DALLAS, February 23, 2022 – Cysiv, an innovator in the field of security operations center (SOC) as-a-service, announces record growth in 2021, as more enterprises recognize the importance of better detection and faster response of true threats across multi-cloud and hybrid IT, OT and IoT environments.
"The rapid growth we’re experiencing is validation of our unique SOCaaS offering."
Cysiv doubled its SOC-as-a-Service customer base, and revenue was up more than 100%, with growth strongest in the US, Europe, and the Middle East and Africa region. In addition, Cysiv was recently named the winner of Tech Titans’ 2021 Fast Tech Award, which honors the fastest growing technology companies in North Texas. Cysiv topped the list of 20 other North Texas-based technology companies with three-year revenue growth of 1,848 percent.
The company’s growing list of clients now includes Fortune 50, Fortune 100, Fortune 500 and Fortune 1000 clients. As importantly, it has been chosen by digital native and high-growth companies, across a range of sectors, including fintech, SaaS/business services, digital health, mobile commerce, manufacturing, and consumer.
“We’re very proud to have been entrusted by so many businesses, and to be operating as a seamless extension to their SecOps teams, as a true strategic security partner,” said Partha Panda, CEO and co-founder of Cysiv. “The rapid growth we’re experiencing is validation of our unique service offering, which combines a data-centric approach, our own cloud-native next-gen SIEM platform, and a response-centric SOC model.”
Better Detection and Faster Response of True Threats
Detecting and responding to true threats—high fidelity security incidents that have been human-verified and are actionable with sufficient contextual information—before they result in a disruptive or damaging breach, is increasingly critical, and also very difficult. This is because of the modernization of applications and the cloud-scale volume of data that needs to be processed and correlated by the SOC, as well as the fluid threat environment, and the complexity of correlating and managing data from existing security solutions. All of this is made more challenging by the global cyber skills shortage.
In 2021, 85% of all cases escalated by Cysiv to clients worldwide were true threats. This means that less than 15% of Cysiv cases were false positives, which compares favorably to industry standards of 40-80%. And for many clients, Cysiv delivered fewer than 5% false positives. In addition, once a true threat was detected and confirmed by the platform as a critical or high potential security incident, it took Cysiv less than 5 minutes to respond, either by initiating a pre-approved, manual or programmatic response measure on behalf of the client, or by communicating to the client with clear guidance on how to address the threat.
"Cysiv is an integral extension of our team, providing us with collaborative and highly responsive 24/7 threat monitoring and security management services."
- Scott Moser, SVP and CISO, Sabre
“We chose Cysiv because we needed a security partner that shared a similar DNA to ours: bold, fast, built for growth, and born in the cloud. Cysiv’s native support for cloud data sources, and the capabilities of their modern SOC platform built on Google Cloud, gave us the confidence we needed to choose Cysiv, and to help further elevate our security posture, while enabling us to stay focused on growth.”
- Jan Schmidt, Global Director IT, Gorillas
“Cysiv’s approach to delivering modern SOC-as-a-service – combining a data science- and automation-driven next generation SIEM platform, with a strong, collaborative working relationship, and predictable billing model, is refreshing and unique.”
- Dagmar Ostermann-Held, Director Information Security, Western Reserve Hospital
Key Pain Points Cysiv Addresses
Cysiv SOC-as-a-Service enables organizations to address these common requirements and challenges:
- Data breach: Fear of a damaging and disruptive incident or cyber-attack
- Compliance: The need to demonstrate compliance, with requirements for log storage, 24/7 threat monitoring, incident investigation and response
- SOC 2 Type II certification: The need to better protect end customer data
- SIEM or MSSP: Frustrations associated with current vendors including high costs, poor service, lack of support for key data sources, alert fatigue, and long contracts
- Cyber skills: Limited budget for, or access to, the required expertise
- Cloud security: The challenge of monitoring cloud workloads and SaaS applications
- IoT/OT security: The challenge of monitoring internet of everything, for threats
- Alert fatigue / false positives: The need for automation and data science to improve SOC efficiency
- Inefficiencies: A lack of automation and data science is resulting alert fatique and too
- SOC Maturity: The need to improve the overall maturity of SecOps to further reduce risk
To learn more, please visit cysiv.com.