Home Service company Irving-Based Cysiv Sees Record Growth as Demand Grows for SOC-as-a-Service » Dallas Innovates

Irving-Based Cysiv Sees Record Growth as Demand Grows for SOC-as-a-Service » Dallas Innovates

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These days, even grandmothers sharing recipes on their PC are worried about cybercrime. Their stakes can be low – hackers have better targets than chicken pot secrets. But the leaders of Fortune 50, 500 and 1000 companies? It’s a whole different story. As cyberattacks escalate around the world, they are losing sleep fearing they are the next target and the next world title.

That’s where Irving-based Cysiv comes in. Its goal is to help these leaders get a good night’s sleep, knowing that someone is providing proactive threat detection and managed cybersecurity.

Cysiv saw record growth in 2021

Cysiv today announced that it has seen record growth in 2021 as demand for Security Operations Center (SOC) as a service continues to accelerate. The startup doubled its SOC-as-a-Service customer base and grew revenue by more than 100%, with the strongest growth in the United States, Europeand the Middle East and Africa Region.

As a result, Cysiv has been named the winner of the Tech Titans 2021 Fast Tech Award, recognizing the fastest growing technology companies in north texas. Cysiv tops the list of the other 20 north texas-technology companies with revenue growth of 1,848% over three years.

Partha Panda, CEO and co-founder of the company, told Dallas Innovates that Cysiv is “actively growing our team, both locally and globally.” His startup currently has 160 employees worldwide, with its global headquarters and staff of around 30 located in Las Colinas.

A spin-off from Trend Micro

Cysiv was launched in 2018 within Trend Micro through a partnership with HITRUST, a data protection standards development and certification organization. Since becoming an independent company, it’s made headlines, including a $26 million Series A funding round we talked about in 2020.

Cysiv is a SOC-as-a-service innovator. According to the company, it combines all the elements of a proactive, threat-seeking security operations center with a managed security stack for hybrid cloud, network, and endpoint security.

As a key differentiator, Cysiv combines its cloud-native next-gen SIEM with a data-centric approach, and offers a team of experts who operate as a “seamless extension” of a company’s own security operations center. client company.

Growing client list

The company’s client list now includes Fortune 50, 100, 500 and 1000 companies. businesses, digital health, mobile commerce, manufacturing and consumption.

“We are very proud to have been entrusted to so many companies and to operate as a seamless extension of their SecOps teams, as a true strategic security partner,” Panda said in a statement. “The rapid growth we are experiencing is validation of our unique service offering, which combines a data-centric approach, our own cloud-native next-generation SIEM platform, and a response-centric SOC model.”

Get ahead of the bad guys by quickly detecting the “real threats”

Cysiv’s most important task is to detect and respond to “real threats”, i.e. high-fidelity malicious threats that have been verified by humans, before they can lead to a breach. disruptive or harmful.

Who is behind the threats? It could be “a cybercriminal or a nation-state trying to break into their network, steal data, [or] disrupt their operations,” Panda said.

The challenge: “IT/security teams are inundated with inaccurate alerts that could be threats, but there’s not enough information to know for sure without tedious additional investigation,” Panda said. “Companies lack the technology, staff, or expertise to do this important work properly. »

In contrast, Cysiv, through its SOC-as-a-service, “quickly and systematically finds the real threats that these security teams really need to focus their time on,” Panda said. “The real threats are confirmed malicious threats, the “needles in the haystack”, that customers absolutely need to be aware of early and act on. »

Respond to threats through data, technology and people

Cysiv helps businesses respond to threats using data, technology and people.

“Security is increasingly a big data issue,” Panda said. “Cysiv excels at understanding the value of detecting different sources of data” across a customer’s IT environment and from a wide range of sources, “and then processing and enriching the data from a way that makes them quickly and fully useful to our automated threat detection process.

“We’ve developed our own SaaS security platform that automates and accelerates the process of filtering all of this data in near real-time, analyzing it, correlating it with other threat intelligence we have, and applying a range of detection techniques to identify threats that warrant human investigation,” Panda added.

But all roads lead to the people behind the platform.

“Our security and threat experts use our platform to then investigate these high-fidelity indicators to identify true threats, which they then escalate to our client’s security team to remediate,” said Panda. “Or some customers ask us to respond directly to the threat to prevent a successful data breach or attack.”

It is by bringing all this together that Cysiv helps its customers to reduce their risks.

“Our SOC-as-a-Service combines data, technology and experts to provide better detection and faster response to real threats, and we deliver it all as a subscription service,” Panda said. .

Helping businesses with cloud-first strategies

A world of data living in the cloud has brought great benefits to businesses and consumers. But it is also a breeding ground for cyber-dangers.

“The vast majority of businesses today have adopted or adopted a ‘cloud first’ strategy,” Panda said. This means that all of their apps, from Microsoft Office to Salesforce to Backoffice and many more, live in the cloud, along with the apps they build as a core service, like the SaaS platform of a fintech company.

“It is increasingly difficult to detect and respond to real threats that target these cloud applications,” Panda said. “Cysiv, as a cloud-focused company, is uniquely suited to help these companies quickly respond to the need for 24/7 security monitoring.”

Cysiv is not big on false alarms

When Cysiv tells customers there’s a problem, there’s usually a problem. The company says that in 2021, 85% of all cases passed on to customers globally turned out to be “genuine threats”. Less than 15% of Cysiv cases were false positives, according to the startup, comparing favorably to industry standards of 40-80%.

For many customers, Cysiv claims that it actually generated less than 5% false positives.

Once a real threat was detected and confirmed by the platform as a critical or high potential security incident, Cysiv says it took less than five minutes to respond, either by initiating a pre-response measure -approved, manual or programmatic on behalf of the client. , or telling the client how to deal with the threat.

Customers weigh

Cysiv offered customer quotes to back up its case:

“Cysiv is an integral extension of our team, providing us with collaborative and highly responsive 24/7 threat monitoring and security management services,” said Scott Moser, senior vice president and chief security officer. information security at Saber, the Southlake-based travel technology company.

Ja Schmidtglobal IT director for Gorillas, a food delivery company based in Berlin, Germany, said his company chose Cysiv “because we needed a security partner who shared similar DNA to ours. : bold, fast, built for growth and born in the cloud.”

“Cysiv’s approach to delivering a modern SOC as a service, combining a next-generation SIEM platform focused on data science and automation, with a strong collaborative working relationship and a predictable billing model, is refreshing and unique,” said Dagmar Ostermann-HeldDirector of Information Security for Western Reserve Hospital in Ohio.

Treat a long list of pain points

As it grows, Cysiv seeks to satisfy more customers by tackling a long list of issues, from data breaches and compliance issues, to cloud and IoT security, “alert fatigue” and the continued need to improve Sec-Ops to go further. reduce the risk.

And of course, the biggest pain point of all: the “real threat” that is just around the corner.

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