Symantec has formed a new business segment named Symantec Ventures, which is going to fund cybersecurity startups having the potential to evolve from ideas to profits. The announcement came as a surprise to many, but the antivirus software has proclaimed with this move that it’s in a mood to eliminate all the cyber threats once and forever.
Furthermore, Symantec Ventures is also going to provide ideas which will help startup companies reduce expenses and accelerate their time to market.
This means, all those entrepreneurs who would love to explore the business of cyber security will also get the privilege to access the Symantec Technology including Integrated Cyber Defense Platform for business and Digital Safety Platforms- for consumers.
“The idea to launch Symantec Ventures is to catalyze innovation in the space of cyber security”, said Symantec CEO Greg Clark. He added that the new venture will allow startups build on their own with the help of Symantec’s extensible product portfolio related to Integrated Cyber Defense Platform.
It will also help all the 385,000 enterprise customers of the California-based software giant to tap into the rich ecosystem of cognitive content in the marketplace and permit entrepreneurs to cut down their time to flourish in the marketplace.
The idea to introduce a new funding arm for cybersecurity startups emerged for Symantec in June’16, when it acquired Blue Coat for $4.6 Billion and Appthority. The American company has announced that both its newly acquired companies will provide a model for venture members to follow.
Symantec Ventures will also help startups access threat intelligence data which can be used for product testing, machine learning algorithm training, validation and AI system creation.
Note- Symantec Corporation is an American software company which produces software related to security, storage, backup, and availability.
Thus, security experts from all over the world feel that ventures such as the one specified above will help in eliminating threats related to cyber security in an innovative way.
So, Cybersecurity Insiders salutes to the latest venture of Symantec and hopes that more such tech giants will come forward and encourage new startups which help in building a threat free cyber space.
