CyberSmart raises £5.5million to fund growth following increased demand for cybersecurity

Demand from SMBs for Cyber Essentials Certification drives growth to 300% per annum

LONDON 13th July 2020:  CyberSmart has raised £5.5 million in a heavily oversubscribed Series A funding round led by VC firm IQ Capital and respected cyber security and tech entrepreneur investors. The funding will be used to fund the growth of the company, which enables small to medium-sized businesses (SMBs) to combat the constant threat of cyber-attacks and increasing regulation in an ever-evolving technological landscape and increasingly connected digital operating space.

CyberSmart has seen a massive increase in demand from SMBs to protect their businesses, with a revenue increase of 300% over the last twelve months. The lockdown period has accelerated the uptake of their cloud-based technology, which is fully automated and can be implemented with the click of a mouse, without a time-consuming visit to a customer’s site.

Shares in cyber security group soar as digital attacks hit Japan

Shares in a Japanese tech start-up, whose chief executive correctly bet that Covid-19 would unleash a surge of cyber attacks and entrench a corporate prejudice against unlisted companies, have surged more than 670 per cent after pressing ahead with its listing at the height of the mid-March market turmoil.

The explosive rise in the shares of Cyber Security Cloud has given a company with 45 employees a market capitalisation of around $800m. It listed on the Tokyo Stock Exchange’s Mothers board on March 26, days after the benchmark Nikkei 225 Index had racked up losses of 20 per cent.

Cybersecurity the responsibility of agencies, not us, AGD and ASD say

During a hearing held by the Joint Committee on Public Accounts and Audit last month into the cybersecurity resilience of Commonwealth entities, the federal opposition poked holes in current reporting requirements and highlighted a lack of accountability for when Commonwealth entities come up short.

The Australian National Audit Office (ANAO) faced the firing line, with the committee asking why the Protective Security Policy Framework (PSPF) has not been made mandatory for all Commonwealth entities, and why, given they're called the Essential Eight, only the Top Four is looked at.

CYBER SECURITY ATTACKS

“Postal and parcel service providers and leading e-commerce companies handle an increasing amount of operational data and process millions of transactions every day.

Maximum availability of sorter capacity, optimal transportation and increase of customer satisfaction via apps on smartphones where customers can track and redirect parcels in near real time are some of the challenges the CEP market is facing.

Cyber attacks continue to grow in both numbers and ferocity — 2019 was just a sign of the things to come. Here’s your list of 122 of the most current cybersecurity industry, cyber attack, and data breach statistics for 2020 and beyond

Last year, we published our first comprehensive list of cyber security statistics for our readers on Hashed Out. The article was such a hit that we wanted to make this an annual project that we publish with updated cybersecurity stats each year. This way, you know right away where you can turn for all of your cyber security data needs.

Economic Impact of COVID-19 on Global Cyber Security Market

The global cyber security market is forecast to grow at a slower average rate of 6.2% per year to 2023 due to the economic consequences of the coronavirus pandemic in 2020.

The cybersecurity market grew strongly to 2019 due to strong underlying factors including the continued cyber threat and changing attitudes to risk driven by a combination of regulation and improved awareness. Additionally, the growing global economy provided the capital for organisations to invest in new digital processes and the security needed to improve resilience. These interrelated trends, coupled with the low level of security market saturation, sustained industry growth as enterprises invested in new tools and managed security services. The high growth rates are supported by the analysis of 46 cybersecurity technologies and disciplines, 39 of which are still at an early stage in their product lifecycle, characterised by high growth, low customer saturation and large supplier ecosystems. This has led to high levels of private investment in start-ups and delisting of large public cybersecurity suppliers as private equity targets returns from emerging, high growth technology segments.

SEL and University of Idaho Launch $2.5M Cybersecurity Partnership

Cybersecurity education and research in the Pacific Northwest is receiving a $2.5 million infusion due to a partnership between global power systems protection leader Schweitzer Engineering Laboratories (SEL) and the University of Idaho College of Engineering.

The five-year partnership will expand U of I’s cybersecurity education and research through direct program support and contracted research projects focused on developing inherently cyber-secure industrial control systems.