Conducting business and communicating with business associates over the internet can be dangerous. From corporate competitors looking to gain insight into your proprietary information, to the black-hat hacker, whose primary goal is chaos and destruction, the internet can many times be just as treacherous as it is helpful.
This certainty is what makes a service like BitSight such a welcome addition to virtually any company that does business in cyberspace.
BitSight was founded in 2011 by MIT-graduates, Nagarjuna Venna and Stephen Boyer. In 2012, BitSight was joined by former Q1 Labs veteran, Shaun McConnon. Since its inception, BitSight has received over $24 million in series-A funding from a veritable who’s who of venture capital firms. These include Globespan Capital Partners, Menlo Ventures, Flybridge Capital Partners, and Commonwealth Capital Ventures.
“We are excited to bring a new evidence based approach to quantifying security risks while providing our customers with actionable insight to quickly respond to emerging data security threats,” says CEO, Shaun McConnon “BitSight is well positioned to drive innovation in the security risk management market. We are continuing to hire the best people in their fields of expertise to enhance BitSight’s innovative platform.”
Bitsight’s goal is to deliver a clear method, which measures just how safe and secure your company’s data actually is. Primary methods that make this possible are:
BitSight Security Rating Platform
The BitSight Security Rating Platform is designed to gather mountains of data on a daily basis, using sensors that have been deployed across the world. Once this data has been collected, it is separated into several categories based on perceived risk. These risks include the usual suspects, such as botnets, spam and malware.
Once these classifications have been made, BitSight maps the data to your known network. Once completed, the data and paths are analyzed for how often these problems can occur based on your current network configuration. This information is used to assign a rating on just how secure your network is.
BitSight has developed a ratings system that is similar in many ways to the way credit scores work with average individuals. Rating numbers range between 250 to 900, with higher scores denoting a more secure network.
The ratings provided by the BitSight Security Rating Platform are very flexible and can be configured to gauge things by whole company to individual user groups. These ratings can then be used to evaluate performance, as well as help leverage third-party risk management and cyber-insurance policies.
While security will always be a matter of concern when dealing with virtual business activities, a service like BitSight can provide clear indication of just how secure your business actually is.
By Joe Pellicone
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