Cybersecurity firm Cylance have expanded their product portfolio by offering CylanceHYBRID and CylanceON-PREM in order to boost their market presence. With this expansion, Cylance aim to compete with cybersecurity rivals like CrowdStrike to gain more market share.
According to Cylance, competition in the cybersecurity domain is gaining momentum with huge investments, product launches and markets penetrated by different players worldwide. They say that the recent investment of USD 200 million in CrowdStrike, is an example that cybersecurity is not only a critical need for organizations but is also a lucrative opportunity for investors.
Cylance claims that in a bid to compete against CrowdStrike and expand their market presence, diversifying their cybersecurity portfolio was essential. They say that with this expansion, they will be penetrating newer markets to offer hybrid as well as on-premise offerings through their security platform CylancePROTECT.
Explaining the benefit provided by the new offerings, Cylance claim that CylanceHYBRID receives and distributes security and data policy changes on the cloud after install, whereas CylanceON-PREMISE allows security admins to manually update agents without compromising their network.
Speaking about the launch, Eric Cornelius, Chief Product Officer at Cylance, commented:
Traditional tools have proven to be cost prohibitive and ineffective at preventing unknown attacks – the most damaging type of threat. CylanceHYBRID and CylanceON-PREM allow every organization to benefit from AI-based endpoint security capabilities, regardless of geography, connectivity level and network architecture.
In closing, the cybersecurity company also said that they have raised USD 120 million in funding from undisclosed sources will be leveraging on KPMG’s network to see this expansion through.