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Rapid7 acquires threat intelligence platform IntSights for $335M

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Rapid7 acquires threat intelligence platform IntSights for
$335M

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Data and analytics security solutions provider Rapid7 today announced that it acquired IntSights, a threat intelligence platform developer, for $335 million in cash and stock. With the purchase of IntSights, Rapid7 says it’ll combine its existing threat intelligence technologies with IntSights’ threat detection and remediation capabilities into a single customer offering.

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In light of the digital transformation brought on by the pandemic, the attack surface in the enterprise has increased substantially. Yet security teams are largely under-resourced and overburdened. Spurred on by the threat of hacks and data breaches, the global cybersecurity market is expected to grow from $152 billion in 2018 to $250 billion by 2023.

IntSights, which is headquartered in New York with offices in Amsterdam, Boston, Dallas, Singapore, Tel Aviv, and Tokyo, aimed to address this challenge with products that monitored enterprises’ profiles across the web. Its technologies ingested assets and correlated inputs, variables, and interactions to identify cyberattacks that might impact employees or customers, as well as collate various sources of intelligence to ensure that blocklists remain up to date.

Prior to the Rapid7 acquisition, IntSights had raised $71.3 million in venture capital from Qumra Capital, Blumberg Capital, and others. The startup’s customer base included brands like Blackstone, American Eagle Outfitters, Caesars Entertainment, Gett, and Wipro.

“We founded IntSights to make threat intelligence instantly accessible and actionable for organizations of any type or size,” Guy Nizan, cofounder and CEO at IntSights, said in a statement. Nizan cofounded the company in 2015 along with Alon Arvatz and Gal Ben David. “We are excited to join Rapid7 to continue this mission and to bring our threat intelligence capabilities to even more customers.”

Future integration

Rapid7 CEO and chairman Corey Thomas says that the IntSights platform’s features will be brought into Rapid7’s extended detection and response solution, InsightIDR, in the weeks ahead. The integration, he added, will provide customers with a view into threats, attack surface monitoring, relevant insights, and proactive threat mitigation.

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“Cyber security is a lopsided battle today and the odds consistently favor attackers,” Thomas said in a press release. “Both IntSights and Rapid7 have a shared belief that organizations will succeed only when they have a unified view of internal and external threats, complete with contextualized intelligence and automated threat mitigation which will allow security teams to focus on the most critical threats. We look forward to working with IntSights to make this vision a reality for our customers.”

News of the acquisition, which was rumored last week, comes after Rapid7 released guidance for Q2 2021. It expects annual recurring revenue to end at approximately $489 million, up 29% year-over-year, and anticipates revenue and non-GAAP income from operations to exceed the high end of previous guidance. IntSights is Rapid7’s latest acquisition after cyber monitoring startup Velociraptor and container security company Alcide.

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Published at Mon, 19 Jul 2021 20:52:03 +0000

This post originally posted here https://venturebeat.com/2021/07/19/rapid7-acquires-threat-intelligence-platform-intsights-for-335m/

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Rapid7 acquires threat intelligence platform IntSights for
$335M
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