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SquareX reels in $6M for its browser security platform

May 11, 2023/in Internet Security

Cybersecurity startup SquareX today announced that it has closed a $6 million seed funding round led by Sequoia Capital Southeast Asia.

The capital will go toward product development and go-to-market initiatives, the Singapore-based startup detailed. The investment comes a few weeks after SquareX made its namesake cybersecurity platform available to an initial group of users. Going forward, the startup reportedly plans to focus on growing its market presence in the U.S., Asia and the U.K.

SquareX’s platform is designed to protect consumers from online threats such as malicious websites. It blocks hacking attempts using a browser extension that runs locally on consumers’ devices. According to the startup, its technology can replace traditional cybersecurity products such as antivirus programs.

A browser equipped with SquareX’s extension doesn’t render web pages locally, but rather in cloud-based sandboxes the startup describes as disposable browsers. Because webpages are processed in the cloud, their code is not downloaded onto users’ computers. This makes it impossible for any malware that may embedded in the code to reach consumer devices.

According to SquareX, its platform can similarly block malicious documents and other malware-infected files. When users end a browsing session, the cloud-based sandbox that SquareX generated for the session is deleted along with all its data.

The startup’s sandboxes render web pages using a so-called headless browser. That’s a type of specialized browser implemented without a user interface. Such programs are mainly used by developers to test websites for technical issues.

According to SquareX, its platform is designed as a more convenient alternative to traditional antivirus products. Such products’ threat detection algorithms sometimes incorrectly flag legitimate web pages and files as malicious. Because SquareX relies on cloud sandboxes rather than threat detection algorithms to flag malware, it doesn’t inadvertently block legitimate files.

The company sells its platform under a freemium pricing model. According to the startup, consumers can use the platform for up to one hour per day at no charge. For users…

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Halcyon Secures $50M Funding for Anti-Ransomware Protection Platform

April 21, 2023/in Internet Security

Halcyon, a Texas startup building an AI-powered anti-ransomware engine to help organizations ward off data-extortion attacks, has snagged $50 million in financing from prominent venture capital investors.

The company said the $50 million Series A was led by SYN Ventures, an investment firm that makes early-stage bets on cybersecurity companies. Halcyon also took on equity investments from Dell Technologies Capital and Corner Capital.

The new financing provides a runway for Halcyon to speed up development and adoption of what it is calling a “cyber resilience platform” designed to defeat ransomware and extortion campaigns, according to co-founder and chief executive Jon Miller.

Using a lightweight agent that combines prevention engines with AI models trained solely on ransomware, Halcyon is marketing a platform promising a multi-tiered approach to defeat ransomware.

The layered components include pre-execution ransomware prevention, a feature that uses AI/ML engines to detect and block any known bad executables like off-the-shelf commodity ransomware and passes unknown but suspicious executables to the additional protection layers for further analysis.

Halcyon has also fitted features to trick ransomware into aborting or revealing the attack by exploiting features hardcoded in the ransomware itself.

“We engineered Halcyon to embrace failure as a core concept of protection. Stopping ransomware requires multiple prevention and detection techniques, all trained extensively on years of actual ransomware attacks,” Miller said.

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Phosphorus Showcases Game-Changing Enterprise xIoT Security Management Platform at RSAC 2023

April 11, 2023/in Internet Security

The world leader in xIoT breach prevention is also unveiling the industry’s first Intelligent Active Discovery (IAD) solution that safely and accurately discovers and assesses all IoT, OT, IoMT, and IIoT devices.

NASHVILLE, Tenn., April 11, 2023 (GLOBE NEWSWIRE) — Phosphorus, the leading provider of proactive and full-scope breach prevention for the xTended Internet of Things (xIoT), is bringing cyber-physical security innovation to RSAC 2023 with its groundbreaking Enterprise xIoT Security Management Platform and the industry’s first and only Intelligent Active Discovery (IAD) solution for IoT, OT, IoMT, and IIoT devices. Phosphorus is also a proud supporting sponsor of IoT Village in the RSAC Sandbox and will be hosting several interactive hacking and security demonstrations of vulnerable xIoT devices throughout the conference.

After more than six years of research spanning millions of production devices, Phosphorus has determined that 68% of xIoT devices have high-risk or critical CVEs, device firmware is on average six years old, and password compliance is at a dismal 1%. These problems are exacerbated by the lack of effective industry solutions, as traditional tools and approaches developed for IT systems are unable to directly communicate with xIoT devices in order to safely and effectively discover, assess, and remediate them. Most also cannot provide continuous drift monitoring and detection and response capabilities.

This is one of the reasons why Phosphorus has found that 80% of corporate security teams cannot identify the majority of their xIoT devices – let alone secure them.

“xIoT is an enormous attack surface that grows bigger every year and these risks are not properly addressed with traditional security solutions, which are IT-centric and lack the capability to safely and effectively interact with xIoT devices,” said John Vecchi, Chief Marketing Officer of Phosphorus. “Attackers are constantly evolving their tactics and Cyber-Physical Systems are the next big target. Enterprises and organizations are now clamoring for best-of-breed, prevention-based platforms that can accurately and safely discover, assess, remediate, monitor,…

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Opti9 Launches Standalone Ransomware Detection Platform and Managed Services for Veeam Solutions

March 24, 2023/in Internet Security

The MarketWatch News Department was not involved in the creation of this content.

Opti9 Launches Standalone Ransomware Detection Platform and Managed Services for Veeam Solutions

Mar 23, 2023 (PRNewswire via COMTEX) —
PR Newswire

GARDEN CITY, N.Y., March 23, 2023

GARDEN CITY, N.Y., March 23, 2023 /PRNewswire/ — Opti9 Technologies, LLC. (Opti9), a trusted North American managed cloud services provider, announces Observr Software-as-a-Service (SaaS) ransomware detection and standalone managed services – two new standalone service offerings that cater to organizations leveraging Veeam^® Software, the leader in Modern Data Protection. Opti9 is a Platinum Veeam Cloud & Services Provider (VCSP) partner and a Veeam Technical Alliance Partner (TAP).

Opti9 launches Observr ransomware detection and managed services for Veeam.

As the complexity of organizations’ IT continues to evolve, technical leaders are increasingly looking to shift ownership to 3^rd party experts for critical layers of their stack. This is especially true for components such as backups and disaster recovery, which must provide resilience despite constant changes such as the shift to hybrid clouds and SaaS, application modernization, use of software-defined networking, and the increased risks associated with ransomware and data theft. To address these needs, many organizations turn to managed service providers to consume backups or disaster recovery-as-a-service (BaaS/DRaaS). However, the rigidity and isolated nature of most of these offerings do not address the complexity or risks faced today. Organizations are looking to decouple value-added managed services, as well as critical security monitoring from infrastructure services. Today, Opti9 introduces its standalone offerings for Veeam, which are completely independent of its BaaS and DRaaS services: managed services for Veeam Software and its AI-based ransomware detection and remediation tool, Observr.

“Opti9 has leveraged Veeam’s feature rich API in an innovative and unique way to address the very real security challenges being faced by IT organizations,” says Danny Allan, Chief Technology Officer at Veeam. “Observr…

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