Mass strike CEO George Kurtz said Wednesday the cybersecurity firm faces tougher challenges as adversarial hackers move from simple online phishing scams to sophisticated ransomware attacks on large corporations.
“Now the opponents are taking a side away from the nation-state actors,” he told CNBC’s Jim Cramer. “It has become a big game hunt as opposed to just traditional ransomware.”
Crowdstrike provides cloud-based services including endpoint security, threat intelligence, and cyberattack response. The company sees an increasing number of ransomware-as-a-service operations as the subscription economy takes off, Kurtz said in an interview with Mad Money.
It’s the kind of attack that the petrol supply paralyzed in the eastern United States last month. Colonial Pipeline, a large U.S. pipeline, paid approximately $ 5 million in ransom to restore service after DarkSide, believed to be a Russia-based criminal organization, hacked its system and considered its systems Held hostages.
According to Kurtz, Crowdstrike has more than 11,000 customers, a “small fraction” of the hundreds of thousands of customers who have used older on-site network security systems. During the digital transformation, more and more companies have adopted cloud security platforms.
“There are a lot out there,” he said. “When we think of all the small businesses, all the big businesses, there isn’t anyone in the world who doesn’t need cybersecurity.”
Last week, Crowdstrike announced that it had sales of $ 302 million for the quarter ended April 30, up 70% year over year. Subscription customers grew more than 1,500 in the quarter.
Crowdstrike stock slipped 0.55% to $ 213.95 on Wednesday and is up about 1% year-to-date.