Abstract Security Emerges from Stealth; Raises $8.5M to Forge the Complete AI-Powered Data Streaming Platform for Security

News provided by

Mar 26, 2024, 07:00 ET

Abstract gives security analysts a powerful algorithmic assistant to centralize the management of security analytics and tie security efforts to business value

SAN FRANCISCO, March 26, 2024 /PRNewswire/ -- Abstract Security, crafted by category creators who have consistently redefined the cybersecurity landscape, emerged from stealth today, unveiling its revolutionary platform designed to centralize the management of security analytics. With an oversubscribed $8.5 million seed funding round led by Crosslink Capital, Rally Ventures and Liquid 2 Ventures, Abstract has built an entirely new AI-powered paradigm for security teams that transcends next-gen SIEM solutions. The platform correlates data in real-time between data streams and separates compliance and security data to both increase detection effectiveness and lower costs.

Security analytics today is a complex patchwork of products that don't deliver business value. The majority of data being collected by security analysts is not useful or relevant for detection scenarios. Meanwhile, the stakes are only getting higher: adversaries are taking less time to compromise organizations – 62 minutes, on average – and the average cost of data breaches has risen to 4.45 million, a 15% increase over 3 years. The SIEM market emerged over 20 years ago with promises to address real-world security challenges, but as the industry evolved, its weaknesses became apparent. Despite advancements like next-gen SIEM and XDR, the category continues to experience growing pains: costs have surged and security analytics have been reduced to saved searches and dashboards, without the power of correlation.

"Current SIEM detection is largely ineffective and the capabilities afforded to analysts to leverage true correlation and analytics have hit an all-time low. For most organizations, this has become inefficient and impractical. And as an industry, we cannot keep building on a broken premise," said Colby DeRodeff, co-founder and CEO of Abstract Security. "The future of detection is fundamentally understanding the data sources and having detection engineering baked into the platform with powerful analytics. We help customers differentiate what data is important to their organization, and then we give them a roadmap to become more effective at detecting and mitigating threats."

The Abstract platform is architected differently and abstracts away the operational weight of security platform engineering by:

Bifurcating compliance and security use cases: Compliance is killing security: 95% of collected log data is not usable for detection. The Abstract Security data platform allows for security data to be separated from the compliance and observability data to save money, resources and time, and it lets analysts focus on the threats that matter.
Providing security analysts with more powerful tools: It's time to move past saved searches and dashboards. Abstract leverages real-time streaming, correlation and machine learning with pre-built and user-defined detection rules to show correlation between data streams.
Reducing immense compute and storage costs: Organizations are losing data to vendor lock-in, and they're buried in such a high volume of logs that their data costs have become unreasonable. Abstract provides a one-click data lake on a privacy first architecture that reduces the overall cost of ownership.

"Abstract's data-centric approach represents the future of detection," said Matt Bigge, partner at Crosslink Capital. "We are excited to partner with Colby, Ryan and the entire Abstract team to contribute to a new paradigm in security: an approach that enables analysts to align security efforts to business value."

For those interested in getting early access to Abstract's platform, please contact [email protected] for more information.

About Abstract Security
Abstract Security, founded in 2023, created a revolutionary platform equipped with an AI-powered assistant to better centralize the management of security analytics. Crafted by category creators and industry veterans known for redefining the cybersecurity landscape, Abstract transcends next-gen SIEM solutions by correlating data in real-time between data streams. As a result, compliance and security data can be leveraged separately to increase detection effectiveness and lower costs – an approach that does not currently exist in the market.

Co-founders Colby DeRodeff, Ryan Clough, and Aaron Shelmire bring a unique set of experiences and backgrounds in product development and company-building expertise, formerly at companies like ArcSight (acq. by HP), Mandiant (acq. by Google), Palo Alto Networks and others. For more information about the company, please visit https://www.abstract.security/ and follow the journey @Get_Abstracted.

SOURCE Abstract Security