United Arab Emirates. Dubai. The smart group of investors foresees immense growth potential in the cyber security space. Investors extend support for the innovative approach to Vulnerability Prioritization Technology as it is at the peak in the Extended Detection & Response Interactive Hype Cycle, Gartner 2020.
Hive Pro, creator of Predictive Vulnerability Analytics (PVA) recently closed $3 million in seed financing led by Simpra Holdings according to a statement. The Silicon Valley based, cyber security start-up offers an advanced risk-based vulnerability analytics and orchestration. It is empowered with predictive and prescriptive analytics capabilities to predict threats and attacks based on vulnerabilities and exposure and prescribe remediation to mitigate/prevent the attacks before they actually happen.
Anand Choudha, Founder and CEO, Hive Pro shared with Transcontinental Times, “The usage of big data analytics, contextualization of threat intelligence and applying of predictive and prescriptive analytics using ML has greatly helped our platform to give customer meaningful data to reduce the signal to noise ratio associated with vulnerability lifecycle orchestration.”
“We are excited with the positive traction for our platform, and now with several success stories, we are going ahead with full force to capture the market and emerge as one of the leading players in the vulnerability prioritization market,” he added.
Top challenges in Cyber security space
Speaking about the challenges in the cyber security space in the current scenario, Anand listed 3 key issues
- Alert Fatigue One of the common challenges with most Detection and Response Tools are the amount of alerts which are created and the ability or rather inability of the analysts to prioritize the alerts specific to their organization which ones to mitigate on priority, The context of threats is very specific to any organization and the lack of telemetry through a single interface makes it difficult for the analyst to focus on the most important things. Example in a vulnerability management work flow, an analyst needs to look at asset management for asset criticality, vulnerability management tool for creating a scan, a vulnerability prioritization/ TI tool to contextualize the risk of vulnerability, a ticketing system for change management and eventually a patch management for patching the vulnerability. In the process it becomes difficult to focus on delivering predictable SLA.
- Tool overload On an average an enterprise has around 42 cybersecurity tools and it becomes difficult for the team to have a consolidated threat and risk view and orchestrating action for threat mitigation across the toolsets and also the management becomes difficult. One of the core KPI CISOs would be looking is reducing and consolidating tools to make threat management simple and predictable.
- Lack of skilled resources Skill shortage is probably the biggest challenge to have the right kind of analysts who can consume the vast array of information and make it actionable to manage threats.
According to Anand, UAE is a key market for investment for Hive Pro. The focus with current set of funding is to invest globally in engineering and sales. The company has successfully rolled out its platform and has a growing customer base from various industry verticals including Banking, Finance, Telecom, Healthcare, and MSSPs among others.
Hive Pro is also preparing for the next stage of funding and expecting to announce Series A round before the end of year. The company plans to expand their footprint across Europe and Asia.