Palo Alto Networks Unveils Cloud-Based Mobile Security, Venture Fund

Palo Alto Networks (NYSE: PANW), the next-generation firewall provider, has introduced a cloud-based service for remote offices and mobile users.

The move comes as Palo Alto Networks continues to build out a Moreover, a Managed Security Service Provider (MSSP) Specialization and Cloud Security Service Provider (CSSP) Specialization, both of which are available to partners by invitation only (last we heard).

Meanwhile, the new GlobalProtect cloud service eliminates the operational hurdles posed by traditional distributed security infrastructure approaches, Palo Alto Networks said.

What Is Palo Alto Networks GlobalProtect?

GlobalProtect delivers the preventive capabilities of the Palo Alto Networks Next-Generation Security Platform to provide organizations with protection against cyberattacks across globally distributed network and cloud environments, according to Palo Alto Networks.

In addition, GlobalProtect enables organizations to add or remove remote locations and users and establish and adjust security policies as needed, the company claims. This ensures organizations can scale to meet growth demands, Palo Alto Networks indicated, to achieve consistent security throughout their computing environments at a predictable cost.

GlobalProtect is expected to be generally available in August, and will be licensed according to bandwidth requirements of 200 Mbps to 100,000 Mbps.

Furthermore, GlobalProtect for mobile users will be licensed per user -- from 200 users to over 100,000, Palo Alto Networks said.

Palo Alto Networks also unveiled the Palo Alto Networks Application Framework, a cloud-based framework that allows organizations to consume and implement security applications from any provider.

The Palo Alto Networks Application Framework extends the capabilities of the Palo Alto Networks Next-Generation Security Platform and provides organizations with "automated, consistent and scalable breach prevention capabilities, all delivered from the cloud," the company noted in a prepared statement.

Palo Alto Networks Forms $20 Million Security Venture Fund

Meanwhile, Palo Alto Networks also this week announced a $20 million security venture fund to help early stage capital investors drive the development of security applications for the Palo Alto Networks Next-Generation Security Platform.

The fund will enable entrepreneurs and security vendors to "focus on developing high-value functionality for customers, instead of developing the infrastructure and data stores necessary to effectively deliver their applications and establish a foothold in the market," Palo Alto Networks indicated.

"This new fund will build upon our reputation for developing innovative, next-generation security technologies and demonstrate the excellent momentum that we have achieved with our ecosystem of security partners. It represents an essential part of our mission to help organizations prevent cyber breaches," Chad Kinzelberg, Palo Alto Networks' senior VP of business and corporate development, said in a prepared statement.

Palo Alto Networks: Company Background

Palo Alto Networks today offers a variety of enterprise cybersecurity solutions, including Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud offerings.

The company supports more than 39,500 customers worldwide and recorded fiscal year 2016 revenue of $1.4 billion, up 49 percent year over year.