SAN FRANSISCO, CA / ACCESSWIRE / November 17, 2022 / Cybercrime is a constant threat to companies around the world, and its impact has grown increasingly more devastating. Expert hackers have mastered stealing confidential data that can stop business operations in their tracks and leave them open to legal action. According to Statista Research, the average cost of a data breach climbed to $9.4 million in 2022. There is also a pronounced shortage of cybersecurity professionals to protect enterprises against these threats. According to a 2022 (ISC)2 Security Workforce Study, there is a global shortage of 3.4 million workers in this field.
As enterprises reliance on technology becomes more pronounced, and work from anywhere has increased the enterprise perimeter, the risks associated with cybercrime are growing exponentially and without enough skilled security professionals available to protect against them. John DeLoche, Co-Founder & Managing Partner at Invictus Growth Partners, a growth equity and buyout firm, points to companies like Binary Defense Systems, Inc., a leading Managed Detection and Response ("MDR") and enterprise defense provider, to help enterprises bridge this talent gap to protect themselves.
"Companies need the ability to quickly detect, analyze, investigate, and respond to cyber threats, and Binary Defense can protect their customers with a proactive, hacker's mindset," said John DeLoche.
With over 25 years in the private equity and cybersecurity industries, DeLoche notes that as cyber threats against businesses continue to grow, the shortage of expertise to protect them becomes more acute. While hundreds of thousands of companies have benefited from technological solutions, cybercriminals benefit just the same, patiently waiting unseen to exploit vulnerabilities and gain access to sensitive data. Cybercriminals have become more sophisticated, and businesses need more sophisticated tools to stay ahead of the evolving cybercrime landscape.
John DeLoche cites Binary Defense's ability to implement proactive and comprehensive platform technologies to ensure customers are protected against a wide range of cyberattacks. "They bring a unique combination of detection technology, cybersecurity experts, and operational best practices to the MDR space," says DeLoche.
According to Gartner, by 2025 the MDR market will reach $2.15 billion in revenue, with a compound annual growth rate of over 20%. As the market grows exponentially, Invictus Co-Founder and Managing Partner, William Nettles, states that Binary Defense has a notable portfolio of managed services that "offers the most critical cybersecurity capabilities available to help any business feel confident about their data protection."
As more businesses undergo digital transformation, so too does the need for robust cybersecurity measures. Companies in this space should plan more carefully for cyber threats, and make the necessary investments to protect both clients and valued customers.
About Invictus Growth Partners
Invictus Growth Partners is a growth equity and buyout firm that invests in bootstrapped and capital-efficient, automation-enabled cloud software, cybersecurity, and fintech companies that seek capital and strategic resources to accelerate their growth. The firm and all their professionals are based in San Francisco.
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Andrew Mitchell
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SOURCE: Invictus Growth Partners
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