Your Tech Story

cybersecurity

Rubrik Raises $752 Million in U.S. IPO to Boost Cybersecurity Efforts

Rubrik Raises $752 Million in U.S. IPO to Boost Cybersecurity Efforts

Leave a Comment / News, Tech News / By

Leading cybersecurity company Rubrik completed its maiden public offering (IPO), the first in the industry in more than two years, and therefore reached a historic milestone. The sale, which raised $752 million and positioned Rubrik with an initial market valuation of $5.6 billion, exceeded expectations and witnessed strong investor interest.

Demand Exceeds Anticipations

Rubrik Raises $752 Million in U.S. IPO to Boost Cybersecurity Efforts

Image Source: telecom.economictimes.indiatimes.com

In their first public offering, Rubrik set a price per share of $32, above the pre-anticipated range of $28 to $31. Investor trust in Rubrik’s novel approach to data protection and management is emphasised by this high demand.

Obtaining Funds for Development

Rubrik’s IPO produced significant money with the sale of 23.5 million shares, giving the company funds to support its expansion plans. Rubrik’s great financial performance and market prospects are reflected in the success of the IPO.

Getting into the Public Market

Under the ticker code “RBRK,” Rubrik’s shares are scheduled to start trading on the New York Stock Exchange, marking the company’s debut into the public market and its dedication to providing value to shareholders.

Trajectories of Financial Performance and Growth

As of January 31, Rubrik’s yearly recurring income has increased to $784 million, a 47% rise from the prior year. This is an outstanding display of growth. In spite of its $354.2 million net deficit for the fiscal year 2024, Rubrik is well-positioned for long-term success thanks to its expansion plan and expanding clientele.

Headline Status in Data Security

The focus of CEO Bipul Sinha’s vision for Rubrik is data security based on zero trust principles, which sets the firm apart in the competitive field of cybersecurity. Rubrik’s growing customer base of over 6,100 organisations is proof that its creative approach is well-liked by clients.

Leading the Way in Cybersecurity Innovation

An important turning point for the cybersecurity sector was Rubrik’s initial public offering (IPO), which demonstrated the company’s leadership in providing innovative solutions. Having been the first cybersecurity firm to go public since 2021 (ForgeRock), Rubrik establishes a standard for the sector going forward.

Looking Ahead: Sustaining Development and Originality

A number of cybersecurity companies, including Snyk, Claroty, and Cato Networks, are apparently thinking about going public while Rubrik celebrates the success of their IPO. Rubrik’s accomplishment highlights the industry’s potential for expansion and innovation, establishing it as a major participant in the changing cybersecurity scene.

 
forcepoint

Forcepoint – A Leading Provider Of Cybersecurity Services.

Leave a Comment / Story, Tech Story / By

Forcepoint is a human-centric cyber security firm that recognizes behavior and adjusts security enforcement and responsiveness to risk. Risk-Adaptive Protection is provided by the Forcepoint Human Point system to continuously ensure the trustworthy use of vital systems and data.

About The Company

Forcepoint
is an Austin, Texas-based American multinational software firm that
develops firewalls, data security, cloud security brokers, and
cross-domain services and solutions. Originally known as NetPartners,
Forcepoint was established in 1994 as a reseller of IT services. In
1999, the firm changed its name to Websense, and at the height of the
dot-com bubble, in 2000, it went public.

forcepoint
Image Souce: i.ytimg.com

History

In 1994, Phil Trubey established Forcepoint as NetPartners in San Diego. The company started off as a distributor of network security products before creating software to regulate employee Internet access. In 1999, NetPartners became Websense. At the height of the dot-com boom in 2000, the company raised over $72 million through an IPO. On the first trading day, the stock price increased twofold. In 2006, Websense acquired the fingerprint security firm PortAuthority. In 2007, it acquired an email security provider SurfControl. In 2009, it bought Defensio, a social media-focused spam and virus startup. In 2011, Facebook used Websense to examine every link people posted on the platform. In 2013, Websense was acquired by Vista Equity Partners. That year, Websense’s headquarters were relocated to San Diego, then in 2014, they were moved to Austin, Texas. Raytheon bought the company in 2015 from Vista and merged it with RCP, a former component of its IIS division, to become Raytheon|Websense. In 2015, Raytheon paid $1.9 billion for an 80% stake in Websense. Stonesoft, a provider of network security, was purchased by Websense in 2015 from Intel. In 2016, the business changed its name to Forcepoint.In 2019, Raytheon purchased the remaining 20% of the business from Vista Ventures Partners. In January 2021, Francisco Partners acquired Forcepoint from Raytheon.

Controversies

Although
Forcepoint has a stance against doing business with government
agencies and ISPs that restrict the Internet, the company has come
under fire for having a “perceived relationship to repression of
freedom of speech and the transmission of knowledge”. In 2009,
it was found that the Yemen government was utilizing Forcepoint’s
products to track internet usage by the general public and to block
applications that let people hide their online activity from the
government. In response, Forcepoint disabled the country’s ability to
access the company’s database updates. However, Yemen’s government
continued to limit access to platforms like Tumblr, which many
newsagents used to disseminate news. In 2009 due to one of Cisco
Systems’ IP addresses being listed on a hacker website, Forcepoint
briefly classed Cisco Systems’ website under “hack sites”.
Later the IP was verified, and it was determined to be safe.
Forcepoint announced in 2011 that it would join the Global Network
Initiative, an organization dedicated to internet freedom and
privacy. In 2014, the company however left this initiative.

Founder – Phil Trubey

Websense,
Inc., which is now known as Forcepoint, was founded by Phil Trubey.
The company is a market leader in defending businesses against data
theft and cyberattacks.

CEO – Manny Rivelo

At
Forcepoint, Manny Rivelo serves as the company’s CEO. As CEO of
Forcepoint, Rivelo directs the company’s strategy to hasten the
adoption by businesses and government organizations of a contemporary
security paradigm that incorporates the newly developed Secure Access
Service Edge (SASE) framework. Rivelo has over 30 years of expertise
in leadership, corporate development, customer service, and sales
roles. Rivelo previously worked as a Senior Operating Partner at the
international investment company Francisco Partners Consulting.

trellix

Trellix – A Cybersecurity Company That Was Founded By A Former Engineer Of Sun Microsystems.

Leave a Comment / Story, Tech Story / By

Trellix is a cybersecurity company based in California, United States. Recently, FireEye and McAfee enterprise businesses combined together to launch this extended detection and response company in January 2022. So, the roots of Trellix originally date back to the foundation of FireEye by Ashar Aziz, a former engineer at Sun Microsystems.

FireEye was founded in 2004 and after a gap of a few years, the company started commercializing its products. Today, Trellix represents the products of FireEye and some of its main products are email security, endpoint security, file security, cross-vendor, etc. Trellix has approximately 3,400 employees and the company’s recent research claims that most of the hacking groups are either linked to China or Russia.

About Trellix

Trellix is a privately-held cybersecurity company that has evolved in the past 18 years and expanded the ways and techniques in threat detection. The company has been responsible for the detection and prevention of some of the major cyber-attacks across the world. Currently, the Trellix Advanced Threat Research (ATR) team has anticipated cyber attacks targeting Ukraine, and hence team of wipers has been deployed.

Trellix offers both hardware and software products for investigating cyberattacks, preventing malicious activities, and analyzing IT risks. The initial focus of the company was on developing virtual machines to test internet traffic. But after the company started acquisitions it diversified. In 2013, the company went public but then it was privatized once again in 2021. In 2021, FireEye sold both its brand name and products to Symphony Technology Group which then launched Trellix after a year.

Trellix
Image source: indianexpress.com

History

The history of Trellix began in 2004 with the foundation of FireEye. Though the company was established in 2004, its first product was publicly released in 2010, after a gap of six years. After it released its first product, the company decided to expand in the Middle Eastern market in the same year. By the end of 2010, FireEye opened new offices in the Asia Pacific region, and in 2011 opened new offices in Europe. In 2013, the company expanded into the African market as well. Till 2012, the founder of FireEye, Ashar Aziz played the role of CEO in the company but stepped down in December and he was replaced by David DeWalt, former CEO of McAfee. The main reason why DeWalt was recruited was to prepare the company for an IPO. In 2013, the company raised $50 million in funding and went public after which it raised another $300 million.

Recent Operations

FireEye was growing rapidly especially after it became a public company. The annual revenue of the company increased by eight folds within a couple of years between 2010 and 2012. As the company grew and expanded to various other international markets, the employees also increased from 175 in 2011 to 900 in 2013. Though FireEye was growing rapidly the net profit was not increasing sharply because of the high operating cost, especially in the research division. FireEye also started making acquisitions during this time and started with Mandiant, an information security company in 2013. The deal was closed for $1 billion. Mandiant was a famous cybersecurity company that was known for investigating high-profile hacking groups. In 2014, it acquired another information security company called nPulse Technologies for $60 million.

After making a few acquisitions and launching new products, the annual revenue of the company was $100 million in 2015. But even at this point, the company wasn’t profitable yet due to large research expenditure. In 2016, FireEye acquired two new companies called iSight Partners and Invotas. In the same year, DeWalt stepped down from the CEO of the company and he was replaced by Mandiant CEO Kevin Mandia. In 2021, after STG acquired both FireEye and McAfee Enterprise, the company decided to roll out Trellix.

Bryan Palma – CEO of Trellix

Bryan Palma has become the CEO of Trellix in 2022. He is new to the company as he joined FireEye only a year ago as the Executive Vice President of FireEye Products. He went to the University of Richmond for his bachelor’s and later acquired an MBA degree from Duke University.

Cylance

Cylance – A Billion-Dollar Cybersecurity Startup Founded By A Former Executive Of McAfee.

Leave a Comment / Story, Tech Story / By

Cylance is a cybersecurity software firm founded in 2012. It is a young company and has already reached a billion-dollar valuation. Cylance is a privately-held company as in 2019 it was acquired by BlackBerry Limited for $1.4 billion. Stuart McClure, a former executive at McAfee is the founder of Cylance and now product and service are under the brand name of BlackBerry. The company’s headquarters is based in Irvine, California, US. Cylance mainly develops antivirus software programs and other related computer software. When Cylance was an independent company it claimed that the company focuses on preventive software rather than malware detection.

Backstory of Cylance

Stuart McClure was a cybersecurity researcher and before founding Cylance he was the global Chief Technology Officer at McAfee. While he was working as the CTO of McAfee, he spend half of his time apologizing to the customers of McAfee for data breaches. And, McClure said mentioned that every breach seemed to be worse than the previous one. This defamed the company and each and every day McClure had a long conversation with top priority clients of McAfee.

Several clients asked him what are the types of software and the various layer of security system that is used by the company to prevent such data breaches. While going through this phase of constant questioning and allegations, he realized that there are no new ways of hacking a system. And if he can teach the computer to prevent such attacks that would solve the main problem. This was the beginning of Cylance and he started thinking of a new project.

Cylance
Image source: rackcdn.com

Early Days

Apart from McClure, Ryan Permeh, the former chief scientist of McAfee is also one of the main brains behind founding Cylance. McClure’s approach towards its customers was not in a conventional way that is used by most cybersecurity companies. For example, many big companies try to intimidate clients by saying that there are several ways that a hacker can compromise a system and that is why advanced solutions are required to prevent such attacks. But McClure was very honest and transparent at Cylance from the beginning. He said that there can be only a handful of ways through which a hacker can penetrate a company’s network. And if someone knows the way around their system then it becomes easier to understand how the mindset of the hacker and how that breach can be prevented.

Success

After Cylance was founded it was able to land many big reputed clients like Toyota, Panasonic, WWE, etc. In 2015, the company raised $42 million from funding rounds which included investors like CapitalOne, Dell, Draper Fisher Jurvetson, and many more. In 2016, the company was able to raise another $100 million and the main investors were Blackstone Tactical Opportunities and Insight Venture Partners. The reputation of the company rose in 2016 when the U.S. House of Representatives Committee on Oversight and Government Reform reported the worst data breach and was fixed by Cylance. After it fixed a big data breach for the US government, Dell also announced that the company would incorporate Cylance in the machines sold to corporate customers. With more investors coming on board by the end of 2015, Cylance reached the mark of a $1 billion valuation. In the same year, the company also ranked 26th in Inc 5000, and the annual revenue of the company summed up to $11.1 million.

Awards & Recognitions

Cylance has been awarded several prestigious awards and also featured in many renowned magazines. Only four years after founding the company, Cylance was featured in Forbes in 2016 in the Forbes Cloud 100 list. In the same years, it was also named Orange County Entrepreneur of the Year. In 2017 the company was recognized by LinkedIn as one of the “Top Companies | Startups” of the year 2017 and next year it won the MSPWorld Cup Award.

Stuart McClure – Founder of Cylance

Stuart McClure is the founder and former CEO of the company until the company was acquired by BlackBerry. Before founding Cylance, Stuart McCLure was the EVP, Global CTO, and General Manager of McAfee. He also wrote a book on cybersecurity called Hacking Exposed.

Zscaler

Zscaler – A Cloud Security Company Founded By An Indian-American Billionaire.

Leave a Comment / Story, Tech Story / By

Zscaler is an American company established in the network security sector. The company was named one of the best places to work in America for two consecutive years. Zscaler is a publicly-traded company that was founded in 2007. Its headquarters is based in San Jose, California. CRN has also named Zscaler as one of the twenty coolest could security companies of the year. The main goal of the company is to anticipate and secure the whole experience of connectivity and sharing information. It started acquiring other companies more than after a decade the company was established. In 2021, the company started powering its global data centers and offices with renewable energy.

About Zscaler

Jay Chaudhry is the founder of the Zscaler who established it in 2007 along with K. Kailash. Chaudhry’s passion for making innovations in cybersecurity led to the foundation of the company which is one of the five startups he established in his journey. Zscaler is a leading cloud security company and it is also a leader in the zero-trust security model. The products offered by Zscaler ensure that a company can safely transfer data among its employers especially when working from a remote environment. The two main compromises that network security company deals with today are data loss and cyberattacks. Zscaler’s platform ensures its customer protection from these threats.

The company has a very lucrative list of clients and investors and its products are used in more than 185 countries today. Apart from the multinational companies, the government agencies also use the Company platform to prevent cyberattacks and data loss. The company has security as a service revenue model and some of its biggest clients are General Electric, VMware, Nestle, Barclays, the State of North Carolina, etc. The National Health Services of the UK is one of the largest government bodies to use Zscaler. The main products of the company include Zero Trust Exchange, Zscaler Internet Access, Zscaler Cloud Protection, Zscaler Private Access, and Zscaler Digital Experience.

Zscaler
Image source: www.zscaler.com

History of the Company

Zscaler started its venture in 2007 and from 2008 the products (cloud security services) of the company were made available. Within two years, the company became very famous and was featured in the list of top 10 startups to watch in 2009 by Network World. Gartner Magic Quadrant named the company as a “Visionary” for Secure Web Gateways in 2010. For many subsequent years, Company was also positioned as a “Leader” in the Leaders Quadrant for Secure Web Gateways.

Zscaler also started acquiring new investors in the early 2010s. In 2012, Zscaler was able to raise $38 million from multiple investors including Lightspeed Ventures. In 2015, another round of funding took place which was led by TPG and the company secured $100 million. The company went public in March 2018 in which it raised $192 million in the initial public offering. It was by the end of 2021 that the Zscaler stock was added to the Nasdaq 100. The company also started making several acquisitions in 2018. The first company acquired was TrustPath, an AI-based company for cybersecurity. In 2019, acquired Appsulate, a cloud browser isolation company followed by Cloudneeti, a company that offered cloud security posture management (CSPM) technology. In 2021, it acquired two companies namely, Trustdome and Smokescreen.

Awards and Accolades

Zscaler has been recognized for its innovative technology and work culture over the years. In 2017, the company was awarded the Morgan Stanley CTO Award for Innovation, Most Innovative Tech Company of the Year in 2019, Cybersecurity Impact Awards Honoree in 2020, Infosec Publisher’s Choice Award in 2020, and many more. For the last two years, it has consecutive won the award of Glassdoor Best Place to Work.

Jay Chaudhry – Founder and CEO

Jay Chaudhry is an Indian-American entrepreneur who has started several ventures apart from Zscaler. His other successful endeavors are AirDefense, CipherTrust, CoreHarbor, and SecureIT. Jay has more than 25 years of experience in network security, sales, marketing, and management. Before becoming an entrepreneur, he worked at companies like IBM and Unisys. He is an alumnus of IIT BHU and later went to Harvard Business School.

Mimecast

Mimecast, the cloud-based email management to protect our sensitive information.

Leave a Comment / Story, Tech Story / By

Mimecast is a publicly-traded company in the IT sector specializing in cybersecurity, information security, and email and file archiving. Peter Bauer and Neil Murray founded the company in 2003 and currently, Peteris is serving as the CEO of the company while Neil is in the position of CTO. The headquarters of the company is based in London, England. Though Mimecast offers a wide range of products to its customers, it mainly specializes in cloud-based email management for Microsoft Exchange and Microsoft Email 365. Mimecast became a public company in November 2015.

About Mimecast

The main goal of Mimecast is to eradicate the risks that we face daily on your email system. It also helps in reducing the cost that is required to protect our sensitive information by moving the workload to the cloud. In a single subscription-based model, Mimecast provides comprehensive email security along with archiving and service continuity.

Currently, Mimecast has 12 offices in several continents. It has more than 40,600 customers on a worldwide basis and approximately 1,700 employees to make better products and offer consistent service. The major investors of the company are Index Ventures, Dawn Capital, and Insight Venture Partners. Recently, the company has hired a new Public Sector and Channel Director to strengthen its operation in South Africa.

Mimecast
Image source: businesstech.co.za

History of the Company

Both Peter Bauer and Neil Murray came from an experienced and entrepreneurial background. They previously founded FAB Technology and Pro-Solutions respectively. Before founding Mimecast, Peter was trained as a Microsoft systems engineer and gained experience working with corporate messaging systems. The company designed the MIME protocol for formatting multimedia e-mail. Nathaniel Borenstein was the chief scientist behind the design of this protocol. After the company was founded in 2003, it expanded overseas establishing offices in London, Boston, Chicago, San Francisco, Dallas, Munich, Israel, and many more.

The idea behind founding Mimecast was quite simple as the product was developed to make it easy for users to embrace email. In October 2015, the company filed for its IPO and the next month it started trading on the Nasdaq Global Select Market. In the past few years, Mimecast has acquired several companies starting with Ataata, a startup specializing in cybersecurity. In 2018, the company acquired another cybersecurity firm called Solebit. It acquired a company called DMARC Analyzer in 2019 and last year it acquired Segasec.

Business Strategies

In an interview, Peter Bauer said that the M&A strategies of the company are mainly focused on advanced technologies and new talents. They mainly target buying start-ups that can provide the company with new opportunities and capabilities. It is more like harnessing the power of any new technology and giving it a proper shape using the funds of Mimecast. The company didn’t acquire any businesses for the first fourteen years, instead, they chose to build an organic platform with strong architecture. Mimecast plans for months before acquiring so that they understand the workflow of the organization well and if their technology can bring new capabilities for its customers.

Peter Bauer – Co-Founder and CEO

The CEO and co-founder of Mimecast, Peter Bauer is also a Board Member of the company. He has significant contributions to Mimecast’s SaaS strategy. He along with Neil Murray has developed the pure cloud delivery mechanism for an easy and secured user experience. Peter originally belongs from South Africa and during the 1990s he was trained as a Microsoft system engineer. He moved to the UK from South Africa where he founded Mimecast.

In 2011, he moved to Boston to help in expanding the operations of Mimecast to South Africa. In an interview, he mentioned that though their potential plans got delayed due to the crisis of COVID-19, the employees improved their communications significantly during work from home. And, it helped in uplifting the working environment of the company.