Evolution Equity Partners

The transportation industry is the backbone of our global, interconnected economic system. Recent cyberattacks on U.S. airports and ports highlight the pressing need for the transportation industry to strengthen its defense mechanisms beyond traditional security measures. While the industry has consistently maintained robust security protocols, the evolving nature of cyber threats demands a more comprehensive approach:? 1. Backup plans? 2. Regular threat exercises 3. Robust recovery strategies. Some of our portfolio companies are actively bringing these solutions to the sector:? Arctic Wolf Bright Torq The October 2022 DDoS attacks that affected major airports like LAX and Chicago O'Hare demonstrate that even seemingly minor disruptions can signal reconnaissance for larger, more damaging attacks. Regular threat exercises allow transportation organizations to identify vulnerabilities, test response protocols, and refine their backup systems before actual incidents occur. #cybersecurity #transportation #logistics #defendandprotect #USports ?? Follow Evolution Equity Partners for ongoing insights on Cybersecurity and Venture Capital.

Competitive dynamics in cybersecurity are constantly shifting. Watch Richard Seewald, Founder & Managing Partner at Evolution Equity Partners discuss this topic. These days, enterprises are beginning to recognize that relying heavily on a single vendor for critical security functions creates a precarious position. When a primary security provider experiences disruption through technical failure, compromise, or operational issues, the impact cascades throughout their customer base, leaving organizations exposed precisely when they need protection most. The systemic risk in our industry today directly correlates with the concentration of security capabilities among a small number of dominant vendors. The path forward requires intentional diversification of security stacks, supported by increased investment in emerging security vendors. Richard Seewald recently sat with Aleksandr Yampolskiy from SecurityScorecard and Jill Malandrino on NasdaqTradeTalks to discuss this and many more cybersecurity topics for #CybersecurityAwarenessMonth. Listen to the full interview here:?https://lnkd.in/dBKpYzfb #cybersecurity #defendandprotect #entrepreneurship #venturecapital #saas ?? Follow Evolution Equity Partners for regular insights on Cybersecurity and Venture Capital.

How should Financial Institutions handle AI-related cybersecurity risks within existing regulatory frameworks? The New York State Department of Financial Services (DFS) released comprehensive guidance on AI-related cybersecurity risks and controls. This guidance maps AI security requirements to 23 NYCRR Part 500 compliance, providing a structured approach that will likely influence other regulators and industries. It also emphasizes Third-Party Service Provider (TPSP) risk management, recognizing it as a critical vulnerability point in AI implementations: Key outlined policies include:? 1. Mandatory due diligence before engaging AI vendors who will access systems or nonpublic information 2. Assessment of vendor-specific AI threats and their potential impact on your organization 3. Minimum security requirements including access controls and encryption standards 4. Contractual requirements for prompt notification of cybersecurity events 5. Enhanced privacy, security, and confidentiality provisions specific to AI implementations 6. Regular assessment of vendors' AI security controls and threat mitigation strategies. Due to the data-intensive nature of financial institution’s operations, each link in the AI supply chain - from data providers to model developers to deployment platforms - introduces potential vulnerabilities.? We recommend security leaders review their current TPSP frameworks against these guidelines and consider necessary updates. Read more here: https://lnkd.in/gsq6niWY? #cybersecurity #ai #defendandprotect #corporate ?? Follow Evolution Equity Partners for regular insights on Cybersecurity and Venture Capital.

When cyberattacks strike, it’s not just a technical crisis It’s a business crisis ?? Most organizations get this WRONG. IT teams scramble to patch systems and analyze malware, but the real damage unfolds in board rooms and market valuations. Technical responses are crucial, but they're just one part of the bigger business challenge. The strongest crisis response occurs when CISOs and C-suite leaders collaborate, combining technical expertise with strategic communication to protect the organization's future. They deploy a comprehensive business response in which executive communication, legal strategy, and customer trust take center stage alongside technical remediation. So, the next time you're updating your incident response plan, ask yourself:? Are we prepared for a business crisis that happens to be cyber or just a cyber crisis? List to Nimrod Kozlovski of Cytactic talk about how you can't use “ad hoc consultants and pen and paper to manage a crisis.”??? #CyberSecurity #BusinessResilience #CrisisManagement #CISO #Leadership ?? Follow Evolution Equity Partners for ongoing insights on Cybersecurity and Venture Capital.

Imagine the largest football stadium you've ever seen.? Now, picture 50 of them.? Still, not enough seats to hold all the cybersecurity professionals the world needs. ? 3.5 million cybersecurity positions remain vacant worldwide ? 500,000 unfilled roles in the U.S. alone ? 0% unemployment rate for senior positions Ask any CISO, and they'll tell you what these numbers mean: Understaffed teams scramble to manage incidents while security professionals buckle under impossible workloads.? A ruthless salary bidding war has erupted – companies either drain budgets on new talent or watch their teams get poached.? Critical digital transformation and AI initiatives sit dormant, starved of essential security oversight. Also concerning is the growing challenge of maintaining regulatory compliance without adequate specialized personnel.? Organizations face increased exposure to hefty fines and reputational damage. How can you combat these challenges?? Jason Shockey, CISO at Cenlar FSB, chats solutions on Cybercrime Magazine’s podcast ?? Source: Cybercrime Magazine, Cybersecurity Ventures, CyberSeek, and Esentire #Cybersecurity #Leadership #TalentCrisis #CISO Found this insightful? Follow Evolution Equity Partners for more on the intersection of AI and cybersecurity.

While AI can potentially enhance cybersecurity and fraud detection significantly, it also presents new challenges and risks. Cybercriminals can leverage AI to create more sophisticated attacks, and many organizations still need to be adequately prepared to manage the risks associated with AI implementation. Some of the risks and challenges we’re concerned the most about: 1. Data privacy and security, as 80% of AI decision-makers are worried about data privacy and security in enterprise contexts.? 2. Lack of governance and risk management. 93% of U.S. businesses lack a comprehensive governance framework for GenAI, and only 10% have reliable systems to measure bias and privacy risk in LLMs. 3. There's increased chatter about AI in dark web forums and illicit markets, indicating threat actors are exploring ways to leverage AI for malicious purposes. 4. 70% of fraud-management officials believe criminals are more skilled at using AI for financial crime than banks are at using it for prevention. With AI as an accomplice, fraudsters are causing record-breaking financial losses, with estimates reaching up to $200 billion in 2023. AI is indeed a double-edged sword. Is your organization protected against a potential AI-native threat? ?? #cybersecurity #ai #defendandprotect #enterprise #saas

Arctic Wolf has been named by Fortune as a Best Workplace in Technology? 2024. Arctic Wolf's vendor-neutral approach ensures comprehensive cybersecurity protection across various environments, from endpoints to the cloud. This makes them an ideal partner for midsize and large enterprises seeking enterprise-grade security. Their excellence continues to garner recognition: ? CNBC Disruptor 50 (3rd consecutive year) ? Deloitte Technology Fast 500? (5th consecutive year) ? Leader in 2024 IDC MarketScape for Worldwide Managed Detection and Response Services Evolution Equity Partners is proud to support Arctic Wolf's mission to combat cyber risk. Their journey from startup to industry leader exemplifies innovation, expertise, and dedication to cybersecurity excellence. Congratulations to field CTO Christopher Fielder and the Arctic Wolf team on their continued success and invaluable contributions to the cybersecurity landscape. #Cybersecurity #TechUnicorn #CybersecurityExcellence ?? Follow Evolution Equity Partners for more insights on Cybersecurity and Venture Capital.

At $9.0B for FY'24, Accenture eclipsed every pure-play security firm in the public markets. What does its dominance mean for the future of specialized cybersecurity firms? Making 2.5% more revenue than Palo Alto Networks. Raking in 63% more than Fortinet Dwarfing CrowdStrike by 157% The top 3 pure-play cybersecurity companies combined barely match Accenture's cybersecurity revenue. Revenue in the cybersecurity market is projected to reach US$185.70bn in 2024, but the cybersecurity landscape is clearly shifting: Is deep specialization becoming less valuable than broad integration capabilities? Will pure-play cybersecurity firms become acquisition targets for tech giants and consulting behemoths? The implications are huge for customers, employees, and investors. Ultimately, it speaks to the evolving nature of the cybersecurity market. While specialized providers have thrived, the ability of large, diversified firms like Accenture to bundle security into broader technology and consulting offerings may be a disruptive force. Seeing how this dynamic plays out over the next few years will be fascinating. Source: Strategy of Security and Statistica ?? Stay informed on Cybersecurity and Venture Capital trends - Connect with Evolution Equity Partners for regular industry insights.

Congratulations to Torq, Halcyon, Phosphorus Cybersecurity Inc. and all of the finalist for being named to the CRN Stellar Startups 2024. CRN shines a spotlight on some of the most exciting channel-focused startup vendors with leading-edge technologies that are creating new opportunities for solution providers. #DefendAndProtect, #EvolutionPortfolio, #Cybersecurity https://lnkd.in/gQi3U-rR

The United States Department of Defense has recently made significant developments regarding its zero-trust implementation strategy that will impact the entire cybersecurity sector. The Pentagon has committed to achieving target-level zero trust maturity across all components by FY2027, with an implementation framework spanning 45 capabilities across seven core pillars. They're currently evaluating 18 distinct proofs of concept, with 12 ready for assessment, and are actively working with major cloud providers, including Microsoft, Google, Amazon, and Oracle.1 This federal push creates substantial market opportunities in the zero-trust space. The DoD's approach - requiring vendors to meet 91 target activities and progress toward 152 advanced activities - effectively sets new industry benchmarks. Their evaluation framework through MIT Lincoln Labs will likely become a ???? ?????????? standard for enterprise zero trust implementations, influencing federal and commercial purchasing decisions. The focus on interoperability and certified solutions suggests a shift from point products to integrated zero-trust platforms. As investors, we’re actively looking at companies addressing critical capability gaps in zero-trust architecture, particularly in areas like:? - Federated identity management - Automated orchestration - Continuous validation. The DoD's emphasis on cloud-native implementations and ship-to-shore use cases also highlights opportunities in specialized zero-trust solutions for hybrid environments and OT/IT convergence. We are particularly interested in connecting with founders working on zero-trust solutions that scale across complex enterprise architectures while maintaining operational efficiency. If you or someone you know are working on this, please DM us. #cybersecurity #defendandprotect #DoD 1 Read more here: https://lnkd.in/g6GnwCs2