Cyberattacks pose one of the biggest risks for companies. Now, Exeon Analytics has developed a solution based on big data and machine learning to protect against such attacks.
By identifying anomalies in data traffic, the solution can recognise and fight attackers known as Advanced Persistent Threats. These so-called APTs usually target specific companies and can go unnoticed for years, according to the startup.
Exeon Analytics’ solution protects companies against cyberattacks, while also cutting costs by reducing the need for cyber security staff. The software has one other advantage, according to CEO David Gugelmann, who founded the company as a spinoff from the Swiss Federal Institute of Technology in Zurich (ETH) in 2016.
He explained: “Our analytics help customers understand what is happening within their own IT networks.”
Currently, Exeon Analytics is still financed externally. In February, it completed a successful financing round that raised “enough to get us through the next year and a half”, said Gugelmann.
He added that the goal was to generate revenue through software licenses as soon as possible, with the first licenses expected to go on sale in May, according to an ETH statement.
Exeon Analytics is currently focusing on the Swiss market. Large Swiss banks have shown the most interest in the software so far, primarily because from mid-2018, tighter regulations threaten to impose major fines on companies that do not adequately protect sensitive user data.
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