Story image

Palo Alto Networks forms $20m venture fund for budding security vendors

20 Jun 17

Palo Alto Networks has announced the formation of a $20 million security venture fund that will be used to fund security applications for its Next-Generation Security Platform.

The fund, a joint effort between Palo Alto Networks, Greylock Partners and Sequoia Capital, aims to evaluate innovative security applications for potential co-investment.

The fund will be used to provide early stage capital investments for seed, early and growth-stage security companies that take a cloud-based application approach.

Those companies will then be able to accelerate their routes to market by building on Palo Alto's platform and its application framework.

Chad Kinzelberg, senior VP of Business and Corporate Development at Palo Alto Networks, says the new fund is about demonstrating its reputation for developing innovative technologies and expanding its security partner ecosystem.

"It represents an essential part of our mission to help organizations prevent cyber breaches by inspiring and accelerating a groundswell of security innovation in a model that can be easily accessed and deployed by customer organizations," Kinzelberg adds.

According to Palo Alto Networks, the provision of capital towards entrepreneurs and security vendors will help build functionality for customers, rather than developing the underlying infrastructure and data stores necessary to make that functionality work.

The company also says that customers will have more choice of cloud-delivered security applications from different providers as their security needs change.

Asheem Chandna, a partner at Greylock partnersw, says this is a 'milestone' for the security industry, entrepreneurs, developers and customers.

Jim Goetz, a partner at Sequoia Capital, adds that it will be easier to reach the market.

“Many early stage security start-ups have excellent ideas, but struggle to reach customers. By tapping into this fund and application framework, companies can get their technologies to market faster and into the hands of Palo Alto Networks customers," Goetz concludes.

How to stay safe when shopping online
Online shopping is a great way to avoid the crowds – but there are risks.
Dell EMC embeds security in latest servers
Dell EMC's 14th generation of PowerEdge servers has comprehensive management tools to provide security across hardware and firmware.
Why data backups should be a part of daily operations
"Disaster recovery needs to address complete system failure and provide a set of security policies to govern disaster incidents."
Businesses focusing on threats from within - survey
Over 50% of respondents reported that 100 days of dwell time or more was representative of their organisation.
Corelight and Exabeam partner to improve network monitoring
The combination of lateral movement and siloed usage of point security products leaves many security teams vulnerable to compromise.
SailPoint releases first identity annual report
SailPoint’s research found that many organisations are lacking maturity in their governance processes over identities.
Disruption in the supply chain: Why IT resilience is a collective responsibility
"A truly resilient organisation will invest in building strong relationships while the sun shines so they can draw on goodwill when it rains."
Businesses too slow on attack detection – CrowdStrike
The 2018 CrowdStrike Services Cyber Intrusion Casebook reveals IR strategies, lessons learned, and trends derived from more than 200 cases.