Application of security measures and relevant mediums is now a huge topic of discussion on a global scale. Technology is impacting everything in our world. It is being embraced and applied in every walk of our life.
Even businesses are exploring the potential of technology for a new lead generation for new growth. The form of technology they are using is called digital technology. This is helping them a lot on businesses front in many ways.
- Businesses are now able to reach new customers on a global scale.
- They are fast getting new business generation opportunities.
- Their growth rate is shooting up because they are getting new customers every hour.
- Customer retention and satisfaction rate is reaching new heights every day.
What are the use cases of Cyber Security?
This is a million dollar question! Let’s take a look at the answer below:
- Businesses can reach new customers and deliver them their desired job faster like never before.
- They are now addressing customers’ concerns almost immediately through e-mails, phone calls, Live videos, 360-degree videos and social media etc.
All in all, the application of digital technology is helping businesses in many ways. Even a standard user is also reaping those benefits in some ways.
Coming to the point, every coin has its flip side too! That’s a bitter pillow of truth you’ll have to swallow!
It is because the application of digital technology has inspired criminal minds to get shaper like never before! They too are embracing digital technology to fulfill their unlawful desires. This is one of the main reasons behind the origin and growth of digital financial crimes, data theft, privacy issues businesses and their customers are facing nowadays. This is cybercrime.
Here arises another million dollar question! Is there any solution or measure to prevent cybercrime?
Yes! There is a solution to safeguard the financial interests of businesses and customers. It is called Cyber Security
What is Cyber Security?
Cyber Security is a set of technologies, processes, controls, and protocols. It is executed to prevent or reduce the risk of different types of cyber threats/cyber attacks. The application of a strong cybersecurity system acts as the spine businesses and individuals need to safeguard their systems, networks, sensitive information and technologies from cyber attacks.
In simple words, cybersecurity acts as the mechanism dedicated to preventing, detecting and providing timely and appropriate responses to cyber attacks.
Why is Cyber Security Required?
Clearly, cyber security is one of the most critical factor all 21st-century businesses and individual need. It is their requirement to safeguard their financial interests, sensitive information and to prevent data theft etc.
Facts speak volumes!
- According to the Breach Level Index (BLI) Report, cybercriminals launched more than 2 billion attacks in 2017.
- Nearly 69% of these attacks were intended to cause problems like identity and information theft.
- Application of advanced cybersecurity measures helped detect and prevent at least 85% of these attacks on time.
This is enough to prove the requirement of cybersecurity measures, tools or services etc.
You can read here about combination of AI and Blockchain
Various Elements of Cyber Security:
Since we are talking about Cyber Security, it is essential that know the various elements that help boost cybersecurity of organizations and individual. The best cybersecurity system or mechanism is a combination of factors that coordinate effectively throughout the information system or network. Let’s take a good look at the elements below:
- Application Security
- Information Security
- Network Security
- Disaster Recovery/Business Continuity Planning
- Operational Security
- End-user Education
At this crucial juncture, you need to know and understand one more critical point about cyber threats to enhance your cyber security system. The nature, type and intensity level of cyber threats change from time-to-time. Therefore, it is essential that organizations always apply cybersecurity measures that are latest and capable of dealing with them accordingly.
Types of Cyber Attacks:
Criminal minds are now sharp enough to launch cyber attacks that vary in nature and capability. Lack of education about these cyber attacks often causes organizations and individuals’ buckets full of million dollars every year.
Therefore, it essential for business owners and their customers about different types of cyber attacks usually launched by cybercriminals. For example:
It is a malicious software designed that blocks your computer system and access to files until you pay the ransom. Ransom payment doesn’t guarantee recovery of system files and system restoration.
It is a software designed to cause damage to computer systems and networks through unauthorized access.
It is the tactical execution of a harmful strategy that tricks users into revealing their sensitive information. This kind of plan is often carried out by soliciting a monetary payment or unauthorized access to your computer system or network using malware or ransomware. The purpose is to make users click on harmful links, download malware or trust some malicious source etc. to reveal their sensitive network/financial information.
Firstly, It is the execution of a strategy developed for seeding fraudulent e-mails. These e-mails often pretend to be sent out by credible companies/sources. That’s what makes phishing a cyber threat that gains the trust of users or network owners. Such a cyber attack is carried out to gain access to credit/debit/internet banking information or login information to a network of businesses.
The Consequences of Cyber Attacks:
Lack of cyber security invites cyber threats that easily cause a lot of damage to business owners and individuals. The loss suffered by the businesses includes the following:
- Financial Loss
- Loss of Assets
- Regulatory Fines-Litigation
- The Cost of Remediation
- Loss of Market Reputation
- Loss of Customers and Their Faith
Any company can deal with financial loss, loss of assets or other legal issues that come with it. But the loss of customers, market reputation and customers’ faith in the brand is irrecoverable for any business. It is an open invitation to business disaster from all sides and forever. Courtesy, cyber attacks.
The Best Five Cyber Security Companies to Invest in 2019:
Coming to the point, it is vital that you know about the best five companies to seek the best cybersecurity solutions for your business. Let’s understand them all below:
This $16.4 million early-stage venture, headquartered in New York, has its sales office in Washington, USA. Their R&D office is in Tel Aviv-Yafo, Israel. Founded 2014, Avanan is an active Series A group of 11 to 50 employees actively providing high quality cloud-based solutions dedicated to Public; SaaS-based solutions under the leadership of Gil Friedrich (CO-Founder and CEO), Roy Rotem (Co-Founder and COO), Michael Lendewe (Co-Founder and VP of BD) and Avi Zelovich (Co-founder and CTO). At least 7 firms are investors in this For Profit Company. Magma Ventures Partners, StageOne Ventures, and TPG growth are the leading investors in it.
This $50 million Late Stage Venture, headquartered in New York, United States has branches in London and Tel-Aviv (R&D Branch). Founded in 2013, this active Series C group of 50 to 100 employees under the leadership of Alon Shemesh (Chief Analyst and Co-Founder), Liron Damri (COO and Co-founder), Michael Reitblat (CEO and Co-Founder) Colin Sims (CFO) and Oren Ellenbogen (VP Engineering) is brand providing real-time, fully automated, fraud prevention solutions to merchants on digital front to ensure better experience for their customers. At least 7 companies have invested in their firm.
This $37 million active Series B Early Stage Venture, headquartered from Tel Aviv, is a group of 1010 to 250 professionals. Founded in 2015, this For-Profit company is a global leader in the domain of AI Solutions, Cyber Security, Machine learning, Network Security, and Security. The company also has offices in New York (USA), Singapore, Sydney (Australia) and Tokyo (Japan). Nvidia is their lead investor. The company is running successfully under the leadership of Eli David (Co-founder and CTO), Guy Caspi (CEO and Co-founder) and Nadav Maman (CPO and Co-founder).
Founded in 2014, this active Series A cybersecurity solution provider is in its infancy. This $10.6 million firm is a group of 11 to 50 professional working under the experienced supervision of Gadi Evron (Founder and CEO), Imri Goldberg 9Co-founder and CTO), Irene Abezga (Co-founder & VP Product). Headquartered from Paulo Alto, United States also has offices in San Francisco Area, Silicon Valley, West Coast, United States. Sherpa Capitals, Felicis Ventures, Y Combinator etc. are some of the key investors in this For-Profit cybersecurity solution provider. The company aims to work in a way that leaves hackers vulnerable to cyber threats.
This active For-Profit cybersecurity solution provider is a group of 11 to 50 professionals working under the supervision of Roy Dagan (Co-founder and CEO), Raanan Lidji (Co-founder and CTO) and Yotam Gutman (VP Marketing) since inception in 2015. First Time Venture Capital, Microsoft ScaleUp Tel Aviv ICONYC LAB are some of the principal investors in this cybersecurity solution provider worth $8.3 million.