Cyber security technology company Symantec Corp. announced the formation of Symantec Ventures to assist cyber security startups.
Symantec Ventures did not divulge the size of the funds available for funding for security start-ups globally.
In addition to contributing capital, Symantec aims to help the startup community reduce expenses and accelerate time to market.
Symantec earlier made investment in Appthority, a provider of enterprise mobile app security.
“Too often entrepreneurs spend time and resources building endpoint chassis, network appliances or cloud infrastructure instead of focusing their efforts on their true value-add innovation. We can help startups by allowing them to build on our Integrated Cyber Defense Platform,” Symantec CEO Greg Clark said.
Symantec has more than 385,000 enterprise customers and these clients can benefit from new ideas and innovation in cyber security space.
Symantec Ventures aims to provide entrepreneurs with access to technology assets, including the company’s Integrated Cyber Defense Platform for enterprises and the Digital Safety Platform for consumers. Expertise in artificial intelligence, go-to-market resources and the use of the civilian threat intelligence network will also be helpful.