Volume 1, Number 10
SlashNext Technology Protects Networks Against
More Than Malware
By Hacienda Pulse Staff Writer
Maintaining network security is a huge problem for companies both large and small. This past June a piece of malicious software, or malware as it is known, caused havoc for several global companies. They include pharmaceutical giant Merck and Maersk, the world’s largest container shipping company.
The sophisticated malware, called NotPetya, exploited a flaw in Microsoft’s Windows operating system that allowed it to spread throughout a company’s network. The NotPetya cyber attack disrupted Maersk’s shipping operation for several weeks at an estimated cost of $300 million, according to the company.
Some people may believe that malware is the only threat to a company’s network security. In fact, every business network faces a variety of threats from the Internet, and many of those threats are missed by conventional network security approaches. That is why SlashNext created the Internet Access Protection System. In addition to malware, this new network security service can detect callbacks, exploits, and Internet-based social engineering attacks such as dangerous links contained in an email designed to appear to be from a trusted company or colleague.
One SlashNext customer faced ongoing social engineering attacks even though the customer had invested a great deal of time in employee training. “By implementing our solution, the customer was able to solve this problem with a technical solution instead of relying on employees to identify attacks,” says Jack Miller, SlashNext Chief Information Security Officer. Social engineering attacks are rapidly becoming the most common type of Internet access attacks, according to Miller.
SlashNext is a new member of the Hacienda community. The startup moved to Hacienda earlier in the year after raising $9 million from investors in response to its new service.
“Existing cyber security solutions are demonstrably failing to catch malware, as well as a wide range of socially engineered attacks launched via social media, email and messaging apps,” notes venture capital firm Wing, which is an investor in SlashNext. “At the same time, companies are struggling to deal with the flood of alerts they receive from their existing security solutions. There’s simply too much signal around, and businesses lack the skilled personnel and processes needed to deal with this issue effectively.”
The Internet Access Protection System is meant to address those issues. “Our solution can be installed in 20 minutes, doesn’t require any security expert to manage it, and only alerts on stuff that matters,” says Miller.
Despite all the media attention that cyber attacks receive, “most organizations are still implementing the same types of protections that have failed us for the last 20 years,” notes Miller. He says people outside of the industry might be surprised by how slowly most companies and government organizations are adapting to the increasing threats posed by the Internet.
The company expects to have about 15 employees at its main office in Pleasanton. It also has small offices in the Central, Midwest, and Northeast regions of the United States as well as an office in Pakistan. For more information about SlashNext, visit www.slashnext.com.