Threat Intelligence

3/2/2017
06:00 PM
Connect Directly
Google+
Twitter
RSS
E-Mail
50%
50%

Symantec Launches Venture Capital Arm

CEO Greg Clark says new Symantec Ventures could provide an 'onramp for M&A' opportunities for the security vendor.

Symantec today announced that it has formed a cybersecurity venture capital arm that will serve as an incubator for new startups.

The new Symantec Ventures aims to accelerate the startup process for entrepreneurs with funding and access to Symantec's own enterprise Cyber Defense Platform and consumer Digital Safety Platform, as well as its threat intelligence data.

Symantec Ventures also would give Symantec access to possible acquisition prospects.

In an interview with Dark Reading, Symantec CEO Greg Clark explained the benefits for his company. "As we get to know early-stage management teams and ideas, it will be a great onramp for talking M&A. It will definitely be an advantage in that area," he says.

Clark says Symantec's previous investment in enterprise mobile app security vendor Appthority represents an initial model for a Symantec Ventures partner. Symantec and Appthority have not publicly disclosed just how much Symantec has invested in the firm, which also has funding from three traditional venture capital firmsl.

Paul Stich, Appthority CEO, says his firm shares mobile app data with Symantec, and Symantec in turn shares its threat intelligence information. "We call it more of a collaboration, kind of a two-way" relationship, he says, noting that the door is always open for M&A deals.

Symantec's Clark says his company is looking for new and emerging technologies to add to its portfolio, such as analytics and artificial intelligence. "I think analytics and AI will unlock the real, next-generation of cyber defense. We know there is information in our large dataset that if you ask the right questions, it can shed light on cyber problems in ways we currently can't imagine," Clark says. "We really like companies who work on those analytic algorithms."

"This gets Symantec more in line and closer to the innovation community in the [Silicon] Valley and the startup community in the Valley," says Jon Oltsik, senior principal analyst at the Enterprise Strategy Group. It could ultimately help the security firm round out some missing elements of its product portfolio, such security management and operations and incident response, he says.

"They don't have a SIEM. They don't have an IR platform," for instance, Oltsik notes.

Garage Startups

Clark sees Symantec as "uniquely positioned" to assist startups via its incubator arm with its threat intelligence and security products, and its position as a major security company. "We're a good advisor to an entrepreneur," he says. "I started two companies from the garage. I know that that means" and entails," Clark says.

Symantec aims to cut the infrastructure costs and accelerate development for startups by providing its product platforms to the fledgling firms. "We want to shorten their time to market, so they're not wasting money on infrastructure," he says.

That doesn't mean startups funded by Symantec Ventures are required to integrate their technologies with Symantec's products, however. "It's definitely an advantage to work in our platform, but it's not a requirement," Clark says.

Clark says Symantec is encouraging open platforms. "We are a big believer in best of breed. We believe our customers need open platforms that can allow innovation and new ideas, especially since bad guys change their methods quite often," he says.

"If you've got an idea, we've also got some money," he says.

Greg Clark, CEO of Symantec
Greg Clark, CEO of Symantec

 

Kelly Jackson Higgins is Executive Editor at DarkReading.com. She is an award-winning veteran technology and business journalist with more than two decades of experience in reporting and editing for various publications, including Network Computing, Secure Enterprise ... View Full Bio

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
'PowerSnitch' Hacks Androids via Power Banks
Kelly Jackson Higgins, Executive Editor at Dark Reading,  12/8/2018
The Case for a Human Security Officer
Ira Winkler, CISSP, President, Secure Mentem,  12/5/2018
Windows 10 Security Questions Prove Easy for Attackers to Exploit
Kelly Sheridan, Staff Editor, Dark Reading,  12/5/2018
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Write a Caption, Win a Starbucks Card! Click Here
Latest Comment: This comment is waiting for review by our moderators.
Current Issue
10 Best Practices That Could Reshape Your IT Security Department
This Dark Reading Tech Digest, explores ten best practices that could reshape IT security departments.
Flash Poll
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2018-8651
PUBLISHED: 2018-12-12
A cross site scripting vulnerability exists when Microsoft Dynamics NAV does not properly sanitize a specially crafted web request to an affected Dynamics NAV server, aka "Microsoft Dynamics NAV Cross Site Scripting Vulnerability." This affects Microsoft Dynamics NAV.
CVE-2018-8652
PUBLISHED: 2018-12-12
A Cross-site Scripting (XSS) vulnerability exists when Windows Azure Pack does not properly sanitize user-provided input, aka "Windows Azure Pack Cross Site Scripting Vulnerability." This affects Windows Azure Pack Rollup 13.1.
CVE-2018-8617
PUBLISHED: 2018-12-12
A remote code execution vulnerability exists in the way that the Chakra scripting engine handles objects in memory in Microsoft Edge, aka "Chakra Scripting Engine Memory Corruption Vulnerability." This affects Microsoft Edge, ChakraCore. This CVE ID is unique from CVE-2018-8583, CVE-2018-8...
CVE-2018-8618
PUBLISHED: 2018-12-12
A remote code execution vulnerability exists in the way that the Chakra scripting engine handles objects in memory in Microsoft Edge, aka "Chakra Scripting Engine Memory Corruption Vulnerability." This affects Microsoft Edge, ChakraCore. This CVE ID is unique from CVE-2018-8583, CVE-2018-8...
CVE-2018-8619
PUBLISHED: 2018-12-12
A remote code execution vulnerability exists when the Internet Explorer VBScript execution policy does not properly restrict VBScript under specific conditions, aka "Internet Explorer Remote Code Execution Vulnerability." This affects Internet Explorer 9, Internet Explorer 11, Internet Exp...