Modern defensive cyber solutions, while impressive, have failed in the face of cheap and easy-to-create – and most importantly lucrative – ransomware, according to Austin, Texas-based Halcyon, an anti-ransomware company.
Halcyon claims to have built the first anti-ransomware engine to tackle this problem. Their team has spent decades building name-brand security products and delivering security consulting to much of the Fortune 500.
Richard Seewald, Founder & Managing Partner at Evolution Equity Partners, and Steve Morgan, Founder of Cybersecurity Ventures, recently discussed Halcyon’s one-of-a-kind solution on the Cybercrime Magazine Podcast.
“Watch out for Halcyon,” says Seewald. “Halcyon is growing tremendously well. They have a great team that is the best in the business led by Jon Miller, their co-founder and CEO.”
Morgan had an opportunity to see Miller present recently at Evolution’s annual investor conference. “There’s very, very few companies doing what Halcyon is doing, who are built around anti-ransomware.”
The need to protect against ransomware, and the market opportunity for it, can not be over-stated. Ransomware will cost its victims around $265 billion (USD) annually by 2031, Cybersecurity Ventures predicts, with a new attack (on a consumer or business) every 2 seconds as ransomware perpetrators progressively refine their malware payloads and related extortion activities.
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