Skycure Seeks to Improve Symantec’s Position in the Cybersecurity Space
Skycure marks Symantec’s second Israel-based acquisition
Earlier in this series, we discussed Symantec’s (SYMC) recent acquisition of Fireglass to expand its position in the cybersecurity space. Within a week of the Fireglass announcement, Symantec also announced the acquisition of Skycure, another Israel-based company.
Skycure is a cybersecurity company that has developed a mobile-first predictive threat detection platform for mobile devices. Financial terms of the acquisition were not disclosed.
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Skycure, founded in 2012, uses AI (artificial intelligence) and machine learning (or ML) to predict likely threats to enterprise security. These two technologies are among the key areas that are expected to drive the $13 trillion in spending forecast during the next computing cycle. It also explains why technology companies like Microsoft, IBM (IBM), and Cisco (CSCO) are competing against each other to acquire startup companies in the AI and ML space.
As businesses and consumers continue their shift toward mobile technology, Symantec is taking this opportunity to double down its efforts to promote its security offerings on iOS and Android.
Earlier this year, Skycure entered a partnership with Microsoft (MSFT) to incorporate its platform into Microsoft’s EMS (Enterprise Mobility + Security) system. To date, Skycure has raised $27.5 million in funding, and its investors include New York Life, Shasta Ventures, Foundation Capital, and Pitango Venture Capital.