There is a malicious attack every 39 seconds on internet-connected devices; three new phishing sites are launched every minute. Seconds can make a difference in the fast world of cybersecurity when encountering a breach, which costs $3.86M on average. With the shift to remote workforces, millions of people are now using their own tablets, laptops, and phones for work, exacerbating the vulnerabilities in a company’s cybersecurity protocols. SessionGuardian is an identity access control and authentication platform that brings continuous authentication for both browsers and devices, ensuring that threats are minimized. Us9ng a zero-trust approach, the platform prevents shoulder surfing, disables unauthorized screen sharing and screenshots, and prevents data transfers while maintaining worker privacy. SessionGuardian is versatile to be used in a variety of industries and the company has built traction within the legal, BPO, Financial Services, Healthcare, and Government market
AlleyWatch caught up with SessionGuardian COO Scott Ross to learn more about the business, the company’s strategic plans, recent round of funding, and much, much more…
Who were your investors and how much did you raise?
Our major investors were Phase 2 Investments, Robin Hood Ventures and Ben Franklin Technology Partners with several other angel investors joining our seed series round of $3M.
Tell us about the product or service that SessionGuardian offers.
SessionGuardian’s technology extends security beyond the device and onto the individual by enhancing security controls for both browser and VDI users. Our solution layers on capabilities, such as shoulder surfing detection, biometric screen lock, smartphone detection, and continuous biometric authentication, to minimize both insider and external threats to sensitive information. Our platform allows customers to really know their hybrid and third-party teams and ensure the best protocols for identity access and authorization.
What inspired the start of SessionGuardian?
Our Founder and CEO Jordan Ellington started the company in 2017 after identifying a security gap in many hybrid organizations: the human risk factor. He and his advisors saw that these organizations had security infrastructure and cyber policies in place, but they could not truly know their users beyond a traditional one-time login. SessionGuardian considers third-party and remote-work risks and eliminates uncertainty behind the user’s identity throughout the duration of a secure session. Our multi-layered technology complements existing cyber products and enhances the Zero-Trust access of organizations.
How is SessionGuardian different?
SessionGuardian flexes to the way people and organizations want to work. Our solution allows organizations to enact identity access and authentication protocols across their environment, regardless of how their users access information. By placing these controls across browser-based applications and virtual machines, we allow organizations to work seamlessly with the same level of security.
What market does SessionGuardian target and how big is it?
SessionGuardian’s target market includes financial services, banking, legal, BPOs, technology, and life sciences. We are excited to work with some of the largest companies in the world and make a global impact.
What’s your business model?
We work with our customers on a per-end user basis to ensure each component of their infrastructure has the right level of security specific to their needs.
How are you preparing for a potential economic slowdown?
We understand that customers will be more careful with how they spend their money. We speak with technology and business executives every day who are excited about the use cases we can solve for, which are always expanding and can support their initiatives. This adds confidence to our outlook, as information stakeholders will continuously demand the best for their personal information in a complex cyber environment.
What was the funding process like?
We spoke to 100-150 different investors to raise capital. This process is not for those who lack confidence in their business and passion for taking on a challenge. We answered many questions from potential investors that were valid and well thought out. We were fortunate to find people who have a successful track record of investing early and believe in our product capabilities first and foremost.
What are the biggest challenges that you faced while raising capital?
Like any seed company, we faced the balance issue. While we had to dedicate our resources to the fundraising, we also needed to iterate our technology, sell to clients, and maintain relationships. Balance is a tough thing with limited resources, but we were able to thrive because of the great people with us and around us.
What factors about your business led your investors to write the check?
Our lead investor, Phase 2 Investments, has invested in cybersecurity in the past and saw our product as complementary to what they know. The potential for our products and early traction was a key reason for writing that check.
What are the milestones you plan to achieve in the next six months?
We have an aggressive product roadmap that we plan to achieve over the next six months, and we plan to kick off new sales and marketing efforts over that same timeframe.
What advice can you offer companies in New York that do not have a fresh injection of capital in the bank?
We found investors through various methods. It is always important to network and to leave no stone unturned. We worked with lawyers who had contacts, attended alumni events, etc. You need to be all-in on the fundraising process. Spend time polishing and refining our pitch/message and give yourself plenty of time.
We found investors through various methods. It is always important to network and to leave no stone unturned. We worked with lawyers who had contacts, attended alumni events, etc. You need to be all-in on the fundraising process. Spend time polishing and refining our pitch/message and give yourself plenty of time.
Where do you see the company going now over the near term?
With our investment, we not only have the necessary capital, but also the important contacts. We look forward to adding to the network of our company to see what is possible. We see ourselves as the new standard of cybersecurity and a trendsetting company in the market.
What’s your favorite outdoor dining restaurant in NYC?
When I am in the city, I have been with friends to Saint Theo’s which was great, but I must admit I am always looking for new places to go.
