Security & Fraud

Hyas Notches $6.2M In Series A Round Led By Microsoft’s M12

Hyas

To help identify the hackers behind cyberattacks, Hyas has notched $6.2 million in Series A funding. The round was led by Microsoft’s M12 venture fund, along with participation from venture capital firms and cybersecurity experts, VentureBeat reported.

“Their approach is wholly unique, as are the results, and customers are already responding aggressively,” M12 partner Matthew Goldstein told VentureBeat. “Widespread adoption of Comox [the company’s flagship product] and subsequent products will help take bad actors off the internet and lead to an overall decrease in cybercrime globally.”

Launched in 2015, Hyas creates cybersecurity platforms out of billions of data points. While the focus of such platforms is often to prevent and discover cyberattacks, Hyas also seeks to track threats, as well as discover the identities of those responsible for them.

The news comes a few months after a survey showed that cybersecurity is the biggest worry for companies, especially since few of them feel prepared to handle an attack. The survey, which was conducted by Microsoft and Marsh, found that when 1,300 senior executives were polled, two-thirds ranked cybersecurity among their organizations’ top five risk management priorities, with 75 percent saying that the business interruption that comes from a hack has the greatest impact on their organizations.

But while companies fear the impact of a cyberattack, only 19 percent are highly confident in their organization’s ability to prevent and respond to a hack. In fact, only 30 percent have developed a plan to respond to a cyberattack.

“Cyber risk is an escalating management priority, as the use of technology in business increases and the threat environment gets more complex,” John Drzik, president of global risk and digital at Marsh, said. “It’s time for organizations to adopt a more comprehensive approach to cyber resilience, which engages the full executive team and spans risk prevention, response, mitigation and transfer.”

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