Capital One Ventures partners with Securonix on cloud-native security analytics in $24M deal
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As more enterprises move to the cloud, the field of threat analysis is evolving by shifting to a cloud-native architecture. Over time, that will see the mix of human researchers being augmented by AI and machine learning.
That’s essential for a company like Capital One, which is rushing to scale defenses as its cloud presence expands. To catalyze that new analytics model, the financial giant’s venture arm announced today that has invested $24 million in Securonix, a security startup that has developed a cloud-based security information and event management (SIEM) platform.
“Cloud-native and scalable architectures are the direction where this market is going to go and Securonix is built cloud-native from the ground up,” said Capital One Ventures Partner Jay Emmanuel. “We believe this is the architecture that will lend itself to the scale and the resiliency that’s going to be required in a few years.”
Securonix has created a SaaS-based security analytics suite of tools that reduces infrastructure costs and allows for greater scalability. Those tools gather data that is fed to the company’s 450 security analysts who help track vulnerabilities and attacks.
But according to Securonix CEO Sachin Nayyar, the company is beefing up its AI and machine learning capabilities to augment that work so that more of it can be automated.
“Cybersecurity provides the most velocity and variety of data that you will see in any part of the organization,” Nayyar said. “And we all know that cyber analysts have been drowning in this.”
Emmanuel said Capital One knows it needs greater automation to meet the growing pace of cyberattacks.
“We believe it’s going to evolve into being more AI and machine learning-driven,” he said. “There’s going to be a significant amount of machine assistance to the human operators in threat detection and incident response activity.”
The SIEM space has become a competitive one. Securonix has been growing rapidly because, according to Nayyar, it offers three advantages: A foundation built on data analysis, a cloud-based approach to security, and a low price point for customers thanks to the lack of additional infrastructure needed.
While the latest funding will help continue that work, Nayyar said the partnership with Capital One is just as critical. Capital One Ventures is taking a seat on the board. But more importantly, Securonix will be working closely with Capital One to explore product enhancements and use cases related to monitoring cyberattacks.
Nayyar also hopes to use that development partnership to springboard into other security areas such as IoT and mobile.
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