Zirra Market Analysis
Cybersecurity Trends in Israel and New York
Methodology
The Zirra Analysis Market Report is synthesized from many inputs, most notably the wisdom of the crowd, the output of aggregation and data collection technology, and the ratings and metrics produced by our proprietary algorithms. The report is built on external and public information on a company or companies, and provides insights and conclusions obtained from that information.
None of the opinions or insights belong to any Zirra employees. All of them are grounded in the integration of a variety of sources. Some statements may sound opinionated, but these are the composite of relevant inputs and crowd opinions, vetted against similar historical situations of comparable companies.
Fact
We use no inside information. Information offered in the report that is usually non-public by nature, such as revenue figures, trade secrets, share structures and others, may be missing or somewhat inaccurate in the report. In some cases, such as with valuations, the numbers are generated by our algorithmic models. We do get help from industry experts. We factor their opinions into the algorithm as well as into the qualitative sections. Experts that speak on the record are usually accessible for further questions. Some experts choose to stay anonymous, and in these cases we can provide detailed logs of their contributions (that still maintain their anonymity). Mathematical figures such as ratings and valuations are based on our proprietary algorithms. The intended purpose is as a benchmark for your own process; we cannot “prove” validity of these outputs. In addition, we provide a lot of raw collected data. This is what our aggregation and collection technology has gathered and flagged as important for the company in question. We provide it as the factual basis for the synthesized statements in the report, and for you to do further analysis on if you wish. Finally, we do not recommend whether or not to invest. Our duty is to help you perform your job better. We pride ourselves on bringing transparency to our customers. Similarly, we encourage you to always be transparent, open, and candid with us. Key Benefits
● A timeline overview depicting relevant companies’ evolutions, enabling a reader to get to
know the respective company in a snapshot view.
● A summary of industry trends that pertain specifically to the market and localities in
question.
● Similarly derived, key insights into possible risks & success factors. Table of Contents
Methodology Fact Key Benefits
Background
Key Findings Market Israeli Market New York Market Solution Trends and Insights Israeli Trends New York Trends Competition Israeli Startups Opportunities Risks Strategic Considerations New York Startups Opportunities Risks Strategic Considerations Multinational Companies of Note Accenture CyberArk EY Herjavec IBM
Competitor Profiles BioCatch Cato Networks Cybereason Deep Instinct Illusive networks ThetaRay Claroty Flashpoint HYPR Corp Security Scorecard Situation Analysis
Background
The need for strong protection against cyber-attacks has never been greater, as the complexity and cost of cybercrime damage keeps increasing every year. The continued evolution of these threats results in a sustained funding flow, despite the saturation and hype in the market. Further, the space is seeing frequent and profitable M&A deals, equally attracting the attention of both investors and entrepreneurs.
Israel attracts 15% of the global investment in cybersecurity. The country's cybersecurity cluster is one of the strongest in the world, with top talent being produced at the intelligence units of the
IDF. While the local market is small, the competition for talent in the space is significant.
New York is the financial capital of the United States and has the largest customers in financial services in the Western World. It's a gateway for business, but still developing as a cyber hub. New regulation will significantly accelerate the development of the cyber security cluster in New York.
Key Findings
Market
MarketsandMarkets reports that the cyber security market was estimated to be worth $137.85 billion in 2017 and, growing at a CAGR of 11%, is predicted to be worth $231.94 billion by 2022.
Factors facilitating this growth include the growing security needs of the Internet of Things (IoT) and Bring Your Own Device (BYOD) trends, as well as increased deployment of web and cloud- based business applications.
According to Cybersecurity Ventures, cybercrime damage costs are expected to grow to $6 trillion each year by 2021, up from $3 trillion in 2015. Further, Gartner reports that worldwide spending on information security products and services will reach $86.4B in 2017, an increase of 7% over 2016, with spending expected to grow to $93B in 2018.
The global cybersecurity space saw numerous venture capital and M&A deals during 2017.
Financing deals hit an all-time quarterly high of 146 deals in Q1 ’17, showing a 26% increase from the previous quarterly high.
Diverse companies closed three-figure rounds of funding - including SmartSky Networks ($170 million), Netskope ($100 million), Illumio ($125 million), Cybereason ($100 million), and
BlueteamGlobal (over $125 million).
Some of the largest M&A deals of the previous year include Micro Focus’ acquisition of HPE’s IT management, big data and security lines for $8.8 billion, Intel’s acquisition of Mobileye for
$15.3 billion, Advent International’s acquisition of Morpho for $2.7 billion, DigiCert’s acquisition of Symantec’s website security and PKI solutions business for $950 million in cash and 30% of
DigiCert’s common stock, Symantec’s acquisition of Fireglass in July and Gemalto’s purchase of
3M’s identity management business for $850 million.
Israeli Market
Israel attracts 15% of the global investment in cybersecurity. The country’s cybersecurity cluster is considered one of the strongest in the world, with top talent being produced at the intelligence units of the Israel Defense Forces.
While global investment in cybersecurity startups has shown signs of stagnation in recent years, Israel – second only to the U.S. market – has remained strong and showed impressive numbers, experiencing a surge in funding and continued innovation.
During the first half of 2017 Israeli cybersecurity startups raised $434 million in 28 rounds, showing a 25% increase in the total funding sum against the same period on the previous year although the number of rounds remained similar. The average round rose 7% to $15.5 million.
During this same period, four startups were sold for $272 million, which represents a 160% rise in the sum of M&A deals and is a testament to the strength of the market. The majority of this sum came from the acquisitions of LightCyber by Palo Alto Networks ($130 million), and Hexadite by Microsoft ($100 million).
Albeit impressive, these numbers are still far from previous M&A deals in the space such as Adallom’s acquisition by Microsoft for $320 million in 2015 and Trusteer’s acquisition by IBM for $1 billion in 2013.
Another noteworthy acquisition in the Israeli market is Fireglass’ acquisition by Symantec. The purchase price of this deal was not disclosed but it is thought to be around $250 million. Symantec has been a leading serial acquirer of security companies in recent years, gobbling up Lifelock for $2.3B earlier this year and Blue Coat for $4.65B in 2015.
New York Market
The United States houses 63% of the world’s privately-owned cybersecurity companies, 33% of these being based in California. New York holds the 4th place with 6% of the cybersecurity companies in the US, after Virginia (8%) and Massachusetts (7%).
CBInsights found that the most well-funded privately-owned cybersecurity company in the US is the
California-based endpoint protection company Tanium, with $395M in total disclosed funding. This is followed by Maryland’s Tenable Network Security with $302M raised to date, and then California- based smartphone security company Lookout, with $281M. According to the report, the three most funded cybersecurity companies in New York, as of September 2017, are Payfone ($69M),
Dashlane ($50M), and Flashpoint ($43M).
New York City is regarded as the finance capital of the world and has been ranked at the top of the World’s Financial Center report by the Global Financial Centers Index (GFCI). New York is the home to Wall Street, the most active stock marketplace and the New York Stock Exchange, the largest stock exchange by market capitalization. The city houses some of the largest Fortune 500 and Fortune 1000 companies, as well as banks such as Goldman Sachs, Morgan Stanley, Merrill
Lynch, and JP Morgan.
New York’s position as a financial capital makes the city vulnerable to cyber attacks. August 28, 2017 was the first compliance date of the nation’s first cybersecurity regulation. The New York regulation requires banks, insurance companies, and other financial services institutions to have a cybersecurity program designed to protect consumers’ private data; a written policy or policies that are approved by the board or a senior officer; a Chief Information Security
Officer to help protect data and systems; and controls and plans in place to help ensure the safety of the city’s financial services industry.
Solution Trends and Insights
Organizations are constantly facing new kinds of cybersecurity challenges, resulting in a continual need to stay on top of new technology developments and adapt their protection accordingly. Main threats include the constant spike in the sophistication of hackers and attacks, the rising tide of ransomware, and the emergence of new connected platforms that require special protection - such as IoT devices, connected vehicles, and AI industrial machines.
Israeli Trends
Some of the emerging technologies and trends in Israel include:
● Funding deals in recent years show that investors are looking to back platform solutions
rather than niche or single-purpose products, with mobile security, vulnerability & risk
management, network security, SCADA security, and incident response being the most funded
fields.
● Investments in cyber insurance and vulnerability and risk management have seen a rise
in management tools that help control and lower the risk of a potential breach - providing
insights on the company’s network vulnerabilities to threats has become an essential tool to
offset the high cost of cyber attacks.
● The cybersecurity insurance sector is also expected to grow rapidly in the coming years,
as insurers look for solutions that enable them to assess the impact from the loss of data by
businesses.
● Despite this trends, emerging startups are focusing on new fields representing new areas of
risk, such as IoT security, drone security, and cyber insurance.
● IoT security is forecast to become one of the fastest growing trends in the near future,
powered by the rising purchase and development of smart products - such as autonomous
cars and smart assistants - that create the risk that hackers will exploit components and code
vulnerabilities of various IoT devices. ● As cybersecurity capabilities become more advanced, companies are exploring the potential
uses of blockchain technology to protect data and remove the use of personal passwords to
access centrally stored documents on inadequately protected servers.
● Israel is innovating in the model for company creation with Team8, a company creation
platform led by cyber security veterans and backed by large corporations (Alactel-Lucent,
Microsoft, Qualcomm, Cisco, etc). Team8 has already spun out 4 different companies since its
inception and attracted over $56M in funding.
New York Trends
New York’s cybersecurity space is mostly populated by institutions creating solutions for the financial services industry. In early 2017, New York State announced their final regulations for banks and insurers to meet minimum cybersecurity standards and report breaches to regulators to combat cyber crime and limit damages to consumers. Previous regulations installed in 2014 saw a series of high-profile data breaches that resulted in losses of hundreds of millions of dollars to U.S. companies, including Target, Home Depot, and Anthem. The new regulations call for banks and insurers to scrutinize security at third-party vendors that provide them goods and services. In 2005, the New York Department of Financial Services found that a third of 40 banks polled did not require outside vendors to notify them of breaches that could compromise data. Institutions subject to the regulation include state-chartered banks, as well as foreign banks licensed to operate in the state, along with any insurer that does business in New
York. Several supervised entities rely on an affiliated company outside NY or the US for their global cybersecurity operations. Although an affiliate may fall outside New York’s supervisory effort, all or part of the affiliate program can fall under New York’s supervisory grip.
By August 28, 2017, all banks and insurers were required to have a cybersecurity policy in place including the following: formal risk-based cybersecurity program, 14-point cybersecurity policy, seven-point incident response plan, a qualified Chief Information Security Officer, continuously trained cybersecurity personnel, limited user access privileges, and 72-hour notice of certain events.
By March 2018, all institutions need to complete the next phase of the program, which requires banks to implement technical requirements such as multifactor authentication and periodic penetration testing, and vulnerability scanning. Vulnerability scanning and penetration testing requirements are already common practice and even recommended by the federal security guidelines. However, other areas such as multifactor authentication or stronger controls over access to nonpublic information are stricter than federal guidelines and according to American Banker, and some banks are struggling to comply. Hackers at 2017’s Black Hat conference identified multifactor authentication as the most difficult control to circumvent. Competition
In terms of features, funding and traction, the Israeli and New York Cybersecurity market was narrowed down to the 10 noteworthy companies mentioned in this report, BioCatch, Cato
Networks, Cybereason, Deep Instinct, Illusive networks, ThetaRay, Claroty, Flashpoint, HYPR
Corp, and SecurityScorecard.
From the Israeli space, companies with headquarters or additional offices in NY include BioCatch, specialized in Behavioral Biometric Authentication; illusive networks, specialized in Deception
Technology; ThetaRay, a company developing Specialized Threat Analysis and Protection technology; and Claroty, specialized in securing and optimizing OT networks that run the critical infrastructure;
Israeli companies with additional offices or US headquarters in outside New York (specifically
California) include Cybereason, offering endpoint detection technology; Cato Networks, company providing organizations with a cloud-based and secure global SD-WAN; and Deep Instinct, a company developing an AI-based cyber security solution that provides on-device and real-time detection and prevention.
From the New York space, we included companies such as Flashpoint, a Business Risk Intelligence company; SecurityScorecard, a company helping organizations monitor key security risks around their cloud-based systems by identifying vulnerabilities from a hacker’s perspective; and HYPR Corp, a company offering a decentralized authentication product that ensures the safety of personal credentials such as biometrics, PINs and passwords.
Startups
BioCatch Illusive Networks ThetaRay Claroty Cato Networks
DNA Analysis
Founding Year 2010 2014 2013 2014 2015
Hod Hasharon, New York City, Mainland Tel Aviv, Israel Tel Aviv, Israel Tel Aviv, Israel Israel NY, US
Total Funding $11.6M $30M $30.5M $32M $50M
Last Funding $10M (09/2014) N/A (07/2017) $17M (12/2015) $32M (09/2016) $30M (09/2016)
Notable AdRoll, BLender, Undisclosed Undisclosed ING, OCBC Undisclosed Customers Worldwide IT
Number of 67 72 57 69 79 Employees
22 20 28 28 22 R&D 32% 28% 42% 40% 27%
6 16 7 7 17 Sales 9% 22% 12% 10% 21%
11 9 8 9 8 VP/CXO (Politics) 16% 12% 14% 13% 10%
50 (10) 47 (23) 44 (13) 50 (15) 58 (15) Israel (US) Based (Proximity) 74% (15%) 65% (31%) 77% (23%) 72% (21%) 73% (19%)
Cybereason Deep Instinct Flashpoint SecurityScorecard HYPR Corp.
DNA Analysis
Founding Year 2012 2014 2010 2013 2014
Mainland Boston, MA, US Tel Aviv, Israel New York, US New York, US New York, US
Total Funding $188.6M $32M $43M $62.2M $13.8M
Last Funding $100M (06/2017) $32M (07/2017) $28M (07/2017) $27.5M (10/2017) $10M (10/2017)
Samsung, Notable Netflix, Intuit, Undisclosed Undisclosed Undisclosed Mastercard, Vhi Customers McDonald’s Healthcare
Number of 344 83 136 120 34 Employees
85 24 39 47 13 R&D 25% 29% 29% 38% 38%
84 13 25 28 7 Sales 24% 15% 18% 35% 22%
22 8 14 10 7 VP/CXO (Politics) 6% 12% 10% 8% 22%
130 (170) 57 (21) 0 (129) 0 (107) 0 (34) Israel (US) Based (Proximity) 38% (49%) 68% (25%) 0% (95%) 0% (89%) 0% (100%)
Israeli Startups Opportunities
● Israel is considered a cybersecurity powerhouse, with a well-established cyber community
that attracts international delegations and events and brings together large companies,
startups, associations, and governments.
● Experts forecast that the country will continue to be a notable destination for worldwide
organizations to establish their cybersecurity R&D centers.
● Further, leading tech giants such as Siemens, GE, Cisco, IBM, and Microsoft are expected to
continue performing M&A deals with Israeli startups in the upcoming years.
● The Israel Defense Forces continuously produces experienced personnel which exits the
army straight into the industry.
● The government support in developing the industry has resulted in the creation of new
clusters, financed incubators, and tax incentives - among other benefits.
● With hundreds of active startups, the israeli cybersecurity space comprises a growing
number of segments, including: vehicle-to-vehicle communication, threat intelligence,
endpoint security, network security, connected devices, critical infrastructure, data
protection, fraud detection, and crypto mining.
Risks
● Israel’s main weakness lies in commercialization, as the local market is negligible and
startups need to build strong US-based sales operations to compete with the strong local
industry.
● Despite the significant growth experienced over the last years, Israel is still trailing behind
the United States when it comes to market size, funding, and number of startups.
● The country has a unique industry culture which promotes risk taking and doesn’t punish
failure. Strategic Considerations
● The quality of the teams and the company’s ability to attract top talent. Everyone seems
to have served in 8200, but units and prestige do matter. However, this isn’t an
inexhaustible source.
● The conversion of pipeline from proof of concept to paying customers, understanding the
sales cycle and churn rate.
● Startups that don’t apply AI and Machine Learning and rely on a manually configured set of
rules will become obsolete by automation.
New York Startups
The new regulations demanding New York’s banks and financial services companies to install specific cybersecurity technologies into their systems could represent opportunities and risks for the space. Additional risks include general cybersecurity threats affecting not only New York’s space but the rest of the US and the world.
Opportunities
● New York is the financial capital of the US and has the largest customers in financial services
in the Western World. Proximity to these financial institutions is an opportunity for
cybersecurity companies in the area.
● Opportunities include an advantage for fintech cybersecurity companies to develop
targeted solutions that addresses the requirements issued by the New York
Department of Financial Services.
● New York City is planning to make the city the cybersecurity global capital. New York
City Economic Development Corporation’s Cyber NYC is looking for vendors to design,
launch and manage a Cyber Center, talent partnerships, and academic information
exchanges.
● According to McAfee, the profitability of traditional ransomware campaigns will
continue to decline as vendor defenses, user education and industry strategies improve to
counter them.
● Gigamon states that the industry will develop a reputation management scheme that will
allow individuals to verify their identities through an operation that records an
interaction only a person can have. This reputation scheme will be universal and follow an
individual across platforms, domains and online venues, even if the person wishes to remain
anonymous.
Risks
● Even though New York is the undisputed financial capital of the US and one of the most
important financial centers in the world, New York’s cyber hub is still developing and it
doesn’t attract as many companies as California, where 33% of all the cybersecurity companies in the US are located. New York holds the 4th place with 6% of the
cybersecurity companies after Virginia (8%) and Massachusetts (7%).
● New York’s position as a financial capital makes the city vulnerable to cyber attacks.
Cyber thieves have stolen $35K per minute from financial institutions during the past six
years.
● In early 2018, Cybersecurity researchers found a flaw in millions of computer chips. The
problem can be found on smartphones, personal computers, browsers and the
computers used for cloud storage by companies like Google, Amazon Web Services, Apple
and Microsoft. The flaw could make it easier for hackers to steal passwords and other
sensitive personal data.
● According to experts in Cybersecurity, in 2018 cyber fraud will combine traditional
financial crimes, such as the use of “money mules”, where fraudsters use automated bot
attacks to apply for fraudulent loans or hijack existing accounts and transfer the money to
other countries. Hired hands or unwitting accomplices then withdraw the money and
deposit it elsewhere to hide perpetrators’ tracks.
● Companies relying on AI for their cybersecurity solutions will see that as a risk as AI
needs good data to learn and develop its predictive capabilities. In many cases, bad
data leads to false positives, a huge problem in cybersecurity.
● An underground economy has been created on the Dark Web to buy, sell, and
repurpose new exploits from NSA and CIA leaks. Every day hackers are now capable of
launching sophisticated and large-scale attacks on corporations.
● Proofpoint notes already there has been a 20% year-over-year increase in suspicious
domain registrations intended for fraud, typosquatting, spoofing, and other malicious
schemes.
● The U.S. and North Korea have been quietly carrying out cyber attacks against each
other for years and ramping up their digital aggression. According to LogRythm,
tensions will continue to escalate, and the public will eventually be impacted for the first
time. Strategic Considerations
● Experts expect the cyber security industry to continue to grow and mirror the growth of
technology across verticals changed by technology. For all these verticals there will be
cyber companies to address threats affecting specific areas.
● The trend of decentralization and blockchain will also affect cybersecurity. As the
market moves from centralized cloud systems to distributed systems with smart contracts
documented on the blockchain, the space of identity management and personal security will
play a bigger role.
● NY has one of the strictest cybersecurity regulations at a federal or state level, and
each of the requirements could take months of work. Experts recommend companies in the
space to take the regulations seriously and bring in a third-party advisor where necessary,
because the regulator will not take kindly to those companies that violate its new rules.
Multinational Companies of Note Accenture
Founded in 1989 and headquartered in Dublin, Ireland, Accenture is a global management
consulting and professional services company that offers consulting, technology, and outsourcing
services worldwide.
Accenture provides next-generation cybersecurity services that enable businesses to protect
their entire value chain end-to-end, including security advisory services for boards and
executives, advanced threat services, attack surface reduction, automated identity governance, API
security, secure application development, and managed cyber defense and compliance.
In June 2016, Accenture opened a cybersecurity R&D lab in Israel to focus on broad research in
advanced threat intelligence, industrial internet security, cyber defense solutions.
Over the last year, Accenture has acquired several cybersecurity companies, including
Endgame, iDefense Security Intelligence Services, and Arismore.
CyberArk
Founded in 1999 and headquartered in Petah Tikva, Israel, CyberArk is a security company
offering privileged account security to businesses in the financial services, energy, retail and
healthcare markets.
The company’s proprietary technology, known as digital vault technology, surrounds data with
eight layers of security within an existing network perimeter, creating a central repository to share
and store proprietary or confidential data.
CyberArk has acquired four cybersecurity companies to date: Viewfinity, Agata Solutions,
Cybertinel, and Conjur.
EY
Founded in 1989 and headquartered in London, United Kingdom, EY (formerly Ernst & Young) is
one of the largest professional services firms in the world and considered one of the "Big Four"
accounting firms. EY’s risk and cybersecurity group is present in over 14,500 firms of more than 150 countries,
providing advice on transformational cybersecurity improvement programs that focus on cyber
threat management, identity and access management, data protection, privacy, and “post-attack”
services.
The company was named as one of the world’s top cybersecurity consulting organizations to
watch in 2017 by Cybersecurity Ventures.
Herjavec
Herjavec Group was founded in 2003 by Robert Herjavec. The company has become one of the
fastest-growing technology companies in North America with sales of over $400M. The
company has offices globally including three headquarters in Toronto (Canada), New York City
(USA) and Reading (United Kingdom).
Herjavec Group delivers managed security services globally, supported by a Security Operations
Center. The company partners with technology vendors supporting 40 security platforms on the
pulse of the latest emerging technologies. The company offers security consulting, PCI Compliance
solutions, Identity and Access Management, Managed Security Services, and Remediation &
Incident Response.
In October 2016, Herjavec Group acquired Aikya Security Solutions, a security advisory
consulting and solution implementation company that provides identity and access management,
for an undisclosed amount.
IBM
Founded in 1911 and headquartered in Armonk, NY, United States, IBM manufactures and
markets computer hardware, middleware, and software; and provides hosting and consulting
services in areas ranging from mainframe computers to nanotechnology. The company is also a
major research organization, holding the record for most patents generated by a business for
24 consecutive years.
In recent years IBM has shifted its focus towards what they refer to as “strategic
imperatives” - which include high-margin segments such as cloud, cybersecurity, AI, and data
analytics - in detriment of traditional business tools such as mainframes. This transition was initiated approximately five years ago, and since then the tech giant has struggled to grow its revenues.
IBM has three R&D centers in Israel, located in Haifa, Be'er Sheva, and Givatayim.
Founded as a small scientific center in 1972, the Haifa R&D site is the largest IBM Research
Division lab outside of the United States. Over the years, the center has expanded into a major lab that leads IBM’s development of innovative technological and cognitive solutions.
In 2014, IBM and Ben-Gurion University of the Negev signed an agreement to launch the
Cybersecurity Center of Excellence (CCoE) focused on the field of protection of infrastructure and assets. The center is located in the university’s campus, close to Be’er Sheva's cyber technology park.
The third and newest center was announced in 2015, when IBM signed a 10-year lease contract of seven floors at the HaShachar Tower in Givatayim for NIS 9.5 million per year. This location is used by researchers working on hardware development, systems and storage, machine learning, and cognitive technologies.
The overall number of professionals working in IBM R&D labs in Israel is reportedly north of 1,000, with LinkedIn showing over 2,000 IBM employees located in Israel.
Competitor Analysis
Competitor Profiles
BioCatch
Behavioral Biometric Founded in 2010 Tel Aviv, Israel 67 Employees Authentication
BioCatch provides banks and e-commerce companies with a technology to detect cyber threats and online fraud before it happens and to deliver solutions for mobile and web applications. Using its own behavioral biometric authentication and threat detection technology, BioCatch analyzes bio- behavioral, cognitive and physiological factors to generate user profiles for banking and e- commerce sites, thereby decreasing the amount of unsafe transactions to combat cyber threats.
Its technology is based upon what the company refers to as “invisible challenges” to monitor user behavior and conclude if the user is fraudulent or not. BioCatch detects account takeovers, RAT, and malware attacks all using this behavioral and cognitive analytics approach.
Financial Fundamentals Key Customers Awards & Conferences
● The company has raised ● The company has yet to ● BioCatch has been awarded the
$11.6M in three funding disclose their following industry awards: 2017 rounds. customers. European Product Innovation Award, 2017 Red Herring Europe Award, ● Seed round of $600K closed ● The company releases 2017 Red Herring North America in March 2012, Seed round of case studies where they Award, Singapore Fintech Festivals $1M closed in September specify that their clients Fintech Award, 2016 PYMNTS 2013, and Series A round of include a top-5 credit Innovation Award, $10M closed in June 2014. card issuer, a top Latin- American e-Retailer, a ● Investors include JANVEST ● The company has been included in leading UK bank, a top- Capital Partners, Blumberg industry top list such as: RegTech 5 UK retail bank, and a Capital, OurCrowd, and Top 100 Power List, Top 30 Startups top-50 US bank. Centillion. to watch by ENLUME, Top 10
Cybersecurity companies to watch
by Momentum Partners, Top NYC-
Based Startups to Take on 2017 by Inc.
Zirra Ratings
HR Situation
BioCatch was founded in 2011 by Benny Rosenbaum, CTO Avi Turgeman, and VP Cyber
Strategy Uri Rivner. Prior to founding BioCatch, Avi Turgeman co-founded the voice communication and voice recognition startup VocalZoom. He also co-founded and was CEO of the mobile commerce company Tapingo. Currently, Tapingo has over 200 employees and has raised
$36M in total funding. Uri Rivner started his career at the anti-fraud company, Cyota where he held the following positions: VP International Marketing, Product Marketing Manager, Head of
International Channels, and Asia Pacific Business Development Manager. Cyota was acquired in
2005 by RSA Security for $145M. After a 6 month stint as interim CEO of Funtactix, Uri went back to RSA Security as its Head of New Technologies in Identity Protection.
Benny Rosenbaum was the company’s CEO from its founding till his death in 2015. Before
BioCatch, Benny Rosenbaum founded Magic Software Enterprises, established the enterprise division of Babylon, and served as CEO of a number of startup companies. Current CEO, Eyal Goldwerger holds an MBA from the European Institute of Business
Administration (INSEAD). Before BioCatch, Eyal was CEO of TargetSpot, XMPie, and GoCargo.com
(which he also founded). Eyal Goldwerger took the CEO position in April 2016, before him Ron
Moritz was the interim CEO.
Other executives include: CFO Richard Sheldon, VP Marketing, Frances Zelazny, VP Sales
Americas, Kevin Donovan, VP Sales EMEA, Richard Perry, VP Product Management, Oren
Kedem, and VP R&D, Or Chubook.
According to LinkedIn data, BioCatch has 67 employees, 11 of whom are in executive positions. Employees are located in Israel (50), US (10), and UK (2).
Available data suggests that the company has grown by 91% over the last two years, between
January 2016 and January 2018, with Sales showing the largest change at +67%.
From their staff, 32% is dedicated to research and development, while 23% is focused on business development. Additional departments of importance include sales, which accounts for
9%, and finance, which accounts for 7%.
BioCatch is currently hiring for 11 positions, including DevOps Engineer, Sales Director UK/EMEA,
Integration Manager, QA Automation Engineer, Senior Backend Engineer, Technical Support
Specialist, Machine Learning Specialist, Controller, Data Scientist, Customer Facing, Analyst, and
Inbound Product Manager.
There are no reviews available about BioCatch on employee review website Glassdoor.
Intellectual Property
BioCatch has 27 patents approved, and 19 patents pending, according to the United States Patent and Trademark office, with Avi Turgeman, Yaron Lehmann, Itai Novick, Edo Dekel, and Lev
Kadyshevitch listed as the primary inventors. In addition, the company has 2 registered trademarks and may have more patents pending. Latest patents include:
● Patent 9541995 approved on January 10, 2017, titled "Device, method, and system of
detecting user identity based on motor-control loop model"
● Patent 9838373 approved on December 5, 2017, titled "System, device, and method of
detecting a remote access user" ● Patent 9531733 approved on December 27, 2016, titled "Device, system, and method of
detecting a remote access user"
● Patent 9483292 approved on November 1st, 2016, titled "Method, device, and system of
differentiating between virtual machine and non-virtualized device"
● Patent 9450971 approved on September 20, 2016, titled "Device, system, and method of
visual login and stochastic cryptography"
To see the complete list of granted and pending patents click here.
Customer Case Studies
The company has published the following case studies:
● A Top-5 Global Credit Card Issuer Detects New Account Fraud and Reduces False
Acceptance Rates with Behavioral Biometrics
● A Top Latin American e-Retailer Detects New Account Fraud with Behavioral
Biometrics
● A Leading UK Bank Adds High-Risk Mobile Functionalities with Behavioral
Authentication
● Top-5 UK Retail Bank Detects Account Takeover with Behavioral Biometrics
● A Top-50 U.S. Bank Authenticates Legitimate Users with Behavioral Biometrics
● A Top-5 UK Bank Detects Remote Access Trojans (RATs) with Behavioral Biometrics
Competition
Amongst the potential competitors, the two we have identified as the most direct in terms of funding and technology are SecuredTouch and BehavioSec. ● SecuredTouch was founded in 2014, is headquartered in Tel Aviv, Israel, and has 22
employees according to LinkedIn, with their staff spread between Israel (19), Australia (1),
Germany (1), and US (1). Their product line is centered around behavioral biometrics for
mobile, delivering continuous authentication technologies to strengthen security and reduce
fraud while improving customers digital experience. To date the company has raised $3.5M.
● BehavioSec was founded in 2007, is headquartered in Stockholm, Sweden, and has 23
employees according to LinkedIn, with their staff spread between Sweden (16), US (3), and
Germany (2). BehavioSec develops continuous authentication and verification technology
that provides identity and access management solutions. To date the company has raised
$7.69M.
Web Traffic
● BioCatch.com has seen 68,597 visits over the past 12 months, from December 2016 through
November 2017.
● The majority of web traffic is coming from Israel (28.42%), US (23.76%), UK (7.84%), China
(5.11%), and Canada (4.39%).
● 49.37% of the traffic is coming from organic search, followed by 35.06% from direct traffic,
and 11.88% from referrals.
Press
[11/2017] BioCatch Shows How Behavioral Biometrics Work With Nexsign
[10/2017] BioCatch VP touts behavioral biometrics as wave of the future
[05/2017] Banks Benefit from Behavioral Biometrics: BioCatch
[04/2017] Experian Enlists Behavioral Biometrics Startup to Combat Online Fraud
Cato Networks
Founded in 2015 Tel Aviv, Israel Cloud-Based Secure SD-WAN 78 Employees
Cato Networks provides organizations with a cloud-based and secure global SD-WAN. Cato delivers an integrated networking and security platform that securely connects all enterprise locations, people and data. The Cato Cloud reduces MPLS connectivity costs, eliminates branch appliances, provides direct, secure Internet access everywhere, and seamlessly integrates mobile users and cloud infrastructures into the enterprise network.
The company's products aim to meet the challenge of containing and managing network perimeters caused by the cloud infrastructure, Internet of Things, and mobility. In order to provide security for businesses with data on different devices, in different locations, and in the Cloud, Cato ties all of the client's data into Cato points of presence over encrypted links. The Cato cloud is connected to the general Internet, while traffic from the Internet is run through Cato's security before being delivered to customers.
Financial Fundamentals Key Customers Awards & Conferences
● The company has raised ● The company works ● In 2015 Cato Networks was named
$50M in two funding with numerous one of CRN’s Top 10 Coolest Security rounds. companies such as Startups, and was later named one of AdRoll, Pet Lovers the 25 coolest network security ● A Series A round of $20M and Centre, Fisher & vendors on CRN’s 2016 Security 100 a Series B round of $30M Company, Alewijnse, list. ● Investors include Greylock Sun Rich, Universal Partners, US Venture Healthcare, BLender, Partners, Singtel Innov8, Love Bonito, and and Aspect Ventures. Worldwide IT.
Zirra Ratings
HR Situation
The company was founded by CEO Shlomo Kramer and CTO Gur Shatz. Shlomo Kramer previously co-founded Check Point Software, creators of the first commercial Firewall, and Imperva, the innovator of the Web Application Firewall. Kramer was also an early investor and board member in cybersecurity companies including Palo Alto Networks, Trusteer and others. He was named CEO of the Year by SC Magazine in 2008, one of “20 luminaries who changed the network industry” by
Network World in 2006, and was inducted into the InfoSecurity Europe Hall of Fame in 2013. Gur
Shatz was the co-founder and CEO of Incapsula Inc., a Cloud-based web applications security and acceleration company. Before Incapsula, Gur was Director of Product Development, Vice President of Engineering and Vice President of Products at Imperva.
The management team is completed by CTO Tomer Wald, VP Worldwide Sales Alon Alter, VP
Sales America Nicky Fan, VP Asia Pacific & Japan Stree Naidu, VP Marketing Yishay Yovel, and
VP Operations Aviram Katzenstein.
According to LinkedIn data, Cato Networks has 79 employees, 8 of whom are in executive positions. Employees are located in Israel (58), US (15), and UK (2).
Available data suggests that the company has grown by 216% over the last two years, between
January 2016 and January 2018, with sales showing the largest change at +55%. From their staff, 27% is dedicated to research and development, while 21% is focused on sales.
Additional departments of importance include BD, which accounts for 16%, and marketing, which accounts for 5%.
Cato Networks is currently hiring for 7 positions, including Full Stack Developer, Automation
Engineer, Sales Development, DevOps Engineer, Software Developer, Platform Engineer, and Sales
Manager.
There are no reviews available about Cato Networks on employee review website Glassdoor.
Intellectual Property
Cato Networks doesn’t appear to have any patents to their name. The company holds 1 Trademark.
Customer Case Studies
The company has published the following customer case studies:
● AdRoll Transforms Mobile VPN Access to Amazon AWS with Cato
● Pet Lovers Deploys 100-site Sd-wan, Eliminates Firewalls With Cato Cloud
● Fisher & Company Slashes Mpls Costs, Improves Wan Performance With Cato’s Cloud-
based Sd-wan
● Alewijnse Transforms Global, Real-time Wan With Cato Secure Sd-wan
● Sun Rich Converges Network And Security Into Cato Cloud
● Universal Mental Health Services Eliminates Branch Firewalls
● Blender Breaks Free From The Box
● Appliance Elimination Makes Security Simple
● Managed It Provider Eliminates Appliance Sprawl, Improves Security Capabilities With
Cato Networks
Competition Amongst the potential competitors, the two we have identified as the most direct in terms of funding and technology are Versa Networks and VeloCloud Networks.
● Versa Networks was founded in 2012, is headquartered in Santa Clara, CA, and has 138
employees according to LinkedIn, with their staff spread between US (76) and India (54).
Versa enables service providers to deliver a secure and differentiated SD-WAN service across
enterprise and small-medium business markets. To date the company has raised $43.35M
from investors Sequoia Partners and Verizon Ventures.
● VeloCloud Networks was founded in 2012, is headquartered in Mountain View, CA, and has
140 employees according to LinkedIn, with their staff spread between US (104) and India
(21). VeloCloud Cloud-Delivered SD-WAN enables enterprises to support application growth,
network agility and simplified branch implementations while delivering optimized access to
cloud services, private datacenters and enterprise applications. To date the company has
raised $84M from investors NEA, Venrock, March Capital Partners, Cisco Investments and
The Fabric.
Web Traffic
● CatoNetworks.com has seen 3.24M visits over the past 12 months, from December 2016
through November 2017.
● The majority of web traffic is coming from US (36.36%), Israel (23.15%), Germany (6.04%), UK
(4.39%), and Singapore (3.28%). ● 47.80% of their traffic comes from direct traffic followed by organic search (23.69%) and
referrals (17.55%).
Press
[12/2017] News of Note—Cato Networks, AT&T, Comcast and more
[12/2017] Cato Networks Adds Avant to Channel Program in National SD-WAN Expansion
[04/2017] Shlomo Kramer's Cato Networks Out To Redefine Networks And Security, Again
[02/2017] Cato Networks' new SD-WAN service combines security and networking - February 6, 2017
Cybereason
Founded in 2012 Boston, United States Endpoint Detection 344 Employees
Cybereason provides real-time cyber attack detection and response tech for the enterprise. Their endpoint detection and response platform identifies, visualizes and finds a solution to the smallest faint evidence of malicious activity without relying on a human cyber-hunter following the steps of the attacker.
Cybereason’s proprietary technology platform (Malops) unites data Collection, data Analytics and
Incident Response Console in order to deliver a complete summary of the breach to the user, which allows the enterprise to respond to threats at a very early stage.
Financial Fundamentals Key Customers Awards
● Raised $188.6M ● Customers include ● Recognized as one of the Top 25 companies in fields Tech Companies to Watch by WSJ ● $4.6M in Series A, $25M in such as finance, and 20 Coolest Endpoint Security Series B, $59M in Series C, healthcare, insurance, Vendors by CRN and $100M in Series D and defense ● Key investors include CRV,
Spark Capital, and SoftBank Zirra Ratings
HR Situation
The company was founded by Lior Div, Yonatan Amit, and Yossi Naar, all of whom have over 15 years of experience in diverse hi-tech management positions. Div is the only founder with previous entrepreneurial experience, having founded AlfaTech in 2007. Both Amir and Naar have been occupying technology development roles for over two decades.
The management team is completed by CMO Mike Volpe, Chief Security Officer Sam Curry, CEO
Japan Shai Horovitz, Global Head of Operations Emmy Linder, CFO Scott Ward, CISO Israel Barak,
GM Israel R&D Center Ziv Oren, CRO Andy Byron, VP and General Counsel Jonathan Shapira, SVP
Customer Success Bhanu Sareddy, VP Brand Cindy Klein Roche, VP Engineering Hemdat Cohen-
Shraga, VP Product Rony Maate, VP Security Services Chris Bush, VP Technical Operations Vered
Gomma, VP Demand Generation Patrick Shea, Global VP Strategic Alliances Rob Peacock, VP
Information Security Shlomi Avivi, and VP Creative Ilan Dray.
According to LinkedIn data, Cybereason has 344 employees, 22 of whom are in executive positions.
Employees are primarily located in the United States (170) and Israel (130).
Available data suggests that the company has grown by 283% over the last two years, between
January 2016 and January 2018, with R&D showing the largest change over the last year at +90%. From their staff, 25% is dedicated to research and development, while 32% is focused on sales and marketing. Additional departments of importance include IT, which accounts for 20%, and business development, which accounts for 14%.
Cybereason is currently hiring for 22 positions in customer success, G&A, marketing, product, R&D, and sales.
There are 53 reviews available about Cybereason on employee review website Glassdoor, with an average rating of 3.9/5. The rating for the CEO, in particular, is 79% approval of them and their job performance. Examples from positive reviews include “Fast paced and hard work to continue building out a unique brand which is extremely rewarding and motivating" and "Great people and great technology"; while other employees have stated "Typical growing pains of a fast growing start-up" and
"We have been hiring mediocrity at a fast pace".
Intellectual Property
Cybereason has filed six patent applications, three of which are still pending, according to the United
States Patent and Trademark office. In addition, the company has one registered trademark and may have more patents pending.
Granted patents include:
● Patent US9413773B2 granted on August 9, 2016, titled "Method and apparatus for classifying and combining computer attack information".
● Patent US9635040B2 granted on April 25, 2017, titled "Method and apparatus for collecting information for identifying computer attack".
● Patent US9679131B2 granted on June 13, 2017, titled "Method and apparatus for computer intrusion detection".
The company’s trademarks protects its name as “Scientific and technological services and research and design relating thereto; industrial analysis and research services; design and development of computer hardware and software.”
Customer Case Studies
The company has not published any customer case studies to date.
Competition Amongst the potential competitors, the two we have identified as the most direct are CrowdStrike and Carbon Black.
● CrowdStrike was founded in 2011, is headquartered in Sunnyvale, California, United States, and has 823 employees according to Linkedin. Their staff is primarily located in the United States (673), and 25% is dedicated to R&D while 39% is dedicated to sales and marketing. The company offers next-generation endpoint protection, delivered as a single integrated cloud-based solution. CrowdStrike’s Falcon platform stops breaches by detecting all attacks types, even malware-free intrusions, providing five-second visibility across all current and past endpoint activity while reducing cost and complexity for customers. To date, the company has raised $281 million from Accel Partners, CapitalG, and Telstra Ventures.
● Carbon Black was founded in 2003, is headquartered in Waltham, Massachusetts, United States, and has 956 employees according to Linkedin. Their staff is primarily located in the United States (837), and 25% is dedicated to R&D while 34% is dedicated to sales and marketing. Carbon Black’s Next-Generation Antivirus (NGAV) solution, Cb Defense, leverages breakthrough prevention technology, “Streaming Prevention,” to instantly see and stop cyber attacks before they execute. Cb Defense combines breakthrough prevention with market- leading detection and response into a single, lightweight agent delivered through the cloud. To date, the company has raised $191.7 million from KPCB, Paramount Pictures, and Sequoia Capital.
Web Traffic
● The company’s website has seen 5.3M visits over the past 12 months, from December 2016
through November 2017.
● The majority of web traffic is coming from the United States, Israel, and the United Kingdom,
which account for 33%, 7%, and 6% of the traffic respectively.
● Referrals account for 30% of the desktop traffic, coming primarily from PC World (12%),
Korben.info (6%), and Lifehacker (5%).
Press
[01/2018] Cybereason Announces DEEP Hunting Tour
[01/2018] Cybereason’s CEO Lior Div Named to Prestigious Group of Boston Business Journal’s ‘Power 50: Newsmakers’
[01/2018] Cybereason and Exabeam Announce Strategic Partnership
[01/2018] Cybereason is Named to the Prestigious 2018 AI 100
Deep Instinct
Founded in 2014 Tel Aviv, Israel Machine Learning 83 Employees
Deep Instinct has developed an AI-based cyber security solution that provides on-device and real- time detection and prevention of zero-day threats and advanced persistent threat attacks for various mobile devices, endpoints, platforms and operating systems.
By leveraging Deep Instinct’s predictive capabilities, the company’s on-device solution protects against zero-day threats and APT attacks with unmatched accuracy on a wide range of platforms and infrastructures, whether or not connected to the network or to the Internet.
Financial Fundamentals Key Customers Awards & Events
● Awarded the Frost & Sullivan ● Raised $32 million ● The company has not award for “Technology disclosed any details ● $32M in Series B Innovation” as well as, IT World about its customer base ● Key investors: Coatue Awards' Gold Award for “Startup Management and Nvidia of the year”
● Recently participated in Black
Hat USA and Cyber Security Chicago
Zirra Ratings
HR Situation
The company was founded by Eli David and Guy Caspi, both of whom have experience in artificial intelligence and deep learning. Eli David has been teaching and researching deep learning and evolutionary computation at Bar Ilan University since 2005; while Guy Caspi, also founded Fifth Dimension and Tamares Telecom.
The management team is completed by SVP NA Sales David Roth, SVP APAC Stuart Fisher, VP Product Management Nadav Maman, VP R&D Arik Solomon, CFO Efrat Turgeman, and Chief HR Officer Roni Berezin.
According to LinkedIn data, Deep Instinct has 83 employees, eight of whom are in Executive Positions. Employees are primarily located in Israel (57) and the United States (21).
Available data suggests that the company has grown by 186% over the last two years, between January 2016 and January 2018, with sales showing the largest change over the past year at +300%.
Of their staff, 29% is dedicated to research and development, while 16% focus on sales and marketing. Additional departments of importance include IT, accounting for 25%, and business development, accounting for 15%.
Deep Instinct is currently hiring for 11 positions, with a strong focus on R&D roles.
There are no employee reviews available about Deep Instinct.
Intellectual Property Deep Instinct has filed one patent application, which is still pending, according to the United States Patent and Trademark office: ● Application US20170169357 A1 published on June 15, 2017, titled “Methods and systems for data traffic analysis”.
Customer Case Studies The company has not published any customer case studies to date.
Competition Amongst the potential competitors, the three we have identified as the most direct are Invincea, Cylance, and Lookout.
● Invincea was founded in 2009, is headquartered in Fairfax, VA, United States, and was acquired by Sophos on February 2017 for $120M. Their product combines deep learning, behavioral analysis, and isolation technology in one lightweight agent that protects endpoints by detecting and blocking known and unknown malware.
● Cylance was founded in 2012, is headquartered in Irvine, CA, United States, and has 788
employees according to LinkedIn. Their staff is primarily spread between the United States
(696) and the United Kingdom (25), and 23% is dedicated to R&D while 30% is dedicated to
sales and marketing. The company applies artificial intelligence, algorithmic science and
machine learning to antivirus programs and other software to prevent viruses and malware.
To date the company has raised $177 million.
● Lookout was founded in 2007, is headquartered in San Francisco, CA, United States, and has
430 employees according to LinkedIn. Their staff is primarily spread between the United
States (296) and the United Kingdom (17), and 19% is dedicated to R&D while 30% is
dedicated to sales and marketing. The company's product offering includes mobile security
apps for iOS and Android devices that use predictive machine intelligence to analyze, make
sense of the data and identify connections that would otherwise go unseen. To date the
company has raised $282.34 million.
Web Traffic
● The company’s website has seen 102k visits over the past 12 months, from January 2017
through December 2017.
● The majority of web traffic is coming from the United States, Israel, and Japan, which account
for 31%, 18%, and 6% of the traffic respectively.
● Referrals account for 9% of the desktop traffic, coming primarily from ZDNet (19%), Forbes
(17%), and Business Wire (8%).
Press
[06/2017] Google, Amazon And Deep Instinct Deploy AI To Fight Malware
[11/2016] How AI will transform cybersecurity
[12/2015] 5 deep learning startups to follow in 2016
[07/2017] Cybersecurity co Deep Instinct raises $32
Illusive Networks
Founded in 2014 Tel Aviv, Israel Deception Technology 72 Employees
Illusive Networks have developed a cybersecurity solution that neutralizes APTs and targeted attacks by creating a deceptive layer across the entire network. Illusive technology enables companies and organizations to visualize attack vectors, deceive threats, and disrupt breaches in real time. It’s solution provides full detection and blocking of Advanced Ransomware Threats (ART) prior to the encryption of any real files.
By building an alternate cyber reality within the existing network, the company is able to identify hackers initially and companies can then choose either to shut down the system, or to stay invisible and gather information about system intruders as they navigate around the network, unaware that much of the data they see is unreliable.
Financial Fundamentals Key Customers Awards & Conferences
● Recognized as one of the 25 ● Raised $30M ● Customers include Coolest Network Security companies in fields ● $5M in Series A and $25M in Vendors by CRN and one of the such as financial Series B top tech companies to watch by services, healthcare, ● Key investors include WSJ manufacturing, and Microsoft Ventures, Bessemer retail ● Scheduled to participate in Venture Partners, and Cisco Cybertech TLV and Gartner's Investments Security & Risk Management Summit
Zirra Ratings
HR Situation
The company was founded by Ofer Israeli, who has over a decade of experience in technology development and cybersecurity. Prior to Illusive Networks, he occupied a number of diverse management positions at Check Point Software Technologies - where he worked for seven years.
The management team is completed by VP of R&D Matan Kubovsky, CFO Arik Levi, CMO Kirby
Wadsworth, VP of Marketing Gily Netzer, VP of Sales EMEA Ivan Foreman, VP of Products Gil
Shulman, and VP of Channel Sales & Strategy Tracy Pallas. All executive employees are highly experienced, with over 10, 15, and 20 years of experience in their fields.
According to LinkedIn data, Illusive Networks has 72 employees, nine of whom are in executive positions. Employees are primarily located in Israel (47) and the United States (23).
Available data suggests that the company has grown by 47% over the last two years, between
January 2016 and January 2018, with Sales showing the largest change over the past year at -20%.
Of their staff, 28% is dedicated to Research & Development, while 29% is focused on Sales &
Marketing. Additional departments of importance include IT, which account for 18%, and Business
Development, which account for 10%.
Illusive Networks is currently hiring for ten positions in London, New York City, Tel Aviv, and the
United States’ West Coast.
There are is only one review available about Illusive Networks on employee review website
Glassdoor, with a rating of 5/5 stars. This review states "Awesome idea of the start-up itself, full of skilled and nice people, working in a great startup environment” and “Not everyone is ready for the idea the company is working on, so it's not easy to sell the product”.
Intellectual Property
Illusive Networks has filed five patent applications, four of which have been approved, according to the United States Patent and Trademark office. In addition, the company has three registered trademarks and may have more patents pending.
Granted patents include:
● Patent US9553885 B2 published on January 24, 2017, titled "System and method for
creation, deployment and management of augmented attacker map".
● Patent US9553886 B2 published on January 2014, titled "Managing dynamic deceptive
environments".
● Patent US9794283 B2 published on October 17, 2017, titled "Predicting and preventing an
attacker's next actions in a breached network".
● Patent US9712547 B2 published on July 18, 2017, titled "Automatically generating network
resource groups and assigning customized decoy policies thereto".
The company’s trademarks protect its name and slogan in two classes: “Scientific and electric apparatus and instruments” and “Scientific and technological services and research and design relating thereto; industrial.”
Customer Case Studies
The company has not published any customer case studies to date.
Competition
Amongst the potential competitors, the three we have identified as the most direct in terms of funding and technology are Cymmetria, Attivo Networks, and TrapX.
● Cymmetria was founded in 2014, is headquartered in Palo Alto, California, United States,
and has 33 employees according to Linkedin. Their staff is primarily located in Israel (20) and
the United States (10), and 27% is dedicated to R&D while no employees seem to be
dedicated to Sales or Marketing according to LinkedIn. Cymmetria’s deception products, MazeRunner and ActiveSOC, give organizations the ability to hunt attackers, detect lateral
movement inside the perimeter, automate incident response, and mitigate attacks. The
company also offers deception as a service, enabling organizations to customize deception
technologies for their business environment. To date, the company has raised $10.6 million
from Y Combinator, Felicis Ventures, and Lumia Capital.
● Attivo Networks was founded in 2011, is headquartered in Fremont, California, United
States, and has 127 employees according to Linkedin. Their staff is primarily located in the
United States (10) and India (46), with 30% dedicated to R&D, while 25% is dedicated to Sales
& Marketing. The company uses deception technology to provide accurate in-network threat
detection, analysis, and accelerated response to advanced, credential, insider, and
ransomware attacks. The Attivo Deception and Response Platform provides continuous
visibility and efficient threat management for user networks, data centers, cloud, branch, IoT,
ICS-SCADA, and POS environments. To date, the company has raised $44 million from Bain
Capital Ventures, Omidyat Technology Ventures, and Trident Capital Cybersecurity.
● TrapX was founded in 2010, is headquartered in San Mateo, California, United States, and
has 41 employees according to Linkedin. Their staff is primarily located in Israel (21) and the
United States (14), with 27% dedicated to R&D while another 27% is dedicated to Sales &
Marketing. TrapX Security provides an automated security grid for adaptive deception and
defense that intercepts real-time threats while providing the actionable intelligence to block
attackers. The TrapX DeceptionGrid™, allows Global 2000 enterprises to detect, capture, and
analyze Zero Day malware in use by the world’s most effective Advanced Persistent Threat (APT)
organizations. To date, the company has raised $19 million from BRM Capital, Intel Capital,
and Liberty Venture Partners.
Web Traffic
● The company’s website has seen 105k visits over the past 12 months, from December 2016
through November 2017.
● The majority of web traffic is coming from the United States, Israel, and Japan, which account
for 36%, 17%, and 16% of the traffic respectively.
● Referrals account for 24% of the desktop traffic, coming primarily from Team8 (25%), Wall
Street Journal (12%), and Salesforce (8%).
Press
[10/2017] Illusive Networks' New Mainframe Deception Addresses Missing Link to
Secure Financial Services Against Sophisticated Cyber Attacks
[07/2017] Momentum Partners Names illusive networks to its 2017 Watch List
[01/2017] Microsoft Ventures funds Illusive Networks
ThetaRay
Specialized Threat Founded in 2013 Hod Hasharon, Israel 57 Employees Analysis and Protection
ThetaRay is a cybersecurity company focused on Specialized Threat Analysis and Protection (STAP), including Advanced Persistent Threats and Zero-Day attacks. The company targets financial institutions, industrial manufacturers, aviation businesses, and critical infrastructure providers internationally, enabling them to manage risk, detect money laundering schemes, uncover fraud, expose bad loans, uncover operational issues and reveal valuable new growth opportunities, by providing them advanced analytical solutions that operate with unprecedented speed, accuracy and scale, with single-digit false positive rates that can reach less than 1%. Besides their international headquarters in Israel and USA headquarters in New York, the company has additional offices in
London and Singapore.
ThetaRay's solution is powered by a hyper-dimensional, multi-domain big data analytics platform, which analyzes all security and operational anomalies across large data sets in order to detect and stop threats before any damage to production, safety, or revenues can occur. Their patented technology is fully automated, requires no supervision and does not rely on signatures, rules, patterns, behaviour or heuristics.
Financial Fundamentals Key Customers Awards & Conferences
● Gartner’s Cool Vendor in Security ● Raised $30.5M ● Customers: ING, OCBC and Service Provider ● $3.5M in Seed, $10M in Series ● Partnerships: PwC, GE ● KPMG Fintech 100, 2017 A, $17M in Corporate Rounds ● GE Most Innovative Industrial ● Key investors: Bank Internet Technology
Hapoalim, JVP, GE ● Also awarded by Frost & Sullivan,
The Europas, TiE50 Awards
Program, Info Security, Red
Herring, European Smart Energy
and Smart Grid Awards and
TMCnet.
Zirra Ratings
HR Situation
The company was founded by Amir Averbuch and Ronald Coifman.
The two developed ThetaRay’s machine learning algorithms over a 9 year period.
Amir Averbuch has been serving as a Professor at Tel Aviv University’s School of Computer
Science since 1987. He has published 230 journal papers, 175 conference papers, and 2 books in applied & computational harmonic analysis, big data processing and analysis, wavelets, signal/image processing and scientific computing.
Ronald Coifman has been the Phillips Professor of Mathematics at Yale University since 1980.
He received the 1999 National Medal of Science. His main research focus is on efficient computation and numerical analysis.
Mark Gazit, CEO, is a senior executive with over 20 years of experience in leading rapid growth global organizations. He has been serving as Chairman of Public Management Board for
Cyber & FinTech at Israel Export Institute. Before ThetaRay, he was working as Managing Director
Cyber and Intelligence Solutions at NICE Systems and Group President & CEO at SkyVision.
According to LinkedIn data, ThetaRay has 57 employees, 8 of whom are in executive positions.
Employees are located in Israel (44), and the USA (13).
Available data suggests that the company has grown by 58% over the last two years, between
January 2016 and January 2018, with Accounting, and Arts and Design departments showing the largest change at +100% each in the last year.
From their staff, 42% is dedicated to research and development, while 20% is focused on sales and marketing.
ThetaRay is currently hiring for 7 positions, including Applied Data Scientists and Directors of
Sales.
There are 6 reviews available about ThetaRay on employee review website Glassdoor, with an average rating of 3.6/5. Examples from a positive review include “amazing team that has a history of scaling companies and is helmed by a seasoned, serial entrepreneur, who knows what he is doing”, while another employee has stated “The company is ran like an aggressive & demeaning dictatorship with false visibility of a growing, developing and successful constructive operation.”
Intellectual Property
ThetaRay owns two granted patents, according to the United States Patent and Trademark office:
● US9147162B2, titled “Method for classification of newly arrived multidimensional data points in
dynamic big data sets”
● US14791269B1, titled “Anomaly detection in dynamically evolving data and systems”
Competition
ThetaRay is operating in a crowded space of Threat Analysis and Protection, and has proven the use of their technology especially in the financial and IoT spaces. Our research has identified
Darktrace, Bromium, and Deep Instinct as some of the company’s most direct competitors.
● Darktrace was founded in 2013, is headquartered in Cambridge, United Kingdom, and has
570 employees according to Linkedin. The company has received $179.5 million in
investments to date. Their product uses machine learning and AI algorithms to detect and
respond to cyber-threats across diverse digital environments, including cloud and virtualized
networks, IoT and industrial control systems. ● Bromium was founded in 2010, is headquartered in Cupertino, California, and has 145
employees according to Linkedin. The company has received $115.8 million in investments
to date. The company developed a platform for next-generation security, based on
virtualization to secure organizations from cyber attacks.
● Deep Instinct was founded in 2014, is headquartered in Tel Aviv, Israel and has 83
employees according to Linkedin. The company has received $32 million in investments to
date. The company developed a platform for next-generation security, based on
virtualization to secure organizations from cyber attacks.
Web Traffic
● The company’s website has seen over 71k visits over the past 12 months, from
December 2016 through November 2017.
● The majority of web traffic is coming from Israel, the USA and the UK which
account for 55%, 20%, and 4% of the traffic, respectively.
● Referrals account for 19% of their traffic, coming primarily from Telecom News
(22%), Times of Israel (20%), and IT News (9%).
Press
[11/2017] OCBC partners AI fintech ThetaRay to detect suspicious fund flows [10/2017] ThetaRay names Benjamin Wyrick as SVP sales, Americas
[10/2014] Israel's ThetaRay turns to maths to detect cyber threats
[07/2014] Cybersecurity firm ThetaRay raises $10M to develop a U.S. presence
Claroty
Founded in 2014 New York City, NY, US OT Networks 69 Employees
Claroty was conceived to secure and optimize OT networks that run critical infrastructures. Claroty empowers the people who run and protect industrial systems to make the most of their OT networks. By discovering granular elements, extracting critical data, and formulating actionable insights, Claroty provides visibility and brings clarity to OT networks.
Claroty was established as part of the Israeli cyber security foundry Team8. The company exited stealth mode in September 2016 with news of its funding round and the announcement that it is launching its protection platform for industrial networks. The Claroty Platform was built from the ground up with an understanding of ICS, SCADA and other essential OT networks as well as deep cyber security knowledge. Claroty is making a security tool that provides extreme visibility into OT networks and protocols, but the company is also creating a platform on which IT and OT teams can work toward shared cyber security and process integrity goals.
Financial Fundamentals Key Customers Awards & Conferences
● The Claroty Platform was ● The company has raised ● Claroty services recognized as the best product in $32M from one funding Fortune 500 the ICS / SCADA Security category round, which concluded in customers across of the 2017 Cybersecurity September 2016. eight verticals with Excellence Awards. implementations ● Claroty’s investors include ● Claroty is a finalist for the elite spanning six Bessemer Venture Partners, Innovation Sandbox Contest at continents Eric Schmidt’s Innovation January 2017 RSA Conference. Endeavors, Marker, ICV, Red Dot Capital Partners, and Mitsui & Co.
Zirra Ratings
HR Situation
The company was founded by CEO Amir Zilberstein, CTO Benny Porat, and Chief Business
Development Officer Galina Antova. Zilberstein is also the co-founder of Waterfall Security
Solutions and Gita Technologies. Before Claroty, Antova held various positions at IBM and was
Global Head of Industrial Security Services at Siemens.
The management team is completed by President and Founder of Team8 Nadav Zafrir, CFO & COO
Yaron Shalom, VP Sales Colin Blou, CMO Patrick McBride, VP R&D Ronen Rosenblatt, and VP
Technical Operations Guilad Regev.
According to LinkedIn data, Claroty has 69 employees, 9 of whom are in executive positions.
Employees are located in Israel (50), the US (15), and Australia (4).
Available data suggests that the company has grown by 162% over the last two years, between
January 2016 and January 2018, with sales showing the largest change at +100%.
From their staff, 40% is dedicated to research and development, while 18% is focused on IT.
Additional departments of importance include BD, which accounts for 15% and sales, which accounts for 10%.
Claroty is currently hiring for 4 positions, including Automation Engineer, Support Engineer,
Frontend Software Engineer, and BE Senior Software Engineer.
There are no reviews available about Claroty on employee review website Glassdoor.
Intellectual Property
There is no available information that suggest whether Claroty currently holds any patents.
However, co-founder and CEO Amir Zilberstein is listed as a primary inventor in over 10 patents.
Customer Case Studies
The company has not published any customer case studies to date.
Competition
Amongst the potential competitors, the two we have identified as the most direct are CyberX and
Indegy.
● CyberX was founded in 2012, is headquartered in Framingham, MA, and has 45 employees
according to LinkedIn, with their staff spread between Israel (28) and the US (12). CyberX
provides the a cybersecurity platform for continuously reducing risk to critical industrial
infrastructures. To date the company has raised $11M from Glilot Capital, Swarth Group,
GlenRock Israel, Flint Capital and angel investors Gigi Levy and Stan Chudnovsky
● Indegy was founded in 2014, is headquartered in New York, NY, and has 43 employees
according to LinkedIn, with their staff spread between Israel (35) and the US (8). Indegy
provides situational awareness and real-time security for industrial control networks to
ensure operational continuity and reliability. The Indegy platform delivers comprehensive
visibility and oversight into all OT activities. To date the company has raised $18M from
Magma Venture Partners, Vertex Ventures, and SBI Holdings.
Web Traffic
● Claroty.com has seen 92,131 visits over the past 12 months, from December 2016 through
November 2017.
● The majority of web traffic is coming from the US (34.85%), Israel (24.59%), Japan (4.75%), the
UK (4.40%), and the Netherlands (2.87%).
● 40.28% of their traffic comes from organic search followed by direct traffic (36.79%) and
referrals (16.65%).
Press
[12/2017] Triton: hackers take out safety systems in 'watershed' attack on energy plant
[02/2017] Ex-FireEye CEO Dave DeWalt Joins Israeli Security Startup
[09/2016] Claroty Raises $32 Million to Thwart Cyber Attacks
[09/2016] Startup Focuses On Real-Time Security Monitoring Of Plant Networks
[09/2016] Team8 unveils critical infrastructure cybersecurity startup Claroty
Flashpoint
Founded in 2010 New York, United States Business Risk Intelligence 136 Employees
Flashpoint delivers Business Risk Intelligence (BRI) to empower business units and functions across organizations with a decision advantage over potential threats and adversaries. The company’s technology and human-powered analysis enable enterprises and public sector organizations globally to bolster cybersecurity, confront fraud, detect insider threats, enhance physical security, assess M&A opportunities, and address vendor risk and supply chain integrity.
The company’s technology provides relevant context to business units not traditionally afforded the benefits of intelligence from the Deep & Dark Web. The technology helps its customers make better decisions that protect their ability to operate. BRI can not only bolster cybersecurity but also confront fraud, detect insider threats, enhance physical security, assess M&A opportunities, and address vendor risk and supply chain integrity.
Financial Fundamentals Key Customers Awards
● Raised $43M ● The company has not ● Scheduled to participate in Black Hat disclosed any Asia, RSA Conference, and FS-ISAC ● $5M in Series A, $10M in Series B, information about its Annual Summit and $28M in Series C customer base ● Key investors include Cisco
Investments, Greycroft, and Bloomberg Beta
Zirra Ratings
HR Situation
The company was founded by Evan Kohlmann, Josh Lefkowitz, and Laith Alkhouri, all of whom have extensive experience in counterterrorism intelligence. Both Kohlmann and Alkhouri are concurrently working as counterterrorism analysts at NBC News.
The management team is completed by CMO Jennifer Leggio, Chief Strategy Officer Chris
Camacho, Chief People Officer Lisa Iadanza, Chief Scientist Lance James, VP Engineering Ben
Donohue, VP Intelligence Tom Hofmann, VP Global Sales And Solution Architecture Brian Costello,
VP Business Development Brian Brown, VP Customer Success Jake Wells, VP Finance Rob Reznick, and VP Product Andrew Dilling.
According to LinkedIn data, Flashpoint has 136 employees, 14 of whom are in executive positions.
Employees are primarily located in the United States (129).
Available data suggests that the company has grown by 200% over the last two years, between
January 2016 and January 2018, with sales showing the largest change over the last year at +200%.
From their staff, 29% is dedicated to research and development, while 26% is focused on sales and marketing. Additional departments of importance include business development, which accounts for 24%, and military and protective services, which accounts for 14%.
Flashpoint is currently hiring for 20 positions in sales, customer success, intelligence, R&D, advisory services, and product. There are 4 reviews available about Flashpoint on employee review website Glassdoor, with an average rating of 4.3/5. Examples from positive reviews include “The company is growing very fast and with that comes lots of opportunity for growth both horizontally and vertically"; while other employees have stated "Internal politics inhibits development of some programs or products."
Intellectual Property
Flashpoint has not filed any patent or trademark applications, according to the United States Patent and Trademark office.
Customer Case Studies
The company has published the following case studies:
● Cybersecurity & Emergent Malware
● Physical Security & Executive Protection
● Third-party Vendor Risk/incident Response
● Fraud
● Insider Threat
Competition
Amongst the potential competitors, the two we have identified as the most direct are Terbium Labs and DarkOwl.
● Terbium Labs was founded in 2013, is headquartered in Baltimore, Maryland, United States,
and has 25 employees according to Linkedin. Their staff is located in the United States, and
40% is dedicated to R&D while 16% is dedicated to sales. Terbium Labs offers Matchlight, a
product that alerts their clients the instant their stolen data appears on the web. The
company also offers other products focused on digital intellectual property. To date, the
company has raised $16.1 million from .406 Ventures and Glasswing Ventures.
● DarkOwl was founded in 2015, is headquartered in Denver, Colorado, United States, and
has 22 employees according to Linkedin. Their staff is primarily located in the United States
(21), and 27% is dedicated to R&D while another 27% is dedicated to sales and marketing. DarkOwl provides darknet content, tools, and services to empower clients to improve their
cybersecurity defenses. The company offers a DarkOwl Vision platform that allows users to
access the database of DARKINT to monitor for the presence of their data on the darknet
and shorten the time frame to its detection. To date, the company has raised $3.9 million
from undisclosed investors.
Web Traffic
● The company’s website has seen 1.6 million visits over the past 12 months, from December
2016 through November 2017.
● The majority of web traffic is coming from the United States, the United Kingdom, and Canada,
which account for 55%, 7%, and 3% of the traffic, respectively.
● Referrals account for 18% of desktop traffic, coming primarily from V2EX (7%), Liquidmatrix
(7%), and Krebs on Security (7%).
Press
[07/2016] Flashpoint Expands into Business Risk Intelligence (BRI), Raises $10M in Funding
[07/2017] Flashpoint Announces $28 Million Series C Led by Georgian Partners
[09/2017] Flashpoint Digs Into Dark Web With Security Intelligence API
[09/2017] Flashpoint Global Channel Program Empowers Partners to Accelerate Revenue with
Business Risk Intelligence HYPR Corp
Decentralized Founded in 2014 New York, United States 34 Employees Authentication
HYPR decentralized authentication ensures that personal credentials such as biometrics, PINs and passwords always remain safe on users’ devices. By eliminating the need for a centralized credential store, the risk of an enterprise breach is greatly reduced. The company works to secure enterprises’ consumers, employees and IOT devices using a combination of passwords, PINs and biometrics such as fingerprint, face, hand, retina, iris, voice and behavior.
Financial Fundamentals Key Customers Awards & Conferences
● Mastercard Start Path class ● Total funding: $13.8M ● Diebold Nixdorf
● Last funding: Oct 3, ‘17 ● Mastercard ● Cited by ZDNet as one of the 2015
($10M) International Consumer Electronics Show’s ● Samsung top 10 innovations
● Vhi Healthcare ● Named a "Cool Vendor" in Gartner's "Cool
Vendors in Transforming Multichannel to
Unified Retail Commerce, 2017"
Zirra Ratings
HR Situation
The company was founded by current CEO George Avetisov and current SVP James V. Barcia.
The management team is completed by CFO/COO Roman Kadinsky and CTO Bojan Simic.
According to LinkedIn data, HYPR Corp. has 34 employees, 7 of whom are in executive positions.
Employees are mostly located in the USA (32), specifically New York and New Jersey. There is also an employee in Thailand. Available data suggests that the company has grown by 107% over the last two years, between January 2016 and January 2018, with the Sales Department showing the largest change at +400%. From their staff, 39% is dedicated to Research & Development, while 16% is focused on Sales & Marketing. Additional departments of importance include Business
Development, which accounts for 19%, and IT, which accounts for 10%.
HYPR Corp. is currently hiring for 10 positions, including Senior Full Stack Engineer, Senior Sales
Engineer, Senior Mobile Engineer, IAM Integration Engineer, Senior Crypto Engineer, Android
Engineer, Senior Backend Engineer, Mobile QA Engineer, Windows Engineer (contractor), and VP of
Product.
There are 6 reviews available about HYPR Corp. on employee review website Glassdoor, with an average rating of 5/5. Examples from a positive review include “Fast moving, very innovative and open minded company with incredible team of super talented people!”, whilst another employee has stated “Our work ethic and spirit is not for everyone.” Intellectual Property
HYPR Corp. has 3 patents approved according to the United States Patent and Trademark office, with George Avetisov, Roman Kadinsky and Bojan Simic listed as the primary inventors. In addition, the company has 3 registered trademarks and 1 trademark pending.
HYPR Corp.’s patents are listed below.
● Patent #D0795255 published on August 11, 2016, titled "Biometric payment gateway device"
● Patent #D0771043 published on December 5, 2015, titled "Biometric payment gateway
device"
● Patent #09648015 published on November 11, 2014, titled "Systems and methods for
facilitating secure authentication using a biometric-enabled transitory password
authentication device"
Trademarks are in the class of “scientific and electric apparatus and instruments” and include
“TRUST EVERYONE.” “HYPR-1,” “HYPR-3” and “HYPRKEY.” Competition
Amongst the potential competitors, the three we have identified as the most direct are NoPassword, Rivetz, Inc. and VU.
● NoPassword, formerly WiActs, was founded in 2014, is headquartered in Sunnyvale, California, and has 9 employees according to LinkedIn, with their staff spread between the USA (7), Russia (1), and the Slovak Republic (1). The company offers a password-free single sign-on solution designed around biometric and frictionless multi-factor authentication. To date the company has raised an undisclosed amount of money in two funding rounds from Plug and Play, GVA Capital GVA Vestor.in and Gert Gremes.
● Rivetz, Inc. was founded in 2014, is headquartered in New York, New York, and has 22 employees according to LinkedIn, with their staff spread mostly between the USA (18) and Italy (1). The company offers a decentralized, hardware-based and blockchain-powered solution. To date the company has raised $18 million.
● VU was founded in 2007, is headquartered in Buenos Aires, Argentina, and has 44 employees according to LinkedIn, with their staff spread mostly between Argentina (20), Ecuador (3), Lithuania (3), Chile (2), the Dominican Republic (2), the Netherlands (2), Australia (1), and Guatemala (1). The company provides double-factor authentication solutions using hardware in mobile phones. To date the company has raised $1.035 million from NXTP Labs and Gaston Bercum.
Web Traffic
● hypr.com has seen 111 thousand visits over the past 12 months, from January 2017 through
December 2017.
● The majority of web traffic is coming from the USA (41%), India (5%) and the UK (5%).
Press
[12/2017] Mastercard Puts Investment In HYPR Corp. Biometrics Operations
[3/2017] Biometric Authentication Provides Body of Evidence
[12/2017] ‘Key To The Kingdom’: A Look At Decentralized Authentication
[3/2017] Interview: HYPR Corp on the intersection between biometrics and blockchain
[2/2017] 21 Companies Leveraging Blockchain for Identity Management and Authentication
Security Scorecard
Founded in 2013 New York, New York Cyber Insurance 120 Employees
SecurityScorecard helps organizations monitor key security risks around their cloud-based systems by identifying vulnerabilities from a hacker’s perspective. The platform also looks at third-party vendors a company is doing business with to find any weaknesses on their side. SecurityScorecard then assigns ratings from “A” to “F” to help security personnel address the most pressing vulnerabilities and evaluate partnerships. SecurityScorecard currently tracks and grades 100,000 companies from various industries.
The company’s patented SaaS platform is claimed to be the only automated method to monitor all key risk factors on a continuous, real-time basis. The platform enables users to always know the security levels of every organization they work or share data with and be able to take action, quickly and easily.
Financial Fundamentals Key Customers Awards & Conferences
● Raised $62.2M ● Customers: Netflix, Intuit, ● Winner of Computer Technology
FarmCredit, McDonalds, Pepsi, ● $2.2M in Seed, $12.5M in Review 2016's Most Valuable Symantec Series A, $20M in Series B, Product Award, Info Security $27.5M in Series C Rounds ● Partnerships: Optiv, Guidepoint, Global Excellence Award Gotham, Venminder ● Key investors: Sequoia,
Google Ventures, Moody's, ● Attending CES, HIMMS and RSA
NGP Conferences in 2018
Zirra Ratings
HR Situation
The company was founded by Aleksandr Yampolskiy and Sam Kassoumeh.
Aleksandr Yampolskiy, co-founder and CEO, is a published author and speaks regularly on security and software development processes. He was CTO at Cinchcast and BlogTalkRadio, and led security and compliance at Gilt Groupe prior to SecurityScorecard. Yampolskiy has a B.A. in mathematics and computer science from New York University and a Ph.D. in Cryptography from
Yale University.
Sam Kassoumeh, co-founder and COO, has over 10 years of experience in cybersecurity.
Before SecurityScorecard, he was Head of Security and Compliance at Gilt Groupe and worldwide
InfoSec lead at Federal-Mogul. Kassoumeh holds a BBA in Management Information Systems from the University of Michigan-Dearborn.
Alexander Heid, Chief Research Officer, is also co-founder and CEO of HackMiami, and owner of Information Security Services, Inc. Previously, he served as Chapter Chair for South Florida
OWASP, and was a Senior Researcher at Prolexic Technologies. Heid earned his degree in Political
Science & Religious Studies from Florida International University.
Jasson Casey, CTO & SVP Engineering , has an 18 years of experience in the telecom and computer networking industries. He is also the Founder and Executive Director of
Flowgrammable, and Advisory Board Member at IronNet Cybersecurity, where he served as VP
Engineering before joining SecurityScorecard. Casey holds a BSEE from the University of Texas at
Austin and is a Phd. candidate in electrical engineering at Texas A&M University. Bill Siegel, CFO, has over 15 years experience in Managerial Positions. Before SecurityScorecard he served as CEO of SecondMarket and, after its acquisition by NASDAQ in 2015, as Head of
NASDAQ Private Market. Siegel has a BBA from the University of Michigan and earned his CFA.
According to LinkedIn data, SecurityScorecard has 120 employees, 10 of whom are in Executive
Positions. Employees are located in the USA (107), Argentina (5), and Canada (5).
Available data suggests that the company has grown by 79% over the last two years, between
January 2016 and January 2018, with Accounting Department showing the largest change at +200% in the last year.
Of their staff, 38% is dedicated to research and development, while 35% is focused on sales and marketing.
SecurityScorecard is currently hiring for 12 positions, including Senior Developers, Customer
Success Manager and Cyber Researcher.
There are 30 reviews available about ThetaRay on employee review website Glassdoor, with an average rating of 3.8/5.** Examples from a positive review include “Great people to work with.
Management is very open to suggestions”, while another employee has stated “Office space not conducive to productivity, Disorganized management structure and style, High employee churn”
Intellectual Property
SecurityScorecard owns 16 patents, 9 of which are granted and 7 are pending:
● US14702661B2, titled “Calculating and benchmarking an entity's cybersecurity risk score”
● US14562716B2, titled ”Dynamic selection of network traffic for file extraction shellcode detection”
● US14262750B2, titled ”Revival and redirection of blocked connections for intention inspection in
computer networks”
● US14702667B2 titled “Entity IP Mapping”
● US14702664B1 titled ”Online Portal For Improving Cybersecurity Risk Scores”
● US12942959B1 titled “Method And System For Dynamically Representing Distributed Information”
● US15046318A1 titled “Non-intrusive Techniques For Discovering And Using Organizational
Relationships” ● US14702666A1 titled “Cybersecurity Risk Assessment On An Industry Basis”
Competition
Security Scorecard is operating in the space of Cyber Insurance, and has customers in financial, insurance, technology, healthcare and retail industries. Our research has identified Bitsight
Technologies, Bay Dynamics and SafeBreach as some of the company’s most direct competitors.
● Bitsight Technologies was founded in 2011, is headquartered in Cambridge,
Massachusetts, and has 236 employees according to Linkedin. The company has received
$92.3M investment to date. Their platform rates companies’ security effectiveness on a daily
basis using a data-driven, outside-in approach.
● Bay Dynamics was founded in 2001, is headquartered in San Francisco, California, and has
99 employees according to Linkedin. The company has received $31M investment to date.
The company provides cybersecurity solutions to protect organizations from evolving
security threats and to reduce their business risk using machine learning and predictive
analytics.
● SafeBreach was founded in 2014, is headquartered in Sunnyvale, California, and has 58
employees according to Linkedin. Their platform executes active breach scenarios and
performs continuous validation to find holes in an environment before an attacker does.
Web Traffic
● The company’s website has seen over 274k visits over the past 12 months, from January
2017 through December 2017.
● The majority of web traffic is coming from the USA, the UK and India which account for
72%, 4%, and 3% of the traffic respectively.
● Referrals account for 11% of their traffic, coming primarily from Greenhouse (13%),
Business Insider (12%), and PR Newswire (12%).
Press
[10/2017] Cybersecurity risk-monitoring platform SecurityScorecard raises $27.5 million from
Nokia, GV, Intel, Sequoia, others
[06/2017] VC-backed SecurityScorecard hires two VPs
[06/2016] How SecurityScorecard Is Like The Google Of Cybersecurity
Disclaimer:
This material has been prepared by Zirra.co Ltd. This document is for information and illustrative purposes only and does not purport to show actual results. It is not, and should not, be regarded as investment advice or as a recommendation regarding any particular security or course of action. Opinions expressed herein are current opinions as of the date appearing in this material only and are subject to change without notice. Reasonable people may disagree about the opinions expressed herein. In the event any of the assumptions used herein do not prove to be true, results are likely to vary substantially. All investments entail risks. There is no guarantee that investment strategies will achieve the desired results under all market conditions and each investor should evaluate its ability to invest for the long term especially during periods of a market downturn. No representation is being made that any account, product, or strategy will, or is likely to, achieve profits, losses, or results similar to those discussed, if any. This information is provided with the understanding that with respect to the material provided herein, that you will make your own independent decision with respect to any course of action in connection herewith and as to whether such course of action is appropriate or proper based on your own judgment, and that you are capable of understanding and assessing the merits of a course of action. Zirra.co Ltd. does not purport to and does not, in any fashion, provide broker/dealer, consulting or any related services. You may not rely on the statements contained herein. Zirra.co Ltd.. shall not have any liability for any damages of any kind whatsoever relating to this material. You should consult your advisors with respect to these areas. By accepting this material, you acknowledge, understand and accept the foregoing.