CyberInt, an Israeli managed detection and response (MDR) services provider, has raised $18 million in a funding round led by technology growth capital fund Viola Growth.
The company plans to use the funding to expand globally and develop additional digital risk management, detection and response solutions, according to a prepared statement. CyberInt also intends to enhance its Argos real-time digital risk protection platform.
With Argos, organizations can use real-time threat detection to prevent fraud and cyberattacks and reduce revenue loss, CyberInt said.
Argos combines technological and human resources to help an organization identify real-time targeted attacks, data leakage and stolen credentials across its operations, CyberInt stated. The platform leverages artificial intelligence (AI) and machine learning algorithms to drive contextualized and relevant threat detection and allows an organization to access hundreds of sources. That way, Argos enables an organization to collect targeted threat data, analyze this information and receive security recommendations.
In addition, Argos scans an organization's digital footprint to produce alerts and reports for malicious activities, according to CyberInt. Once malicious activity is identified, Argos alerts and reports are disseminated automatically, and the platform may resolve malicious activity on its own.
Multiple Argos threat detection modules are available, and these include:
- Targeted threat intelligence.
- Social media monitoring.
- VIP protection.
- Brand protection.
- Vendor risk management.
- Email threat management.
Argos also can be utilized in combination with CyberInt's MDR services. Together, Argos and CyberInt's MDR services enable organizations to eliminate potential threats before they escalate, the company pointed out.
What Is CyberInt?
CyberInt provides end-to-end protection to digital businesses in the retail, e-commerce, gaming and financial industries. It offers a wide range of MDR services to customers around the globe, and these services include:
- Incident Response Team (IRT) Maturity Assessment: Enables an organization to evaluate the effectiveness of its incident detection and response capabilities.
- Security Information and Event Management (SIEM) Enhancement: Uses an organization's past security incidents and ready-made configuration settings to provide SIEM enhancements.
- Response Team: Ensures an organization can work with CyberInt's response team after a breach or targeted attack to streamline its response efforts.
- Managed Security Operations Center (SOC): Provides contextual threat intelligence and a unified SOC dashboard.
CyberInt has recorded more than 100 percent growth year over year for the last two years, according to CEO Amir Ofek. It continues to explore ways to help organizations mitigate digital risk, Ofek said, and protect their brands against rapidly evolving cyber threats.
Managed Detection and Response (MDR) Market: Growing Competition?
The MDR market is growing -- but so is competition. For instance:
- Proficio recently extended its MDR services into Australia;
- ADT has extended from the consumer home security market into the corporate MDR sector;
- eSentire CEO Kerry Bailey is working to scale that MDR provider's partner program; and
- Critical Informatics in April 2018 raised $2 million in funding to grow its MDR business.
Additional insights from Joe Panettieri.
