With the world taking note of the recent Hacking of Ashley Madison, the dating website for married people, and the release of its client’s data on the web, along with the general increase of data being stolen, Cybersecurity firm iSight look a potentially good investment.
Bliston Asset Management’s analysts have been comparing iSight to Rapid7 Inc. (RPD.O) whose shares have done exceedingly well, showing a 50 percent plus rise since its IPO in June. On its first day of trading Rapid7 Inc’s shares soared 57.12% to $25.14.
The general outlook for cybersecurity firms looks good, with investor interest exceptionally high”. There have been numerous well publicized cyber-attacks over the last few years that have really put cybersecurity firms in the investor spotlight. Bliston’s Senior Analyst said “hardly a day goes by without there being something in the news cyber intrusion”. No entity is safe from attack as we’ve been seeing, retailers, airlines, cloud providers even Large companies like Sony, show that anyone is vulnerable to an attack, even governments are not safe. Cybersecurity has become a major issue throughout the world and any company or government that can’t protect its client’s data is in serious trouble.
iSight, who have already raised $68 million and are currently expected to raise another $100 million by the end of this year “to assist in fund product development and international expansion” according to iSight”s CEO John Watters. They are also looking at partners for their powered by the iSight platform, which seems to be gaining speed. News released yesterday of a partnership with Corvil, who are a network data analytics company also shows their commitment to growth. John Watters also stated that he predicts growth to continue quicken again in 2016 as the iSight continues to partner with other security and technology companies with the aim of distributing the company's cyber intelligence in a program dubbed “powered by the iSight platform."
ISight, currently counts among others,the U.S. Department of Homeland Security and Blackstone as its customers and has 310 employees.