Ex-Yahoo CIO Starts Cybersecurity Startup

Cybric, a startup that provides security in the form of continuous delivery fabric geared toward the enterprise, has raised $1.3 million in seed funding, the company said Monday (Nov. 9).

In a press release, the company said the investment was led by Petrillo Capital and also saw activity from both strategic and angel investors. Cybric said it would use the funds to boost research and development of its products.

[bctt tweet=”Cybric has raised $1.3 million in seed funding.”]

Among the company’s founders: Mike Kail, who serves as the chief innovation officer and previously was at Yahoo as that company’s CIO and senior vice president of infrastructure; CEO Ernesto DiGiambattista, formerly of Sentinel Benefits & Security; Chief Operations Officer Andrew Gilman and Chief Design Officer Sean Walter, both formerly of Actifio.

The company said its security virtualization technology is used to identify vulnerabilities and detect threats in real time, both on premise and in the cloud.

“Cybersecurity solutions today require significant human capital, which often results in productivity gaps, while the scanning and remediation processes occur serially — requiring the previous one to complete before starting the next step,” said DiGiambattista in a statement. “By automating and virtualizing the entire process offline in a shadow environment, our solution can run all scanning and remediation in parallel, offloading resources from production and allowing real-time threat identification, isolation and remediation.”

The company cited Ponemon Institute research that found that, on average, it took 256 days to spot a breach caused by a malicious attacker.  It took another 82 days to contain it, according to the research firm’s “2015 Global Cost of Data Breach Study.”

The release went on to state that “in an industry with 22 percent of all cybersecurity jobs going unfilled and 51 percent of IT and information security professionals indicating the increase in applications deployed on the network has made network security more difficult … an automated cyberthreat remediation tool in a single pane of glass that works in real time, without human resources, will play a vital role.”

To check out what else is HOT in the world of payments, click here.



Digital transformation has been forcefully accelerated, but how does that agility translate into the fight against COVID-era attacks and sophisticated identity threats? As millions embrace online everything, preserving digital trust now falls mostly on banks and FIs. Now, advances in identity data and using different weights on the payment mix afford new opportunities to arm organizations and their customers against cyberthreats. From the latest in machine learning for fraud and risk, to corporate treasury teams working in new ways with new datasets, learn from experts how digital identity, together with advances like real-time payments, combine to engender trust and enrich relationships.