Action1 Secures $20 Million Investment to Enhance Patch Management Platform

Action1 Corporation Announces $20 Million Investment in Secure Cloud Solution

Houston, Texas, June 15, 2023 – Action1 Corporation, a leading provider of risk-based patch management platforms, has announced its plans to invest $20 million in its solution. The investment aims to address the need for secure cloud solutions that offer easy-to-use continuous remediation of security vulnerabilities on distributed networks. This move comes in response to the increasing prevalence of unpatched vulnerabilities, which have accounted for 82% of cyberattacks in the first half of 2022.

The Importance of Patch Management

Unpatched vulnerabilities have become a leading contributor to breaches, and their prevalence can be attributed to the complexity of modern IT environments and the lack of automation in patching processes. Despite having an average of 67 applications per device, 73% of enterprises do not automate third-party patching. Additionally, patching remote endpoints takes 2.5 times longer than patching on-premises devices. These factors contribute to the widespread neglect of patching, leaving organizations vulnerable to cyberattacks.

Addressing Security Risks

While cloud-based solutions have the potential to address the challenges posed by patch management, enterprises have become increasingly concerned about security risks following recent software supply chain attacks like SolarWinds and Kaseya. These attacks compromised multiple entities through a single entry point, highlighting the need for robust security measures in cloud platforms.

The Action1 Solution

Action1‘s cloud-native platform aims to empower enterprises to remediate security vulnerabilities by streamlining the deployment of operating system and third-party updates, as well as implementing compensating controls. Unlike other market players that rely on third-party technologies, Action1 has developed its own patching engine, which boasts a 99% patch success rate.

Integrating Zero-Knowledge Architecture

Action1‘s investment will focus on implementing a zero-knowledge architecture into its platform. Zero-knowledge architecture utilizes encryption and digital signatures to ensure that transactions within the system are proven and verified without revealing any underlying information. This additional layer of defense significantly reduces the risk of successful supply chain attacks.

Key Elements of Zero-Knowledge Architecture

Action1‘s zero-knowledge architecture includes the following key elements:

1. End-to-End Encryption: All transactions within the system are encrypted, and decryption and execution can only occur with signature keys known only to the system’s administrator.
2. Verification Without Data Revelation: All commands must be verified for identity before execution, but no entity, including the vendor, has access to sensitive customer data.

Expert Commentary

Ken Buckler, Research Director at Enterprise Management Associates®, recognizes the need for organizations to seek alternatives to legacy endpoint management tools. He states, “The unprecedented growth of online threats in parallel to the growth of distributed workforces is forcing organizations to seek alternatives to legacy endpoint management tools, which not only struggle with scalability but also hinder their ability to maintain flexibility, cybersecurity, and resilience.”

Industry Impact and Conclusion

Action1‘s $20 million investment in its secure patch management platform marks a significant step toward addressing the vulnerabilities inherent in distributed networks. By prioritizing the implementation of a zero-knowledge architecture, Action1 aims to provide enterprises with a solution that offers both effective patch management and enhanced security measures, protecting against the evolving threat of supply chain attacks.

Although the zero-knowledge architecture update is expected in H1 2024, Action1 is already enabling organizations like CARR Auto Group to secure their endpoints and maintain compliance with comprehensive visibility into patching status. This investment will further solidify Action1‘s position as a trusted provider of risk-based patch management platforms.

As organizations continue to grapple with the challenges of patch management and the evolving threat landscape, investing in secure cloud solutions is crucial. Enterprises must prioritize automation, scalability, flexibility, cybersecurity, and resilience. With the advancement of zero-knowledge architecture, organizations can leverage enhanced security measures to protect their endpoints from the growing risk of supply chain attacks.

Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of The New York Times.