Winston-Salem, N.C.-based cybersecurity startup Threat Sketch has closed its first round of investments.
As a result of the investment, the company has also formed a partnership with Strategic Focus Group. Founded in 2015, Threat Sketch provides tools that enable small business owners and executives to evaluate and manage cybersecurity.
The Threat Sketch Risk Assessment ‘bridges the gap between strategic planning and technology operations’. It combines a short, executive-level survey with cybercrime statistics to create an individual risk profile. From the analysis, the company provide an actionable report that serves five critical executive management functions including empowering small business executives with knowledge about the cybersecurity risks facing their company and which threats to address first.
It also facilitates communication of the cybersecurity needs of the organisation to a diverse team of experts from multiple disciplines,and aligns business-level objectives with the cyber risk landscape through prioritisation of security initiatives and budget allocation. In addition, the product Eeuips executives with an early warning system to detect when risk management initiatives are off track and provides milestones against which executives can track progress and measure success.
“Strategic Focus Group is the perfect partner to help us transition from startup to early stage,” said Rob Arnold, Threat Sketch founder and CEO. “Their rich experience and deep technical knowledge allows us to significantly accelerate our mission to build value around our core cybersecurity risk assessment expertise.”
Strategic Focus Group was co-founded by Doug Young, an entrepreneur with experience leveraging disruptive technology to gain market dominance and scalability. He has founded numerous technology companies, each of which have had successful exits to Fortune 100 or 500 companies such as 3M Corporation and MCI Telecommunications.
Despite a rise in cybersecurity risk middle market business are not investing enough to protect themselves against potential attacks, according to a recent report.
The report from RSM US, in partnership with the U.S. Chamber of Commerce, found that the number of middle market companies reporting breaches has nearly tripled in the last three years, yet most executives remain confident in their existing data security measures and investments.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
