A Search for Intelligence
Cyveillance of Rosslyn has passed another hurdle in the race to move beyond start-up status: a second round of venture capital funding. The money totals $6.15 million and comes from New Enterprise Associates.
Now with just under 40 employees, the still-in-the-red company trolls the Web for "e-business intelligence" of interest to clients, which include Mobil Corp., Dell Computer Corp., washingtonpost.com and the Recording Industry Association of America Inc. Most of its work involves finding rip-offs of intellectual property on Web sites, but the company is expanding into other services such as evaluation of the sites of clients' affiliates and competitors.
As part of the new round of funding, NEA partner Suzanne Hooper King joins the company's board of directors.
Computer viruses will cost businesses worldwide about $7.6 billion in the first half of 1999, according to a new survey by Computer Economics, a research firm in Carlsbad, Calif.
The company queried 185 companies that share data with it and asked for numbers on the cost of employee downtime when computers were knocked out by viruses and the cost of sending somebody around to fix the problem.
The firm predicts that the frequency of virus attacks will continue at its current rate, but that the viruses themselves will become more severe. Organizations will see probably see longer periods of downtime. Most security budgets, the firm estimates, should at least be doubled to fight the problem.