Enhancing Cybersecurity with Reach Security: Getting the Most Out of Your Existing Tools
Reach Security Raises New Funding for Their Cybersecurity Platform that Integrates with Existing Tools to Provide Attack-Fighting Recommendations
Reach Security utilizes a company’s current tools to combat cyber threats | ENBLE
Thanks to an uncertain economy, cybersecurity budgets are in a tight spot. A recent survey from IANS and recruiting firm Artico Search reveals that more than a third of chief information security officers (CISOs) kept their security spending the same — or slightly reduced it — in 2023. Additionally, one in five organizations will see their cybersecurity budgets stagnate or even shrink this year, according to a report from PwC.
So what’s a CISO to do? Well, if you ask Garrett Hamilton, they should give Reach Security a whirl. Reach is Hamilton’s brainchild, a startup he co-founded with Colt Blackmore in 2021. It’s technically a cybersecurity platform — but not a conventional one.
🕵️♀️ Digging Deeper: How can Reach Security help optimize existing tools to combat cyber attacks? What sets it apart from traditional cybersecurity platforms?
Instead of serving as just another layer in a company’s cybersecurity stack, Reach connects to a company’s existing IT and security products. It collects data on attacks and recommends ways to combat them using security tools that the company already owns. Basically, it abstracts away some of businesses’ basic security decisions, helping them optimize the tools they already have.
🔍 Suggested Reading: Check out this article on the benefits of integrating existing security tools: Link to article on integration.
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“The average security team uses less than 20% of what they have, and struggles to secure their organization as a direct result,” Hamilton explained. “Every other company in our industry will say that you need another security mousetrap to solve this problem. They’re wrong.”
The sprawl of security tools is a real issue. According to a survey from security posture management vendor Panaseer, organizations manage an average of 64 to 76 security tools. Alarmingly, only a third of them said they were “very confident” in their ability to prove that their security controls were working as intended.
🧠 Insightful Analogy: The cybersecurity tool sprawl is like a messy kitchen drawer full of utensils you never use, causing frustration when you can’t find what you actually need.
Perhaps it’s not surprising that many CISOs feel their cybersecurity budgets are being wasted, especially considering that it takes them days to weeks to detect threats despite having countless defensive and offensive tools at their disposal.
“It’s becoming increasingly important for security teams to optimize the tools they already own based on the attacks they actually face,” Hamilton noted. He emphasized that vendors should meet the customer where they are and prove their value, while customers should focus on operating what they have deployed effectively before considering another tool or platform.
💡 Expert Tip: Before investing in new cybersecurity tools, assess your existing tools and evaluate how effectively you are using them to combat current threats.
To address this need for optimization, Reach Security aims to suss out the identity of attackers, their targets, what they have access to, and how their attacks work. It then suggests options available to stop the attacks through a company’s subscribed-to products. Reach even auto-tunes security tool configurations to prevent attacks, prioritizing actions based on how the attacks are being carried out.
🔍 Suggested Reading: Find out more about the cutting-edge features of Reach Security: Link to Reach Security features.
Companies like Autodesk have already deployed Reach’s tools, and investors have taken notice. Reach recently closed a $20 million funding round led by Ballistic Ventures, with participation from Artisanal Ventures, Ridge Ventures, Webb Investment Network, Tech Operators, and former Palo Alto Networks CEO Mark McLaughlin.
LinkedIn’s CISO, Geoff Belknap, shared his thoughts on Reach Security: “Reach Security solves the ‘too many tools, not enough people’ problem not by asking you to buy one more tool, but by pragmatically attacking the problem with a product that focuses on ensuring you get the most out of what you already have.”
💬 Join the Discussion: How do you maximize the effectiveness of your cybersecurity tools? Share your strategies and experiences in the comments below!
Considering the ongoing downturn in the cybersecurity sector, Reach’s ability to secure a significant funding tranche is even more impressive. DataTribe reports a 37% dip in completed cybersecurity funding deals from Q4 2022 to Q4 2023, with median pre-money valuations dropping from a five-year high of $73.45 million to $29.5 million.
“The broader slowdown in tech has amplified the value that Reach provides,” Hamilton added. “Reach addresses a universal need and is positioned for growth in a sector where the demand for using existing security controls more effectively is escalating… While this new capital was raised to scale up the business, we’ll continue to follow a disciplined approach that scrutinizes spend against results achieved.”
📚 Additional Resources:
- Silence Laboratories: A Cryptographic Security Startup Secures Funding – TechCrunch
- European VC Funding Landscape in 2024 – According to Analysts – ENBLE
- Article on integration
- Link to Reach Security features
📢 Share the Knowledge! Spread the word about the innovative solutions offered by Reach Security and how companies can optimize their cybersecurity stance by using their existing tools. Let’s make the digital world a safer place together.
