Cohesity has announced the strengthening of its cyber resilience collaboration with technology giant IBM. This boost in their relationship is set to accelerate the development of crucial cyber resilience capabilities, addressing the increased demand for data security and resilience across hybrid cloud environments. Following this announcement, Cohesity has concluded its Series F financing, with IBM joining as a strategic investor alongside NVIDIA.
A recent Cost of a Data Breach report, sponsored by IBM Security, indicated the global average cost of a data breach in 2023 was a staggering $4.45 million. This marked a 15% rise over the prior three years. IBM has begun deploying Cohesity capabilities into its end-to-end cyber resilience platform, IBM Storage Defender, in a bid to strengthen customers' abilities to recover from data breaches and cyber-attacks.
Cohesity's CEO and President, Sanjay Poonen, praised their growing alliance with IBM. He stated, "IBM is a powerful partner in the enterprise cloud and IT infrastructure market. They bring decades of expertise to our relationship, in addition to their investment in our business to help fund incremental research and development to offer customers even stronger cyber resilience." Poonen further added that they are excited to have IBM's support as Cohesity "continues to help combined customers detect threats rapidly and maintain operations during an attack to avoid business interruptions."
Discussing their ongoing mental model, Ric Lewis, SVP, Infrastructure at IBM, shared that data breaches are increasingly posing significant threats to business advancement. Lewis expressed, "We're excited to deepen our collaboration with Cohesity to bring clients innovative end-to-end software-defined solutions designed to increase their cyber resilience and help avoid business interruptions."
The collaboration between IBM and Cohesity has brought Cohesity DataProtect together with IBM’s Storage Defender Solution. This synergy is to aid their joint customers in the protection, monitoring, management, and recovery of data. Cohesity DataProtect is a leading performance, secure backup and recovery solution constructed to safeguard data against sophisticated cyber threats. It features comprehensive policy-based protection for diverse data sources, from cloud-native and SaaS to traditional ones. The DataProtect platform converges multiple-point products within a singular multicloud platform that can be deployed on-premises or adopted as a service.
On the other hand, IBM Storage Defender exploits artificial intelligence and event monitoring across various storage platforms. This integration protects organisations' data layers from risks like ransomware, human error, and sabotage by offering a single overview. The IBM Storage Defender is also anticipated to feature a cyber vault and clean room capabilities, introducing automated recovery functions that enable companies to recover business-critical data in hours or minutes, a process that previously took days.
The shared future direction and intent regarding IBM's or Cohesity's products are reputedly subject to change or withdrawal without notice, representing the companies' ambitious goals and objectives.