US-based military cybersecurity company SimSpace Corp. said on tuesday To support the platform’s growth and expansion into new geographies, the company announced that it has secured $45 million in new equity funding led by private investment firm L2 Point Management.
Founded by experts from the U.S. Cyber Command and Massachusetts Institute of Technology’s Lincoln Laboratory, the company enables enterprises and government agencies to launch full-stack simulations of their production environments to test and train their cybersecurity readiness. We provide services to.
The company’s Cyber Force platform provides a secure environment for creating predefined and customized simulations of any cyber event or mission, including attack and event simulations. This enables testing of infrastructure, hardware, and software stacks against known attacks, and allows teams to work within a known environment for training purposes and be combat-ready without fear of data leakage. It will also be possible to conduct live-fire exercises for cyber operations.
Another advantage of this platform is that it is fully equipped. This means you can report on analysis from stress test attacks and training missions to provide continuous improvement programs to your staff and build better defensive tools. This allows businesses and government agencies to harden their systems against cyberattacks.
“For nearly a decade, SimSpace’s breakthrough technology has enabled major financial institutions and critical national infrastructure companies to withstand and recover from the most severe cyber events imaginable.” said SimSpace CEO William “Hutch” Hutchison.
by How much will a data breach report cost in 2023? A study by IBM Corp. and the Ponemon Institute found that cyberattacks cost businesses an average of $4.45 million. It is predicted that by 2024, the cost of cybercrime worldwide will reach $9.5 trillion. according to Cybersecurity ventures led by ransomware, malware, cloud exploits, social engineering, and other attack surfaces.
“The rapid increase in cyber threats has highlighted the need for boards and executives of large publicly traded companies to implement national-level cybersecurity to mitigate threats and ensure revenue growth.” said Hutchinson.
The company says that by providing data-driven performance metrics for stress testing defensive tools and team exercises, businesses and organizations have the opportunity to understand their position in responding to critical cybersecurity incidents, and security teams can It will give you what you need to stay sharp for the future. cyber attack. At the same time, companies can get ahead of the potential costs they may incur to stay ahead of the curve when paying for training and tool updates.
image: Jan Alexander/Pixabay
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