Norse Corps was one of the cyber security firms that had gained traction since its inception. It concentrated on providing threat intelligence solutions for firms to proactively detect threats inside of their network. The velocity of their takeoff was monumental until they began to collapse. Norse Corp experience a major network down emergency that forced their customers and investors to proceed with caution. When asked why their system went down, their CEO responded by saying they experienced some cuts backs in the work force which ultimately led to the exit of key employees in critical roles.
Up until that response, Norse had received 40 million dollars in VC funding. This company will not be the only firm to fall as many other cyber security firms have failed and will continue to fail. These “unicorns” are forming because of the gapping hole in the security sector and the increasing need by businesses in all regulated sectors. The flip side to that coin is the firms are forming so quickly, they are not focusing on service delivery and solving the problem of the customer as threat intelligence is only a fraction of the resolution. Nonetheless, cyber firms are being formed by business minded entrepreneurs who are focused on invoicing over service and mishaps such as this will continue to happen. At the end of the day the customer suffers the most because after investing in the latest trends, they are no more secure than before.
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