An Emerging Leader in Data Security: CryptoMove and the SINET 16 Innovation Competition
A prestigious committee of experts identified CryptoMove as a leading company in next-generation data security solutions
For CryptoMove, the past few months have gone by at a dizzying pace. We were selected as a Finalist in the U.S. Air Force’s AFWERX Multi-Domain Operations Challenge, launched tools for seamlessly protecting secrets in Kubernetes, were tagged as part of the future of data security by CB Insights, enabled anyone to easily secure information online with an all-new Chrome Browser Extension, and received a phase 4 contract from the Department of Homeland Security (DHS) Silicon Valley Innovation Program (SVIP) for data defense on drones.
Serving as a capstone to this period of dynamic growth, CryptoMove was named in September as a winner of the SINET 16 Innovation Competition. SINET is an organization that fosters collaboration among experts from across the public and private sector to promote high-impact cybersecurity solutions. The SINET 16 Award identifies CryptoMove as an emerging leader that can bring next-gen data security technology to market.
One of the reasons why the recognition from SINET is especially exciting is that its Judging Committee, made up of over 100 people, includes a diverse mix of thought leaders in the field. The review process involves vetting by CEOs, CTOs, and CISOs from major firms like Goldman Sachs, Cisco, and IBM; experienced partners in venture capital firms; and leaders from the defense sector and other government agencies.
Over 160 early-stage companies from 18 countries applied to be considered in the SINET competition. To evaluate each applicant for the SINET 16 award, the judges applied a rigorous scoring rubric that graded each company according to five key criteria:
- Urgency in the marketplace for their solution
- Level of innovation in their solution
- Their ability to solve pressing problems in data security
- Their advantages relative to competitors
- Their likelihood of success based on company fundamentals
After this process, the Judging Committee selects its top picks for the SINET 16. This recognition by a highly credentialed and cross-disciplinary judging panel highlights CryptoMove’s potential to usher in a new paradigm in data security.
In today’s blog post, we take a closer look at each of the SINET judging categories, how CryptoMove excels in these categories, and how CryptoMove will build upon this prestigious award.
Urgency in the Marketplace
It seems that barely a day goes by without breaking news of another notable data breach. Hacks and infiltrated systems have taken a toll on organizations of all types and sizes including some of the world’s biggest and best-known companies, small businesses, providers of developer tools, and national and municipal governments.
Most industry veterans will tell you that this is only the tip of the iceberg. Companies face a nearly constant barrage of attacks that are becoming increasingly sophisticated and dangerous. Even for organizations that have avoided major breaches, persistent vigilance is required to try to stay ahead of attackers. It comes as no surprise, then, that the value of the data security market is estimated to reach nearly $300B by 2025.
As systems of all kinds become more reliant on the cloud and interconnected devices and networks, the urgency for reliable data security solutions in the defense, public, and private sectors increases apace. In particular, there is growing demand for solutions that disrupt the very nature of the current cat-and-mouse game with attackers.
The traditional data protection model is built around fortifying stationary targets, but this becomes more and more vulnerable as time goes on because attackers gain knowledge about the system and where it can be infiltrated. CryptoMove shifts the attack surface entirely, utilizing patented moving target defense (MTD) technology to keep secrets fragmented, moving, and morphing. With each mutation, the system becomes harder to crack, turning time into an asset rather than a liability, effectively taking back the advantage from attackers.
Innovative and Unique Solution
In determining an award for innovation, the SINET 16 panel looks closely at whether a company’s solution is truly unique and whether their technology represents a definitive step forward.
On this account, it is clear that CryptoMove delivers a unique approach to next-gen data security. It is the first and only provider of MTD-based data security for microservices and multi-cloud. Its active defense approach harnesses the concepts of chaos engineering and game theory to offer protection that has been mathematically shown to far exceed other technologies on the market.
Ability to Solve Real and Significant Data Security Problems
CrytpoMove’s application to multi-cloud environments, edge devices, and container-based software makes it perfectly positioned to address the most pressing data security problems facing the military, government agencies, and private enterprises. Securing data at rest is a critical challenge, especially given the asymmetric threat model that plagues present-day defenses. The polymorphic movement of fragmented data driven by CryptoMove’s technology reverses that model.
CryptoMove offers a compelling short- and long-term approach to another one of the most worrisome challenges in the industry: post-quantum data protection. Right now, the CryptoMove solution protects data against “steal now, decrypt later” attacks designed to exfiltrate data that can be cracked once quantum computing is a reality. Over the longer term, CryptoMove’s ability to plug-and-play with virtually any cryptographic algorithm gives organizations a way to future-proof their technology for when standards for post-quantum encryption are formalized.
Advantages Versus Competitors
To get high marks from the SINET Judging Committee, a company must have a durable competitive advantage that allows it to retain its position as a market leader.
CryptoMove’s MTD technology is patented, and no other companies in the emerging encryption solution market can address the same problems with the same level of defense offered by CryptoMove. While other companies have applied long-known encryption algorithms to fragment data, they don’t create the movement mutation that is fundamental to generating entropy in the data store. That movement is precisely what gives defenders an asymmetrical advantage against attackers.
Furthermore, CryptoMove is not a next-generation encryption algorithm. In fact, the technology is algorithm agnostic; it enhances data protection when utilized with any cryptographic library on the back-end. For this reason, unlike algorithm-based startups, CryptoMove’s innovative value proposition is not threatened by the development of new cutting-edge algorithms.
Company Fundamentals
The final element of the SINET 16 judging criteria relates to a company’s chance for success. As part of the competition, every company must submit a detailed business plan outlining why their expectations are realistic based on the fundamentals of the company.
CryptoMove’s team and market traction demonstrate a strong foundation from which impressive growth can continue. CryptoMove’s leadership is responsible for developing and patenting the MTD technology, and the company is backed by top-tier investors as well as numerous leading security investors such as Google’s former CISO and leaders from Palo Alto Networks, FireEye, Cisco, Juniper, Cloudflare, and others.
The strength of the CryptoMove value proposition is proven by its track record in multiple military use cases. Grants received from AFWERX, a program of the United States Air Force, and the DHS innovation-focused SVIP program reflect the tremendous appeal of MTD within the complex mission environments of the defense sector. Traction with military agencies — as well as with other organizations in both the public and private sector — creates a huge market opportunity for CryptoMove as a provider of a game-changing data security solution.
SINET 16: A Sign of Things to Come
CryptoMove is honored to receive an award from an organization like SINET. This recognition underscores the market need for a fresh approach to securing data and the power of CryptoMove’s technology to bring that new approach to reality.
In the coming months, CryptoMove will continue to work closely with our clients and partners, engage users at industry conferences, and roll out new features and functionality that drive forward a new era of data security with moving target defense.
