end cyber risk mitigation, placing control back in the hands of enterprise firms under attack and assisting them in reducing any negative effects on their operations.er

“Defending against and mitigating the damage from attacks has never been more critical as the ransomware epidemic continues to rage. By joining forces with GroupSense, we’re providing customers with a powerful, one-click solution for ransomware response, including the technical capability to kill the spread of ransomware instantly,” said Airgap CEO Ritesh Agrawal.

“Many companies think they’re prepared for a ransomware attack because they have a generic incident response plan, but that is just a false sense of security. Ransomware prevention needs to have a specific plan in place that includes a response playbook, so companies know exactly what protocol to follow as well as the technologies required to thwart any incoming attacks. That is why our partnership with Airgap is so important, because it combines these two key prevention areas for our customers, giving them the best protection possible against ransomware attacks.,” said Kurtis Minder, co-founder and CEO of GroupSense.

Argon announces Integrity solution, the first software supply chain security solution in the industry that prevents supply chain attacks

Argon Security announced the introduction of its patent-pending IntegrityTM technology, which enables businesses to detect and prevent software supply chain cyberattacks such as the ones that hit SolarWinds and ClickStudios. Misconfigurations, vulnerabilities, and weak dependencies in the company’s CI/CD pipeline are also eliminated, reducing supply chain risks.

Argon IntegrityTM strengthens Argon’s position as a leader in software supply chain security for the modern paradigm of DevOps-led high-velocity software development and increased trust and confidence in businesses’ software releases.

Argon’s patent-pending solution monitors the development process and prevents source-code tampering or manipulation during the software development and release process. Together with the infrastructure hardening and process security, Argon is the only solution in the market that provides holistic, multi-layered prevention of supply chain threats.

“The SolarWinds’ breach highlighted the fact that the software supply chain is a new attack vector that organizations are not currently equipped to defend against. Our solution provides full visibility into the development environment and protects our customers from bad actors who seek to tamper with their code or native behavior and uptime of their applications,” said Eilon Elhadad, CEO, Argon.

“Defending against supply chain attacks is a difficult challenge. Argon is the first solution I’ve seen that can provide broad visibility and security across your software supply chain, detect and prevent risks from misconfigurations, vulnerabilities, and supply chain attacks. This is a quantum leap forward for the defending side,” said Stephen Davis, Chief Information Security Officer at Macmillan.

Cybercriminals are taking advantage of the high complexity and low security within new modern software development environments to exploit and cause massive damage, not only to the attacked corporation, but to their thousands of clients, in this new trend of software supply chain attacks that preyed on SolarWinds, Codecov, and thousands of other companies. Most firms that generate code have implemented continuous integration and delivery (CI/CD) techniques to automate their software development during the last few years, helping them to speed up product and feature releases while maintaining a competitive edge over their markets. As a result, they’ve become a target for supply chain attacks.

“Argon’s solution enables companies to secure their software supply chain against the risks of supply chain attacks effectively. Our unique and in-depth security technology allows us to cross-check and validate actions across the pipeline and prevent damage to the company’s infrastructure, code or application from supply chain attacks. Such consolidated multi-layer coverage is not available in the market today under a single solution,” said Eran Orzel, Argon’s chief revenue and customer officer.

CYE and OTORIO partners to offer a single-pane solution to tackle the rise of industrial ransomware

CYE, the industry leader in cybersecurity optimization platforms, announced a partnership with OTORIO, a company that provides next-generation OT cyber and digital risk management solutions, to offer an integrated solution to businesses with converged IT/OT/IOT environments looking for prompt ransomware protection. This collaboration intends to assist clients in turning more stringent US government laws for critical pipeline owners and operators into practical cybersecurity plans, as well as developing practical actions to improve their cyber hygiene and overall security postures.

Ransomware cyberattacks on industrial enterprise firms and essential infrastructure have increased significantly in recent months, notably the Colonial Pipeline attack, which created fuel shortages across the East Coast of the United States for almost a month and resulted in a $4.4 million ransom payment. Other essential industries, such as water utilities, hospitals, and financial organizations, have also been impacted by these accidents. In response, the US National Security Council released a report urging cyber leaders to help protect against the threat of ransomware, emphasizing the private sector’s unique role in supporting the federal government in securing critical assets against attack, and highlighting that no company, no matter how large, is immune to attack.

One of the most significant issues facing pipeline operators today is gaining a comprehensive awareness of network assets, including those who have access to their infrastructure. CYE and OTORIO give cyber visibility across all IT, OT, and IOT environments, assessing risks, identifying exposures, and developing long-term cybersecurity best practices, based on the principle that you can’t defend what you can’t see. The solution is fully automated, making compliance and risk management much easier. Furthermore, CYE and OTORIO enable enterprises to drastically minimize risks while lowering costs by proactively identifying exposure and potential attack vectors and fixing them before they become breaches.    

“The partnership with OTORIO comes at a time when we see a significant uptick in ransomware attacks on companies providing critical services to the public. CYE  aims to alleviate the burden on companies that can’t afford operational downtime, while giving them peace of mind that they are protected against any future need to pay a heavy ransom,” said Reuven Aronashvili, CEO and founder of CYE.

“Cybercriminals have become as powerful as nation-state adversaries, posing a real threat to operational continuity,” said Daniel Bren, CEO and co-founder of OTORIO. “Building on OTORIO’s extensive experience protecting industrial and mission-critical environments, our joint solution simplifies cybersecurity for converged IT/OT/IOT environments by adopting a proactive risk-reduction approach instead of traditional intrusion detection and response methods.” 

Sophos Acquires Braintrace to enhance Adaptive Cybersecurity Ecosystem with Braintrace’s Network Detection and Response (NDR) Technology

Sophos, a worldwide leader in next-generation cybersecurity, announced the acquisition of Braintrace, which will add Braintrace’s unique Network Detection and Response (NDR) technology to Sophos’ Adaptive Cybersecurity Ecosystem. Eliminating the need for Man-in-the-Middle (MitM) decryption, Braintrace’s NDR enables comprehensive visibility into network traffic patterns, including encrypted communication. 

Braintrace’s developers, data scientists, and security analysts have joined Sophos’ global Managed Threat Response (MTR) and Rapid Response teams as part of the acquisition. With over 5,000 active clients, Sophos’ MTR and Rapid Response services market has grown quickly, making it one of the world’s largest and rapidly-growing MDR suppliers.

Through integration into the Adaptive Cybersecurity Ecosystem, which supports all Sophos products and services, Braintrace’s NDR technology will help Sophos’ MTR and Rapid Response analysts, as well as Extended Detection and Response (XDR) clients. The Braintrace technology will also be used to capture and forward third-party event data from firewalls, proxies, VPNs, and other sources. Threat identification, threat hunting, and responding to suspicious activity all will benefit from these added layers of visibility and event ingestion.

“You can’t protect what you don’t know is there, and businesses of all sizes often miscalculate their assets and attack surface, both on-premises and in the cloud. Attackers take advantage of this, often going after weakly protected assets as a means of initial access. Defenders benefit from an ‘air traffic control system’ that sees all network activity, reveals unknown and unprotected assets, and exposes evasive malware more reliably than Intrusion Protection Systems (IPS). We’re particularly excited that Braintrace built this technology specifically to provide better security outcomes to their Managed Detection and Response (MDR) customers. It’s hard to beat the effectiveness of solutions built by teams of skilled practitioners and developers to solve real world cybersecurity problems,” said Joe Levy, chief technology officer, Sophos

“NDR is critical to successful threat hunting. Braintrace’s competitive differentiation is its unique NDR technology that our MDR analysts leveraged for finding, interrupting and remediating cyberattacks. With our own NDR technology, the team responds faster and more accurately because of the real-time, automated visibility and threat verification they have into encrypted traffic. We built Braintrace’s NDR technology from the ground up for detection and now, with Sophos, it will fit into a complete system to provide cross-product detection and response across a multi-vendor ecosystem,” said Bret Laughlin, CEO and co-founder of Braintrace.

NDR technology from Braintrace is a critical component in protecting against cyberattacks today and in the future. According to Sophos research, hackers shift strategies frequently to avoid detection and carry out their operations. Braintrace’s technology detects malicious C2 traffic from malware like ColbaltStrike, BazaLoader, and TrickBot, as well as zero-day exploits, which could lead to ransomware and other attacks. This visibility allows threat hunters and analysts to anticipate any prospective ransomware attack, such as REvil and DarkSide’s recent attacks.

In the first half of 2022, Sophos plans to release Braintrace’s NDR technology for MTR and XDR.

OMNICOMMANDER introduced a Solution to Assist Credit Unions Defend Against Cyber Threats and Ransomware Attacks

OMNICOMMANDER, the industry leader in credit union marketing services with over 400 clients in 47 states, is introducing a free cybersecurity information session and live training program to assist credit unions in protecting their assets and members from hackers.

The NCUA released a press statement on April 22, 2021, alerting federally insured credit unions and financial services of rising cybersecurity vulnerabilities. Ransomware, malware, and phishing cyberattacks, denial of service, ATM skimming, identity theft, pandemic-themed attacks, and supply chain attacks are among the most common dangers to credit unions.

Eric Isham, Founder & CEO of OMNICOMMANDER said, “It was at the beginning of the pandemic that I really started to take notice of all the ransomware, security breaches, and cybersecurity issues happening in the world. As a partner to over 400 credit unions, I wanted to help our clients protect themselves from cyber-attacks, so I decided to invest into building a smart cybersecurity solution that small, mid-sized, and even larger credit unions could implement throughout their organizations.”

Human error is said to be the cause of 95% of cybersecurity breaches, according to industry research. Credit union executives will learn critical checkpoints to properly protect their assets and members from cyber threats caused by human mistakes during OMNICOMMANDER’s one-hour cybersecurity training.

Elliott Franklin, OMNICOMMANDER’s Chief Information Security Officer, will host the live training and convey the information in a straightforward manner. Franklin has designed and maintained international, multi-million-dollar security program for firms ranging from 250 to over 20,000 people for over 20 years.

“I’m excited to offer this cybersecurity training to credit unions. Not only does it fulfill the National Credit Union Administration requirements for the Rules and Regulations of Part 748, but it could help protect the assets of thousands of credit union members. After the live training, each attendee will receive a digital certificate of completion that is good for one year,” said Franklin.

On July 16, 2021, at 11 a.m. (CT), the first cybersecurity information session and live training will be delivered through Zoom. The program is intended to assist credit union staff in identifying and evaluating risks to their IT infrastructure, as well as developing plans to reduce such risks so that member data and information is protected.