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Cybersecurity concerns continue to grow among enterprise decision-makers as companies invest in new technologies to protect their businesses against ever-changing cyber threats. A McKinsey survey of cybersecurity providers found a nearly sevenfold increase in spear-phishing attacks since the start of the pandemic. Another article by McKinsey said the COVID-19 pandemic has caused rapid changes in companies’ cybersecurity functions.
While the pandemic accelerated digital transformation in the global enterprise ecosystem, it also broadened the attack surface of the enterprise, leaving room for malicious actors to attack organizations with sophisticated attacks. Most popular of a long list of attacks that have hit various sectors in recent years are the SolarWinds and Kaseya supply chain attacks, as well as the Colonial Pipeline ransomware attack.
CYE, a Herzliya, Israel-based cybersecurity firm that provides organizations with data-driven cybersecurity solutions at scale, has launched a new group called Critical Cyber Operations to provide what it calls a “data-driven and mathematically proven optimization capability for cybersecurity investments that makes a rapid, accurate and efficient cybersecurity maturity build-up.”
Reuven Aronashvili, founder and CEO of CYE, believes that cybersecurity is broken because large companies already have too many weaknesses, making it difficult to control them all. As security budgets grow, offensive attackers’ revenue reached $1.5 trillion in 2018 alone, according to Aronashvili. He said CYE’s Critical Cyber Operations will provide data forensics and incident response (DFIR), threat hunting and computer threat intelligence (CTI) assessment, advanced cyber architecture solutions, and executive cyber and physical protection.
How CYE’s Platform Works
CYE’s Critical Cyber Operations are all integrated into the company’s Hyver platform that delivers business insights and optimizes cyber exposure reduction by analyzing contextual security data about the organization’s risk profile.
The platform is cloud-based and operates on three levels:
Visualization of attack routes: This provides a fully automated attack route mapping that performs a comprehensive cybersecurity assessment that spans the entire organization, creates a complete visualization of the attack surface and displays complete attack routes and vulnerabilities that can be assessed in real time. Risk Quantification: This level uses automated pathway modeling and machine learning capabilities to accurately quantify the risk of each vulnerability. It translates technical risk into business risk by correlating attack routes, exploitability, asset importance, cost and other parameters. Risk quantification also leverages threat intelligence, hunting capabilities, and community and expert knowledge to help security teams track, report, benchmark and optimize their security effectiveness. Mitigation Optimization: At this level, the platform creates an optimized mitigation plan through potential business impact against the exploitability of a threat and the cost of mitigation. It also provides actionable steps to mitigate relevant threats, starting with those that pose the greatest risk to business assets — all while improving organizations’ security positions and enabling efficient resource allocation and remediation efforts.
Aronashvili said the goal of the platform is to provide comprehensive decision-making capabilities after a thorough analysis performed by considering things like an organization’s vulnerabilities, how likely they are to happen, threshold for each vulnerability, cost in case of infringement and more.
“This provides clear decision parameters for decision makers, they can see the numbers and make the decisions based on their risk appetite, budget, etc. The whole purpose of the platform is to help decision makers make decisions with data,” he said. †
AI and ML capabilities
Aronashvili said CYE uses AI and ML in different parts of its platform, for things like predicting risks, costs and the likelihood of exploitation. The future of AI and ML will help put together the data, improve predictions and anticipate attackers’ modus operandi, he said.
“Attackers are also using AI and ML and improving their evasion capabilities. Our solution will improve, but so will the attackers at the same time. It’s going to be an endless game, but the scientific approach we offer is changing the way cybersecurity is perceived from reactive/passive to something more predictive and prescriptive,” said Aronashvili.
He also said CYE will consider new features that can further take advantage of AI and ML, with plans to continuously improve its discovery, data collection and prediction capabilities.
important differentiating factors
CYE operates in several cybersecurity categories, but Aronashvili said it is difficult to name direct competitors. He said that while there are entire companies dedicated to every feature CYE offers, the company offers a comprehensive approach that is hard to find elsewhere.
“Consulting firms are similar to us in that they provide a strategic solution based on financial analysis, but we have the platform to provide the complete solution. Our platform is real-time, which provides an immediate, easy-to-understand and timely solution,” he said.
Market Opportunity for Critical Cyber Operations
Aronashvili noted that CYE’s clients are exposed to attacks from a wide range of actors, from cybercrime to superpowers. He said these attacks could be for various purposes such as CNE, CNA & CNI, or even CN-ALL and supply chain attacks.
The digital footprint of organizations is growing, causing the attack surface to grow exponentially, while visibility and quantification remain an issue, Aronashvili said. “CISOs struggle with too many service providers, tools and vendors. Multiple suppliers lead to confusion and errors, noisy environments and a heavy reliance on multiple niche products, which makes for a difficult decision-making process.”
He noted that Critical Cyber Operations solves this challenge for CISOs looking for a single tool that aggregates all of their critical assets and findings.
Critical Cyber Operations operates on the basis of an intelligence-focused behavioral approach and consists of experienced cybersecurity professionals with deep knowledge of technical operations. He said they have proven experience in confronting and/or carrying out state-level cyber-attacks, and capabilities to guide, direct and conduct defense, technology and cyber operations.
Aronashvili declined to name the exact number of CYE’s clients, but said the company has clients in all industries — many in security, finance and healthcare, as well as those in several multinational organizations and Fortune 500 companies. According to Aronashvili, the company saw 150% growth in customers in 2021.
CYE has a current workforce of 130 and expects to double that number in the next 12 months. The company has raised $140 million in total financing to date. Following this launch, cybersecurity expert Shmulik Yehezkel joined CYE to lead the Critical Cyber Operations group. The company has also added tech industry veteran Steve Midgley to its leadership team as Chief Revenue Officer. CEO and founder, Reuven Aronashvili, was a founding member of the Israeli Army’s Red Team and Incident Response Team.
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This post CYE Launches New Group to Provide Advanced Cyber Architecture
was original published at “https://venturebeat.com/2022/03/29/cye-launches-new-group-to-provide-advanced-cyber-architecture/”