🌍 Cybersecurity Innovation Pulse #6 - RSAC Inno Sandbox Finalists, GitHub Copilot X, and the Cloud Data Security Market forecasted to reach $10.5 billion by 2028
Week of Mar. 16th - Mar. 23rd
Welcome to the 6th edition of the Cybersecurity Market Pulse newsletter! I'm Darwin Salazar, keeping tabs on industry updates such as product launches, innovation, collaborations, funding, earnings, and M&A for your convenience. Subscribe for weekly insights straight to your inbox, and if you find it valuable, share it with a friend. Enjoy this week's issue!
Announcing the Intel Hub 🧠
Earlier this week, I unveiled the Intel Hub which is a central repository of over 60 recent research reports across numerous security and market domains. There you can find key data points and insights into market trends. Since then I’ve added three new reports including Red Canary’s insanely good 2023 Threat Detection report and Tripwire’s 2023 Global Automotive Cybersecurity Report. Pretty wild to know that the number of automotive API attacks grew by 380% in 2022 😅
The Innovation Intersection 🌴
RSAC Innovation Sandbox Finalists Announced
RSA Conference Innovation Sandbox 2023 ten finalists have been announced and will demo their product's capabilities to a panel of judges on Monday, April 24th in San Francisco. This year’s key themes are AI and SaaS security. Past winners include Talon, Axonius, Apiiro, and BigID. To learn more about this year's finalists, click here.
GitHub Releases Copilot X: Chat Mode & Enhanced Code Completion
GitHub's Copilot has expanded its capabilities, introducing a chat mode and improved code completion features now available in VS Code. GitHub CEO, Thomas Dohmke, mentions that while autocomplete is already a giant leap forward, this new Copilot will 10x developer productivity. For more, click here.
Cloud Data Security Market forecasted to reach $10.5B by 2028
Reportlinker.com released their report "Global Cloud Data Security Market Size, Share & Industry Trends Analysis Report By Offering, By Offering Type, By Organization Size, By Vertical, By Regional Outlook and Forecast, 2022 - 2028” which forecasts the global data security market to hit $10.5 Billion by 2028 at a Compound Annual Growth Rate (CAGR) of 15.1%.
Gartner Releases 2023 Market Guide for Cloud-Native Application Protection Platforms (CNAPP)
The 39-page report highlights the trend and customer need for security point solution consolidation covering the end-to-end spectrum from source code to runtime to detection and response. It also covers how the attack surface of cloud-native apps is rising and that attackers are increasingly targeting the software supply chain, APIs, and cloud infra.
Under Gartner’s “Strategic Planning Assumptions”, they expect 60% of enterprises to have consolidated CWPP and CSPM capabilities by 2025. By 2026, 80% of enterprises to have consolidated cloud-native app lifecycle protection to three or more solutions, down from an average of 10 in 2022.
Gartner also had some spicy takes on the current CNAPP landscape. They mentioned that few CNAPPs offer the “required breadth and depth of functionality with integration between all components across development and operations.” Lastly, they mention that customers should favor CNAPP vendors that provide a variety of runtime visibility techniques including eBPF support, snapshotting and traditional agents.
Product Releases & Enhancements
Datadog: Cloud SIEM Investigator for Google Cloud
Datadog announced the release of their Cloud SIEM Investigator for Google Cloud, which provides crucial visibility into Google Cloud environments for DevOps and security teams. Cloud SIEM Investigator leverages Google Cloud Audit Logs to help teams visualize activity in resources such as Google Cloud Storage (GCS) buckets and Google Compute Engine (GCE) instances and correlate this information with entities such as service accounts and end-user identities.
TestGPT: Beta Release of Generative AI Tool for Code Integrity
Cloudflare: Free Post-Quantum Cryptography Protection
Cloudflare is offering free post-quantum cryptography protection to customers, ensuring that their security measures are future-proof against emerging threats.
Microsoft: Multi-cloud Security Benchmark (MCSB) v1 w/ AWS Coverage
Microsoft has unveiled its new Multi-cloud Security Benchmark which includes 172 automated configuration checks for AWS environments. GCP is next. This is overall a bold move but a net positive for customers leveraging a multi-cloud approach.
ServiceNow: AI Cybersecurity Features for Now Platform
ServiceNow has extended its Now Platform with new AI-powered cybersecurity features. These enhancements will enable organizations to better protect their digital assets and proactively respond to threats.
Lightspin: Remediation Hub for Cloud Security Threats
Lightspin has launched its Remediation Hub, a solution designed to identify and fix the most pressing cloud security threats. “An evolution of Lightspin's root cause analysis feature, the Remediation Hub provides users the ability to dynamically remediate the most critical cloud environment risks.”
Google Cloud: Advanced Network DDoS Attack Protection
Google Cloud has introduced advanced network DDoS attack protection with its Cloud Armor service. This new offering will help businesses fend off distributed denial-of-service attacks more effectively.
Ping Identity: Decentralized Access Management System
Ping Identity has debuted its decentralized access management system in early access, offering a flexible and secure alternative to traditional centralized systems.
Google: Bard AI Chatbot Competitor to ChatGPT, Claude & Bing Chat
Google has released Bard, an AI chatbot competitor to ChatGPT, Claude, and Bing Chat, aiming to provide users with a powerful conversational AI experience.
ThreatHunter AI: Five Eyes Security Solution
ThreatHunter AI has advanced its security offerings with the Five Eyes solution, aimed at enhancing threat detection and response capabilities for organizations.
Dell: New Cybersecurity-centric Solutions and Services
Dell has rolled out a new suite of cybersecurity-centric solutions and services, offering protection for businesses. This includes an MDR solution and the release of the byproduct from their partnership with CrowdStrike.
The Market Beat 🥁
Aembit: $16.6M Funding for Identity Management
Aembit has raised $16.6 million in seed funding from Ballistic Ventures and Ten Eleven Ventures. The company will focus on helping DevOps and security teams manage and streamline how federated workloads authenticate and talk to each other. The founders, David Goldschlag and Kevin Sapp have already built and sold a start-up to NetSkope and another to McAfee so it’ll be fun to watch how they tackle scaling up and out.
Dope Security: $16M Funding for Secure Web Gateways
Dope Security has nabbed $16 million in funding, led by Google Ventures with Boldstart Ventures and Preface, to build out secure web gateways designed to work on endpoints rather than in the cloud. This innovative approach will offer enhanced security, privacy, and flexibility for organizations and end-users.
Oleria: $8M Seed Funding for ID Authentication Technology
Oleria has secured $8 million in seed funding from Salesforce Ventures, Tapestry VC, and several angels. The funds will be used to develop a platform that provides appropriate access to the right users, at the right time, for the right duration The company was founded by former Salesforce CISO, Jim Alkove.
Backslash: $8M Seed Financing for AppSec Tech
Backslash has raised $8 million in seed funding from StageOne Ventures, First Rays Venture Partners, and D. E. Shaw & Co to bolster its application security (AppSec) technology. The company recently unveiled a tool to visualize cloud-native code flows to help identify potential security risks.
XM Cyber Acquires XDR Company Confluera
XM Cyber, a leading cybersecurity firm, has acquired Confluera, an eXtended Detection and Response (XDR) company. With this acquisition, XM Cyber adds run-time protection for cloud workloads to its portfolio, enhancing its ability to address clients' growing security needs in the cloud environment.
Rapid7 Buys Ransomware Detection Specialist Minerva Labs for $38M
Rapid7 has acquired Minerva Labs, a ransomware detection and prevention company, for $38 million. This strategic acquisition will strengthen Rapid7's capabilities in detecting and responding to ransomware threats, further solidifying its position in the cybersecurity market.
What I’ve Been Listening To
Founder Storiez Podcast by Ephraim Yarmak 🔥 - If you’re a founder, VC, or a cybersecurity start-up enthusiast and you haven’t come across this podcast, you’re welcome. So many gems in each episode with a star-studded guest list. 10/10.
Thanks for reading this week’s issue of the Cybersecurity Market Pulse. This is a reminder to prioritize your physical and mental health, your relationships, and yourself. Life is fickle. Life is precious. Make the most of your time here and don’t ever hesitate to reach out to me if you’d like to chat. If you enjoyed this week’s issue, please share with a friend or two or three, I’d love to continue building out the CMP community! See ya next week!