The Target Hack Is Still A Boon To Security Startups

Israeli cybersecurity firm Hexadite is promoting itself as the company that would have prevented the Target hack.

Months after the Target hack, the high-profile chain store break-in—which led to tons of customers’ credit and debit card numbers being sold on the black market—is the gift that keeps on giving for security firms. A new security startup which launched today, Hexadite, is promoting itself as the company whose product would have prevented the Target breach.

According to a Hexadite press release, the company’s platform automatically judges incoming threat alerts to identify and immediately treat infected computers or systems. Although the Target hack was noted by the chain store’s security systems, corporate security did not act on it because the alerts were lost in a flood of routine security anomaly information. “"Customers are drawn to the possibility of investigating and confidently closing out cybersecurity incidents, within minutes of being alerted,” Hexadite CEO Eran Barak added.

The company, which has $2.5 million in funding and, like many Israeli security firms, leadership who served in Israel’s NSA-like Unit 8200, is the latest in a series of startups targeting the lucrative corporate market. Because system intrusions have become increasingly easy for hackers to commit, and are now integral to many forms of white collar crime and intelligence gathering, corporate security has become a popular growth area for startups. According to market researchers CB Insights, the first quarter of 2014 saw the highest rate of investment in early-stage cybersecurity companies since 2010, with huge sums being invested in companies with relatively few employees.

[Image: Flickr user Steve Snodgrass]

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