devopsy.kinsta.cloud

Author: Veronica Haggar

  • SASE Continues to Roll with Revenue up 34 Percent to Top $6 Billion in 2022, According to Dell’Oro Group

    Cisco Remains Overall SASE Leader But Zscaler Close Behind

    Redwood City, CA, March 22, 2023 – According to a recently published report from Dell’Oro Group, the trusted source for market information about the telecommunications, security, networks, and data center industries, the worldwide SASE market topped $6 B in 2022, representing robust 34 percent growth year-over-year (Y/Y). In a crowded market with over 30 vendors, Cisco remained the overall SASE leader with a 17 percent revenue share, but second place Zscaler was less than 1 percent behind and closing in compared to 2021.

    “For the third consecutive year, SASE revenue growth topped 30 percent as the pandemic-fueled need to modernize the network and security architecture for branch offices and hybrid users continued,” said Mauricio Sanchez, Research Director, Network Security, and SASE & SD-WAN at Dell’Oro Group. “Single-vendor SASE solutions grew faster as a reflection of greater enterprise preference for one-stop-shop versus multi-vendor best-of-breed,” added Sanchez.

    Additional highlights from the 4Q 2022 SASE & SD-WAN Quarterly Report for full-year 2022:

    • The top 3 overall SASE vendors by revenue were Cisco, Zscaler, and Broadcom/Symantec, and together they represented just over 40 percent of the market.
    • The networking portion of SASE (SD-WAN) saw revenue climb 30 percent Y/Y as enterprise shift from access routing to SD-WAN solutions increased and supply chains for hardware substantially improved.
    • The top 3 SD-WAN vendors by revenue were Cisco, Fortinet, and VMware, and together they represented nearly half of the market.
    • The security portion of SASE (SSE – Security Service Edge) experienced 38 percent growth Y/Y as a result of enterprises’ embrace of cloud-delivered network security to secure cloud-based applications and user’s access to those applications.
    • On a technology basis, SSEs represented nearly 60 percent of the SASE market by revenue. The remainder, 40 percent, was SD-WAN.
    • Single-vendor SASE was 45 percent of the overall SASE market.
    • The top 3 single-vendor SASE vendors by revenue were Cisco, Fortinet, and Palo Alto Networks.
    • Disaggregated SASE revenue was much greater than unified SASE, but the growth rate for unified was far higher.
    • The top 3 unified SASE vendors by revenue were Versa Networks, VMware, and Cato Networks.

    About the Report

    The Dell’Oro Group SASE & SD-WAN report includes manufacturers’ revenue covering the SASE and Access Router markets. In addition, the report analyzes the SASE market from two perspectives, technology (SD-WAN networking and SSE security) and implementation (unified and disaggregated). The report also provides unit information for the Access Router market. To purchase this report, please contact us at dgsales@delloro.com.

    About Dell’Oro Group

    Dell’Oro Group is a market research firm that specializes in strategic competitive analysis in the telecommunications, security, enterprise network, and data center infrastructure markets. Our firm provides in-depth quantitative data and qualitative analysis to facilitate critical, fact-based business decisions. For more information, contact Dell’Oro Group at +1.650.622.9400 or visit www.delloro.com.

  • ConnectALL Expands Betty Knight ConnectALL Scholarship Effort with Second Award

    Betty Knight ConnectALL Technology Scholarship program recognizes outstanding students’ STEM education, military commitment

    Atlanta, GA, March 02, 2023  — ConnectALL, a leading provider of value stream management (VSM) solutions, today announced the expansion of the Betty Knight ConnectALL Technology Scholarship program. This year, ConnectALL is adding a second scholarship as it renews financial support for the first recipient. University of North Georgia (UNG) cadet Jaden Davidson is receiving the second scholarship and the inaugural award, which was made to UNG student Jazmyn Archer, is continuing for a second year.

    “My grandmother, Betty Knight, was an early tech pioneer when women in the field were few,” ConnectALL President and COO Lance Knight said. “The goal of this scholarship program is to encourage all interested students to tap into the enormous opportunities that come to those with a STEM education. ConnectALL is honored to be able to recognize these outstanding students and support their educational goals.”

    Davidson, an 18-year old sophomore from Dallas, Georgia, is pursuing a dual degree in cybersecurity and Chinese. In addition to maintaining a 4.0 GPA, this cadet serves as the chapter secretary for the UNG branch of the Armed Forces Communications & Electronics Association International. Last year, she traveled to Taiwan to participate in a cadet exchange program. Davidson plans to commission into the Army and pursue Cyber Command or Military Intelligence.

    “I plan to utilize my cybersecurity and Chinese degree in the U.S. Army, in addition to pursuing other independent ventures,” Davidson said. “With the continued global growth of online operations, I intend to serve in a public service position.”

    Last year’s scholarship recipient from Lawrenceville, Georgia, Archer is a junior at the University of North Georgia (UNG) Gainesville campus pursuing a degree in Computer Science.

    The Betty Knight Legacy
    Betty Knight entered the IT field late in life, beginning with a personnel job at the GE Light Military Electronics Division (LMED) in Utica, New York. Knight took the IBM Programmers Aptitude Test (PAT) as a “control” and aced it, kickstarting a career that spanned nearly three decades. During that period, her achievements included designing an early timesharing network architecture, starting an online Seniors’ Forum that became the AARP, and creating and managing a version of Microsoft MSN Online designed specifically for senior adults.

    About ConnectALL
    ConnectALL is a value stream management company that helps organizations see, measure, and automate their software delivery value streams, and achieve higher levels of agility, traceability, predictability, and velocity. ConnectALL’s services and solutions help organizations to connect people, processes, and technology across the software development and delivery value stream. ConnectALL was named a Strong Performer in The Forrester Wave™: Value Stream Management, Q4 2022 and has been recognized as the Best Value Stream Management Tool in 2023 DevOps Dozen. The SD Times has included ConnectALL in its “Best in Show” for the Value Stream Management category for the last 4 years. ConnectALL was also named a “Best Tech Startup” Finalist for the 2022 Timmy Awards and was listed as a key vendor by Forrester in its report “The Value Stream Management Landscape, Q3 2022”. ConnectALL’s thought leaders have been featured in Tech Beacon, Gemba Academy, and Forbes and continue to be recognized by numerous third-party analyst firms as key players in value stream management. Visit us at https://www.connectall.com.

  • DevOps Done Right: How to Succeed in DevOps From Day One

    DevOps Done Right: How to Succeed in DevOps From Day One

    Whether you are diving into DevOps for the first time or trying to do it right this time, DevOps Onramp provides all the information you need for a successful DevOps journey. Join us on May 4, 2023, to learn how to get started with DevOps—and how to do it right.

    You’ll learn:

    • DevOps best practices, processes and the tools you’ll need
    • Tips and tricks from experienced practitioners sharing their real-world experiences
    • The basics of DevOps
    • How to choose the right technologies
    • Common challenges and how to overcome them
    • The benefits of DevOps as a methodology and a career
    • And more!

    As organizations face increasing pressure to adapt faster and become more agile, getting DevOps right and adopting a DevOps mindset is crucial to deliver high-quality software faster and increase business value. And that opens up great opportunities for anyone looking to start a new career or pivot from an existing role in technology.

    DevOps has become the standard of software development methodologies and it’s critical for successful digital transformation. Adopting DevOps—and doing it the right way—can benefit not only your organization but also your customers and end users by fostering innovation, reducing time to market, increasing development productivity, improving product quality and reliability and reducing costs.

    That’s why many big companies, such as Amazon, Netflix, Facebook and many others have adopted a DevOps mindset—and DevOps practices. And as more businesses are looking to move to the cloud and transition into DevOps, there are plenty of job opportunities available for DevOps engineers at various levels.

    DevOps is a growing field with a lot of opportunities for professional growth. According to a research study by Global Market Insights Inc., the DevOps market is expected to surpass $30 billion by 2028. Due to the high demand for skilled DevOps engineers and the shortage of qualified DevOps professionals in the industry, there is no better time to upskill than now.

    Whether you are diving into DevOps for the first time or trying to do it right this time, DevOps Onramp provides all the information you need for a successful DevOps journey.

    At DevOps Onramp Virtual Summit, taking place on May 4, 2023, you’ll get all the knowledge you need to get started with DevOps —and how to do it right. Join us to learn about DevOps best practices, processes and tools and get tips and tricks from experienced practitioners sharing their real-world experiences. We’ll go through the basics of DevOps, how to choose the right technologies, common challenges and the benefits of DevOps.

    One thing is for sure: The future of DevOps is very promising. The rush has started—don’t be left behind!

    DevOps Onramp Virtual Summit - Submit your talk

    If you’re interested in becoming a sponsor, please contact us. For more information, please visit the DevOps Onramp website.

  • ClearML Releases New Reports Feature to Share Real-Time Results of Machine Learning Projects and Ignite ML Collaboration Across the Enterprise

    Tel Aviv, IL, January 19, 2023 – ClearML, the leading open source, end-to-end MLOps platform, today announced it has released a new Reports feature that is now generally available. This new feature makes it easy to create and share real-time reports within ClearML as well as connect to third-party editors such as Confluence, Monday, Notion, Colab (Jupyter), and others using embed code. A report can contain charts that auto-update continuously throughout an experiment lifecycle.

    ClearML users can now easily create, collaborate on, and share reports, as well as graphs and charts, in order to summarize and explain experiments and how model versions improve,  analyze results, show experiment comparisons, discuss bugs, demonstrate progress towards milestones, and publish their work.

    “Reporting and showcasing your findings to colleagues, managers, or even your future self is a core component of any modern collaborative workflow,” said Moses Guttmann, Co-founder and CEO of ClearML. “Having one central place where you can seamlessly  report, analyze, plan, and collaborate on your work in real time makes it that much easier. ClearML-Reports connects seamlessly with existing ClearML functionality and is based on markdown, so it’s very easy to export or connect to an external reporting tool.”

    Features and Benefits of ClearML Reports

    The new ClearML Reports feature was designed with a multitude of functionality in mind, including:

    • Creation: It’s now easy to write reports using markdown language, and there is a handy markdown cheatsheet to get started. Reports can be filtered by tags or archived like datasets or experiments.
    • Visualization:  Users can embed scalars, plots, or debug samples from the ClearML experiment manager right into the markdown editor with preview updates. They can even embed descriptive statistics of their datasets or comparisons graphs from multiple experiments — what’s important is that these are not HTML exports, but are still connected to the back-end such that when new data comes in, it will be visible after a report refresh.
    • Team Collaboration: Teammates with ClearML logins can edit reports that are not published as read-only. Reports are also searchable based on their descriptions.
    • Sharing of Reports: Users can share on-platform with others who have a ClearML login and can export to PDF for a time-bound report to share with anyone else. Publishing the report will make it read-only, so it can be used as a single source of truth among colleagues. Users can easily export your reports out of ClearML as markdown or PDF.
    • External Tooling Integration: Many users and their teams each have their own workflows with their own toolchains. By not limiting the reporting functionality to only ClearML reports, users can easily integrate ClearML elements into their favorite third-party reporting tools, like Notion, Confluence, Monday, and others.

    “Reporting our findings on the weekly standups was quite manual,” said Omri Bar, AI Research Team Leader at Theator, the creator of  Surgical Intelligence. “I’d have to jump around between experiments, moving from one plot to another, narrating what was interesting about the graph in question. That’s not very easy for my colleagues to follow along with. Now I can prepare a neat report ahead of time, with all the interesting parts embedded inside, important notes right next to them, cleanly organized by topic. It has made our communication much smoother.”

    See the power of ClearML Reports for yourself by watching the overview video now.

    Get started with ClearML by using our free tier servers or by hosting your own. Read our documentation here. You’ll find more in-depth tutorials about ClearML on our YouTube channel and we also have a very active Slack channel for anyone that needs help. If you need to scale your ML pipelines and data abstraction or need unmatched performance and control, please request a demo. To learn more about ClearML, please visit: https://clear.ml/.

    About ClearML

    ClearML is a unified, open source platform for continuous machine learning (ML), trusted by forward-thinking Data Scientists, ML Engineers, DevOps, and decision makers at leading Fortune 500 companies, enterprises, academia, and innovative start-ups worldwide. We enable customers to build continuous ML workflows — from experiment management and orchestration through data management and scheduling, followed by provisioning and serving — to achieve the fastest time to ML production, fastest time to value, and increased performance. In this way, ClearML accelerates ML adoption across business units, helping companies reach their revenue potential and materialize their ML investments. With thousands of deployments and a vibrant, engaged community, ClearML is transforming the ML space — bridging software, machine learning, and automation. To learn more, visit the company’s website at https://clear.ml.

  • Newgen Recognized in 2023 Gartner® Magic Quadrant™ for Enterprise Low-Code Application Platforms for Third Year in a Row

    NewgenONE digital transformation platform recognized for its ability to execute and completeness of vision

    McLean, VA, January 17, 2023 – Newgen Software, a global provider of digital transformation platform, announced that NewgenONE has been positioned as a Niche Player in the 2023 Gartner® Magic Quadrant™ for Enterprise Low-Code Application Platforms. The report evaluated 17 low code application platform providers and recognized Newgen for the third time in a row.

    “An Enterprise Low-Code Application Platform is an application platform that is used to rapidly develop and deploy custom applications by abstracting and minimizing or replacing the coding needed in development. At a minimum, an LCAP must include low-code capabilities (such as a model-driven or graphical programming approach with scripting) to develop a complete application, support for developing applications consisting of user interfaces, business logic, workflow and data services, and simplified application test, deployment and management,” per Gartner.

    “We believe this recognition from Gartner further validates our capabilities to empower enterprises by automating complex process and managing content at scale. Using Newgen’s Low Code Platform based on a modern architecture of microservices and AI/ML, we will continue to innovate for customers.” said Virender Jeet, CEO, Newgen Software.

    Download the complimentary copy of the Gartner report to know more.
    Disclaimer: Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

    Gartner and Magic Quadrant are registered trademarks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.

    About Newgen Software Technologies Limited
    Newgen is the leading provider of a unified digital transformation platform with native process automation, content services, and communication management capabilities. Globally, successful enterprises rely on Newgen’s industry-recognized low code application platform to develop and deploy complex, content-driven, and customer-engaging business applications on the cloud. From onboarding to service requests, lending to underwriting, and for many more use cases across industries. Newgen unlocks simple with speed and agility.
    For more details, visit www.newgensoft.com

  • The Netherlands Commits $10 Million for UNCTAD’s Work on the Digital Economy and Business and Investment Facilitation

    The country’s ministry of foreign affairs, trade and development cooperation will provide the funds during the period 2023–2026

    Geneva, SWITZERLAND, January 17, 2023 – The Netherlands will provide $10 million to UNCTAD to help developing countries benefit more from e-commerce and the digital economy and facilitate business and investment.

    UNCTAD Secretary-General Rebeca Grynspan and H.E. Ms. Liesje Schreinemacher, Minister for Foreign Trade and Development Cooperation of the Netherlands, signed an agreement on 17 January for the financial contribution.

    “We greatly appreciate the Netherlands’ increased support for our work on e-commerce and the digital economy, and business and investment facilitation,” Ms. Grynspan said.

    She said the support underscores the growing importance of digitalization for inclusive and sustainable development in a time of multiple global crises.

    Ms. Schreinemacher said: “The Netherlands appreciates UNCTAD’s contribution to global digitalization and linking it to improving business and investment opportunities. We are therefore happy to continue our support and hope other donors will follow the Netherlands in its support for this important programme”.

    Bridging digital and data divides

    According to the agreement, $6 million will be dedicated to research and technical cooperation activities under UNCTAD’s e-commerce and digital economy programme.

    The funds will support the integration of developing countries into the digital economy and enable the benefits of digitalization to reach all people and businesses.

    While the COVID-19 pandemic revealed the growing importance of e-commerce, it also exposed digital and data divides between developing and developed countries. The funds will boost UNCTAD’s capacity to meet this growing demand for e-commerce and help bridge the divides.

    The Netherlands’ long-standing support to the programme has contributed to building more gender-inclusive digital economies and fostering partnerships to support e-commerce development in low-income countries.

    Its support for the eTrade for Women initiative has been instrumental in strengthening more than 200 women-led digital businesses.

    Strengthening business and investment facilitation

    A further $4 million will fund UNCTAD’s efforts to strengthen digital government services for micro- and small and medium-sized enterprises (MSMEs) and international investors.

    It will also support enterprise development, accounting and reporting for MSMEs to strengthen business facilitation.

    To boost investment, UNCTAD will use the funds to help strengthen facilitation mechanisms and institutions promoting both national and international investment policies.

    The Netherlands’ support has so far strengthened digital business and investment facilitation in six countries in Africa and one each in Asia and Latin America.

    It has supported the formalization of more than 400,000 MSMEs and contributed to key publications including UNCTAD’s SDG Investment Trends Monitor and its policy guide on foreign direct investment and gender equality.

    About UNCTAD

    UNCTAD is the UN trade and development body. It supports developing countries to access the benefits of a globalized economy more fairly and effectively and equips them to deal with the potential drawbacks of greater economic integration.

    It provides analysis, facilitates consensus-building and offers technical assistance to help developing countries use trade, investment, finance and technology as vehicles for inclusive and sustainable development.

  • Bitrise Expedites Neo Financial’s Mobile App Build Time and Delivery

    Bitrise Automates Mobile App Deployment for The Fintech Unicorn, Allowing It to Release Features Weekly to Apple and Android Marketplaces

    San Francisco, CA, January 12, 2023 — Bitrise, the Mobile DevOps company whose platform maximizes the overall business impact of apps for the world’s most sophisticated mobile organizations, today announced the results of its work to automate mobile app development for Neo Financial, Canada’s next-generation financial technology company. Working with Bitrise, Neo has significantly cut its build time for mobile processes, allowing its team to release more frequent mobile features. Neo has over one million members, and is one of the fastest Canadian companies to reach ‘unicorn’ status following its $145M Series C funding round in May of 2022.

    For hundreds of years, Canada’s banking landscape has been dominated by five major incumbent financial institutions that hold over $4 trillion of the country’s assets. But, despite their long-standing history, these banks have been slow to digitize and introduce new capabilities. This ultimately formed a void between Canada’s financial offerings and the evolving demands of today’s mobile consumer.

    For a newcomer to bridge this gap, bringing banking outside the confines of brick-and-mortar buildings and onto consumer-friendly mobile platforms was only the first step. It also required addressing features like account security, easy-to-understand transaction details, and credit score monitoring that Canadians consider most valuable in a mobile banking experience, according to Insider Intelligence.

    Through its partnership with Bitrise and its second generation GEN2 machines, Neo saw further efficiencies throughout its mobile development and release processes and has increased the app’s frequency of feature releases and app updates to a weekly cadence.

    “Reimagining the way Canadians bank is no small undertaking, and our partnership with Bitrise has enabled our team to not only accelerate our mobile development and release time, but focus our resources on building innovative products and features for all Canadians,” said Kris Read, Co-founder and CTO, Neo Financial.

    Investors have recognized Neo’s release speed as its key differentiator in today’s crowded fintech market. According to Andrew McCormack of Valar Ventures, the pace Neo releases new products is among the fastest Valar Ventures has seen, and, “as a result, Neo can be the biggest disruption the Canadian banking industry has seen in decades, and their influence on financial services available to Canadians will impact the lives of millions.”

    With the support of Bitrise’s automation, Neo’s engineering team continues to expand their products and features. In addition to standard banking and savings offerings, Neo’s mobile app now includes everything from Buy Now, Pay Later (BNPL) options for consumers and businesses, to Canada’s first fully digital and actively managed investment experience, and an online mortgage product with renewal and refinancing options.

    “A mobile app is no longer just an accessory for banks. In order to succeed, mobile needs to become a prominent aspect of banks’ business models,” said Barnabás Birmacher, CEO of Bitrise. “Neo’s success shows that, when development is handled efficiently, mobile has the power to transform the banking industry.”

    Bitrise works with more than 6,000 companies worldwide to deliver on the growing demand for mobile products. For fintech companies, this means automating vital stages of the app development lifecycle including regular security checks and testing to prevent bugs and delayed delivery of new mobile features.

    About Bitrise

    Bitrise is a Mobile DevOps company, whose platform is used by more than 6,000 businesses to maximize the business impact of their mobile apps. Working with Bitrise, the world’s most sophisticated mobile organizations get their apps to market faster, improve security and keep up with constantly changing mobile requirements. Bitrise enables organizations to automate testing, accelerate build times, and quickly understand how new pieces of code will affect live apps. Customers such as Transferwise(now “WISE”), Virgin Mobile, Grindr, Tag Heuer, Compass, Mozilla, Philips Hue, Babbe, Neo Financial and others use Bitrise to rapidly respond to the changing mobile landscape. Bitrise is a Y Combinator company, headquartered in Budapest, with offices in London, San Francisco, Boston and Osaka.

  • SingularityCE Container Technology Is Now Available in the EPEL Repository

    Reno, NV, January 11, 2023 – Sylabs, the global leader in providing container technology and services for performance-intensive workloads, today announced that SingularityCE is now available in the Extra Packages for Enterprise Linux (EPEL) repository, a repository of additional packages for Enterprise Linux distribution (such as Alma Linux, CentOS, Red Hat Enterprise Linux (RHEL), Scientific Linux and Rocky Linux). With its inclusion in the EPEL repository, SingularityCE is now easily accessible to users of Enterprise Linux distributions, giving developers access to the most advanced and widely used container runtime technology for performance-intensive applications and environments.
    Singularity, maintained since 2017 as an open source project by Sylabs and a community of developers, is an advanced container technology designed for users who run mission-critical data science, artificial intelligence (AI), and compute-driven analytics on performance-intensive systems. These users need the flexibility to package complex applications and libraries into one scalable container that can be moved to different systems/hardware environments without breaking – and while maintaining security protocols. Singularity’s unique security model, built for mitigating privilege escalation risks in multi-tenant environments while being able to capture a complete application environment into a single file, makes it an ideal solution for advanced computing workflows.
    “Many developers in enterprises with growing performance-intensive computing needs are finding that the container tools that they’re familiar with aren’t built for the needs of larger, scale-out environments,” said Adam Hughes, CTO of Sylabs. “Sylabs is excited to bring the SingularityCE to the EPEL repository. It’s now easier than ever for developers using Enterprise Linux to access the powerful container technology that researchers, scientists and engineers engaged in the world’s most cutting-edge research use to simplify the movement of their applications across environments, spanning from laptops and complex cloud environments to sophisticated HPC computing systems.”
    Typically in performance-intensive computing environments, application packages need to move across systems for testing and development before moving into the more costly production environment. Additionally, there are security concerns with these larger shared systems with multi-tenant environments. Standard enterprise containerization solutions aren’t built to handle many of the challenges of larger scale-out environments, causing developers to run into errors and unplanned delays that impact the speed of development. Designed to operate with the needs of these environments, Singularity enables high portability with sensitive scale-out systems and applications and addresses an array of security concerns while maintaining ease of use.
    SingularityCE is available as open source software. Sylabs provides licensing, enterprise-level support, professional services, cloud services, and value-added tooling for organizations seeking help with containerization in their performance-intensive compute environments. These services and tools include compliance and risk management, defined product life cycles for planning refreshes and upgrades, an easy onramp to adoption and system management through per-node licenses, and long-term support for stability and reliability.
    For more information on Singularity and Sylabs, please visit https://sylabs.io/.
    About Sylabs
    Sylabs is the global leader in providing professional tools and services for high performance container runtime technology. Sylabs makes high performance computing more accessible to researchers, scientists, and engineers using Singularity, the most advanced open source container runtime technology for performance-intensive applications and environments. As the most active contributor to the Singularity ecosystem, through both the community edition and Sylabs’ enterprise-supported and professional implementations, Sylabs is dedicated to enabling cutting-edge research and facilitating rapid scientific discovery to solve some of humanity’s greatest challenges. For more information about Singularity runtime technology, including SingularityCE (Community Edition), Singularity Container Services, SingularityPRO, and Singularity Enterprise, visit https://www.sylabs.io.
    All trademarks, logos and brand names are the property of their respective owners. All company, product and service names used in this press release are for identification purposes only. Use of these names, trademarks and brands does not imply endorsement.

  • Traceable AI Addresses Newest FFIEC Compliance Guidelines Highlighting API Security for Financial Institutions

    Company provides required API security measures to meet 2023 cybersecurity mandates 

    San Francisco, CA, January 10, 2023 — Traceable, the industry’s leading API security and observability company, today announced it is providing the necessary API security measures to enable FDIC-insured financial institutions to meet the latest Federal Financial Institutions Examination Council (FFIEC) cybersecurity compliance mandates.

    On October 3, 2022, the FFIEC announced a significant update to meet cybersecurity mandates for financial institutions. This update explicitly calls out APIs as a separate attack surface in regulatory guidelines that represents a significant shift in compliance trajectories, and highlights the increased threats that APIs pose. The FFIEC specifically created these new guidelines prompting financial institutions to inventory APIs as part of their overall inventory of information systems and risk assessments.  For example, banks utilize APIs with their digital banking services and information system access points, making the sharing of data easier, and the customer banking experience better.  However, as a top attack vector, APIs, when not carefully identified and secured, can be compromised in seconds – putting businesses and their customers’ sensitive data at significant risk.

    “This year will be a reckoning for financial institutions.  With an average of three banking-related APIs connected to customers, now is the time to understand your APIs and act immediately to protect your data and your customers,” said Richard Bird, Chief Security Officer at Traceable. “We have been working with large financial institutions to assess their APIs, enabling them to fully understand their threat posture.  Most are shocked by the results. This initial shock is certainly the trigger for them to get a comprehensive picture of the APIs they have – current and legacy as well as internal and external.  Knowing this enables them to act immediately.”

    APIs are now the primary attack vector for data breaches, and Traceable is working closely with the top financial institutions to enable them to take the first step in securing their APIs – as required by FFIEC. Traceable discovers and identifies all APIs – internal, external, third-party and partner APIs, with its data-rich catalog, for comprehensive and real-time visibility into clients’ entire API ecosystem and API sprawl.

    With Traceable’s approach, financial institutions can immediately:

    o    Take Continuous API Inventory: Instantly identify and catalog all APIs in your environment including internal, external, third-party and partner APIs. API types include GraphQL, SOAP, HTTP, RESTful, XML-RPC, JSON-RPC, and gRPC, and more.

    o    Understand API Risk Posture: Traceable provides a security risk score to every API, which allows organizations to determine which APIs are most vulnerable to abuse by collecting data on runtime details such as sensitive data flows, API call maps, API usage behavior, user details, event details, threat activity levels, and more.

    o    Identify Sensitive Data Exposure: Since APIs potentially expose highly sensitive information, and transmit that data from internal APIs to third-party applications, it is imperative to know the sensitive data flow end-to-end, to understand the level of exposure.

    o    Benefit from Automatic Conformance Scanning and Analysis: An important part of API discovery and inventory of APIs, is knowing if development specs match the APIs that are implemented in production environments.

    This can all be accomplished with Traceable’s flexible data collection and deployment options, including the option of deploying 100 percent on-premise in an air-gapped model, or SaaS, or hosted in your own AWS, GCP, and Azure cloud.

    Financial institutions can see where they stand immediately with Traceable’s free API security risk assessment to better evaluate and understand the risks posed by APIs in their environment.  Additionally, Traceable will be hosting a webinar focused on the FFIEC mandates. To attend, please register here.

    About Traceable
    Traceable is the industry’s leading API security platform that identifies APIs, evaluates API risk posture, stops API attacks, and provides deep analytics for threat hunting and forensic research. With visual depictions of API paths at the core of its technology, its platform applies the power of distributed tracing and machine learning models for API security across the entire development lifecycle. Visual depictions provide insight into user and API behaviors to understand anomalies and block API attacks, enabling organizations to be more secure and resilient. Learn more at traceable.ai.

  • Chronosphere Raises $115M in Additional Series C Funding at a $1.6 Billion Valuation

    Following a year of record growth, Chronosphere welcomes new investors GV (formerly Google Ventures) and Geodesic Capital as existing investors double down on company’s cloud-native observability platform 

    New York, NY, January 10, 2023 — Chronosphere, the only cloud-native observability platform that puts engineering organizations back in control by taming rampant data growth and cloud-native complexity, has raised an additional $115 million Series C funding. New investors include GV (formerly Google Ventures) and Geodesic Capital, bringing Chronosphere’s total funding to $343 million, and increasing the company’s valuation to $1.6 billion. Existing Chronosphere investors also participated in the round including: Addition, Founders Fund, General Atlantic, Greylock, Glynn Capital, and Lux Capital. The round will support continued innovation and go-to-market efforts for its market-leading cloud-native observability platform.

    The funding comes on the heels of a record year for Chronosphere. As of their most recent quarter, Chronosphere tripled its ARR and headcount, attained greater than 145% net revenue retention, retained 100% of its customers, and was named to Otta’s “ROCKET LIST 2022 – 100 of the fastest-growing companies to accelerate your career.”

    Chronosphere also chalked up key wins at Robinhood, Snap, Obsidian Security, and Astronomer who join Chronosphere’s growing list of enterprise customers that include DoorDash, Zillow, and Visa.

    “Chronosphere’s game-changing platform gives us the visibility and control to manage our observability data, especially with our unprecedented growth, ” said Ryan Sokol, VP of Engineering at DoorDash. In fact, customers that use Chronosphere’s cloud-native observability platform, which enables customers to transform their data based on the need, context, and utility to optimize costs, improve user experience, and solve problems faster. The average customer optimizes their data set by 48% for significant additional cost savings.

    DoorDash’s success is in line with results from a recent Total Economic Impact™(TEI) study, conducted by Forrester Consulting on behalf of Chronosphere. The study examined cost savings and business benefits enabled by Chronosphere, and found that customers using the company’s cloud-native observability platform returned on average $7.9 million in benefits over three years. During the same timeframe, companies on average also saw $4.9 million in cost savings for 165% return on investment, with an average payback period of less than six months.

    “In a cloud-native world where businesses are looking for both efficiency and effectiveness, there’s a dire need for organizations to get observability right,” said Sangeen Zeb, Partner at GV. “Chronosphere has cracked the code to tame the data deluge in complex environments and provides better tools that quickly sift through the most meaningful data for better customer experiences and business outcomes.”

    “This funding underscores the crucial market need for powerful cloud-native observability solutions to generate positive business outcomes–especially critical now as companies seek more efficient and effective ways to improve customer experiences,” said Chronosphere CEO and co-founder, Martin Mao. “We plan to use this latest investment to bring our forward-looking observability solution to the broader market as we continue to disrupt legacy solutions that provide too little, too late for too much cost.”

    About Chronosphere 

    Chronosphere is the only cloud-native observability platform that puts engineering organizations back in control by taming rampant data growth and cloud-native complexity while accelerating innovation. Faster alerts and issue resolution ensures responsive and reliable cloud-native workloads underlying the most valuable services at leading organizations like DoorDash, Robinhood, and Abnormal Security. Teams at organizations of all sizes trust Chronosphere to help them drive competitive advantage and world-class customer experiences while reducing engineering burnout and eliminating lock-in. Chronosphere is a remote-first company, backed by Geodesic Capital, GV, Glynn Capital, Greylock, Lux Capital, General Atlantic, Addition and Founders Fund. For more information, visit https://chronosphere.io or follow @chronosphereio.