Content by Michael Novinson

Blackpoint Gets $190M From Bain Capital to Boost MSP Defense

Michael Novinson  •  June 8, 2023

Bain Capital led a $190 million investment into a managed detection and response provider founded by a former National Security Agency computer operations expert. The money will support development of Blackpoint's security technology and enable its MSP partners to combat a changing threat landscape.

Dragos Lays Off 9% of Workers as OT Security Spending Slows

Michael Novinson  •  June 7, 2023

Dragos has axed 50 workers after longer sales cycles and smaller initial deployment sizes caused the industrial cybersecurity vendor to miss its first quarter revenue target. Dragos revealed plans to reduce its staff by 9% to ensure the company can stay independent through an IPO or Series E round.

Snyk to Acquire App Security Posture Management Startup Enso

Michael Novinson  •  June 7, 2023

Snyk plans to purchase an Israeli startup founded by members of Wix's application security team and backed by CyberArk to help organizations govern developer security. The developer security vendor said its proposed buy of Enso Security will give clients a view of their application security posture.

Cisco Doubles Down on Generative AI, SSE, Cloud App Security

Michael Novinson  •  June 6, 2023

Cisco took its first major step toward realizing its secure cloud vision in April with the debut of a new extended detection and response platform. The next set of enhancements around generative AI, secure access and defending applications across multiple clouds debuted Tuesday at Cisco Live 2023.

Why Rubrik Is Looking to Break Cybersecurity's IPO Dry Spell

Michael Novinson  •  June 5, 2023

Despite the beating new publicly traded security companies have taken during the economic downturn, Rubrik is looking to test its luck in the public market. Reuters reported Monday the firm is working with Goldman Sachs, Barclays and Citigroup in preparation for an IPO that could take place in 2024.

Hackers Using MOVEit Flaw to Deploy Web Shells, Steal Data

Michael Novinson  •  June 2, 2023

Adversaries have taken advantage of a zero-day vulnerability in Progress Software's managed file transfer product to deploy web shells and steal data, Mandiant found. An unknown threat actor began exploiting the critical SQL injection vulnerability in MOVEit Transfer on May 27.

SentinelOne Lays Off 5% of Staff as Data Consumption Tumbles

Michael Novinson  •  June 1, 2023

SentinelOne plans to ax approximately 105 workers after a significant drop in data usage for products with consumption-based pricing caused revenue to fall short of expectations. The company revealed plans to reduce its staff by 5% to remain on track with achieving non-GAAP profitability next year.

Hackers Exploit Progress MOVEit File Transfer Vulnerability

Michael Novinson  •  June 1, 2023

Hackers have exploited a critical zero-day vulnerability in Progress Software's managed file transfer offering in several customer environments. Progress warned of a critical SQL injection vulnerability in MOVEit Transfer that allows for "escalated privileges and potential unauthorized access."

Cisco Buys Armorblox to Bring Generative AI to Its Portfolio

Michael Novinson  •  May 31, 2023

Cisco plans to make its third tuck-in cybersecurity acquisition of 2023 to protect email, cloud office applications and enterprise communications through natural language understanding. Cisco will take advantage of Armorblox's predictive and generative AI to help customers bolster their security.

Cisco's New XDR Tool Emphasizes Robust Telemetry Correlation

Michael Novinson  •  May 31, 2023

Cisco Security Executive Vice President and General Manager Jeetu Patel said the industry struggles to address multifaceted attacks that originate in email and include bad links, malware downloads to a device and more. Cyber defenders need correlated data from multiple sources of telemetry, he said.

Synopsys Extends Lead in Gartner MQ for App Security Testing

Michael Novinson  •  May 30, 2023

Synopsys stands head and shoulders above the competition in Gartner's application security testing rankings, with Snyk rising and HCL Software falling from the leaders category. Longtime app security players Veracode, Checkmarx and OpenText joined Synopsys and Snyk atop the Gartner Magic Quadrant.

Expel, CrowdStrike, Red Canary Dominate MDR Forrester Wave

Michael Novinson  •  May 26, 2023

Expel, CrowdStrike and Red Canary held steady atop Forrester's MDR rankings, while Secureworks and Binary Defense tumbled from the leaders category. Providers have turned their attention from maximizing their efficacy at detecting ransomware to finding faster and better ways to respond to attacks.

New Russian OT Malware Could Wreak Havoc on Electric Systems

Michael Novinson  •  May 25, 2023

A new strain of Russian operational technology malware could cause electric power disruption in Europe, the Middle East and Asia, Mandiant found. The malware wreaks havoc by interacting with devices such as remote terminal units that are used for electric transmission and distribution operations.

Why Cyber Seed Funding Has Blossomed in the Economic Drought

Michael Novinson  •  May 24, 2023

Seed funding for Israeli cybersecurity startups has blossomed despite the economic downturn, and both deal volume and size have strengthened in 2022 as compared to 2021. The indefinite closing of the initial public offering market in spring 2022 caused late-stage investment to fall off a cliff.

Profiles in Leadership: Michael D'Ambrosio

Michael Novinson  •  May 24, 2023

Organizations lack visibility into their network and assets to fully understand their threat and risk exposure, said Liberty Strategic Capital's Michael D'Ambrosio. The trend of accessing corporate networks from remote locations has made it tough for businesses to know what's on their network.