This launch was fueled by a $10M funding round led by Planven, with participation from existing investors Bessemer Venture Partners, Innovation Endeavor and Team8, to accelerate the development and go-to-market efforts of the new solution. This latest injection of capital brings the total investment in Hysolate to $33M.
Hysolate IWaaS enables companies to protect their corporate endpoints with an isolated workspace for high-risk activities and secure corporate access from unmanaged devices with a strong, VM-based, isolated workspace. The virtual and isolated environments deployed on users’ endpoints are fully managed remotely with a robust and fine-grained set of networking, clipboard and data security policies such as access control, application management and insights across the entire workforce.
Hysolate IWaaS addresses the competing priorities of three key enterprise stakeholder groups:
- Security teams face increasing pressure to manage significant security risks stemming from corporate access via BYODs.
- Workforce is becoming increasingly frustrated with IT and security restrictions that severely impede their productivity.
- IT is tasked with finding cost-effective technology solutions that spur worker productivity through a superior user experience without incurring steep back-end infrastructure costs.
Deployable at scale in minutes on endpoints, Hysolate enables remote-first companies with unprecedented productivity and security, without the IT tax.
According to a recent Team8/Hysolate CISO Security Survey, 50 percent of CISOs from Fortune 2000 companies believe that more than half of their employees will continue to work from home post-pandemic, and that fewer corporate restrictions would improve worker productivity. However, most still view restricting user productivity as the only way to keep corporate assets secure. Specifically, 60 percent quote having to restrict employees from browsing key websites needed to do their jobs, including personal email, as a needed security measure. Additionally, 70 percent restrict employees from installing applications, while 80 percent are reluctant to provide certain employees, such as developers, with administrative rights on their corporate devices.
The new era of remote working
In a new age of greater restriction, Hysolate’s IWaaS solution supports an anytime, anywhere, anyhow approach to work. IWaaS liberates employees with unfettered access to the applications and websites they need to do their jobs, without posing a security risk to the enterprise. Employees, shift workers, third-party contractors, partners and suppliers see unprecedented levels of user productivity and a superb user experience, while DevOps, security researchers and IT admins receive isolated privileged access. A propos of these times of social distancing, IWaaS operationalizes the new work-from-home reality.
“Hysolate gives control to IT and security teams to safely manage multiple isolated endpoint environments from the cloud without sacrificing worker productivity,” says Marc Gaffan, CEO, Hysolate. “We provide a personalized, trusted experience for both users and organizations that are facing tremendous challenges in today’s remote working world. I am very excited about the new funding and the release of the first-ever Workspace Isolation-as-a-Service offering.”