The investment enhances the collaboration agreement between the two companies to increase data security and cyber resilience
Cohesity, a leader in AI-powered security and data management, announced an expanded collaboration with IBM on cyber resilience. The closer relationship between the two companies will accelerate the development of essential cyber resilience capabilities to address organizations' urgent need to increase the security and resilience of their data in hybrid cloud environments. With this announcement, Cohesity completes its Series F financing, and IBM joins NVIDIA as a strategic investor.
According to the most recent report Cost of a Data Breach, commissioned by IBM Security, the global average cost of a data breach in 2023 is $4.45 million, an increase of 15% over the previous three years. To help clients address this issue, IBM has integrated Cohesity capabilities into the IBM Storage Defender end-to-end cyber resilience platform, enhancing clients' ability to recover from data breaches and cyber attacks.
"IBM is a value partner in the enterprise cloud and IT infrastructure market. We bring decades of experience to strengthen the partnership, as well as investing in our businesses to help fund growing research and development and provide customers with even stronger cyber resilience," he said Sanjay Poonen, CEO and President of Cohesity. “We are excited to be working with IBM to continue helping mutual customers quickly detect threats and maintain business continuity during an attack to avoid business disruption.”
“Data breaches continue to represent one of the biggest threats organizations face to improve their business outcomes,” he said Ric Lewis, SVP Infrastructure di IBM. “We are excited to deepen our collaboration with Cohesity to offer customers innovative end-to-end, software-defined solutions designed to increase cyber resilience and help avoid business disruptions.”
The collaboration between Cohesity and IBM brought together Cohesity DataProtect a Storage Defender Solution from IBM, to help both companies' customers protect, monitor, manage and recover data. Cohesity DataProtect is a secure, high-performance backup and recovery solution. It is designed to safeguard data from the most sophisticated cyber threats and offers comprehensive, best-policy compliant protection for cloud-native, SaaS, and traditional data sources. DataProtect converges multiple products into a single multicloud platform deployed on-premise or as a service.
IBM Storage Defender leverages AI and event monitoring across multiple storage platforms through one pane of glass to help protect organizations' data layers from risks such as ransomware, human error and sabotage. Additionally, IBM Storage Defender will soon include a cyber vault and functions of clean room with automated recovery mechanisms, designed to help companies restore business-critical data in hours or even minutes, where it previously took days.
