Boston, MA (March 8, 2022) — Privafy, the leader in Security-as-a-Service service, has formally joined the 5G Open Innovation Lab’s (“5GOILab”) Spring 2022 program. The founding corporate partners that support the Lab, include Amdocs, Avanade, Dell Technologies, Ericsson, F5, Intel, Microsoft, Spirent, T-Mobile, and VMware. Read the press release from 5G Labs here announcing the spring cohort.
“5G is at the forefront of growth for connectivity, and with this new technology and speed come new cybersecurity needs,” said Kumar Vishwanathan, EVP, and Chief Technology Officer of Privafy. “Massive volumes of data are constantly moving around and being shared in 5G networks. 5G can support 250x the number of devices in each area versus 4G. The massive volumes of data will overwhelm traditional security solutions; legacy cybersecurity solutions are insufficient to monitor and effectively protect this environment. Privafy’s unique innovation delivers a comprehensive Security-as-Service solution that carriers, IoT device makers and enterprises need to tackle this problem. We’re looking forward to working with the partners and sponsors of the 5GOILab to establish scalable solutions for the 5G ecosystem.”
“We’re excited to see where Privafy’s can go with the support of our ecosystem,” said Jim Brisimitzis, General Partner of 5G Open Innovation Labs. “The landscape for cybersecurity is changing faster than ever before. Privafy’s approach is unique and helps its customers deal with increasingly sophisticated and automated cybersecurity threats.
Privafy joins 11 other participants in the fifth cohort of the 12-week program, getting underway this week to develop solutions encompassing a broad range of technologies including AI, advanced robotic, drone and vehicle automation technologies, Cybersecurity, and more, all leveraging 5G capabilities.
The Lab also announced this week industry leaders Nokia and Palo Alto Networks have joined the 13 other enterprise and industry leaders in sponsoring and participating in the Lab. Where they will work directly with Lab cohorts to provide business and technical mentorship and partner on potential proof of concept, go-to-market, and other engagements and opportunities.
Fifty-nine startups have participated in the Bellevue, WA., based Lab program since its inception in 2020. The Lab also connects startups with over 100 venture capital investors participating in the ecosystem and technical engagements. The companies have raised over $500 million in invested capital before joining the program and over $274 million since graduating.
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About Privafy. Privafy is redefining how carriers, IoT device makers, and enterprises protect their Data-in-Motion. As data traverses between locations, it’s increasingly at risk from many vectors and threat actors. Privafy’s security-as-a-service application secures data wherever it travels. The company’s cloud-native service integrates all the functionality of traditional point solutions, dramatically reducing the cost and complexity to provide comprehensive data protection as it moves between locations, clouds, mobile devices, and IoT.
About 5G Open Labs.The 5G Open Innovation Lab is the nexus of a new-model ecosystem of startups, enterprise and industry partners, and investors who connect and collaborate to develop new technologies and solutions leveraging the power of edge computing and 5G.