US: Funding soars for security start ups

May 13, 2013

Tech site Gigaom reports that the IT security start ups are increasingly the target of venture capitalists. According to the site, in the first quarter of 2013, VCs ploughed $353 million into IT security deals, up 90 percent over the same quarter in 2012, according to MoneyTree Report data from the National Venture Capital Association. “If you divide the total funding by the number of deals, the average amount was more than $16 million, up 125 percent over the $7.1 million amount in the first quarter of 2012.” it reports.

It sees advantage too in what it describes as “the intersection of big data and security”. It says that companies want to derive insights on increasing and more complex data sets that can lead to overhead reductions and new revenue streams.

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UK: Chief security officers on the rise

May 13, 2013

Information Age reports that Chief Security Officer appointments are on the rise, reflecting the growing awareness of malicious cyber events in UK industry.

The CSO, it reports is accountable not only for IT security policies, but also for improving the operational efficiencies of the business and implementing risk management plans.

The trend was highlighted in a report by the Giga Information Group according to Information Age. It quotes Steve Hunt, a security expert at Giga. “Prior to 2001, the position of CSO was thought of as rather peculiar. But security is best treated as a business process with one person responsible for coordinating the various security initiatives across an organisation.” he said.

Giga Information Group has identified more than 200 companies that employ a CSO. The position of CSO is gaining in popularity but the role differs dramatically from business to business. The required qualifications, reporting structures and compensation are also "wildly diverse", according to the report.

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Russia: Russia and US in “talks on cyber security”

May 13, 2013

Russian newspaper Kommesant reported that the US and Russia had held formal talks to help improve international cooperation to combat cybercrime. Chris Painter, US State Department coordinator for cyber security and special assistant Michael Daniel, were said to be involved in the talks.

"The purpose of the visit is negotiations around confidence-building measures by Russia and the US in cyber space." according English language site, Russia Behind the Headlines.

The sources claimed that the U.S. State Department said the the participants may adopt some intergovernmental agreements and a separate working group on cybersecurity issues may be created in the U.S.-Russia Bilateral Presidential Commission. No confirmation on any such talks has been given by the US State Department, however.

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