According to the "Cost of a Data Breach" report, funded by IBM (News - Alert) Security, the average global financial impact of a data breach reached $4.45 million in 2023. This figure represents a rise of 15% compared to the average cost reported over the preceding three years. What should be taken away from the report, though, is the growing financial burden that data breaches pose to organizations worldwide.

“Data breaches continue to be one of the biggest threats organizations face to advancing business outcomes,” said Ric Lewis, senior vice president, infrastructure at IBM.

Therefore, IBM, being a renowned partner in the enterprise cloud and IT infrastructure market, knew it had to act. That is why IBM strengthened its cyber resilience collaboration with Cohesity.

Cohesity (News - Alert) simplifies data security, protection, management and value extraction across data centers, edge environments and cloud platforms. The company offers comprehensive data security and management features to help organizations combat cyber threats. These features include unalterable backup copies, AI-powered threat detection, monitoring for suspicious activity and swift large-scale recovery.

Back to the problem at hand, data breaches, IBM’s collaboration with Cohesity has brought Cohesity DataProtect together with IBM’s Storage Defender Solution to help their joint customers protect, monitor, manage and recover data.

Cohesity DataProtect is a high-performance, secured backup and recovery solution. It is designed to safeguard data against sophisticated cyber threats and offers comprehensive policy-based protection for cloud-native, SaaS (News - Alert), and traditional data sources. DataProtect converges multiple-point products into a single multicloud platform deployed on-premises or consumed as a service.

IBM Storage Defender leverages AI and event monitoring across multiple storage platforms through a single pane of glass to help protect organizations' data layer from risks like ransomware, human error and sabotage.

Additionally, IBM Storage Defender is anticipated to include a cyber vault and clean room features with automated recovery functions designed to help companies restore business-critical data in hours or minutes from what used to take days.

The enhanced relationship will accelerate the development of essential cyber resilience capabilities to address organizations' critical need for increased data security and resilience across hybrid cloud environments.

“IBM brings decades of expertise to our relationship, in addition to their investment in our business to help fund incremental research and development to offer customers even stronger cyber resilience,” said Sanjay Poonen, CEO and president, Cohesity. “We’re thrilled that IBM is working with us as we continue to help combined customers detect threats rapidly and maintain operations during an attack to avoid business interruptions.”

With this announcement, Cohesity completes its Series F financing, with IBM joining NVIDIA (News - Alert) as a strategic investor.