MARKET MOVEMENT
Proofpoint enters definitive agreement to acquire Tessian
Proofpoint announced it has entered into a definitive agreement to acquire Tessian , a vendor in the use of advanced AI to automatically detect and guard against both accidental data loss and evolving email threats . The acquisition is expected to close in late 2023 to early 2024 , subject to customary closing conditions , including any required regulatory approvals .
With the acquisition of Tessian , Proofpoint will enhance its threat and information protection platforms by adding powerful layers of AI-powered defence that address risky user behaviours , including misdirected email and data exfiltration .
Proofpoint protects organisations against social engineering attacks by applying award-winning AI and large language models , LLMs to block threats and provide real-time threat insights . AI-based detection has proven to be notably effective in identifying threats targeting people , such as email fraud and supplier-based attacks , and preventing data loss due to negligent or malicious actions .
Misdirected emails , sending emails to the wrong recipient and mis-attached files continue to be a cause of compliance violations and accidental data loss for organisations according to Ponemon research : in 2022 alone , 65 % of all data loss incidents occurred via email , and two-thirds of organisations experienced data loss or exfiltration due to an employee mistake on email .
As a result , it takes security teams 48 hours , on average , to detect and remediate a data loss and exfiltration incident caused by employee negligence .
Darren Lee
“ Far too often , human errors with email lead to organisations putting their own and their customer ’ s data at risk , breaching industry and data protection regulations and losing mission-critical intellectual property ,” said Darren Lee , Executive Vice President and General Manager , Security Products and Services Group , Proofpoint .
Proofpoint channel partners can quickly bring value to their customers with these new , easy-to-deploy solutions that integrate natively with Microsoft 365 and Google Workspace .
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KPMG Australia commits $ 16 million over three years to fuel growth in Wiise
Charlie Wood
Wiise , the fast-growing cloud enterprise resource planning , has secured a $ 16 million commitment from KPMG Australia , following stellar growth in 2023 . The company has tripled its revenue over the past two years with 60 % year-on-year growth and grown its team to over 40 staff .
The investment will expand Wiise ’ s global footprint with new operations in New Zealand launching soon as its first international market . It will also support Wiise ’ s product-led growth plan .
The latest innovations by Wiise include new bank feeds that introduce consumer data rights , CDR and the launch of Wiise Warehouse OnTime . The new app enables users to manage warehouse activities , automate workflows and keep accurate inventory records in real time using their own mobile devices or major hardware scanners to avoid mis-picks , delays and errors – ensuring customers and team are happy .
Wiise ’ s upcoming expansion into New Zealand aims to fulfil the growing demand for ERP software , particularly from the financial services , manufacturing , and warehousing sectors .
Organisations that rely on Wiise include national transport and logistics company Capital Transport , fire safety solutions provider FVS Services Group , the national standards and certifying body for translators and interpreters in Australia NAATI , and South Australia ’ s Chamber of Commerce and Industry , Business SA .
Charlie Wood , CEO Wiise , compared the funding commitment from KPMG Australia to a Series B funding round and said it would supercharge growth over the next three years .
“ Since its launch by KPMG Australia in 2018 , Wiise ’ s affordable enterprise-grade business software has found a niche in helping Australian small and medium-sized businesses move forward and make smarter decisions in real time . The ever-increasing demand for intelligent cloud ERP solutions from Australian businesses ,” he said .
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