July 18, 2022
Image: Charles Deluvio via Unsplash
Hello and welcome to Protocol Enterprise! Today: How Snyk paved the way for developer-oriented cybersecurity startups, the White House issues a warning about the security talent shortage and who’s raising money in enterprise tech.
When Snyk launched in 2015, it took an unusual approach for a security vendor by offering a free, self-service version of its product.
But after winning over developers — and getting lots of businesses to write checks for a paid version of the product with more features — Snyk ranks at No. 2 among the most valuable privately held cybersecurity vendors.
For many enterprises, getting buy-in from developers on tools to help improve code security is something leaders would welcome.
A number of developer security startups have embraced the freemium model from their inception, emulating Snyk.
Thinking outside your wall: How the path to net zero requires a new approach to collaboration and knowledge sharing: The emissions that make up a full greenhouse gas footprint can emanate from outside the four walls of your own manufacturing operations, like in the case of PepsiCo, where 93% of emissions come from its value chain.
The Biden administration is calling the shortage of cybersecurity talent a "national security challenge" ahead of a summit at the White House Tuesday focused on accelerating progress on the issue. In a news release, the White House cited estimates that there are 700,000 cybersecurity jobs currently open in the U.S. alone.
Tuesday's summit is expected to include participation from a number of top Biden administration officials, as well as executives from the private sector and "thought leaders" in academia and the cybersecurity community. The summit is being convened by National Cyber Director Chris Inglis, and participants will include Secretary of Commerce Gina Raimondo, Secretary of Labor Martin Walsh and Secretary of Homeland Security Alejandro Mayorkas, as well as Jen Easterly, director of the Cybersecurity and Infrastructure Security Agency.
With the massive cybersecurity talent gap, "America faces a national security challenge that must be tackled aggressively," the White House said in the news release. Planned discussion topics at the summit include how to create “new skills-based pathways to cybersecurity jobs" in educational institutions and training programs. Notably, the Biden administration pointed out that the U.S. has "an opportunity to build pipelines for historically untapped talent, including underserved and diverse communities" as part of filling open cybersecurity roles.
What the White House release didn't specifically touch on was the need for more employers to create entry-level positions — something that a number of industry leaders have told Protocol is the biggest missing piece for closing the cybersecurity talent and diversity gap.
As the old saying goes, if we don’t learn from our history, we are doomed to repeat it. In this Protocol Pipeline event, hosted by Biz Carson tomorrow at 10 a.m. PDT, we will be joined by a panel of VCs who expertly navigated the 2001 and 2008 crashes to talk about the downturn around the corner.
They will share lessons on how to shift strategies when the market changes, what emerging VCs should focus on in order to survive and when it is — and isn’t — time to make that next big bet. Joining Biz on the panel are Beezer Clarkson, partner at Sapphire Partners; Geoff Yang, founding partner and managing director at Redpoint Ventures; and Matt Murphy, partner at Menlo Ventures.
SingleStore raised $116 million to provide databases for cloud and on-premises apps.
Tecton raised $100 million to help enterprises put machine learning into production with its MLOps platform.
Bishop Fox raised $75 million for its enterprise-grade attack surface management software.
Fabless chip companies like Nvidia are leaning toward supporting the Chips Act, according to Reuters, even though they won’t see any of the major benefits that are geared toward manufacturing companies.
Thinking outside your wall: How the path to net zero requires a new approach to collaboration and knowledge sharing: Asking suppliers and associated companies to overhaul the way they work is no small feat, but PepsiCo is taking a three-pronged approach centered around the principles of educating, enabling and incentivizing. The Sustainability Action Center aims to engage and equip value chain partners with tools to undergo their own sustainability journey.
Thanks for reading — see you tomorrow!