Security Startup Uses Soft Touch For Better Networks

When it comes to cybersecurity, many organizations think that “Bigger is better” is a saying to live by. However, Phantom Cyber thinks a lighter touch can be more effective.

The Wall Street Journal reported that Phantom Cyber, a cybersecurity startup focused on communicative software over traditional hardware, had secured $6.5 million in funding from TechOperators and Blackstone Group LP, a current customer of Phantom Cyber’s services. In a press release, Jay Leek, chief information security officer for Blackstone, explained how Phantom Cyber makes other security products communicate more smoothly for an improved experience.

“Phantom is a force-multiplier for our security team,” Leek said. “By leveraging the platform, we are able to automate processes such as malware investigation and containment, threat indicator hunting and deployment based on threat intelligence sources, phishing investigation and regeneration of our environment in the event of a breach. Phantom delivers instant productivity gains, enabling us to respond faster, do more with our existing resources and get the most out of our security investments.”

Oliver Friedrichs, CEO of Phantom Cyber, explained how his startup’s unique take on security services automation both solves issues of redundant alerts in current security offerings and enhances those same products by automatically sending additional requests and orders triggered by network events. For example, when one company’s security suite detects a malicious attack or software, Phantom Cyber’s services send information to another suite that specializes in analyzing it, while also instructing another program to do a sweep of potentially affected devices.

“Just as automation has improved finance, marketing, human resources, software development and other aspects of IT, it is now time for security to benefit,” Friedrichs said. “Initial demand has been tremendous, and we are pleased to have the support of some of the industry’s leading minds to help us as we accelerate Phantom’s market penetration and product development.”

As more retailers move to throw their weight behind data-driven eCommerce operations, expect more services like Phantom Cyber that help networks talk to each other for the good of data security.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

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