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SolCyber has raised $20 million in Series solcyber 20m series forgepoint capitalwiggersventurebeat A funding and will be expanding its product offerings and technology stack. Cybercrime costs the world economy over $10.5 trillion annually and this investment will help the Company expand its product offerings. Founded by Gen Ju Dao Gartner, the firm specializes in cybersecurity technology.
SolCyber raises $20 million in Series A funding
SolCyber, a managed security service provider (MSSP), has raised $20 million in a Series A round led by ForgePoint Capital. The funding will help the company extend its technology offerings, drive market awareness, and increase customer growth. Additionally, it will help the company extend its hiring strategy and expand its team. This investment will enable SolCyber to continue to build its unique approach to security.
The company, founded in 2013, is focused on protecting businesses from cyberattacks. The company’s products provide advanced email protection and employee detection capabilities, as well as threat detection tools. The company is now expanding its staff to 20 people by the end of the year. The company aims to attack the growing market for information security, which is predicted to reach $170 billion by 2022.
Solcyber 20m Series Forgepoint Capitalwiggersventurebeat
The new funding will help SolCyber continue to grow across broker networks and develop the company’s product capabilities. It will also help it better serve small and midsize companies in defending and responding to cyberattacks. SolCyber is a cyber security startup that is based in Maryland.
SolCyber’s Series A funding will help it expand its product offerings, increase brand awareness, and strengthen its staff and infrastructure. The new funding will also be used to expand its customer acquisition efforts. It will also help the company to hire more staff. This investment will help the company increase its market presence and continue developing self-healing cloud native infrastructure.
SolCyber recently raised $20 million in Series A funding led by ForgePoint Capital. The funding will enable the company to further develop its product and integrate threat intelligence capabilities. These features are essential to real-time active threat defense.
Company plans to expand product offerings
SolCyber, a managed security service provider, recently raised $20 million in series A funding from ForgePoint Capital. This funding will allow the company to further develop and market its products and services. The company is currently employing twelve people and plans to add 20 more by the end of the year. It is well positioned to compete in the growing information security market. This market is expected to surpass $170.4 billion by 2022. Cybersecurity spending is also expected to grow as a result of the ongoing pandemic, and cloud capabilities are giving the industry a strong tailwind.
The company’s funding comes at a critical time for the company. With the growing costs of cybercrime, the company needs to expand its product offerings and expand its go-to-market strategy. This funding round will allow the company to develop its cloud-based platform, increase product offerings, and extend its customer acquisition strategies.
Solcyber 20m Series Forgepoint Capitalwiggersventurebeat
The funding will help the company hire additional employees. SolCyber has already attracted an advisory board with 75 senior executives from various industries, making it a highly regarded cybersecurity venture capital firm. It has also acquired several companies, including Surefire Cyber, which focuses on assisting cyber insurers and brokers respond to cyber incidents. While the company initially plans to focus on the digital security market, its fund will also invest in companies that will help shape the future of the Internet.
SolCyber’s technology stack covers email security, endpoint protection, and Active Directory abuse protection. It also offers security operations center capabilities. It is backed by cybersecurity venture capital firm ForgePoint Capital. The company currently employs 12 employees and plans to double that number by the end of the year.
Company’s technology stack
SolCyber is a managed security service provider (MSSP). Marketed as the “first modern MSSP for the midmarket,” the company helps organizations combat cybersecurity threats by delivering a curated technology stack of enterprise-grade security solutions and services at a competitive price. The company claims to disrupt the status quo and simplify complicated systems. Its 20m series is designed to provide organizations with a scalable, comprehensive approach to cybersecurity.
SolCyber, which positions itself as the next generation MSSP, recently raised $20 million in Series A funding. The venture firm, ForgePoint Capital, is familiar with the MSSP market, having invested in Huntress, a platform for SMB MSPs. The new funding will help the company expand its technology offerings, build midmarket awareness, and drive customer growth. It plans to expand its team from 12 to 20 employees by 2021.
Solcyber 20m Series Forgepoint Capitalwiggersventurebeat
SolCyber’s 20M Series A financing will enable the company to expand its marketing efforts and improve its products. The company plans to use the money to increase security, create more product features, and upgrade its platform. It also plans to improve the customer experience by providing a unified portal view of security for its customers.
According to a survey, 80% of IT professionals believe that most companies do not have effective cybersecurity. Cybercrime is predicted to cost the world $10 trillion by 2025. The average time for an organization to detect a breach is 80 days.
Cybercrime costs $10.5 trillion annually
The cost of cybercrime is rising every year. By 2021, cybercrime will cost the global economy $6 trillion. That’s the equivalent of the world’s third largest economy. A survey by Cybersecurity Ventures estimates that cybercrime will cost the world economy 15 percent more per year by 2025 than it does today. While the cost of cybercrime is huge, there are steps businesses can take to limit their exposure.
Cybercriminals can steal intellectual property and customer information. They solcyber 20m series forgepoint capitalwiggersventurebeat can also disrupt systems, forcing companies to halt operations until they can fix the problem. The 2016 New York Times bestseller Lights Out warned that a major cyberattack could shut down the U.S. power grid. Cybercrime is a growing problem and businesses need to be prepared to deal with the consequences. One of the top threats to businesses is ransomware. This malicious software can lock down a computer system and prevent access to files until a ransom is paid.
Solcyber 20m Series Forgepoint Capitalwiggersventurebeat
Cybercrime is growing exponentially. According to Cybersecurity Ventures, cybercrime will cost the world $10.5 trillion annually by 2025. While some of the attacks are meant to hurt the victim, most are done for financial gain. This is why cybersecurity is a top priority for organizations.
While cybercrime is a major threat to businesses, it has also become a top priority for governments. The White House’s FY 2020 budget includes $17 billion for cyber operations – an increase of $790 million. But that’s just a fraction of the global cyber budget. The solcyber 20m series forgepoint capitalwiggersventurebeat cybersecurity market is predicted to grow between 12 and 15 percent per year between now and 2025, creating new jobs. Cyberinsurance will also become a major industry by 2031, with a market of $34 billion.
Cyberattacks against small businesses are increasing in frequency and costing companies billions of dollars. A recent Accenture study revealed that the average cost of a cybercrime attack costs a business over $2.6 million in 2018. The solcyber 20m series forgepoint capitalwiggersventurebeat costs of ransomware attacks soared by 21 percent from 2017 to 2018. Overall, cybercrime costs are expected to increase another 15 percent by 2025.
Partnerships
SolCyber, a managed security service provider, has raised $20 million in series A funding from ForgePoint Capital. The company plans to use the proceeds to further develop its products and expand its go-to-market efforts. The company’s products are designed to detect, prevent, and mitigate security risks in a variety of scenarios.
The company currently employs about 12 people, but plans to expand to twenty by the end of the year. SolCyber’s goal is to compete in the growing information security market, which is expected to reach $170.4 billion by 2022. The cybersecurity industry has experienced a tailwind in recent years thanks to the ongoing pandemic, while cloud capabilities are providing a new means of dematerializing barriers.
Solcyber 20m Series Forgepoint Capitalwiggersventurebeat
As a managed security service provider, SolCyber markets itself as the first modern MSSP for the midmarket, empowering organizations with enterprise-grade security solutions at affordable prices. The solcyber 20m series forgepoint capitalwiggersventurebeat company says its goal is to disrupt the status quo by simplifying complicated systems and making them more accessible to the end-user.
The company also has raised $15 million in series A funding from ForgePoint Venture Capital and Prefix Capital. The money will go toward expanding its customer base and recruiting additional employees. The company plans to use the funds to continue acquiring new customers and expanding their infrastructure. These funds will help the company to scale and continue its rapid growth in revenue.
