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Cyble

Cyble

Our purpose is to provide visibility to supply chain cyber threat and risks through automation, integration and intelligence.

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Company Overview

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:

  • Other companies such as ArcSight which customers use for cyber workflow management is an expensive investment and requires alot of customisation to make it work. Even if deployed correctly, the integration with security scoring and intelligence is rarely being performed - hence the output is static, manual and non-scalable.
  • With security scoring company - Companies such as Bitsight provide a standard scoring capability for companies which in my opinion is a deterrent for vendors to come on board. Our value proposition is that we offer weight capabilities to the signals we monitor for to our customers, and let the customers decide the weight based on their risk appetite. In this model, we become vendors friendly as we don't rate them as such, and we become a compliment for them. The more information a vendor is able to share with us, subject to our internal review, the buyers or organisations can make the rating decision based on their weights or risk appetite.
  • With respect to external threat intelligence - Unlike other organisation, we want to focus on cyber threats and actors who are known or would be interested in targeting supply chain or MSSPs. With the amount of data, alerts and reports produced by large organisations such as Symantec, industries are finding it an overwhelming task to prioritising their efforts and resources.
  • With respect to internal intelligence - Our agents are able to gather security events and logs from endpoints from *NIX and Windows-based endpoints and servers. These event logs track intrusion attempts, file-integrity monitoring, c&c communications etc. Our agents have some overlap with existing EDR solution, however, the use-cases we're targeting are different.

KPIs

1 Users
7 Employees

Pitch Deck

Traction

  • Alibaba Entrepreneurs Fund shortlisted Cyble for a pitch

    August, 2019
  • Signed Up our First Enterprise Customer

    August, 2019
  • Onboarded New Investors - Singtel Innova8 and NUS Enterprise

    August, 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

Testimonials

Risk Manager
Risk Manager
Investment Bank
"Your UI is clean and simple. We decommissioned a previous product because of its chunkiness"
Large Financial Institution
Large Financial Institution
Accelerator Team
"Would you be interested in selling this (Cyble Financial Health Calculator) as a separate component to us? Also, would you like to join our accelerator program in Singapore?"
Dinesh Arora
Dinesh Arora
Security Risk Specialist
"Your idea is disruptive, haven't seen any other products in the market which are even close to you!"
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