Cybersecurity company Abstract Security announced that it has raised $8.5 million in seed funding led by Crosslink Capital, Rally Ventures, and Liquid 2 Ventures.
Abstract has created an entirely new AI-powered model for security teams that excels in next-gen SIEM solutions. This platform correlates data in real-time between data streams and separates compliance and security data to increase detection effectiveness and lower costs.
Most data collected by security analysts is generally not useful or relevant for detection scenarios. At the same time, the stakes are only getting higher with adversaries taking less time to compromise organizations at over 60 minutes on average. The average cost of data breaches has risen to over $4 million – which has increased substantially over the last few years.
The security information and event management (SIEM) market emerged more than 20 years ago to address real-world security challenges, and the weaknesses have surfaced as the industry evolves.
Abstract’s platform was built differently and abstracts away the operational weight of security platform engineering by bifurcating compliance and security use cases, providing security analysts with more powerful tools, and reducing immense compute and storage costs.
KEY QUOTES:
“Current SIEM detection is largely ineffective and the capabilities afforded to analysts to leverage true correlation and analytics have hit an all-time low. For most organizations, this has become inefficient and impractical. And as an industry, we cannot keep building on a broken premise. The future of detection is fundamentally understanding the data sources and having detection engineering baked into the platform with powerful analytics. We help customers differentiate what data is important to their organization, and then we give them a roadmap to become more effective at detecting and mitigating threats.”
– Colby DeRodeff, co-founder and CEO of Abstract Security
“Abstract’s data-centric approach represents the future of detection. We are excited to partner with Colby, Ryan and the entire Abstract team to contribute to a new paradigm in security: an approach that enables analysts to align security efforts to business value.”
– Matt Bigge, partner at Crosslink Capital
