Founded in 2020 by three cybersecurity experts, the Paris-based company has developed a cyberthreat assessment software platform using what it calls a “collaborative intrusion prevention system.” This technology is based on an open source software solution that engages many people and organizations to tag attacks, allowing them to be entered into a database that acts as a critical resource detailing attackers’ IP addresses to block.
Cybercriminals often find ways to change their IP address to launch new attacks, but the CrowdSec platform is designed to quickly notify users of new malicious attempts, according to the company. The result, according to the French, is a “crowd-sourced real-time threat detection system” capable of dealing with everything from DDoS and ransomware attacks to troll farms and more around the world.
Philip Humo, CEO The CEO called the core idea of CrowdSec a “community share”. He sees the idea as the future of an industry that has hitherto been plagued by “siloed cybersecurity defenses.” “The unique strength of CrowdSec lies in its numbers and in its coordinated, global approach to a global problem. The number of cybercriminals is tens of thousands of times smaller than the legitimate users of the Internet, who can now unite to protect themselves and each other,” he said.
The CrowdSec funding round, led by Supernova Invest, a Paris-based high-tech investor, and Breega, a venture capital firm, was created because since the beginning of the COVID-19 pandemic, organizations around the world have been facing increasingly dangerous cyber threats that they forced to face. Ransomware attacks have proven particularly difficult.
The startup says its software is currently used in 175 countries, including governments, e-commerce companies, the media and financial institutions. They said they intend to use the funds to expand their reach by increasing operations in the US and increasing their user network tenfold. In addition, the company plans to more than double the size of its team.
Hardware, software, tests, interesting and colorful news from the IT world are here!
