Cyren (NASDAQ:CYRN), a provider of email security and threat intelligence solutions, today announced an alliance agreement with KnowBe4 (NASDAQ: KNBE), the provider of the world's largest security awareness training and simulated phishing platform. The alliance will give customers access to an integrated and automated offering to secure inboxes against phishing attacks and improve the success of internal security awareness training programs.
Phishing-related scams continue to be the most reported type of internet crime, according to the FBI Internet Crime Report 2020, with Business Email Compromise (BEC) and Email Account Compromise (EAC) proving to be one of the most costly type of online scams accounting for 19,369 of complaints last year with adjusted losses of over $1.8 billion.
To help combat the ongoing threat from phishing and BEC scams, the partnership seamlessly integrates KnowBe4's automated security awareness training and phishing simulation platform and the Cyren Inbox Security (CIS) email monitoring, detection and remediation platform to enable organizations to mitigate the potential impact of phishing attacks on their business and reinforce security awareness training amongst employees to reduce the cost of phishing response and remediation.
"The risks posed by phishing and BEC scams show no signs of abating, in fact they are only increasing and costing organizations across the globe billions of dollars. This is why it is vitally important that we collaborate as an industry to develop solutions that genuinely make a difference in the battle against email-borne attacks," commented Lior Kohavi, Chief Strategy Officer at Cyren. "Security awareness training is imperative for all security conscious organizations and is a key layer of defense which, when done effectively, can lead to a reduction in successful phishing attempts. We regularly hear from customers that they want to automate the process of training with identifying and remediating suspicious emails and reduce the number of false positives received by their security operations team, while maintaining a robust and effective training program. Our partnership with KnowBe4 is designed to provide exactly that."
Stu Sjouwerman, CEO at KnowBe4, said: "Cyren and KnowBe4 are a natural fit, as we both share the same ambition and goals - to help make organizations across the globe more secure and enable the users themselves to be intuitive and make smarter decisions when faced with an email that could be a threat to the business. By working together, our customers can benefit from the simplicity and user-friendliness of our two platforms to build a powerful defensive capability that reduces the human-risk factor and potential business disruptions caused by phishing attacks."
More than 1.3 billion users around the world rely on Cyren's cloud security solutions to protect them against cyber-attacks every day. Powered by the world's largest security cloud, Cyren (NASDAQ: CYRN) delivers fast time-to-protection with embedded threat detection, threat intelligence and email security solutions. Learn more at www.cyren.com.
KnowBe4, the provider of the world's largest security awareness training and simulated phishing platform, is used by more than 44,000 organizations around the globe. Founded by IT and data security specialist Stu Sjouwerman, KnowBe4 helps organizations address the human element of security by raising awareness about ransomware, CEO fraud and other social engineering tactics through a new-school approach to awareness training on security. Kevin Mitnick, an internationally recognized cybersecurity specialist and KnowBe4's Chief Hacking Officer, helped design the KnowBe4 training based on his well-documented social engineering tactics. Tens of thousands of organizations rely on KnowBe4 to mobilize their end users as the last line of defense. www.knowbe4.com
Code Red Security PR for Cyren
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Kenneth Tarpey, CFO
SOURCE: Cyren Ltd