Symantec Announces the Formation of Symantec Ventures
March 02 2017 - 8:45AM
Business Wire
New Initiative Created to Foster Further
Innovation in Cyber Security
Symantec Corp. (NASDAQ:SYMC), the world’s leading cyber security
company, today announced the formation of Symantec Ventures to help
cyber security startups accelerate the delivery of core innovation
to the security marketplace. In addition to contributing capital,
Symantec aims to help the startup community reduce expenses and
accelerate time to market.
Symantec CEO Greg Clark said, “We are launching Symantec
Ventures to catalyze innovation in the cyber security space. Too
often entrepreneurs spend valuable time and resources building
endpoint chassis, network appliances or cloud infrastructure
instead of focusing their efforts on their true value-add
innovation. We can help startups by allowing them to build on our
extensible Cyber Defense Platform. For example, a new algorithmic
approach to anomaly detection can be built on top of our endpoint
platform or run on top of our network and cloud security drive
train. This strives to enable Symantec’s more than 385,000
enterprise customers – which includes many of the largest
enterprises in the world – to tap into the rich ecosystem of ideas
in the marketplace and allow entrepreneurs to dramatically reduce
their time to market.”
Symantec Ventures intends to provide entrepreneurs with access
to next-generation technology assets, including the company's Cyber
Defense Platform for enterprises and the Digital Safety Platform
for consumers, as well as expertise in artificial intelligence,
go-to-market resources and the use of the world’s largest civilian
threat intelligence network. For example, Symantec’s rich
real-world, threat intelligence data may be used to help train,
validate and debug machine learning and AI methods. This kind of
data can be expensive and sometimes impossible for a startup to
access.
Clark added, “We’ve already created the framework for Symantec’s
API-based ecosystem approach to security. This foundation has
enabled the rapid integration of the network security technologies
from Blue Coat that we acquired with Symantec’s core security
technologies, bringing together an integrated Cyber Defense
Platform. Symantec Ventures intends to help entrepreneurs build on
the infrastructure that sits at the heart of the security posture
of our customers.”
Symantec Ventures will build upon a prior investment by Symantec
in Appthority, a leader in enterprise mobile app security. “The
competitive landscape is fierce in cyber security and winning not
only requires funding, but also access to cyber defense
resources,” said Appthority CEO Paul Stich. “Symantec is not just
an investor but one of a handful of companies
that has vast amounts of threat intelligence data,
leading security expertise and deep understanding of
enterprise security challenges.”
As part of its mission, Symantec Ventures will actively engage
the startup and academic communities through sponsorship of
activities such as innovation challenges and hackathons. These
activities will be designed to ignite fresh thinking in areas
involving IoT security, behavioral analytics and machine learning.
To learn more about Symantec Ventures, visit
https://www.symantec.com/symantec-ventures
About Symantec
Symantec Corporation (NASDAQ: SYMC), the world’s leading cyber
security company, helps organizations, governments and people
secure their most important data wherever it lives. Organizations
across the world look to Symantec for strategic, integrated
solutions to defend against sophisticated attacks across endpoints,
cloud and infrastructure. Likewise, a global community of more than
50 million people and families rely on Symantec’s Norton and
LifeLock product suites to protect their digital lives at home and
across their devices. Symantec operates one of the world’s largest
civilian cyber intelligence networks, allowing it to see and
protect against the most advanced threats. For additional
information, please visit www.symantec.com or connect
with us on Facebook, Twitter, and LinkedIn.
NOTE TO U.S. EDITORS: If you would like additional
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noted are in U.S. dollars and are valid only in the United
States.
Symantec and the Symantec logo are trademarks or registered
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respective owners.
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Symantec CorporationKristen Batch,
650-527-8000Kristen_Batch@symantec.com
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