Info@NationalCyberSecurity
Info@NationalCyberSecurity

Cybersecurity startup successfully monetizes open source and secures funding amid a challenging market – Global Village Space | #hacking | #cybersecurity | #infosec | #comptia | #pentest | #ransomware


In a challenging market for cybersecurity startups, one European company has successfully monetized open source and secured significant funding. Filigran, a four-year-old cyber tech startup, recently received €15M ($16.3 million) in Series A funding led by global venture capital firm Accel. This comes just six months after their initial seed round of €5M ($5.4 million). The success of Filigran demonstrates the value of open-source models and platforms in the cybersecurity industry.

Open source is driving a seismic shift in cybersecurity, with threat intelligence at the forefront. By leveraging open-source principles and design goals, Filigran has created an open architecture that integrates seamlessly with existing IT infrastructure. This approach allows them to deliver reliable apps at scale and low cost while remaining flexible enough to meet customer needs. Several cybersecurity CEOs have praised open-source tools for their superior capabilities and ability to accelerate release cycles.

Filigran’s Extended Threat Management (XTM) suite, which is used by over 4,200 organizations globally, includes OpenCTI and OpenBAS. OpenCTI gives organizations the tools they need to organize, store, and operationalize threat intelligence information at various levels. It allows for the creation of attack simulations, stress tests, and threat management exercises. OpenBAS provides a consolidated view of potential gaps in cybersecurity response, enabling proactive improvement of defense mechanisms.

Notably, Filigran has gained the trust of the FBI, who uses their platform to organize and analyze cybercrime data. The integration of OpenCTI into the FBI’s operational framework represents a significant evolution in knowledge management and threat analysis. It enables the FBI to manage vast amounts of data, identify patterns and connections, and respond more effectively to cyber threats. Filigran’s partnership with the FBI highlights the reliability and effectiveness of their open-source threat intelligence platform.

The success of Filigran and other cybersecurity startups embracing open source demonstrates the future direction of the industry. Founders and product leaders recognize the benefits of open source, including transparency, data privacy assurances, availability of expertise, and integration options. As the cybersecurity landscape continues to evolve, open source will play a crucial role in driving innovation and protecting organizations from cyber threats.

In conclusion, Filigran’s ability to monetize open source and secure funding in a challenging market showcases the growing importance of open-source models and platforms in the cybersecurity industry. Their success highlights the benefits of an open architecture that integrates seamlessly with existing IT infrastructure. With their Extended Threat Management suite, they provide organizations with the tools they need to organize, analyze, and respond to cyber threats effectively. As cybersecurity continues to evolve, open source will be instrumental in driving innovation and protecting organizations from cybercrime.

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