|By Xenia von Wedel||
|February 21, 2014 01:50 PM EST||
Hi Yuval, Thank you for taking the time to answer my questions. First of all, please tell us, what is AlgoSec all about and what do you do?
Yuval Baron: AlgoSec enables organizations to manage security at the speed of business. Enterprise networks and data centers are highly complex, oftentimes consisting of vast numbers of networking and security devices, which use thousands of security policies and hundreds of critical business applications. All of these must be managed across multiple vendors, stakeholders and locations. This rising complexity, plus evolving cyber threats and increasing business demands makes it hard to keep up if you're manually managing the security policy. Additionally, traditional security management efforts are siloed across different IT organizations such as network operations, security operations, and application teams. All of this comes at the cost of a major loss of productivity.
AlgoSec's automated and application-centric approach orchestrates the management of complex policies across all of these networking and security devices and aligns the different teams to achieve the best of both worlds - improving security and enabling a faster response to dynamic business needs.
I'm happy to share that today, more than 1000 of the world's leading organizations, including 15 of the Fortune 50, rely on AlgoSec for faster security provisioning of business applications, simplified operations and improved protection against cyber-attacks. AlgoSec customers typically report significant and quantifiable improvements in operational efficiency - up to 80% reduction of time spent on audits and 60% less time spent processing firewall changes - while also reducing the attack surface and ensuring networking and security devices are configured properly.
What are you going to launch at RSA?
Baron: At RSA we will be announcing the latest version of the AlgoSec Security Management Suite, which now enables organizations to view and remediate IT risk with the business in mind. The AlgoSec Suite integrates with vulnerability scanners from Qualys and Nessus to display vulnerabilities associated with data center applications and their associated physical or virtual servers. With this integration, the AlgoSec Suite delivers unprecedented visibility into the risk levels of data center applications - even as they change - enabling IT and security teams to more effectively communicate with business stakeholders so they can "own their risk". AlgoSec will have a booth (#427) at RSA where you can see also see a live demo of the new capabilities.
The biggest challenge is that this is a new way of managing IT risk, but we have data from a survey we conducted last fall, plus research from Gartner, that shows the demand is there for this concept of viewing and prioritizing risk from the perspective of a business application.
Who is your target audience and how do you intend to reach them? What is the biggest challenge you face right now in telling your story and winning over new clients?
Baron: An enterprise solution sale spans multiple stakeholders in networking, security, application development, architecture groups, and involves from the administrators all the way up to CSO or CIO sometimes. So while we have a good story and can bring tremendous, quantifiable value, the pain points for each of these groups is a bit different - we have evolved from a "tool" to a solution that ties into your business processes.
I'd be curious to hear any general thoughts you have on market trends...
Baron: There are 4 market trends that we see impacting our space:
- Next-generation firewalls are becoming more mainstream - they're no longer "next-gen" per se. Adoption rates are on the rise, every firewall vendor is now touting next-generation firewall capabilities and organizations are becoming more mature in terms of their expertise with managing these devices. That's not to say that the traditional firewall is dead, but the firewall as we know it is evolving as it has since its inception. From a security management perspective this means finding ways to take advantage of the granular control without adding overhead from additional changes and managing next-gen policies alongside traditional ones.
- We're seeing more interest in our solution as part of data center consolidation and cloud migration projects. The "cloud" is disruptive to networks and data centers because of the significant financial and operational value that can be derived, but getting there takes a real commitment that involves many aspects, one of which plays right into a strength of ours - managing application connectivity.
- We are seeing a shift in how security is viewed, from where security owns the risk to where security consults the business, but ultimately the business owns the risk.
- Software-defined networking is definitely on the radar of senior management. Within the next several years we'll start seeing deployments in enterprise production environments.
What's the business model? How will you make money?
Baron: AlgoSec's primary source of revenue is through software licenses of its product suite delivered on a physical or virtual appliance or as stand-alone software to Enterprise customers, Managed Service Providers and consultants. Additionally, AlgoSec also provides professional services, primarily around integrating and aligning its solutions with the customer's existing environment.
Who are your competitors?
Baron: Depending on the geographies and the required business solution we may compete with companies such as Skybox, Tufin, and FireMon.
How do you differentiate from your competitors?
Baron: AlgoSec has four primary advantages:
- Our profound, application-centric technology specifically focuses on business agility and delivering application-centric visibility. The solution ensures that application owners, network operations and security teams are aligned and it enables risk to be viewed and prioritized by business application.
- AlgoSec automates more business processes than any other solution, resulting in greater productivity and a quantifiable ROI.
- AlgoSec provides more breadth and depth of policy analysis. AlgoSec's patented Deep Policy InspectionTM technology taps on more data sources and conducts more rigorous analysis to present to the most accurate and comprehensive results for risk analysis, policy optimization and performance improvements.
- Lastly, AlgoSec is dedicated to customer satisfaction. I liken AlgoSec as "the Zappos of enterprise software." We back everything up as the only company in its domain to offer money-back guarantee. Within 9 years only two AlgoSec customers out of more than 6,000 transactions have ever returned the solution, resulting in a 99.97 percent satisfaction rate.
How does your technology differentiate from the competition and can you elaborate on the different technology deployed?
- AlgoSec delivers a business-centric approach to security policy management that focuses on maximizing the availability of critical business applications as well as operational agility.
- With our latest release, we now provide visibility of risk per business application, enabling business owners to make smarter risk remediation decisions and ultimately "own the risk".
- AlgoSec comes out-of-the-box with robust and highly flexible change workflows that can be tailored to meet the real-life needs of our customers.
- AlgoSec provides rich, accurate and actionable security policy analysis for simplifying compliance, reducing risk and optimizing the rulebase.
- The AlgoSec Suite consists of three products, but they are truly integrated. One example I can give is looking at a business application, adding a new server to a "flow" and automatically triggering the change request with full risk and compliance check to ensure that the change won't introduce more risk.
- AlgoSec is proven to scale in the most demanding environments. This may not seem different considering many vendors say this, but the fact is many cannot prove it when put into an enterprise environment. I'm happy to share that AlgoSec is built to scale.
What business or technology could yours disrupt?
Baron: AlgoSec's technology doesn't replace an existing solution because there really is no other solution. The disruption is shifting organizations from a manual security policy management approach that is fraught with risk, non-compliance and inefficiency to an automated and application-centric approach that aligns different stakeholders and is ultimately baked into business processes. At the simplest level, this technology enables organizations to achieve significant time and cost savings, while ensuring a more secure and agile business.
Who founded the company, when? What can you tell me about the story of the company's founding?
Baron: I founded the company along with our co-founder and CTO Avishai Wool back in 2003 and we are self-funded.
What is your distribution model? Where to buy your product?
Baron: We sell primarily through the channel and have resellers and distributors throughout the world.
What's next on your product roadmap?
Baron: We will continue to build upon our mission of enabling security to be managed at the speed of business. This means expanding upon our business application-centric approach, continuing to integrate with and support other network and security devices and continuing to focus on automating more security management processes.
Are you targeting a first VC round? If yes when and what will you use the funds for? How much money is being sought?
Baron: AlgoSec has never needed to raise money from external investors as the company generates a positive cash flow. With our cash flow increasing over the years and our ability to sustain our own growth we are not currently looking into raising funds.
What else would you like to add?
Baron: I would like my team to wake up in the morning with a smile on their faces. We hire very bright people who are also team players all focused on the goal of serving our customers and ensuring we are doing everything within our realm to make them happy. AlgoSec's financial success is a result of implementing such an approach.
Other information if applicable:
Partnerships, collaborations or affiliations: We have technology partnerships with Baron: Check Point, Cisco, Fortinet, Juniper, McAfee, Palo Alto Networks, Blue Coat, HP, VMware, and we just announced our partnership with Qualys
Federal or state grants, contracts or awards received:
Market size being pursued: We focus on the enterprise market
Who are the likely competitors, direct or indirect?
Is the company profitable? Yes, we've been profitable since 2007
Current annual revenue: We do not disclose our revenue numbers though I can share that we have a 3 year CAGR of 55%
AlgoSec is the market leader for security policy management, enabling organizations to simplify and automate security operations in evolving data centers and networks. More than 1000 of the world's leading organizations, including 15 of the Fortune 50, rely on AlgoSec for faster security provisioning of business applications, streamlined change management, continuous compliance and tighter security.
AlgoSec's application-centric approach orchestrates the management of complex policies across firewalls and related network devices, aligning IT teams for improved business agility.
Niagara Networks exhibited at the 19th International Cloud Expo, which took place at the Santa Clara Convention Center in Santa Clara, CA, in November 2016. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
Mar. 23, 2017 03:00 AM EDT Reads: 2,864
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
Mar. 23, 2017 03:00 AM EDT Reads: 5,287
SYS-CON Events announced today that HTBase will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. HTBase (Gartner 2016 Cool Vendor) delivers a Composable IT infrastructure solution architected for agility and increased efficiency. It turns compute, storage, and fabric into fluid pools of resources that are easily composed and re-composed to meet each application’s needs. With HTBase, companies can quickly prov...
Mar. 23, 2017 02:15 AM EDT Reads: 2,236
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
Mar. 23, 2017 02:15 AM EDT Reads: 11,079
SYS-CON Events announced today that Outlyer, a monitoring service for DevOps and operations teams, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Outlyer is a monitoring service for DevOps and Operations teams running Cloud, SaaS, Microservices and IoT deployments. Designed for today's dynamic environments that need beyond cloud-scale monitoring, we make monitoring effortless so you ...
Mar. 23, 2017 02:00 AM EDT Reads: 3,638
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex softw...
Mar. 23, 2017 01:15 AM EDT Reads: 3,280
What if you could build a web application that could support true web-scale traffic without having to ever provision or manage a single server? Sounds magical, and it is! In his session at 20th Cloud Expo, Chris Munns, Senior Developer Advocate for Serverless Applications at Amazon Web Services, will show how to build a serverless website that scales automatically using services like AWS Lambda, Amazon API Gateway, and Amazon S3. We will review several frameworks that can help you build serverle...
Mar. 23, 2017 12:00 AM EDT Reads: 1,147
In his General Session at 17th Cloud Expo, Bruce Swann, Senior Product Marketing Manager for Adobe Campaign, explored the key ingredients of cross-channel marketing in a digital world. Learn how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects).
Mar. 22, 2017 11:00 PM EDT Reads: 2,924
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.
Mar. 22, 2017 10:15 PM EDT Reads: 3,222
SYS-CON Events announced today that Hitrons Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Hitrons Solutions Inc. is distributor in the North American market for unique products and services of small and medium-size businesses, including cloud services and solutions, SEO marketing platforms, and mobile applications.
Mar. 22, 2017 10:15 PM EDT Reads: 3,242
With the introduction of IoT and Smart Living in every aspect of our lives, one question has become relevant: What are the security implications? To answer this, first we have to look and explore the security models of the technologies that IoT is founded upon. In his session at @ThingsExpo, Nevi Kaja, a Research Engineer at Ford Motor Company, will discuss some of the security challenges of the IoT infrastructure and relate how these aspects impact Smart Living. The material will be delivered i...
Mar. 22, 2017 10:15 PM EDT Reads: 1,699
Historically, some banking activities such as trading have been relying heavily on analytics and cutting edge algorithmic tools. The coming of age of powerful data analytics solutions combined with the development of intelligent algorithms have created new opportunities for financial institutions. In his session at 20th Cloud Expo, Sebastien Meunier, Head of Digital for North America at Chappuis Halder & Co., will discuss how these tools can be leveraged to develop a lasting competitive advanta...
Mar. 22, 2017 09:30 PM EDT Reads: 2,299
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, will provide a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services ...
Mar. 22, 2017 06:15 PM EDT Reads: 3,930
VeriStor Systems has announced that CRN has named VeriStor to its 2017 Managed Service Provider (MSP) 500 list in the Elite 150 category. This annual list recognizes North American solution providers with cutting-edge approaches to delivering managed services. Their offerings help companies navigate the complex and ever-changing landscape of IT, improve operational efficiencies, and maximize their return on IT investments. In today’s fast-paced business environments, MSPs play an important role...
Mar. 22, 2017 05:45 PM EDT Reads: 1,798
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
Mar. 22, 2017 04:30 PM EDT Reads: 823