RevealSecurity, which works in application detection and response, announced a $23 million Series A funding round Tuesday (June 21), according to a press release emailed to PYMNTS.
RevealSecurity offers protection against malicious actions from various threats in enterprise applications. The new funds will help further global expansion and product development.
This all comes as business-critical functions have shifted from on-premises to Software-as-a-Service (SaaS), per the release, with the cloud allowing for more attacks on various businesses by both imposters and trusted users.
As such, there’s been a greater need for solutions that accurately monitor user activities and detect the attacks to help prevent them.
“The detection of insider threats in business processes has always been an unsolved challenge for enterprise CISOs and Risk Officers,” said Doron Hendler, CEO and co-founder of RevealSecurity. “RevealSecurity provides an insider threat solution for business processes that actually works with an unprecedented signal to noise ratio.”
The release noted that RevealSecurity’s solution looks at user journeys through various applications, including through SaaS, cloud and custom-built applications. RevealSecurity also offers a patent pending machine learning algorithm to detect suspicious activities.
The pandemic has accelerated cyber attacks, as predators have taken advantage of the rapid shift to digital. Because of that, opportunities to stop cyber attacks have cropped up — such as Microsoft announcing its buying of Miburo, a cyberthreat analysis and research company.
Microsoft plans to use Miburo’s technology to work alongside other companies in the public and private sectors, helping to find ways to stop foreign enemies from attacking public and private sector customers.
Miburo’s work involves detecting and responding to such foreign operations, and it is now part of the Customer Security and Trust organization.
The addition of the company into Microsoft’s fold will address more security issues and look into how cybercriminals are using data information to commit crimes.