Stealthy Niara gets $20 million in funding for Big Data security
Following today’s funding announcement for stealth security analytics firm Niara, CEO Sriram Ramachandran told us that cyber attacks are now more sophisticated than ever.
If there ever was a time to worry about cybersecurity, now is probably a good one.
Countless enterprises are discovering that data is a major source of revenue – like Uber who is selling its user data to a hotel chain, or the anonymous global credit card company that reportedly saved 25% in advertising expenses thanks to big data. But what we don’t know is how many corporate espionage data hacks have been covered up out of embarrassment. Or how many have been prevented by security analytics companies.
It should be no surprise that data security analytics firm Niara has today announced $20 million (USD) in series B funding. CEO Sririam Ramachandran told us what little he could about their stealth security analytics for threat detection and investigations and how it fits into the changing landscape of big data security.
JAXenter: Can you give us a sense of what kind of security analytics Niara is offering?
Sriram Ramachandran: Cyber attacks are more sophisticated, persistent and covert than ever before. There’s also different data across siloed sources within organizations. Niara has a unique approach to help fuse such data sources and discover advanced threats by providing enterprises with much-needed context and visibility for a strong security solution. That said, we’ll be able to go more into the technology once we’re launched out of stealth.
What kind of analytics technology is Niara based on?
Niara offers an array of capabilities in the discrete and behavioral analytics domains using Machine Learning algorithms (supervised, unsupervised and deep learning). Niara has assembled a world-class engineering team, including data scientists and data engineers.
You’ve commented publicly that the security threat landscape has become increasingly more complex – in what way?
The security landscape has evolved from the realm of hacking for fame and glory to organized crime. At the same time, there is a loss of control within many organizations because of an increasing sense of openness and move to trends like BYOD and the cloud.
Attackers are able to create sophisticated campaigns that evade currently available solutions that sit predominantly at the perimeter of an organization and attempt to detect and prevent threats in real time. Since those solutions are becoming more porous, they need to be complimented with threat discovery solutions that use newer techniques.
What will you be putting the money towards? And what’s on the roadmap for Niara now?
We will use this money to accelerate product development as we approach our launch later on in the quarter. Additionally, funds will go towards scaling our marketing and sales efforts to capitalize on our momentum. We’re still in stealth, but will be launching our product later on in Q2.