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Crowdstrike strengthens its cloud security leadership with bionic acquisition
CrowdStrike announced the acquisition of Bionic, the pioneer of Application Security Posture Management (ASPM). CrowdStrike's flagship Cloud Native Application Protection Platform (CNAPP) will be extended with ASPM to provide full risk visibility and protection across the whole cloud estate, from cloud infrastructure to the apps and services operating within it. As a result, CrowdStrike will be the first cybersecurity firm to provide full code-to-runtime cloud protection from a single unified platform.
The agreement was announced at CrowdStrike Fal. Con 2023, the industry's premier cybersecurity conference, follows CrowdStrike's Q2 FY24 financial results, in which the firm produced a record quarter for its fast-growing cloud security business. Furthermore, CrowdStrike's final ARR as of July 31, 2023, for modules deployed in the public cloud increased by 70% year on year to US$296 million, making it the largest cloud security vendor.
"The cloud is the new battleground for cybersecurity, but the industry's response to date has been disjointed point security tools or 'platforms' with multiple consoles and agents," said George Kurtz, co-founder and CEO of CrowdStrike. "We are providing what customers require: modern protection that addresses cloud security risk holistically through a single unified platform." We pioneered cloud cybersecurity, and the inclusion of Bionic expands our cloud security leadership on our aim of preventing breaches. Bionic shares our enthusiasm for customer-centric innovation and will be an excellent addition to the CrowdStrike team."
The Battle Against Breach Moves to the Cloud
Cloud exploitations surged by 95% in the previous year, according to the CrowdStrike 2023 Global Threat Report, and the number of cloud-conscious threat actors climbed by more than thrice. Simultaneously, the advent of cloud computing, the pace of DevOps, and the rising usage of no and little code development platforms have resulted in an explosion of cloud-based apps and microservices. Because of the pace and dynamic nature of application development, it is practically difficult for organizations to keep track of every application and its dependencies operating in their environment, as well as the microservices communicating with cloud infrastructure. This results in a large risk profile, which cloud-savvy adversaries are always looking to exploit.
CrowdStrike intends to provide Bionic ASPM as a standalone product as well as fully integrated as a feature of Falcon Cloud Security, which is part of CrowdStrike's AI-powered Falcon platform. Customers will benefit from complete cloud security that includes Cloud Workload Protection (CWP), Cloud Infrastructure Entitlement Management (CIEM), Cloud Security Posture Management (CSPM), and now ASPM.
Forward-Looking Statements
This news release contains forward-looking statements that involve risks and uncertainties, such as comments about the acquisition's advantages to CrowdStrike and its customers, the competitive landscape, and the acquisition's completion. You should not put too much faith in any forward-looking statements since actual outcomes and results may differ considerably from those anticipated owing to risks and uncertainties. Several factors, including the satisfaction of closing conditions, CrowdStrike's ability to integrate Bionic's technology and operations, and other risks described in CrowdStrike's most recent Form 10-Q filed with the Securities and Exchange Commission, could cause actual results to differ materially from those stated in this press release. All forward-looking statements in this press release are based on information available to CrowdStrike as of the date of this press release, and CrowdStrike assumes no obligation to update any of these forward-looking statements to reflect events or circumstances that occur after the date on which they were made.