Symantec and Frost Data Capital Partner to Incubate Cyber Security Startups
July 15 2015 - 7:30AM
Business Wire
Partners to launch and grow up to 10 security
and IoT analytics startups per year
Symantec and Frost Data Capital today announced a partnership to
fuel innovation in cyber security analytics, big data and Internet
of Things (IoT) security. Symantec and Frost Data Capital will
create and seed early-stage startups with funding, resources and
expertise. These startup companies will receive access to Frost
Data Capital’s data analytics ecosystem and deep knowledge and will
have the opportunity to collaborate with Symantec to solve the most
complex challenges shaping tomorrow’s threat landscape.
“We’re taking a fresh look at driving innovation in the market
and this partnership will enable Symantec to transform raw ideas
and concepts into meaningful security companies,” said Jeff Scheel,
SVP, Strategy, Alliances and Corporate Development at Symantec. “By
collaborating with Frost Data Capital, we create an environment
primed to incubate new, innovative and disruptive startups in cyber
security – especially in the realm of IoT technologies where
verticals like process control, automotive, health care and energy
require specialized skills.”
The partners will take nontraditional steps to confront the next
generation of threats targeting emerging technologies by incubating
up to 10 companies per year that will deliver advanced cyber
security analytics. Frost Data Capital underpins the incubator with
seasoned entrepreneurs, proven innovation methodology and process,
and deep expertise in big data analytics, IoT, industrials, and
healthcare.
“We’re seeing a huge opportunity in the IoT security market,”
said John Vigouroux, managing partner and president of Frost Data
Capital. “We’re excited to work with Symantec to bring
cutting-edge, relevant security analytics solutions to market
rapidly, in order to prevent next generation cyber attacks on
corporate infrastructures. Symantec brings to the table world-class
security technology, global presence and strategic relationships
that will be instrumental to launching these startups.”
Recent Symantec research shows cyber attackers are leap-frogging
defenses in ways companies lack insight to anticipate. Further
complicating security efforts, criminals are increasingly
leveraging legitimate technology, like enterprise software and
corporate management tools, as well as emerging technology, such as
connected devices, to carry out attacks.
"New ways to protect enterprises from targeted attacks are
needed, and startups are accepting the challenge," wrote Tyler
Shields, Jennie Duong, and Rick Holland in a report from Forrester
Research1. "CISOs have an opportunity to take a more
proactive stance in working with startups by driving their
technology road map and communicating security needs."
About Symantec
Symantec Corporation (NASDAQ: SYMC) is an information protection
expert that helps people, businesses and governments seeking the
freedom to unlock the opportunities technology brings -- anytime,
anywhere. Founded in April 1982, Symantec, a Fortune 500 company,
operating one of the largest global data-intelligence networks, has
provided leading security, backup and availability solutions for
where vital information is stored, accessed and shared. The
company's more than 19,000 employees reside in more than 50
countries. Ninety-nine percent of Fortune 500 companies are
Symantec customers. In fiscal 2015, it recorded revenues of $6.5
billion. To learn more go to www.symantec.com or connect with
Symantec at: http://www.symantec.com/social/
About Frost Data Capital
Frost Data Capital is a combined incubator and venture capital
firm with a unique approach, designed specifically to capture some
of the enormous value that will be created as the “Big Data”
revolution unfolds. Based out of Southern California, Frost Data
Capital has built an eco-system of innovative startups, with deep
expertise in big data, entrepreneurialism, advanced technology,
analytics, and the Industrial Internet. For more information,
please visit our website at www.frostdatacapital.com.
FORWARD-LOOKING STATEMENTS:
This press release contains statements regarding our strategic
direction and our projected business results, which may be
considered forward-looking within the meaning of the U.S. federal
securities laws, including statements regarding our intention to
partner with Frost Data Capital to incubate companies, and the
expected benefits to be realized as a result. These statements are
subject to known and unknown risks, uncertainties and other factors
that may cause our actual results, levels of activity, performance
or achievements to differ materially from results expressed or
implied in this press release. Such risk factors include those
related to: general economic conditions; the competitive
environment in the software industry; the timing and market
acceptance of new product releases and upgrades; the successful
development of new products, and the degree to which these products
and businesses gain market acceptance. Actual results may differ
materially from those contained in the forward-looking statements
in this press release. We assume no obligation, and do not intend,
to update these forward-looking statements as a result of future
events or developments.
1 Source: Forrester - RSAC Innovation Sandbox Finalists Spur
Ingenuity In Security April 20, 2015 By Jennie
Duong, Tyler Shields, Rick
Holland with Stephanie Balaouras, Josh Blackborow
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150715005025/en/
SymantecKatie Beck, +1
650-314-8705Katie_Beck@symantec.comorFrost Data CapitalChoo
Kim-Isgitt, +1 512-415-7181choo@frostdatacapital.com
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