Cysiv Experiences Record Growth as Demand for SOC-as-a-Service Accelerates
Enterprises Embrace Better Detection and Faster Response of True Threats
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.
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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.