Convenor: National Venture Capital Association
Moderator: Ray Rothrock, CEO of RedSeal
Panelists:

• Bob Ackerman, Founder and Managing Director of Allegis Capital
• Oren Falkowitz, Co-Founder and CEO of Area 1 Security
• Ted Schlein, General Partner at Kleiner Perkins Caulfield Byers
• Derek Smith, Co-Founder and CEO of Shape Security

WHAT:
The venture capital ecosystem has invested more than $10 billion in cybersecurity companies since 2012. As the frequency and severity of cybersecurity attacks increase unabated, venture investment into cybersecurity startups will grow, placing venture capitalists and the entrepreneurs they support on the frontlines of our country’s cyber defense capabilities.

During the session, attendees will learn:

• What innovation is taking place in the field of cybersecurity by venture-backed startups
• How VCs play an important role, supporting young companies as they grow into leaders of the cybersecurity industry

WHERE:
Capitol Visitor Center – SVC-212-10
First St. NE
Washington, DC 20515

WHEN:
Thursday, October 22, 11 a.m. ET

About RedSeal (redseal.co)

SUNNYVALE, Calif.— October 6, 2015—RedSeal (redseal.co), the cybersecurity analytics company, today announced record-breaking financial results for the quarter ended Sept. 30. Bookings reached $13.6 million, the highest recorded in a quarter in the company’s history and more than double the year over year quarter. Leveraging new product innovations, RedSeal not only signed 16 new customers in the quarter but also expanded its presence in a number of important large enterprises.

“When we closed our Series C round of financing earlier this year, we made a calculated set of investments that is clearly beginning to pay off,” said RedSeal Chairman and CEO Ray Rothrock. “This included investing heavily in our engineering initiatives, which drives the innovation that separates us from competitors. We also positioned RedSeal to be a leader in cyber resilience. Further, we increased our professional services function to speed the time-to-value for customers.”

“Aside from investments in engineering and marketing, we also expanded internationally. We established RedSeal Japan KK, a wholly-owned subsidiary, which is already generating revenue. It’s gratifying to see such spectacular results. In fact, we intend to allocate a significant portion of both this and next quarter’s positive cash flow to double-down on our investments in technology, marketing and global sales, including introducing new channel programs with expanded domestic and overseas coverage,” Rothrock commented.

In early July, RedSeal announced the general availability of RedSeal 8. In addition to its end-to-end network analysis and prioritization of enterprise vulnerabilities based on business risk, RedSeal 8 includes faster incident response with Layer 2 visibility, the RedSeal Network Resilience ScoreTM, and cloud connectivity (Amazon Web services and VMware vShield). An industry first, RedSeal 8 quantifies a network’s cyber resilience and displays it, and the time trend, through a state-of-the-art risk assessment control panel and a smartphone app for executives.

Analyst and market observers are taking note of RedSeal’s momentum. Last quarter, the company was named a Red Herring Top 100 North America 2015 Winner and is currently being named to additional fast-track lists.

The company also added to its management ranks to enable and support the dynamic growth demanded by modern cyber deployments. In August, RedSeal named Kurt Van Etten as VP Product Management and Gordon Adams as Chief Revenue Officer. RedSeal is seeking to further expand its team, particularly in sales and engineering (see openings here).

While most C-Level executives are sure their infrastructure is safe, many more admit that better security will only come with enhanced visibility into the network

SUNNYVALE, Calif. — June 9, 2015 — RedSeal (redseal.co), the cybersecurity analytics company, today unveiled the findings of a comprehensive study that uncovers a high level of confusion regarding security issues in the network infrastructure. Nearly 60% of the 350 C-level executives surveyed believe they can “truthfully assure the board beyond a reasonable doubt” that their organization is secure, a surprising show of confidence in an environment where many reports reveal a high incidence of network breaches in up to 97% of all companies. The RedSeal study highlights one major reason for this disconnect: Less than a third of all respondents, 32%, claim they have full visibility into their global network.

In perhaps the most striking finding, a staggering 86% of the respondents acknowledge gaps in their ability to see and understand what’s really happening inside the network. At the same time, 79% admit that it’s impossible to effectively secure what can’t be seen and understood. When asked if they “know for a fact that their network is currently under attack by hackers,” 29% said yes. That leaves open the question of what the remaining 71% actually know regarding current threats. “It’s remarkable how many executives say their networks are secure—until we drill down into the issue, and it becomes obvious not only that there are vulnerabilities, but also that many organizations have no idea where those weak spots are,” said Ray Rothrock, chairman and CEO of RedSeal. “This is exactly why corporations get breached so often even though they’ve invested in excellent security products. Security is a strategic, top-level issue, and it needs to be treated as such by the entire organization. The network is the business.”

The RedSeal research also reveals a lack of understanding about what strategic security actually entails. Almost half the executives assert that security is strategic to their businesses, yet almost three-quarters, 72%, say that security products (anti-virus, firewalls, monitoring, etc.) are necessary but not strategic to their business. Meanwhile, fully 84% agree that intra-company siloes (separate groups for security and networking operations) and inter-product siloes (disparate products, technologies, reporting) create wide gaps that prevent a truly secure environment. Those are the very concerns that could be overcome with a more strategic approach.

The study’s findings make clear that to ensure optimal security, organizations need a strategic approach that blends top-tier technologies with operations and policies that enable full network transparency. Specifically:

• 94% of the respondents say that “If I could clearly understand all the possible ways attackers can get in and out of my network — with clear, simple instructions about what should be fixed first, second, third etc. — that, to me, would be a strategic security solution and critical capability.”
• 95% of the respondents say that “If I could get the kind of intelligence that would let me comprehensively see and verify our overall state of security that, to me, would be a strategic security solution.”
• The vast majority of the respondents, up to 95%, say that to achieve critical and highly strategic security capabilities, enterprises will have to obtain “the kind of intelligence that lets them comprehensively see and verify their overall “state of security;” have the ability to tell ‘at a glance’ whether or not their security investments are working correctly or optimally; and gain the visibility to clearly see and understand all the possible ways attackers can get to high-value data—including the paths in and out of the network—with clear, simple instructions about what needs to be fixed first, second, third, etc.

“Cybercrimes have now become so commonplace that the issue sometimes doesn’t get the attention it should, and that’s a huge mistake,” said Richard Stiennon of IT-Harvest. “If you have high confidence that you will not be breached, you are doing something wrong, or more likely, not doing all you should be doing. Security should be addressed as a strategic concern by every high-ranking executive and board member.”

The RedSeal study surveyed more than 350 C-level executives. All of them are at organizations with 250 or more employees, and at least 20% lead companies with more than 1,000 employees. The responses offer a clear view into corporate America’s thinking regarding cybersecurity concerns and the different approaches enterprises take to the issue.

An infographic showing the study results is available for download at https://www.redseal.net/infographic

San Diego, CA – June 3, 2015

WHAT: Red Herring is a global media company that unites the world’s best high-technology innovators, venture investors and business decision makers in a variety of forums. The 2015 Red Herring North America conference will offer different perspectives on the outlook for technology startups—what investors look for, lessons learned, and the factors that need to be in place to ensure that creativity and the development of groundbreaking ideas can flourish.

WHY: With more than 22 years’ experience in cybersecurity, as well as extensive involvement in 18 security startups, RedSeal Chairman & CEO Ray Rothrock is uniquely positioned to offer deep insights into this critical field. He has earned industrywide respect and recognition for his focus on the Domino Effect—the idea that organizations no longer have the luxury of monitoring only their own infrastructure, since so many networks are interconnected and interdependent, and a breach in one can easily affect every company in its supply and delivery chain. He has repeatedly advocated heightened security given that enterprises of every size and in every industry have gaps in their security that can be exploited, to the detriment of others within its business reach.

WHEN:

• Wednesday, June 3, 2015
• 9:00am – 9:45am PDT
  • Keynote Session: Fireside Chat with RedSeal President & CEO Ray Rothrock

WHERE:

• Hilton San Diego Bayfront
  • Keynote Session: Fireside Chat with RedSeal President & CEO Ray Rothrock

While most C-level executives say cyberattacks can cause serious disruption to their own operation, many also express concerns about farther-reaching impact on the broader infrastructure at the local, state and national level

See associated RedSeal Domino Effect infographic

SUNNYVALE, Calif. — April 20, 2015 — RedSeal (redseal.co), the cybersecurity certification company, today unveiled its comprehensive survey of high-ranking executives that vividly illustrates widespread concern regarding the potential effects of cyberattacks in corporate America. Most of the C-level professionals surveyed readily acknowledge that a coordinated assault launched by sophisticated cybercriminals would wreak ongoing havoc on business operations, cause considerable harm to a brand, and potentially affect related companies, even entire industries. In addition, many also point out that in the networked economy, containing the problems caused by a sustained network attack will be very difficult. In fact, a major network disruption at a single company or network can easily disrupt or even wreak havoc on a local, state, national and even global level.

“As this research makes clear, securing the network infrastructure to ensure ongoing business operations is not an abstract concern: It’s a vital issue, because a successful attack will have devastating and even far-reaching consequences,” said Ray Rothrock, chairman and CEO of RedSeal. “A coordinated, sophisticated and large-scale assault will not stay within the walls of the company being attacked. It could easily trigger a domino effect and cause widespread disruption, reaching companies in other sectors and even the national grid. I’ve been investing in cybersecurity for 25 years, and I see how the level of sophistication in cyberattacks has increased dramatically in just the past few years.”

The RedSeal study surveyed more than 350 C-level executives (CEOs, CIOs, CISOs and CSOs). All are at organizations with 250 or more employees, and at least 20% lead companies with more than 1,000 employees. The answers offer a clear view into corporate America’s concerns over cybersecurity and the potential fallout from attacks on the network infrastructure.

The vast majority of the executives surveyed, 74%, acknowledge that cyberattacks on networks of U.S. organizations can cause “serious damage or disruption,” and most of the rest, 21%, admit to fears of “significant damage or disruption.” More specifically, almost 80% admit that such attacks can inflict “serious impacts to business profitability and growth,” and bring about “serious brand damage.” A large number, 45%, also related personnel concerns, saying such events will lead to a “big hit on employee productivity.” More than 43% also predict business downtime, while more than 41% fear “internal/organizational disruption or chaos.”

Moreover, many of the respondents are also very aware that in this intricately networked economy, it will be very difficult to contain the problems once an attack begins. Asked what other areas might be affected by the “resulting ripple effects of cyberattacks on one network,” a clear majority, 64%, cited “further business-related security vulnerabilities.” More than half, 56%, went further, citing “national vulnerabilities,” and an even larger number, 59%, agreed with the possibility of a security domino effect.

In fact, the idea of a domino effect—one successful attack on one network leading directly to attacks on different networks in diverse but connected sectors of the economy—clearly resonated strongly with the executives surveyed. More than half the respondents, 52%, singled out “defense systems” as being potentially affected by a cyber-criminal incident or data breach, while 45% cited “border security.” And taking a big picture approach, a significant 59% said such attacks will take their toll on “economic security.”

“What this survey rightly highlights is that in a hyper-networked economy, where most networks are inextricably linked to each other, a major network attack will be very difficult to isolate,” said Richard Stiennon of IT-Harvest. “This isn’t an IT or even a basic operational issue—it has national significance, and should be managed accordingly.”