SolCyber just lately raised $20 million in a Series A investment round led by ForgePoint Capital. The corporate is a managed safety providers startup and Scott McCrady is the CEO.
The recent capital will probably be used to boost services, additionally increasing market entry. As a result of rising demand for cybersecurity solutions in right this moment’s world SolCyber is nicely positioned to develop.
SolCyber at the moment has 12 staff. Nonetheless, later this 12 months, the startup plans to increase its workforce to twenty folks and search for new alternatives within the info safety market which is anticipated to exceed $170.4 billion by the tip of subsequent 12 months.
Final 12 months, there was a major variety of cyberattacks and breaches worldwide. In response to trade sources, practically 80% of senior IT workers and leaders imagine that regardless of strengthening IT safety, their firms are nonetheless weak to cyber assaults.
At the moment, it takes us round 80 days to determine and cease violations. It’s thought that by 2025, these breaches will trigger losses of an estimated $10.5 trillion yearly.
SolCyber is counting on conversations with finish customers to give attention to constructing complete safety for patrons. The corporate’s present precedence is buyer acquisition. With a handful of consumers in beta, the startup expects to hit a thousand finish customers by the center of subsequent month.
One standout product that SolCyber presents is a expertise stack. It consists of an endpoint with in depth detection and response capabilities, e-mail safety, Energetic Listing abuse safety, and admin exploit prevention.
Moreover, SolCyber gives different providers corresponding to safety coaching and fraud officers, safety operations heart capabilities to offer correlations, and extra. SolCyber is approaching the area in a different way, and all of this may fall below one pricing mannequin.
One of many largest considerations of consumers is ‘what to do to enhance safety’. One reply to this query consists of shopping for cyber insurance coverage. By delivering security-enhancing expertise and providers rapidly, SolCyber could discover a area of interest in a rising market.