Following the Colonial Pipeline incident in 2021, Jon Miller and Ryan Smith wondered why, with the widespread adoption of security tools, ransomware was still growing exponentially.
It’s an odd dichotomy. Seventy-eight percent of companies responding to a recent survey said that they plan to increase their investments in cybersecurity in the next 12 months. But at the same time, ransomware damages are expected to exceed $30 billion worldwide in 2023.
Frustrated with the status quo, Miller and Smith — veterans of Blackberry and Optiv, as well as cyber defense contractor Boldend — founded the cybersecurity startup Halcyon. They claim it can help stop ransomware from causing damage while enabling companies to lower their overall recovery times.
It’s a...
