Tuesday July 18, 2017 0 comments
BOULDER -- Automox Inc. announced its launch with the close of $1.3 million in a funding round led by BlueNote Ventures with participation from New York-based Zelkova Ventures, Kansas-based Firebrand Ventures and other investors.
The investment will enable Automox to hire more development talent and increase the pace of new product feature releases, the company said.
Automox said it is the first company to offer a fully automated platform capable of patching any OS, any software, in any location, eliminating the biggest challenge associated with maintaining patch security -- staying protected against new threats.
Automox said it is providing companies of any size access to affordable enterprise-class patching technology that doesn't require additional servers or involve complex setup and configuration.
Automox said its vision is to enable every company to be 100% patched, 100% of the time.
"Patching is the single most impactful security action you can take," said Jay Prassl, Automox founder and CEO.
"Keeping systems and software consistently patched can reduce your attack surface by up to 90%. With those odds you would think everyone would patch. But the reality is that patching in a complex and geographically dispersed environment is extremely difficult, costly and time consuming."
Automox said Cisco's 2017 Cybersecurity Report found only 72 of every 1,000 threats are remediated, leaving 92% of threats unpatched and open to cyber attacks. The looming security question for corporations is not if a breach will occur but when, Automox said, and vulnerabilities -- like the one exposed by the WannaCry malware attack in May -- exist inside every company.
With Automox, companies can ensure that all of their systems and software are patched.
"For the majority of companies, unpatched systems are a huge security risk," said Chris Marks, managing director at Blue Note Ventures. "IT managers are under huge pressure to provide critical services while improving network security. Automating this critical aspect of corporate security allows IT managers to focus on other more demanding security tasks."
Prassl said he believes Automox can help companies stay compliant with cyber insurance guidelines.
"The majority of cyber policies exclude coverage for losses arising from 'failure to take reasonable steps to design, maintain and upgrade its security.' This means if you file a claim, and the audit shows that you were not patched, the claim might not get paid.
“The cost of not knowing your patch vulnerability status could be devastating."