Cybersecurity trends, market expansion and IPO outlook: Arctic Wolf’s CEO weighs in

In the ever-evolving realm of cybersecurity, threats loom large and innovation races to stay one step ahead.

In light of the increasing threat from cyberattacks, Arctic Wolf Networks Inc. is fighting to protect data in the enterprise, according to Nick Schneider (pictured), the company’s president and chief executive officer. As Arctic Wolf expands its global footprint and grapples with the delicate balance between artificial intelligence’s promise and peril, the quest for cybersecurity excellence, caution and adaptability are paramount.

As a part of these efforts, the company recently acquired cyber incident response and proactive cybersecurity consulting company Tetra Defense.

“We continue to expand to these markets, and when we do so, we do so in earnest,” Schneider said. “We’ve just continued to grow and expand our customer base and the functionality and feature set that we bring to those customers.”

Schneider spoke with theCUBE industry analyst Dave Vellante during a CUBE Conversation at SiliconANGLE Media’s livestreaming studio. They discussed insights into the Artic Wolf’s journey, its commitment to safeguarding businesses from cyberattacks and the dynamic landscape of the cybersecurity industry.

Navigating the shifting landscape of cybersecurity

Arctic Wolf has been making significant strides in expanding its global presence, particularly in 2023. The company has expanded into international markets, with a focus on Europe, the Middle East and Africa, as well as Australia and New Zealand. This commitment to its customers and partners was best demonstrated by the launch of a new data center in Sydney, Australia and similar initiatives in EMEA in recent years.

Arctic Wolf’s dedication to excellence in cybersecurity has garnered recognition, with the company winning the Forbes Cloud 100 for two consecutive years. Additionally, Gartner named Arctic Wolf as a leader in managed detection and response, showcasing the company’s continued growth and its commitment to enhancing its services, according to Schneider.

“We’ve just continued to grow and expand our customer base and the functionality and feature set that we bring to those customers,” he said. “We continue to make strides to improve the capabilities that we have to deliver to the customer base, but also the geographies and the routes to market that we leverage to do so.”

IPO outlook and the role of AI in cyber defense

Although AI offers tremendous potential for improving security measures, it also presents challenges due to its misuse by cybercriminals. Companies need to be cautious when applying AI in cybersecurity. And while the technology is not new, the emergence of generative AI has created sophisticated phishing attempts. It is important to understand AI’s limitations and potential pitfalls, as well as the need for continuous monitoring and adaptation when it comes to developing cybersecurity strategies, according to Schneider.

“The average employee is still the No. 1 attack vector, and the manner in which a lot of those bad actors are getting in and getting to information that’s really critical is via phishing or business email compromise,” Schneider said. “I think the benefit to the bad actors outweighs the defense mechanism by the vendor or the end user.”

The IPO market has experienced an impact from the macroeconomic environment on IPOs and has seen a shift in focus toward profitability. This has caused a resurgence in the IPO market, driven by large organizations achieving healthy growth with strong bottom lines, Schneider added.

“I’m positive in my outlook as to the direction in which that’s headed,” he said. “We’ll continue as a business to keep a close eye on it, and obviously when it makes sense for Arctic Wolf, and if there’s a willing dance partner with the market, we’ll take a hard look at it as well. But right now, we’re really focused on building a strong business and executing for our customers.”

Here’s theCUBE’s complete video interview, one of many CUBE Conversations from SiliconANGLE and theCUBE:

Photo: SiliconANGLE

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