Every week, it seems like another cyber attack is exposed, sending retailers into damage control and annoying customers who have to cancel their payment cards and set up a new one. The Federal Bureau of Investigation has gone so far as to create an entirely new branch of operations aimed squarely at fighting cybercrime.
Cyber theft is somewhat of an epidemic, meaning the innovators that can detect, prevent or solve these crimes are in high demand. One of these innovators is the startup Cybereason, an Israel-based firm that revealed Wednesday (May 6) the closing of a Series B fundraising round.
Cybereason raised $25 million from the round, which was led by Spark Capital, with participation by CRV and Lockheed Martin, reports said. The company will use the funds to expand its existing Research and Development and Sales and Marketing teams.
The company, which launched its platform in 2014, provides continual surveillance of activities to detect a cyberthreat more quickly, reports said, and offers users a real-time report into a potential attack as it occurs. The tool includes a Malop Hunting Engine, a technology utilizing Big Data and machine learning to analyze 8 million events every single second, according to Cybereason. If an attack is detected, the malware used, root cause, timeline, and any communication to and from the endpoint are recorded.
Lockheed Martin, a current business customer of Cybereason as well as financial backer, also revealed that it plans to integrate the startup’s Detection and Response Platform into its existing security services.
“The Cybereason platform is an outstanding complement to the tradecraft and technologies Lockheed Martin uses every day to defend our network and our clients,” Lockheed Martin’s Director of Commercial Cyber Services Rich Mahler said in a statement, highlighting Cybereason’s real-time detection and tracing services as tools applicable to both commercial and government customers. The firm said it will integrate the Cybereason platform into its existing 120,000 internal endpoints and servers.