Any cybersecurity vendor can say their product protects against attacks. But how many have proof of 100% prevention against lateral movement within an environment?
In recent evaluation trials conducted by the non-profit research organization The MITRE Corp., CrowdStrike Holdings Inc.’s Falcon Platform identified and prevented 100% of attacks emulating known tactics of the Wizard Spider and Voodoo Bear threat groups, which are listed in the CrowdStrike Adversary Universe, an extensive database of cybergangs with goofy names that have been behind some of the biggest cyberattacks of the past few years. For example, Pinchy Spider acts as ransomware-as-a-service distributor for the well-known REvil cyber gang and Remix Kitten is an Iran-nexus adversary that likes to gather personal information from organizations in the travel and hospitality sector.
Stopping breaches has been CloudStrike’s mission since the cloud-native company was founded in 2011. Back then, the idea of cloud security was an oxymoron to mainstream enterprise. Speaking with theCUBE back in 2018, co-founder Dmitri Alperovitch recalled meetings in the early days when he was told: “This sounds intriguing, but we’ll never be a customer because we’ll never do cloud.”
Times have changed, and today cloud tools are an integral part of enterprise security strategies. As theCUBE prepares to cover CrowdStrike’s Fal.Con conference in Las Vegas Sept. 20-21, we take a look back on recent developments for the company and predict some of the announcements expected during this year’s event. (* Disclosure below.)
Strong market share and increased revenue should bring positive energy to Fal.Con
Cloud security isn’t a solo game, and CloudStrike’s ecosystem of partners represents a natural evolution of the company’s story, according to Geoff Swaine, global vice president of cloud and tech ecosystems and program strategy at CrowdStrike, who spoke with theCUBE during the recent AWS re:Inforce conference. First came the simple product, then the Falcon Platform, which grew to offer cloud-native security solutions for endpoints, cloud workloads, identity protection and threat intelligence. Next is expansion beyond the platform into other areas of interest and value to customers. Specifically, the company is using artificial intelligence to scan its massive threat intelligence database and identify “Indicators of Attack.”
“Our value proposition is that huge threat graph that we’ve built over the years, trillions and trillions of events per day, that we’re now searching and using AI technologies to weed out what’s good and what’s bad,” Swaine told theCUBE in July.
The company’s earnings are strong, with second quarter 2022 bringing a report of $218.1 million in net new annual recurring revenue and net cash generated from operations of $209.9 million. This is making the company’s shareholders happy. Forecasted profits for the full fiscal year 2023 are expected to bring a return of $1.31 to $1.33 a share on revenue of $2.223 billion to $2.232 billion. Maybe the starkest indicator of the company’s continued growth is its free cash-flow figure of $135.8 million, more than doubling the previous figure of $73.6 million.
CrowdStrike evolution reflects the challenging demands of cloud security
Many of those investors will be paying close attention to the announcements made during the Fal.Con event, and theCUBE’s industry analysts Dave Vellante and David Nicholson will be right there with them, feeling out the mood on the show floor during theCUBE’s coverage of Fal.Con 2022 event from Sept. 20-21.
The event keynote from company co-founder and Chief Executive Officer George Kurtz promises the company will “unleash the next wave of security innovation that unifies protection across endpoints, cloud workloads, identity and data.” Whatever this announcement is, theCUBE will be reporting on what it means for the future of CrowdStrike and the wider security market.
“Crowdstrike has become a leading mainstream cyber company, evolving from point product to platform. The company is steadily expanding its TAM through both product innovation and ecosystem partnerships that have helped the company carve out its leadership position,” Vellante said.
Aside from evolving its focus from endpoint protection to the wider market of cloud security, CrowdStrike is collaborating on the Open Cybersecurity Schema Framework project with the aim to streamline the process of processing threat data. As a leading provider of threat intelligence, CrowdStrike’s extensive knowledge base gives it a position among the vanguard of companies transforming the security market to protect across hybrid cloud environments in a heightened threat landscape.
“A lot of other vendors talk in terms of known bad, known good, and indicators of compromise,” Swaine told theCUBE. “We’ve built up a very, very substantial library of what we call Indicators of Attack … looking at the potential for attack and whether that specific piece of telemetry in conjunction with others makes the attack more likely.”
TheCUBE event livestream
How to watch theCUBE interviews
We offer you various ways to watch theCUBE’s coverage of the Fal.Con event, including theCUBE’s dedicated website and YouTube channel. You can also get all the coverage from this year’s events on SiliconANGLE.
TheCUBE Insights podcast
Stay tuned for a complete list of expert guests.
(* Disclosure: TheCUBE is a paid media partner for the Fal.Con event. Neither CrowdStrike, the sponsor of theCUBE’s event coverage, nor other sponsors have editorial control over content on theCUBE or SiliconANGLE.)