Obsidian Security raises $20 million in second funding round
Published Date | 2019 February 27
Obsidian security, US based Startup Company, gained funding of $20Millions will help in expansion of their operational setup which will fuel the US Cyber security market in upcoming periods.US: Cyber security company Obsidian Security raised $20 million in a funding round participated by Greylock Partners, Other investors in the latest round include venture capital firm Wing and GV, a venture arm of Google parent company Alphabet Inc. Obsidian Security, founded by former executives from cybersecurity firms Cylance and Carbon Black Inc. Obsidian Security will use the money for product development and to grow sales and marketing teams. Obsidian provides powerful centralized visibility and monitoring of user identities across enterprise applications. Obsidian Security launched with $9.5 million in venture capital funding by Greylock Partners in 2017 that valued the company at $27 million. Obsidian Security that have successfully adopted single sign-on and multi-factor authentication technologies are scrambling to understand and secure what employees do after they log in. According to BlueWeave Consulting, Cyber Security major function is to tackle down, Cyber-crime, which is constantly on the rise, and many smaller businesses are extremely vulnerable as a result of ineffective cyber security. Moreover, cyber security gives other services such as to Identify, Protect, Detect, Respond, and Recover. Further, Cyber Security provides many benefits such as Protect Your Business, Protects Personal Info, Allows Employees to Work Safely, Protects Productivity, Denies Spyware, Prevents Adware, provide a Consolidated Solution. Additionally, cyber security render services like Improved security of cyberspace, Increase in cyber defense, Increase in cyber speed, Protecting company data and information, Protects systems and computers against virus, worms, Malware and Spyware, Protects individual private information, Protects networks and resources and Fight against computer hackers and identity theft. Employees are on the front line of a company’s cyber defense, and their involvement is critical not only in preventing compromise but also in helping the organization respond quickly to the few inevitably successful attacks. For this reason, security-aware workforce to be one of the essential elements of a cyber-resilient organization, along with mature cyber security capabilities and security-focused technology operations. Strict data protection directives and rising cyber terrorism, need for cloud-based cyber security solutions for Small and Medium-sized Enterprises (SMEs) will be major factor for growth of cyber security industry. According to BlueWeave Consulting‘s upcoming report, Titled-“US Cyber Security Market by Security Types (Enterprises security, Network security, Application Security), by Solutions (threat management (UTM), Identity and access management (IAM), By Deployment Type (Cloud, On-premises), by Industry Vertical (BFSI, Public Sector and IT &Telecom), By Region, Size and Forecast 2018- 2025”- US Cyber Security market is expected with grow with a significant rate in forecast period, 2018-2025, owing to growing cases of data thefts, security breaches. Moreover, increased focus on preventing information in the wake of high profile data thefts and breaches, increasing the stringency of government regulations and growing cyber threats and demand for integrated cyber solutions will fuel the US cyber security market. Furthermore, the rising severity of cyber-crimes, the popularity of cloud security, rapid adoption of cloud computing, data center, and wireless communication are expected to boost the US cyber security market in the upcoming periods. According to BlueWeave Consulting‘s report, Titled-“ Europe Cyber Security Market by Security Types (Enterprises security, Network security, Application Security), by Solutions (threat management (UTM), Identity and access management (IAM), By Deployment Type (Cloud, On-premises), by Industry Vertical (BFSI, Public Sector and IT &Telecom), By Region(UK and Netherlands), Size and Forecast 2018- 2025”- The Europe Cyber Security Market is expected to grow with a significant growth rate during the forecast period 2018-2025. The key factors to grow this market are to monitor, detect, report, and counter cyber threats to maintain data confidentiality, which are becoming vulnerable day by day, because of increasing digitization give easily accessibility for example Internet.