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Fastest Growing Cybersecurity Startups Of 2020
Here are the players that are leveraging security during this vulnerability in cyberspace.
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With the recent surge in cyberattacks due to the pandemic, the dire need for cybersecurity measures is proved to be of utmost importance. India has witnessed cyberattacks in some of the big companies like Cognizant, Big Basket, etc in recent days. They were also a victim of a ransomware attack. During the lockdown, it has become easier for hackers to enter any system as the entry point has increased due to WFH. This has led to the boom in the Indian business market for cybersecurity services and product companies.
Investors are being attracted to the sector as global spending on security is expected to rise due to the pandemic. From network and data security to I.T. governance, risk measurement, cybersecurity is a growing industry. It is estimated to be worth over $300B by 2025, according to C.B. Insight's Emerging Trends Cybersecurity Report. The global information security and risk management end-user spending is forecast to grow at a five-year CAGR of 9.2% to reach $174.5 billion in 2022. According to Gartner Inc, the global information security market is forecast to grow at a five-year compound annual growth rate of 8.7% to $188.8 billion in 2023.
Here are the players that are leveraging security during this vulnerability in cyberspace:
Seconize: Seconize is a Bangalore-based cybersecurity startup offering cloud-based, AI/ML-enabled, automated security solutions to enterprises that are embracing digitization. These solutions enable enterprises to de-risk themselves in a cohesive, continuous, and consistent manner through proactive risk assessment, identification, remediation, and management across all IT assets with real-time risk posture and zero human error. Their solution automates the analysis of gaps in the regional and global regulatory and compliance requirements.
WiJungle: WiJungle is World’s first Unified Network Security Platform that enables businesses to manage and secure their entire network through a single window. It comprehensively caters to the capabilities of the Network Firewall, Web Application Firewall, Hotspot Gateway, DLP, Vulnerability Assessment, etc. and thus not only eradicates the need to have several standalone security products but also reduces the capital investment of an organization by up to 60 percent & simplifies the day-day management along with scalability challenges. Wijungle is the world’s first all-in-one appliance that eradicates the need to have several standalone security products like Network Firewall, Guest Management Solutions, Web Application Firewall, Routers, Proxy Servers, etc.
Lucideus: Lucideus was incubated in IIT Bombay. It has developed a Cyber Risk Quantification platform SAFE (Security Assessment Framework for Enterprises) which is used by enterprises globally. This platform helps enterprises measure and mitigate cyber risks objectively in real-time and tells an organization the likelihood of breaches that can occur in the next 12 months. Lucideus has also made its brand name internationally.
HaltDos: Noida-based HaltDos is an IT security company providing AI-based network and application security solutions both on-premise and on-cloud. HaltDos claims to be World's first Integrated WAF & DDoS mitigation solution that 'Detects, Mitigates & Monitors' network/Application on a continuous basis to protect from DDoS & Web Application attacks.HaltDos offers total DDoS and WAF security with an On-Premise DDoS mitigation appliance as well as with the DDoS protection over the cloud which provides enterprise-class Layer 3 to Layer 7 always-on DDoS mitigation that minimizes application downtime and latency.