Fortune 500 companies boast substantial financial resources to invest in high-level cybersecurity infrastructure, while the majority of organizations (particularly smaller enterprises) lack the same level of financial bandwidth. Despite this discrepancy, however, the responsibility for ensuring cybersecurity is becoming more evenly distributed across the business spectrum.
Cyber threats are indiscriminate, targeting organizations of all sizes. As technology continues to advance, the potential impact of cyberattacks on smaller entities grows, too. Therefore, even organizations with limited resources must recognize the critical importance of smartly investing in cybersecurity to safeguard their digital assets and maintain the trust of their stakeholders.
Of course, that is easier said than done, especially when these businesses are a battleground for cyberattacks.
In fact, companies with less than 100 employees are three times more likely to be targeted by cybercriminals than larger companies, according to a Barracuda report. Cyber risk is increasing (especially for tech-forward companies that leverage a growing assortment of software tools), making it even more expensive for companies that already lack the resources and expertise in cybersecurity to protect their business themselves.
Zip Security sees how smaller organizations struggle to afford cybersecurity solutions, which motivates the Zip team to make security accessible and affordable. Taking a step forward in delivering accessible and affordable security, Zip closed a $7.7 million funding round co-led by General Catalyst and Human Capital with participation from BoxGroup.
Zip builds software that automates cloud-based identity management, device management and endpoint threat detection making securing a company and acing compliance audits a breeze. Zip works with customers across a range of industries like health, defense, software, and finance and supports
“Businesses with no security team or small security teams remain targets because of their access to critical information and because they remain underserved by the industry,” said Zip CEO and co-founder Josh Zweig. “Our mission is to protect those businesses and their customers' data by making cybersecurity affordable and accessible.”
The funding will allow Zip to rapidly scale up the development of its software product, which currently solves cloud-based identity management, device management and endpoint threat detection, to include more advanced capabilities like device trust, automated patch management and identity threat detection.
“We will use this funding to build out our team and product in service of our customers, providing them best-in-class security so that they can spend their time and resources where it matters most: on their mission,” said Zip Chief Technology Officer and co-founder Gabbi Merz.
Edited by
Alex Passett
