CEO George Kurtz said Palo Alto Networks' strategy of offering free products won't neutralize CrowdStrike's advantage around total cost of ownership. Customers are smart enough to recognize the difference between the price of a product and the total lifetime cost of operating inferior technology.
Discontent with legacy SIEM offerings and Cisco's proposed acquisition of Splunk have driven "a significant and pronounced increase in interest" in CrowdStrike's SIEM offering. LogScale hit the $100 million ARR milestone last quarter thanks to its search speed, data gravity and cost efficiency.
Safeguarding unmonitored channels is imperative. Chris Lehman, CEO of SafeGuard Cyber, highlighted the challenges enterprises face. No matter how many training or awareness programs are in place, Lehman said, "humans are always going to be the biggest wild card in your security strategy."
Splunk has executed its second round of layoffs since February, axing 7% of its workforce weeks after Cisco announced plans for a $28 billion acquisition. Splunk will reduce its 8,000-person staff by 7% or approximately 560 positions. Most of the jobs being cut are in the United States.
Two cybersecurity vendors are laying off a sizable chunk of their staff, with Exabeam axing 20% of its workforce and F-Secure cutting up to 70 employees. Exabeam eliminated roughly 134 positions this week, while F-Secure wants to shrink its workforce by nearly 14%.
A mid-market security operations vendor founded by a ex-Marine Corps officer closed its Series B funding round to pursue a product-led growth strategy. Washington D.C.-based Adlumin will use the $70 million to launch free tools in the cloud configuration and remote monitoring and management spaces.
In our latest weekly update, ISMG editors discuss key takeaways from a forum on developing a strategy for OT security, guidance issued by the U.S. Food and Drug Administration on cybersecurity in medical devices, and how the acquisition of Splunk by Cisco might affect the cybersecurity industry.
Security practitioners are skeptical of Cisco's proposed $28 billion Splunk purchase given the networking giant's track record around funding and investing in previous acquisition targets. Forrester's Allie Mellen expects some customers to try out other SIEM tools given Cisco's heritage in hardware.
Cisco's proposed $28 billion buy of Splunk allows businesses to move from threat detection and response to threat prediction and prevention by combining XDR and SIEM. The deal brings together Cisco's newly released XDR platform with Splunk's long-standing SIEM technology.
It turns out SIEM isn't on life support after all. Cisco is providing 28 billion reasons to believe enterprises aren't scrapping the security operations center staple anytime soon, even though rivals with other types of security technology have attempted to write SIEM's obituary for years.
Rapid7 will lay off close to 1 in 5 of its employees in cuts that amount to the second-largest round of layoffs of any pure-play cybersecurity company since worries about an economic downturn began percolating in spring 2022. The vendor will reduce its 2,623-person staff by 18%.
Graylog bought an API security startup founded by a former Dell and Intel software engineer to give its customers broader and more complete threat detection. Resurface.io will allow companies to conduct threat hunting across the full set of API request response data rather than rely on metadata.
Exabeam will have its third CEO since June 2021 after promoting Chief Product Officer Adam Geller to take over as its top leader. The security operations vendor elevated Geller to replace Michael DeCesare, 57, who joined Exabeam as president and CEO two years ago after leading Forescout for years.
Sumo Logic has axed 8% of its workforce less than a month after Francisco Partners paid $1.7 billion to take the data analytics vendor private. The company told California's Economic Development Department on June 7 that it would lay off 79 staff at its Silicon Valley headquarters the following day.
In the face of a growing attack surface, the architecture and technology of traditional SIEMs keeps them from meeting the needs of modern enterprises. Firms can address these gaps with data protection, threat content as a service, and peer-to-peer collaboration, said Securonix CEO Nayaki Nayyar.
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