Cylance, a company that specializes in artificial intelligence-based threat prevention solutions, has launched Cylance Smart Antivirus predictive security software for consumers.
With Cylance Smart Antivirus, consumers can block known and unknown cyber threats without affecting device performance or disrupting the end user experience, according to a prepared statement.
A Closer Look at Cylance Smart Antivirus
Cylance Smart Antivirus uses AI to identify and block cyber threats before they execute on consumer devices, the company indicated. It enables consumers to set up alerts to manage the security status of their devices, find out if a cyberattack has been blocked and view lists of malicious files blocked on their devices.
Furthermore, Cylance Smart Antivirus runs silently and constantly without noticeable degradation of device performance, the business stated. It also blocks pop-ups and scan requests and automatically updates in the background of a user's device.
Cylance Smart Antivirus is available for devices running macOS and Windows, and subscription pricing starts at $29 per year.
Cylance Adds $120 Million in Funding, Opens California HQ
In addition to the Cylance Smart Antivirus launch, Cylance last month closed a $120 million funding round that included participation from Blackstone Tactical Opportunities and other investors. Cylance intends to use the financing to increase its sales, marketing and development efforts, expand its global footprint across Europe, the Middle East and Asia Pacific regions and upgrade its cybersecurity solutions.
Also, Cylance in May opened worldwide headquarters in Irvine, California. The California HQ hosts more than 350 Cylance employees and supports the company's growth strategy.
Cylance: Here's What You Need to Know
Founded in 2012, Cylance offers cybersecurity solutions that blend machine learning and AI technologies to prevent advanced cyberattacks. Cylance's solutions are deployed on over 10 million endpoints and protect more than 4,000 customers worldwide.
Speculation persists that Cylance may go public in the near future. Meanwhile, Cylance surpassed $130 million in annual revenues and posted 90 percent year-over-year growth in fiscal year 2018 and expects to become cash flow positive soon, Chief Financial Officer Brian Robins said.
Demand for AI-Based Cybersecurity Solutions Expected to Increase
Cylance appears poised to capitalize on the rising demand for AI-based cybersecurity solutions.
The AI-based cybersecurity solutions market is projected to expand at a compound annual growth rate (CAGR) of 31.4 percent between 2017 and 2025, according to market research firm Markets and Markets. This sector also could be worth approximately $34.8 billion by 2025.