The image is by Alex Castro.
The acquisition of Siemplify is supposed to help the company bolster its own cloud security initiative. Siemplify will integrate its capabilities into Chronicle, according to a post on the Siemplify website.
Siemplify allows Security Operation Center analysts to manage their operations.
According to the vice president of Google Cloud Security, Siemplify is an intuitive workbench that enables security teams to manage risk better and reduce the cost of addressing threats. Siemplify allows Security Operation Center analysts to manage their operations from end-to-end, respond to cyber threats with speed and precision, and get smarter with every analyst interaction.
Siemplify has raised a total of $58 million from investors to date, and it was founded in 2015. The source told the news agency that the company was interested in purchasing the startup after hearing it was getting another round of funding. Chronicle will now join Siemplify.
Chronicle was spun off of X Development, a "moonshot factory" that was supposed to help large enterprises detect, analyze, and store security-related information. According to Vice, security experts were excited about the up-and-coming company when it first launched, as it was supposed to use innovative machine-learning technology and telemetry data to boost companies' cybersecurity. According to Vice, some employees quit because they felt the company lost its purpose after becoming an arm of Google Cloud.
The acquisition of Siemplify by the tech giant doesn't come soon after they promised to spend over $10 billion over the next five years to improve US cybersecurity. In May, President Joe Biden signed an executive order to strengthen national cybersecurity in the wake of the attacks on the Microsoft Exchange server.
