Cloud Network Security Company Launches
A cloud network security company started Tuesday. ProtectWise, with employees who used to work at IBM and McAfee, said it differs in that it deploys a virtual camera in the cloud to deliver “unlimited retention” of network data, which can…
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be analyzed years later to “uncover threats that were previously unknown using the latest intelligence.” It allows a replay to detect threats or breaches as intelligence is updated, said CEO Scott Chasin in an interview last week. It’s a “time machine for threat detection,” he said. The average time between a breach occurring and being detected is about 205 days, the company said in a news release Tuesday. “The era of prevention is coming to a close, and visibility and detection are now more important than ever for all organizations to focus on,” the company said. The camera in the cloud “passively records” everything it sees, but companies can control what data is shared and analyzed, said Chief Technology Officer Gene Stevens. If a customer discovers an attack, ProtectWise automatically will look for similar breaches in real time and retrospectively, he said. The firm recognizes that “companies are suffering from alarm fatigue,” Stevens said, pointing to a 2015 Ponemon Institute survey saying the average enterprise receives almost 17,000 malware alerts weekly. Of those, 19 percent are reliable and 4 percent are investigated. ProtectWise has received more than $17 million in financing from Arsenal Venture Partners, Crosslink Capital, Paladin Capital Group and Trinity Ventures. The company has “more than a dozen” clients in industries such as technology, financial services, healthcare, and media and entertainment, including Universal Music Group, the company said in a news release Tuesday.