N-able, Inc. has bolstered its Cove Data Protection platform with the launch of Anomaly Detection as a Service (ADaaS), embedding proactive threat detection into its architecture at no additional cost or management overhead. This upgrade, featuring Honeypots as its first capability, strengthens defenses against escalating cyberattacks targeting backups, particularly for MSPs and midmarket IT teams. Please see the finance card above for the latest NABL stock performance, currently trading at $8.22 USD with a market cap of $1.54B.
With cyberattacks surging—ransomware alone cost businesses $1.85 billion globally in 2024—Cove’s ADaaS counters the growing trend of bad actors targeting backups to disrupt recovery. Unlike traditional “build-your-own” solutions that burden businesses with securing infrastructure, Cove’s Honeypots detect unauthorized access attempts, such as brute-force attacks, before they reach production systems or backups. This early-warning system buys critical time to quarantine threats, reducing the risk of unrecoverable data loss.
John Joyce, CEO of CRS Technology Consultants, emphasized the value for lean teams: “As a high-performing team of 24, we rely on tools that deliver security without adding operational burden so that we can confidently serve thousands every day. Our customers trust us with their businesses, and that trust demands data resilience. The new Anomaly Detection functionality in Cove, starting with Honeypots, gives us peace of mind since it is delivered as a service: it’s always on, always working, and doesn’t require constant oversight.”
The platform’s design aligns with the needs of managed service providers (MSPs) and midmarket IT teams, offering enterprise-grade protection without complexity. N-able’s focus on scalability and integration supports its 25,000+ customers, processing over 1.5 million backups monthly, as noted in recent company reports.
“Backups are under attack, and bad actors want to get to your data as soon as they penetrate your network, making security-first architecture essential,” said Stefan Voss, Head of Product for Cove Data Protection. “ADaaS is designed to offer maximum protection with zero added complexity, turning backup from a passive safety net into an active layer of defense.” Future enhancements will include alerts for suspicious configuration changes, such as unauthorized backup exclusions, further fortifying resilience against sophisticated threats like ransomware, which increasingly target backup policies to evade detection.
N-able’s stock (NABL) reflects investor confidence in its cyber resiliency focus, though it’s down from a year-high of $13.12 to $8.22, as seen in the finance card above. The ADaaS launch, alongside recent innovations like Fortified Copies (October 2024), positions N-able to capitalize on the $8.6 billion global backup software market, projected to grow at a 10.3% CAGR through 2030.
For more details on Cove Data Protection, visit: https://www.n-able.com/products/cove-data-prote...
At N-able, our mission is to protect businesses against evolving cyberthreats with an end-to-end cyber resiliency platform to manage, secure, and recover. Our scalable technology infrastructure includes AI-powered capabilities, market-leading third-party integrations, and the flexibility to employ technologies of choice—to transform workflows and deliver critical security outcomes. Our partner-first approach combines our products with experts, training, and peer-led events that empower our customers to be secure, resilient, and successful. n-able.com
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