Security On-Demand Awarded Grant Funding of $2.2 Million
The National Center for Research and Development in the European Union awards Security On-Demand Research Grant to accelerate cyber threat analytics technology development
SAN DIEGO, October 15, 2020 (Newswire.com) - Security On-Demand (SOD), a leader in cyber threat detection and log analytics services, announced today the award of grant funding from the National Center for Research and Development. The EU sourced funding, equating to $2.16 M USD, will facilitate the development of SOD's proprietary Big Data analytics technology and sets the stage for SOD's further development into a leading technology innovator in the cybersecurity industry.
"We are grateful for the opportunity we've been given to use our AQ Technology core to commercialize a groundbreaking, new approach to cyber threat detection," said Peter Bybee, CEO of Security On-Demand. "The grant funding will allow us to innovate and build exciting new threat analytics capabilities, while investing in our amazing team of data scientists, mathematicians, and software developers in Warsaw, Poland."
SOD's AQ Technology is a massively scalable Big Data Analytics engine that offers several advantages over traditional technologies used in cybersecurity today. AQ Technology exceeds performance limitations of relational and columnar databases, inherently identifies and maps out anomalies within the data, and maintains a 2% storage footprint of the original raw dataset. AQ is the differentiator in its ability to detect advanced threats, find them sooner, and at a lower cost than industry competitors.
Under the EU, the National Center for Research and Development (NCBR) awards funds to a select group of companies each year to support their scientific and innovative endeavors. With the grant funding proceeds, Security On-Demand plans to build on existing AQ technology core to bring to market new threat detection capabilities and to further develop their managed threat detection and response (MDR) service, ThreatWatch®.
About the National Center for Research and Development
The NCBR Investment Fund ASI S.A. is a venture capital co-investment fund of the National Center for Research and Development, an executive agency of the Minister of Science and Higher Education based in Poland. The Fund is focused on innovative (R&D) small and medium-sized enterprises (SMEs) in the growth & expansion stage. The size of the fund amounts to over 100 million PLN (per year) and the typical investment is PLN 3-64 million.
About Security On-Demand
Security On-Demand (SOD) provides full-spectrum threat management and advanced cyber threat detection services for hundreds of businesses and government agencies globally. SOD's patented, analytics technology enables the detection of advanced threats to protect brand value and reduce the risk and mitigate the impact of a data breach. SOD is headquartered in San Diego, CA, with an international R&D office and Security Operation Center in Warsaw, Poland.
Marketing PR Manager
Source: Security On-Demand
Categories: Business Technology