A cyber security startup company called Synack Inc. has come up with the first hacker-powered intelligence platform. It raised $21.25 million funding from Microsoft Ventures. Cybersecurity is one of the major concerns for each and every company at present. Security breaches, vulnerabilities, and hacks can cause an immense loss for any company.
But Synack offers a unique solution to these Cybersecurity breaches. Before we describe you in details about how Synack deal with the Cybersecurity issues, know that this company also gained popular interests of popular investors like Hewlett-Packard Enterprise and Singtel Innov8. With such help with funds, the total financing of Synack comes to almost $55 million.
So what’s so unique in Synack Inc.?
The core product of Synack Inc. is Hydra. It will scan the IP of any business organization. In case any vulnerability is found, it will alert the researchers for the possible changes, breaches or any unknown events. The researchers will validate the vulnerabilities and carry on an investigation on the potential attack vectors.
At present, there is a shortage of cybersecurity experts all over the world. Thus, Synack will have a critical role in safeguarding the high valued enterprises and government entities. The platform comes up with an offensive approach leveraging a network of highly skilled ethical hackers.
For any enterprise network, the IP footprints coverage is huge and this is where Hydra comes in. It runs periodic scans on the IPs and offers information to the SRT just like notifications or messages. Hydra also identifies the suspicious exploitations.
SRT starts an investigation, confirms exploitability and then offers a report to the Synack. Thus, it is always one step ahead of the bad guys. Kaplan said they will use the funds for developing the products, enter the Asia Pacific Region and scale up adoption in the US and Europe. It will also keep on recruiting hackers.
Strategy of Synack Inc. to deal with Cyber threats
According to them, an offense is the best defense. They take up a very rigorous approach. They use interviews, background checks, and skill assessments. Synack’s CEO Jay Kaplan said,
We have a passport for every researcher in our network on file, a far cry from the open, public bug bounty programs where all you need is an email address to sign up. We pay our researchers well and we do it within 24 hours of a vulnerability being verified
It has got a lot of clients including the Pentagon and the DOD. The prices vary depending on fixed monthly fees for monthly tests for the Pentagon to need to call basis. The objective of Synack is to show companies about how vulnerable they can be, from any cyber attack. Within just 4 years, Synack has got some of the best Fortune 500 companies as their clients.
About the competition, Kaplan says, “We are not a marketplace matching unvetted researchers with customers. We are a full-service security solution.” Synack Inc. has built up the Synack Red Team (SRT) where they use people in the genre where they are skilled. They focus on combining human intelligence along with technology to a robust level in determining the cyber threats.
You can call the SRT as the most secured private cyber security company. With Hydra, it helps researchers to scale up their program. Thus, they are able to find out exploits more efficiently and they can show their hacking skills more effectively.