Forgepoint Capital, a venture capital firm focused on cybersecurity investments, is pumping $10 million into an early-stage startup created to provide incident response services within the lucrative cyber-insurance ecosystem.
The startup — Surefire Cyber — is the second company incubated by the San Francisco-based Forgepoint Capital (SolCyber was the first) and the $10 million Series A investment signals a big bet on services-related revenues from organizations struggling to cope with a surge in malware attacks.
Surefire Cyber, the brainchild of incident response pioneer Billy Gouveia, is selling incident response services specifically to cyber insurers, brokers and legal firms.
The company is promising “strong response to cyber incidents such as ransomware, email compromise, malware [and] data theft” with what is described as “end-to-end response capabilities.”
Surefire Cyber’s services include tools for pre-incident preparation, immediate response during an active incident (from containment to eradication to ransomware negotiation and data recovery), to post-incident remediation and management.
The decision to target the cyber-insurance ecosystem comes amidst a surge in major ransomware attacks targeting businesses and new insurance mandates around stricter security controls required to renew and maintain policies.
“With the global rise in cyberattacks and their associated costs, we share Billy’s vision and goals in developing a new and more effective approach that accelerates time to response and recovery, which is crucial for any business,” said Andrew McClure, a partner at Forgepoint Capital.
The incubation and launch of Surefire follows on the heels of SolCyber, a startup styled as the modern MSSP for the midmarket.