Cyble mission: Our mission is to create a safer supply chain ecosystem by proactively managing supplier cyber threats and risks.
Company description: Our purpose is to provide visibility to supply chain cyber threat and risks through automation, integration and intelligence.
Problem Statement: Recent research suggests on an average a large organisation has over 4700 vendors. Often the suppliers connect with their customers through systems, data via electronic means, connect their systems with their customer network for their business activities. However, in 2018, 59% of Companies Experienced a supplier-caused or related Data Breach, Yet Only 16% Say They Effectively Mitigate Supplier cyber risks. Organisations that experience data breaches, even if external companies caused those data breaches, suffer significant reputational, financial, and regulatory consequences. Regulations like the California Transparency in Supply Chains Act and GDPR hold businesses responsible for the actions of providers in their digital supply chains. This has caused an increased awareness, rather a stronger will, within the boards and regulators who are pushing organisations to do a better job in managing the risks posed by it.
Sadly, the overall maturity of supplier cyber risk management programs is virtually unchanged in the face of an increasingly challenging external risk and regulatory environment. Public researches show that enterprises of all types are still way behind on instituting the governance and technology to wrap their arms around supplier cyber risks, be they in the software supply chain, access governance, or data handling. The current practices are manual, non-integrated and point-in-time view – however, we know the technology penetration is increasing at a rapid pace, and threat actors TTPs are also evolving. Some experts say the industry isn't moving the needle on managing supplier cyber risks. With hundreds or thousands of vendors, many organisations find themselves unable to keep pace with vendor assessments. In our opinion, the current practice is unsustainable and provides a skewed, if not completely accurate, about the supplier cyber risks.
Our approach: Cyble’s Supplier Cyber Threat and Risk Monitoring platform provides visibility to supplier threats and risks across the value chain through automation, integration and intelligence powered by. The platform automates Suppliers cyber risk assessment and provide dynamicity to your assessment through integration of external data such as threat intelligence, vulnerabilities, exploits, relevant news, social media and financial signals. Our dedicated research team at continually track threat actors focused on supply chain and provide contextual reporting on their activities and TTPs movement. We believe integration is one of the key means for simplification of operations; our platform integrates with existing risk management tools ensure minimal impact to your current risk management processes and tools.
Our team: Two Australian software engineers, with a combined experience of over 30 years (ex- PwC, ex-Google, ex-BHP, ex-Telstra, ex-ANZ Bank) in Cybersecurity and MBAs from London Business School and Columbia Business School decided to solve this problem and launched Cyble. Within two months of the launch of the company, they released the first beta at RISE Hong Kong conference - Asia’s largest tech conference. The team is currently working with pilot/beta customers.
Market Traction: The founders were funded from the idea inception, and currently closing the second round of investments from institutional investors.
How far along are we? We have launched the beta version of the product, which has a cyber risk automation engine, and currently, we are in the process of integrating threat intelligence and internal insights engine to it. The individual components have been built and currently in the alpha test mode.
We are close to signing up our first enterprise customer in Australia - verbal acceptance has been received.
What do we understand about the business that others don't:
Alibaba Entrepreneurs Fund shortlisted Cyble for a pitchAugust, 2019
Signed Up our First Enterprise CustomerAugust, 2019
Onboarded New Investors - Singtel Innova8 and NUS EnterpriseAugust, 2019
Admission to Cybersecurity Accelerator (Cylon).August, 2019
Featured Start-up at RISE conference.July, 2019
Product beta released for private beta enterprise customers.July, 2019