March 2015

A new breed of startups is helping hackers make millions — legally. The bug bounty business is booming.

  |   Portfolio News, The Latest

From theverge.com

By Ben Popper  on March 4, 2015 09:12 am

 

Shashank Kumar was in seventh grade when he was introduced to computer hacking. At first he had fun breaking in and defacing web sites, something he says he now regrets, but then he learned that he can get paid for reporting the weaknesses he was exploiting. Under the handle @cyberboyIndia, he says he has earned around $30,000 in so called bug bounties, enough to pay for a good portion of his college education.

These days the 19-year-old is supposed to be cramming for his final exams as he prepares for a degree in engineering. But many nights he finds himself awake too late, laptop humming away, hunting for software vulnerabilities on services run by firms like Yahoo, Paypal, and AT&T. On Twitter, Shashank catalogs the rewards he receives for reporting weaknesses, a highlight reel that ranges from a free hat, to a new smartphone, to a $1,500 check. The money is good, although it’s murder on his grades.

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E8 Security Emerges From Stealth, Raises $9.8M in Series A Funding

  |   Portfolio News, The Latest

March Capital Partners, Allegis Capital and The Hive invest in innovative security intelligence and analytics company.

 

 REDWOOD CITY, Calif.–(BUSINESS WIRE)–E8 Security, provider of cyber security analytics solutions to help enterprises detect and manage malicious insider threats and targeted cyber attacks, today announced it closed $9.8 million in series A funding led by March Capital Partners, with participation from Allegis Capital and The Hive. The funding will be allocated to furthering product development, currently in private beta with several large domestic and international organizations, while also expanding the organization’s engineering and development teams.

“E8 Security presents a new approach to addressing cyber security threats”

Recent years have seen an increased number and sophistication of cyber attacks with the average enterprise generating more than 10,000 security events daily. Preventive controls alone cannot defend against all security threats, particularly targeted attacks and insider threats. Priorities for security teams are shifting to more sophisticated detection and response capabilities for visibility into threats that have bypassed perimeter security and preventive controls. Traditional security solutions that rely on previously known threat indicators, pre-configured rules, and malware signatures are no longer effective in detecting malicious activities of sophisticated attackers. Demand for enhanced cybersecurity solutions that go beyond rules and signatures based threat detection increases daily.

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