The newest white-hot security company
Sophisticated hackers have run roughshod through the network defenses of just about all Fortune 500 companies, even savvy technology firms like Google, Apple and Microsoft. Top media companies have certainly felt the awesome power of APT attackers.
Victimized companies are increasingly turning to a small company called Mandiant, which has become a shining star in the network security industry. Bloomberg Businessweek reports that privately held Mandiant generated more than $100 million in revenue in 2012, up 76 percent from the year before and that it counts 30 percent of the Fortune 100 as clients. "Its business is booming because of hackers' ability to steal data on a far greater scale than with traditional methods of espionage."
The company has soared at a time when companies are hungry for new approaches.
Bloomberg Businessweek notes that, "Mandiant uses unconventional methods. Teams of three to five specialists are assigned to track each victim company's computer system, a painstaking process that can last for months. After they have identified every security hole and piece of malware in the customer's network, Mandiant gives the bad guys the boot, in some cases by replacing every infected machine within 48 hours. For companies that fear their secrets might be lost before the hackers are cut off, it can be a white-knuckle wait."
Some will see this as a seal of approval: In 2011, the company secured a $70 million investment from no less than Kleiner Perkins Caufield & Byers and the investment arm of JPMorgan Chase.
There are certainly other start-ups riding the security and GRC wave. Lockpath has drawn lots of attention from venture capitalists for its GRC platform. And just this month, Coalfire, a IT GRC service provider announced it closed a $3.6 million round of venture funding from Baird Capital.
We may see other VC firms take the plunge in the security industry fairly soon, as demand for innovative solutions remains hot.
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