drag2share: IoT security startup Forescout tops $1 billion valuation

source: http://feedproxy.google.com/~r/businessinsider/~3/kCBR6BHlErw/iot-security-startup-forescout-tops-1-billion-valuation-2016-1

IoTsecurityBI Intelligence

Forescout, a network security startup that helps companies keep track of all the devices on their networks, announced that it raised $76 million in its latest investment round yesterday. The new round of funding brings the company’s total valuation to more than $1 billion, tripling its valuation in just 18 months.

Forescout’s network security solution is increasingly important for enterprises that deploy large numbers of IoT devices. The solution helps companies monitor all of the devices that are connected to their network at any given time. For many large enterprises that number of devices — which includes PCs, employees’ mobile devices, virtual machines used for testing new applications, and now IoT devices — can easily run into the millions, making it hard for network administrators to keep tabs on everything happening on their company’s network. Forescout’s CEO said that when the company first runs its software with a client, it typically finds 20-30% more devices on the network than the client’s IT team expected.

That lack of network visibility makes it harder for enterprises to detect activity that could indicate that cyber criminals have breached their network. This need for better network monitoring means that Forescout is well-positioned to cash in on the market for solutions that help secure IoT devices, a market that we expect will grow quickly in the coming years.

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By: Dr. Augustine Fou Friday, January 22nd, 2016 news

Dr. Augustine Fou is Digital Consigliere to marketing executives, advising them on digital strategy and Unified Marketing(tm). Dr Fou has over 17 years of in-the-trenches, hands-on experience, which enables him to provide objective, in-depth assessments of their current marketing programs and recommendations for improving business impact and ROI using digital insights.

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