Siemens‘ venture capital unit has made an undisclosed investment in CyberFlow Analytics. Based in San Diego, CyberFlow is a provider of cybersecurity solutions.
San Diego, CA (PRWEB) May 27, 2015
CyberFlow Analytics, an emerging leader in in the Cyber Security market with its Security Behavior Analytics solution, today announced a new strategic partnership with Siemens as well as an investment from the Venture Capital Unit of Siemens. This is the second strategic partnership and investment deal that CyberFlow Analytics has closed in the last 12 months after previously closing a similar deal with Toshiba.
CyberFlow Analytics has spent years developing its flagship product FlowScape™ that enables Global 2000 companies and government organizations to better detect cyber threats, risks, and advanced persistent threats from inside the network uniquely using machine learning and advanced analytics.
Besides protecting enterprise customers, an emerging use case is protecting the Internet of Things (IoT) that allows billions of devices to communicate with each other but also provides attackers with new targets. CyberFlow is an emerging pioneer for securing the Industrial (IoT) market.
“Siemens is actively involved in securing the Industrial Internet of Things with a set of managed security services for our global manufacturing customers” stated Dr. Ralf Schnell, CEO of the Venture Capital Unit of Siemens. “We view this partnership with CyberFlow as strategic to drive industry leadership for enabling end-to-end cyber threat defense and risk management capabilities leveraging big data security analytics”
Leading IT analysts predict that 4.9 billion connected things will be in use in 2015, up 30 percent from 2014, and will reach 25 billion by 2020. The Internet of Things (IoT) has become a powerful force for business transformation, and its disruptive impact will be felt across all industries and all areas of society. This sudden expansion will boost the economic impact of the IoT as consumers, businesses, city authorities, hospitals and many other entities find new ways in which to exploit the technology. Leading analysts estimate that IoT will support total services spending of $69.5 billion in 2015 and $263 billion by 2020. From an industry perspective, manufacturing, utilities and transportation will be the top three verticals using IoT in 2015 with an estimated 736 million connected things in use.
Dr. Hossein Eslambolchi, Chairman and CEO of CyberFlow Analytics said “We are very excited that Siemens has recognized CyberFlow Analytics as a cyber security leader in both the enterprise and the Internet of Things. Their partnership and investment will help CyberFlow Analytics continue our mission of protecting both enterprises and devices around the world from security attacks. We will continue to partner with other leading organizations in their mission to prevent attacks while complementing existing cyber security solutions that are often circumvented. In today’s world, attackers use a variety of methods to attack organizations and CyberFlow Analytics is bringing a new and unique solution to the market to thwart security attacks.”
About the Venture Capital Unit of Siemens
As part of Financial Services, the Venture Capital Unit of Siemens is the corporate venture capital organization of the company and invests in early stage technology companies and established technology growth companies, focusing on the energy, healthcare, industry, and infrastructure & cities markets and hence plays a key role in Siemens’ global innovation network. The aim is to identify innovative solutions from which Siemens and its customers can profit and to strengthen business partnerships with innovative industry players. Since 1999 the company has invested in about 180 start-up companies worldwide. For more information, visit http://www.siemens.com/venturecapital.
About CyberFlow Analytics
CyberFlow Analytics develops FlowScape software that delivers continuous cyber security threat assessment and monitoring at scale using unsupervised machine learning and behavioral analytics. CyberFlow technology is focused on detection of Advanced Persistent Threats (APTs) and cyber breaches for the enterprise security market and the Industrial Internet of Things. The company has termed the expression “anomalytics” to describe real-time network anomaly detection using advanced analytics. The company was founded and is managed by an experienced management team, which includes Dr. Hossein Eslambolchi, Tom Caldwell and Louie Gasparini. CyberFlow Analytics is a privately held company headquartered in San Diego, California with offices in Silicon Valley. For more information, please visit http://www.cyberflowanalytics.com