Pure Storage Platform Arms Enterprises in Fight Against Ransomware with Groundbreaking New Cyber Resiliency Services and Capabilities

Rhea-AI Summary

On June 19, 2024, Pure Storage (NYSE: PSTG) announced new cyber resilience services and capabilities at Pure Storage//Accelerate in Las Vegas. The IT pioneer introduced three advanced Storage as-a-Service (STaaS) SLAs—cyber recovery and resilience, site rebalance, and enhanced security assessments. These offerings aim to help organizations mitigate risks associated with ransomware and other cyber threats, ensuring rapid recovery and operational continuity. Key features include expanded disaster recovery scenarios, a comprehensive cybersecurity strategy with quarterly reviews, AI-powered anomaly detection, and flexible site rebalancing options.

Positive

• Introduction of three advanced STaaS SLAs enhances cyber resilience and operational continuity.
• Expanded Cyber Recovery and Resilience SLA now includes disaster recovery scenarios.
• Enhanced Security Assessment provides fleet-level risk visibility and actionable recommendations.
• AI-powered Anomaly Detection identifies ransomware and other malicious activities.
• New Site Rebalance SLA offers flexible storage capacity adjustments.

Negative

• None.

Financial Analyst

Pure Storage has made significant strides in enhancing its Storage-as-a-Service (STaaS) offerings, which is noteworthy for investors as it can impact the company’s revenue streams and market position. The introduction of three new advanced service-level agreements (SLAs), especially the Enhanced Cyber Recovery and Resilience SLA, is a proactive move to meet the increasing demand for cyber resiliency solutions. This could lead to a positive revenue impact by attracting new customers and retaining existing ones.

From a financial perspective, the expansion of service offerings to include disaster recovery scenarios and customized recovery plans can help diversify revenue and reduce churn rates. The company's ability to offer these sophisticated services reinforces its position as a leader in the STaaS market, potentially leading to higher margins compared to traditional hardware sales.

Additionally, the emphasis on quarterly reviews and ongoing risk assessments can foster long-term customer relationships, providing a steady revenue stream. However, investors should be mindful of the costs associated with these new services, including the logistics of shipping clean service infrastructure and providing professional services on-site.

Cybersecurity Expert

The introduction of the enhanced cyber recovery and resilience SLA and the new security assessment is particularly relevant in the context of the increasing frequency and sophistication of cyber attacks. The ability to provide a customized recovery plan and professional services for data transfer is a substantial value addition for organizations seeking to bolster their cybersecurity posture.

The new AI-powered anomaly detection feature offers advanced threat detection capabilities, leveraging machine learning models to identify unusual patterns and mitigate operational impact quickly. This is a cutting-edge solution that places Pure Storage ahead of its competitors in the cybersecurity domain.

For investors, the company’s focus on cybersecurity not only enhances its value proposition but also aligns with current market needs, making it a potentially attractive investment. However, the effectiveness of these solutions in real-world scenarios will be important in determining customer satisfaction and retention.

Market Research Analyst

Pure Storage’s new SLAs, especially the site rebalance SLA, highlight a forward-thinking approach to addressing evolving business needs. The ability to adjust storage commitments as requirements change is a valuable feature that can appeal to a broad range of enterprises dealing with dynamic data and storage needs.

This innovation could attract a diverse customer base, from large enterprises to mid-sized businesses, seeking flexible and scalable storage solutions. By offering the most comprehensive set of SLAs in the industry, Pure Storage differentiates itself from competitors, potentially increasing its market share.

However, the extent of market adoption will depend on how well Pure Storage can communicate the benefits of these SLAs to potential customers and the seamlessness of integrating these services into existing infrastructures. Investors should look for updates on customer feedback and new contract acquisitions as indicators of market acceptance.

Extends STaaS leadership, now with 10 concurrent SLAs, the industry's most comprehensive set of service level agreements

LAS VEGAS, June 19, 2024 /PRNewswire/ -- Pure Storage//Accelerate -- Pure Storage^® (NYSE: PSTG), the IT pioneer that delivers the world's most advanced data storage technology and services, today announced three new advanced Storage as-a-Service (STaaS) service-level agreements (SLAs) for the Pure Storage platform - cyber recovery and resilience and site rebalance - further empowering organizations to guarantee outcomes and reduce risk in their critical data infrastructure.

AI is revolutionizing business, and not always for the better. Cyber criminals are increasingly using AI to increase the frequency and impact of cyber attacks, especially ransomware. However, existing IT infrastructure generally lacks flexibility to react to the rapid pace of change required to protect data, and rapidly recover if needed.

The Pure Storage platform delivers agility and risk reduction to organizations with a simple, consistent storage platform and an as-a-service experience for the broadest set of use cases across on-premises, public cloud, and hosted environments. At the heart of the platform, the often imitated but never duplicated Evergreen^® architecture brings continuous and non-disruptive upgrades helping enterprises adapt to dynamic business environments. With the industry's record number of concurrent SLAs, customers get the reliability, performance, and sustainability their business requires.

Further advancing Pure's existing cyber resiliency offerings, including SafeMode for ransomware recovery, today, Pure announced new innovations enabled by the platform including:

• Enhanced Cyber Recovery and Resilience SLA: Building on the first-of-its-kind ransomware recovery SLA, Evergreen//One™ is expanding its coverage to include disaster recovery scenarios as well. This new and improved Cyber Recovery and Resilience SLA delivers a customized recovery plan, ships clean service infrastructure within a defined SLA, provides onsite installation, and supplies additional professional services for data transfer. In addition, Pure will collaborate with organizations to build and maintain a comprehensive cybersecurity strategy. Ongoing quarterly reviews are included to ensure best practices adherence, ongoing risk assessments, and operational security remediation. Organizations can rest assured knowing if an unforeseen disruptive event occurs, Pure will help rapidly restore normal operations, guaranteed. 
• New Security Assessment: The new assessment provides deep visibility into fleet-level security risks and offers actionable recommendations to maximize cyber resilience. Based on aggregated intelligence across 10,000+ environments, the Security Assessment presents numerical scores from 0 to 5 to benchmark the security posture of the entire storage fleet. It also delivers best practices to align with NIST 2.0 standards, advance regulatory compliance, remediate potential security anomalies, and rapidly restore operations if a security-related event occurs. Additionally, the new AI copilot leverages the security assessment to provide Chief Information Security Officers (CISOs) with the visibility into benchmarking their security posture against other Pure Storage customers.
• New AI-Powered Anomaly Detection Enhancement: Discover threats such as ransomware attacks, unusual activity, malicious behavior, and Denial of Service attacks via performance anomalies. This expands on previously available ransomware detection based on data reduction anomalies. The expanded detection is built on multiple machine learning models running to identify unusual anomalous behavior. The models analyze customer environments with historical data for anomalous patterns based on heuristics of performance as well as user context on how storage is used. Leveraging this capability, customers can identify the last known good snapshot copy to mitigate operational impact by quickly identifying recovery point targets to restore data, reducing risk and guesswork.

In today's dynamic market and competitive landscape, it is imperative for IT to be able to rapidly adapt. As the only STaaS solution that allows both scaling up and down the service, today Pure Storage further distanced itself by providing even more flexibility:

• New Site Rebalance SLA: The Evergreen//One Site Rebalance SLA delivers service flexibility for organizations looking to adjust existing reserve commitments as their storage requirements evolve. If there are no longer capacity needs at a specific site, if a data center is being consolidated, or if performance at one site was oversized and excess capacity exists that can be used elsewhere, the Site Rebalance SLA empowers organizations to rebalance reserve commitments once every 12 months for each Evergreen//One subscription.

"As Pure Storage continues to revolutionize enterprise data storage, our mission remains: to provide a simple, flexible, and resilient as-a-service storage platform that not only addresses current data and storage management needs, but mitigates future risk and uncertainty. Through continuously improving services and the broadest set of outcome-driven SLAs, Pure is the only data storage platform future-proofed for innovation." — Prakash Darji, GM, Digital Experience, Pure Storage

"Today's enterprises demand more than just technology; they seek assured outcomes. Reliable, flexible consumption models for enterprise storage that scale with business needs are essential. Pure Storage's STaaS platform offers a market differentiating, comprehensive set of guaranteed SLAs, striking a balance between flexibility and simplicity while delivering high performance and resilience - all in support of customer growth in today's dynamic business landscape." — Lara Greden, Senior Research Director, IT Infrastructure as-a-Service Solutions, Flexible Consumption, and Circular Economy, IDC

Also Announced Today at Pure //Accelerate:

• Industry-First Innovations in the Pure Storage Platform Help Customers Keep Pace with AI's Rapid Evolution

Learn More:

• Blog: Tackle AI and Cyber Resiliency w/ Industry-first Innovations

About Pure Storage
Pure Storage (NYSE: PSTG) delivers the industry's most advanced data storage platform to store, manage, and protect the world's data at any scale. With Pure Storage, organizations have ultimate simplicity and flexibility, saving time, money, and energy. From AI to archive, Pure Storage delivers a cloud experience with one unified Storage as-a-Service platform across on premises, cloud, and hosted environments. Our platform is built on our Evergreen architecture that evolves with your business – always getting newer and better with zero planned downtime, guaranteed. Our customers are actively increasing their capacity and processing power while significantly reducing their carbon and energy footprint. It's easy to fall in love with Pure Storage, as evidenced by the highest Net Promoter Score in the industry. For more information, visit www.purestorage.com.

Pure Storage, the Pure Storage P Logo, Evergreen, Evergreen//One, Pure1 and the marks on the Pure Storage Trademark List are trademarks or registered trademarks of Pure Storage Inc. in the U.S. and/or other countries. The Trademark List can be found at purestorage.com/trademarks. Other names may be trademarks of their respective owners.

Analyst Recognition:
Leader in the 2023 Gartner Magic Quadrant for Primary Storage
Leader in the 2023 Gartner Magic Quadrant for Distributed File Systems & Object Storage

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SOURCE Pure Storage

FAQ

What new services did Pure Storage announce on June 19, 2024?

On June 19, 2024, Pure Storage announced new cyber resilience services including enhanced Cyber Recovery and Resilience SLA, Security Assessment, and AI-powered Anomaly Detection.

What improvements does the enhanced Cyber Recovery and Resilience SLA offer for PSTG?

The enhanced Cyber Recovery and Resilience SLA now includes disaster recovery scenarios, customized recovery plans, and ongoing cybersecurity strategy reviews.

How does Pure Storage's new AI-powered Anomaly Detection benefit PSTG users?

The new AI-powered Anomaly Detection identifies threats like ransomware and Denial of Service attacks using machine learning models to detect unusual behavior, helping to mitigate operational impacts.

What is the purpose of Pure Storage's new Security Assessment for PSTG?

The new Security Assessment offers deep visibility into fleet-level security risks and provides actionable recommendations to enhance cyber resilience and benchmark security posture.

How does the new Site Rebalance SLA benefit PSTG customers?

The new Site Rebalance SLA allows organizations to adjust storage capacity commitments annually, providing flexibility to meet evolving storage needs.