Brian Beyer's Red Canary Out To Capture $3 Billion Midmarket Cybersecurity Market

August 30, 2016

Bruce Rogers

A Series of Forbes Insights Profiles of Thought Leaders Changing the Business Landscape: Brian Beyer, Co-Founder and CEO, Red Canary

Cybersecurity is a major risk for any business, becoming a tax on business productivity. As a result, the cat and mouse game between white and black hat technologies is a booming business representing a $75.4 billion global market in 2015, growing at an estimated 7.8% CAGR through 2019, according to Gartner. It’s also a driving force for innovation and new companies attempting to solve the growing problem.

One such newer entrant is Red Canary, a Denver-based company that mixes machine learning and human intuition with its software and managed services hybrid offering. It’s an emerging category of cyber security called managed detection and response.

Founded in 2013, the company recently announced it’s A round financing with a placement of $6.1 million from investors from Access Venture Partners in Denver, Colorado and Noro-Moseley Partners in Atlanta, Georgia.

“We provide a service to businesses that monitors their computer systems for potential cybersecurity threats or attacks, and then very quickly identifies those threats and alerts our customers. They can then immediately respond and stop that attack before it becomes a breach you see in the news,” says Co-founder and CEO, Brian Beyer.

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