Top 10 Cybersecurity Companies To Watch In 2019
- Gartner predicts worldwide spending on information security products and services will reach $124B in 2019, growing 8.7% over the $114B invested in 2018.
- Cloud Security platform and application sales are projected to grow at a 35.3% Compound Annual Growth Rate (CAGR) between 2017 to 2019, becoming a $459M market this year.
- Security Services is projected to be a $64.2B market this year, increasing from $52.3B in 2017, attaining a CAGR of 7.08%.
- Privileged Access Management (PAM) is the highest priority security initiative for CIOs in 2019.
Today’s Threatscape Has Made “Trust But Verify” Obsolete
The threatscape every business operates in today is proving the old model of “trust but verify” obsolete and in need of a complete overhaul. To compete and grow in the increasingly complex and lethal threatscape of today, businesses need more adaptive, contextually intelligent security solutions based on the Zero Trust Security framework. Zero Trust takes a “never trust, always verify, enforce least privilege” approach to privileged access, from inside or outside the network. John Kindervag was the first to see how urgent the need was for enterprises to change their approach to cybersecurity, so he created the Zero Trust Security framework in 2010 while at Forrester. Chase Cunningham, Principal Analyst at Forrester, is a mentor to many worldwide wanting to expand their knowledge of Zero Trust and frequently speaks and writes on the topic. If you are interested in cybersecurity in general and Zero Trust specifically, be sure to follow his blog.
AI and machine learning applied to cybersecurity’s most significant challenges is creating a proliferation of commercially successful, innovative platforms. The size and scale of deals in cybersecurity continue to accelerate with BlackBerry’s acquisition of Cylance for $1.4B in cash closing in February of this year being the largest. TD Ameritrade’s annual survey of registered investment advisors (RIA) showed nearly a 6X jump in cybersecurity investments this year compared to 2018.
The top ten cybersecurity companies reflect the speed and scale of innovation happening today that are driving the highest levels of investment this industry has ever seen. The following are the top ten cybersecurity companies to watch in 2019:
Absolute (ABT.TO) – One of the world’s leading commercial enterprise security solutions, serving as the industry benchmark for endpoint resilience, visibility, and control. The company enables more than 12,000 customers with self-healing endpoint security, always-connected visibility into their devices, data, users, and applications whether endpoints are on or off the network, and the ultimate level of control and confidence required for the modern enterprise. Embedded in over one billion endpoint devices, Absolute delivers intelligence and real-time remediation capabilities that equip enterprises to stop data breaches at the source.
To thwart attackers, organizations continue to layer on security controls — Gartner estimates that more than $124B will be spent on security in 2019 alone. Absolute’s 2019 Endpoint Security Trends Report finds that much of that spend is in vain, however, revealing that 70% of all breaches still originate on the endpoint. The problem is complexity at the endpoint – it causes security agents to fail invariably, reliably, and predictably.
Absolute’s research found that 42% of all endpoints are unprotected at any given time, and 100% of endpoint security tools eventually fail. As a result, IT leaders see a negative ROI on their security spend. What makes Absolute one of the top 10 security companies to watch in 2019 is their purpose-driven design to mitigate this universal law of security decay.
Enterprises rely on Absolute to cut through the complexity to identify failures, model control options, and refocus security intent. Rather than perpetuating organizations’ false sense of security, Absolute enables uncompromised endpoint persistence, builds resilience and delivers the intelligence needed to ensure security agents, applications, and controls continue functioning and deliver value as intended. Absolute has proven very effective in validating safeguards, fortifying endpoints, and stopping data security compliance failures. The following is an example of the Absolute platform at work:
BlackBerry Artifical Intelligence and Predictive Security – BlackBerry is noteworthy for how quickly they are reinventing themselves into an enterprise-ready cybersecurity company independent of the Cylance acquisition. Paying $1.4B in cash for Cylance brings much-needed AI and machine learning expertise to their platform portfolio, an acquisition that BlackBerry is moving quickly to integrate into their product and service strategies. BlackBerry Cylance uses AI and machine learning to protect the entire attack surface of an enterprise with automated threat prevention, detection, and response capabilities. Cylance is also the first company to apply artificial intelligence, algorithmic science, and machine learning to cyber security and improve the way companies, governments, and end users proactively solve the world’s most challenging security problems. Using a breakthrough mathematical process, BlackBerry Cylance quickly and accurately identifies what is safe and what is a threat, not just what is in a blacklist or whitelist. By coupling sophisticated math and machine learning with a unique understanding of a hacker’s mentality, BlackBerry Cylance provides the technology and services to be truly predictive and preventive against advanced threats. The following screen from CylancePROTECT provides an executive summary of CylancePROTECT usage, from the number of zones and devices to the percentage of devices covered by Auto-Quarantine and Memory Protection, Threat Events, Memory Violations, Agent Versions, and Offline Days for devices.
Centrify – Centrify is redefining the legacy approach to Privileged Access Management by delivering cloud-ready Zero Trust Privilege to secure modern enterprise attack surfaces. Centrify Zero Trust Privilege helps customers grant least privilege access based on verifying who is requesting access, the context of the request, and the risk of the access environment. Industry research firm Gartner predicted Privileged Access Management (PAM) to be the second-fastest growing segment for information security and risk management spending worldwide in 2019 in their recent Forecast Analysis: Information Security and Risk Management, Worldwide, 3Q18 Update (client access required). By implementing least privilege access, Centrify minimizes the attack surface, improves audit and compliance visibility, and reduces risk, complexity, and costs for the modern, hybrid enterprise. Over half of the Fortune 100, the world’s largest financial institutions, intelligence agencies, and critical infrastructure companies, all trust Centrify to stop the leading cause of breaches – privileged credential abuse. PAM was also named a Top 10 security project for 2019 in Gartner’s Top 10 Security Projects for 2019 (client access required).
CloudFlare – Cloudflare is a web performance and security company that provides online services to protect and accelerate websites online. Its online platforms include Cloudflare CDN that distributes content around the world to speed up websites, Cloudflare Optimizer that enables web pages with ad servers and third-party widgets to download Snappy software on mobiles and computers, CloudFlare Security that protects websites from a range of online threats including spam, SQL injection, and DDOS, Cloudflare Analytics that gives insight into website’s traffic including threats and search engine crawlers, Keyless SSL that allows organizations to keep secure sockets layer (SSL) keys private, and Cloudflare applications that help its users install web applications on their websites.
CrowdStrike – Applying machine learning to endpoint detection of IT network threats is how CrowdStrike is differentiating itself in the rapidly growing cybersecurity market today. It’s also one of the top 25 machine learning startups to watch in 2019. Crowdstrike is credited with uncovering Russian hackers inside the servers of the US Democratic National Committee. The company’s IPO was last Tuesday night, with an initial $34/per share price. Their IPO generated $610M at a valuation at one point reaching nearly $7B. Their Falcon platform stops breaches by detecting all attacks types, even malware-free intrusions, providing five-second visibility across all current and past endpoint activity while reducing cost and complexity for customers. CrowdStrike’s Threat Graph provides real-time analysis of data from endpoint events across the global crowdsourcing community, allowing detection and prevention of attacks based on patented behavioral pattern recognition technology.
Hunters.AI – Hunters.AI excels at autonomous threat hunting by capitalizing on its autonomous system that connects to multiple channels within an organization and detects the signs of potential cyber-attacks. They are one of the top 25 machine learning startups to watch in 2019. What makes this startup one of the top ten cybersecurity companies to watch in 2019 is their innovative approach to creating AI- and machine learning-based algorithms that continually learn from an enterprise’s existing security data. Hunters.AI generates and delivers visualized attack stories allowing organizations to more quickly and effectively identify, understand, and respond to attacks. Early customers, including Snowflake Computing, whose VP of Security recently said, “Hunters.AI identified the attack in minutes. In my 20 years in security, I have not seen anything as effective, fast, and with high fidelity as what Hunters can do.” The following is a graphic overview of how their system works:
Idaptive – Idaptive is noteworthy for the Zero Trust approach they are taking to protecting organizations across every threat surface they rely on operate their businesses dally. Idaptive secures access to applications and endpoints by verifying every user, validating their devices, and intelligently limiting their access. Their product and services strategy reflects a “never trust, always verify, enforce least privilege” approach to privileged access, from inside or outside the network. The Idaptive Next-Gen Access platform combines single single-on (SSO), adaptive multifactor authentication (MFA), enterprise mobility management (EMM) and user behavior analytics (UBA). They have over 2,000 organizations using their platform today. Idaptive was spun out from Centrify on January 1st of this year.
Kount – Kount has successfully differentiated itself in an increasingly crowded cybersecurity marketplace by providing fraud management, identity verification and online authentication technologies that enable digital businesses, online merchants and payment service providers to identify and thwart a wide spectrum of threats in real-time. Kount has been able to show through customer references that their customers can approve more orders, uncover new revenue streams, and dramatically improve their bottom line all while minimizing fraud management cost and losses. Through Kount’s global network and proprietary technologies in AI and machine learning, combined with policy and rules management, their customers thwart online criminals and bad actors driving them away from their site, their marketplace and off their network. Kount’s continuously adaptive platform learns of new threats and continuously updates risk scores to further thwart breach and fraud attempts. Kount’s advances in both proprietary techniques and patented technology include: Superior mobile fraud detection, Advanced artificial intelligence, Multi-layer device fingerprinting, IP proxy detection and geo-location, Transaction and custom scoring, Global order linking, Business intelligence reporting, Comprehensive order management, Professional and managed services. Kount protects over 6,500 brands today.
MobileIron – The acknowledged leader in Mobile Device Management software, MobileIron’s latest series of developments make them noteworthy and one of the top ten cybersecurity companies to watch in 2019. MobileIron was the first to deliver key innovations such as multi-OS mobile device management (MDM), mobile application management (MAM), and BYOD privacy controls. Last month MobileIron introduced zero sign-on (ZSO), built on the company’s unified endpoint management (UEM) platform and powered by the MobileIron Access solution. “By making mobile devices your identity, we create a world free from the constant pains of password recovery and the threat of data breaches due to easily compromised credentials,” wrote Simon Biddiscombe, MobileIron’s President and Chief Executive Officer in his recent blog post, Single sign-on is still one sign-on too many. Simon’s latest post, MobileIron: We’re making history by making passwords history, provides the company’s vision going forward with ZSO. Zero sign-on eliminates passwords as the primary method for user authentication, unlike single sign-on, which still requires at least one username and password. MobileIron paved the way for a zero sign-on enterprise with its Access product in 2017, which enabled zero sign-on to cloud services on managed devices. Enterprise security teams no longer have to trade off security for better user experience, thanks to the MobileIron Zero Sign-On.
Sumo Logic – Sumo Logic is a fascinating cybersecurity company to track because it shows the ability to take on large-scale enterprise security challenges and turn them into a competitive advantage. An example of this is how quickly the company achieved FedRAMP Ready Designation, getting listed in the FedRAMP Marketplace. Sumo Logic is a secure, cloud-native, machine data analytics service, delivering real-time, continuous intelligence from structured, semi-structured, and unstructured data across the entire application lifecycle and stack. More than 2,000 customers around the globe rely on Sumo Logic for the analytics and insights to build, run, and secure their modern applications and cloud infrastructures. With Sumo Logic, customers gain a multi-tenant, service-model advantage to accelerate their shift to continuous innovation, increasing competitive advantage, business value, and growth. Founded in 2010, Sumo Logic is a privately held company based in Redwood City, Calif. and is backed by Accel Partners, Battery Ventures, DFJ, Franklin Templeton, Greylock Partners, IVP, Sapphire Ventures, Sequoia Capital, Sutter Hill Ventures and Tiger Global Management.
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