Australia is home to some of the world’s fastest growing cyber security providers, many of whom have raised significant amounts of investment while expanding their operations globally.
Bugcrowd is a crowdsourced security as a service provider, offering penetration testing, bug bounty programs and vulnerability disclosure to customers across a wide range of industries.
The company was founded in Australia in 2012, but moved their headquarters to San Francisco for better access to venture capital, shorter time-to-market and improved network effects.
Bugcrowd has raised over US$80 million in funding and investors include Paladin Capital Group, Blackbird Ventures, Rally Ventures, Costanoa Ventures, SalesForce Ventures, Triangle Peak Partners and First State Super. The company employs over 300 staff across their Australian, US and UK offices.
Founded in 2015, Secure Code Warrior enables developers to build secure code rather than having to review or retrofit security during or after development. The company also provides gamified developer training and can auto correct code security errors as code is being written.
SCW has raised over US$48 million in funding and investors include Paladin Capital, AirTree, Goldman Sachs, ForgePoint Capital and CISCO Investments. The company employs over 150 staff across their Australian, US, UK, Belgium and Iceland offices.
Kasada safeguards consumers and businesses from malicious online bots. Their solution protects businesses from automated attacks, botnets and targeted fraud – across web, mobile and API channels. Besides boosting online security, the company increases traffic visibility and improves customer experience.
Kasada is one of Australia’s fastest growing cyber security startups, reporting 500% revenue growth in 2019. Founded in 2015, Kasada has raised over US$20 million and investors include CSIRO’s Main Sequence Ventures, Westpac’s VC fund Reinventure Group, In-Q-Tel, TenEleven Ventures, Our Innovation Fund and former Australian Prime Minister Malcolm Turnbull.
Kasada is expanding its global footprint servicing customers in the ASX 100, Forbes Global 2000 and mid-sized enterprises in the US and UK.
Cloud One – Conformity works with organisations around the world to implement and maintain best-in-class infrastructure security, compliance and optimisation on the public cloud. Their solution helps businesses who rely on AWS, Azure and Google Cloud to ensure their information and data remains secure.
Cloud One – Conformity provides an example of a successful exit. Founded in 2016, it was acquired in 2019 for US$70 million by global security vendor Trend Micro. Cloud One – Conformity now has offices in Australia, US, UK and Canada.
This case study is featured in Australia’s Cyber Security Sector Competitiveness Plan 2020, which can be viewed here and downloaded here.
Today HackHunter, an Australian cyber security IoT provider, is launching the portable Pursuit WiFi tracker, which detects and locates the source of unauthorised and potentially malicious WiFi with precision.
WiFi is used extensively by organisations and individuals whether they are connecting at work or within a work-from-home environment. All businesses and government digital services rely on WiFi to protect customer and commercial information, personal data and organisational assets.
But WiFi can be easily hijacked by setting up a fake WiFi network. How would you know if you had a fake WiFi network in your organisation, impersonating your WiFi? HackHunter has developed the Pursuit WiFi tracker to provide certainty to businesses that networks are secure and protected from malicious actors.
In a trial with an ASX 50 listed company, the Pursuit WiFi tracker found one Wifi device hidden under the floor that the company had no idea about and another device hidden in a bag that was remotely switched off as we approached with the Pursuit WiFi tracker.
HackHunter has just won the Australian Information Security Association (AISA) 2020 Award for Cyber Security Start Up of the year. Awarded for an organisation less than 5 years old that has brought to market a unique product innovation around cyber security.
HackHunter CEO, Tracie Thompson, said “HackHunter’s innovative technology shows organisations exactly what WiFi is operating in their network environment in real-time, and quickly finds the WiFi source with precision so it can be immediately removed if unauthorised.
“HackHunter’s vision is to make sure that WiFi remains a trusted technology by the public. It’s really satisfying to see the Pursuit tracker find unauthorised WiFi in a range of normal and unique conditions. With the use of Pursuit, businesses can now be confident that they are protected against cyber-criminals hijacking their WiFi”.
“A trial in the US with a large defence company has just concluded successfully. They were impressed with how quickly the Pursuit could detect and display their WiFi environment and how it could locate a WiFi source, in this case, a mobile phone hotspot, in a desk drawer on another floor.”
HackHunter’s innovative technology is designed, developed and manufactured in-house in Australia, using advanced 3D printing and product design principles to produce high quality devices at scale and on demand. The Pursuit weighs less than 250g, lasts over 10 hours per charge and is designed for single-handed use.
In addition, the HackHunter Insight analytics platform provides a real-time dashboard, that analyses data logs and generates automated reports, including how WiFi in the environment has changed over time.
Backed by the AustCyber Projects Fund, HackHunter has developed the Pursuit WiFi tracker from prototype to market-ready in eight months.
AustCyber CEO, Michelle Price said, the AustCyber Projects Fund is a $15 million, three- year initiative designed to help the Australian cyber security industry grow both locally and globally.
“Demand for cyber security products and services has dramatically increased in 2020, caused by the accelerated digitisation brought about by the COVID-19 pandemic. This is a significant economic opportunity for Australia’s cyber security industry. Investing in sovereign companies like HackHunter and their innovative technologies helps to improve our nation’s overall global competitiveness, as well as its cyber security.”
Visit hackhunter.io for further information and to arrange a demonstration of the Pursuit WiFi tracker (within Australia).
About HackHunter:
HackHunter is an Australian cyber security company making sure WiFi is used for good. HackHunter provides real-time visibility of the corporate WiFi network environment with its “Internet of Things” (IoT) devices including the Pursuit portable WiFi tracker, Air drone detection system and Vision continuous monitoring sensors, which detect WiFi, alert if it is malicious and locate the source with precision, to within a few centimetres. The HackHunter Insight analytics platform provides a real-time dashboard, log analysis and automated reporting.
Penten’s Export Commercialisation Playbook for Australian Cyber Startups is a new resource for Australia’s rapidly growing cyber security industry and is designed as a practical and simple guide to help early stage companies navigate the complexity of exporting their product or service to the United Kingdom (UK).
The playbook was launched yesterday at an online event – The State of Cyber Security: Exploring the UK and Australian Markets. This webinar explored the cyber security ecosystems in the UK and Australia, including areas for collaboration on innovative capability.
Assisting Australian cyber security companies to scale and export globally lies at the heart of AustCyber’s mission to support the development of a vibrant and globally competitive cyber security sector.
Michelle Price, AustCyber’s CEO, believes this playbook will help Australian cyber security companies seek new opportunities offshore, while also expanding their reach domestically.
“Promoting Australian cutting-edge cyber security technology solutions to priority international markets through trade delegations and showcase events is one mechanism through which we support companies with their market entry strategy.
“We are pleased to support Penten’s export playbook for the UK market as another practical way to sharpen our industry’s ability to successfully go global.”
Co-founder and Director of Penten, Ben Whitham, said taking the first step can be the hardest.
“We had a prototype cyber capability that was functionally ready, but not ready for buyers, especially not ready for the export market. Taking the steps to export was difficult and it took a lot of time, effort and planning.”
Penten’s CEO, Matthew Wilson, said their journey provided a valuable and very personal case study.
“The experience and learnings we took from introducing ‘TrapDocs’ to the UK planted the seed for the playbook. We quickly realised both the opportunities and obstacles that come with introducing a product into a new market.
“Having the support of AustCyber, including through co-funding of the playbook as part of their Projects Funds initiative, had a multiplier effect on the utility of the playbook.”
The playbook tackles issues from export licensing to intellectual property, marketing, choosing distributors and understanding legalities. It is structured to guide organisations through a sequence of four steps needed to successfully take cyber security products or services to the UK market.
Download Penten’s Export Commercialisation Playbook for Australian Cyber Startups (UK Edition)
Australian company Cybermerc is building AUSHIELD DEFEND, a national Threat Sharing Platform with support from AustCyber’s $15 million Projects Fund. Australian businesses will be able to collaborate and defend each other by using AUSHIELD to share information on the latest cyber threats.
COVID-19 is reshaping world affairs and geo-political relationships. According to Prime Minister the Hon. Scott Morrison, Australia is currently the target of sophisticated and sustained cyber attacks against government, research and business networks. AUSHIELD comes at a critical time, providing Australian businesses with a new and unique capability to enhance their cyber security.
AUSHIELD works by linking businesses together in a world first threat sharing platform. When any business is targeted by a new and unique cyber attack, AUSHIELD updates the community, enabling collective defence against shared threats.
Cybermerc CEO and Co-Founder, Matthew Nevin said AUSHIELD marks Australia as a world-leader in cyber knowledge, skills and technologies.
“This project is about building a community. Right now, Australian businesses are defending themselves in isolation. We want them to collaborate. AUSHIELD provides an effective way to connect businesses so they can defend each other.”
“AUSHIELD also brings cyber security companies and Australian universities together. Universities can study new attack methods and inform next generation defensive technologies, to secure Australia’s digital border.”
Michelle Price, CEO of AustCyber said today, “AustCyber’s Projects Fund is one of our key mechanisms used to identify and support cyber security through to commercialisation in Australia. The increasing reliance on technology as a result of COVID-19, and the subsequent rise in cyber attacks and cyber crime, has highlighted the importance of protecting our virtual infrastructure and digital information. AustCyber’s funding towards Cybermerc’s $2.44M Project could not have come at a more important time.”
Joining Cybermerc on the project are the Australian National University (ANU), Vault Cloud, Anomali, and Australian start-ups SecureStack and Countersight.
Dr Lesley Seebeck, CEO of the Cyber Institute at the ANU said the project will not only enable Australian cyber security companies, educators and researchers to further develop their technologies, it will inform educational programs and enable strategic research.
“Cyber now affects every facet of life, and it’s fantastic that companies like Cybermerc are working to build national capability and strengthen Australian cyber defences,” Dr Seebeck said.
“The Cyber Institute is pleased to be collaborating with Cybermerc on this project.”
Members of the cyber community wishing to join AUSHIELD DEFEND should contact Cybermerc at: https://www.cybermerc.com/contact/LinkedInTwitterFacebookShare
The NSW Cyber Security Innovation Node (NSWCSIN) and TAFE NSW today announced the launch of an online cyber security training program to help workers retrain and upskill during COVID-19.
Nine industry-aligned training modules have been designed to meet current and emerging industry needs and will provide new and existing workers with the specialist skills they need to succeed in the growing cyber security sector.
TAFE NSW Head of Technology and Business Services SkillsPoint, Dr Geethani Nair said: “These micro-learning modules will be available online and have been identified in collaboration with NSWCSIN. They draw on our nationally accredited Certificate IV in Cyber Security qualification.
“These modules will provide skills across a range of topics including detecting, protecting and responding to cyber-attacks. They are perfect for those looking to retrain, upskill and set themselves apart in the workplace.”
Each module will cost between $100 and $200 and count towards the completion of the Certificate IV in Cyber Security. This initiative is the second phase of the NSWCSIN Cyber Security Talent Accelerator program committed to future-proofing Australia’s workforce and meeting the needs of industry.
“Australia’s cyber security sector has a severe shortage of job-ready workers. This is why we have partnered with TAFE NSW to deliver in-demand training, so that businesses have the pipeline of talent they need,” said Neville Stevens, AO, Chair, NSW Cyber Security Innovation Node.
NSW Minister for Skills and Tertiary Education Geoff Lee said that the NSW Government is proactively taking next steps to increase the number of skilled workers to help Australia’s cyber security industry thrive. “There is a huge demand for skilled cyber security workers, with AustCyber estimating the need for 17,000 cyber security professionals across Australia by 2026,” said Dr Lee. “This initiative will allow students to study remotely and take advantage of TAFE NSW’s practical, innovative learning modules to gain the practical skills they need to succeed in the cyber security industry.”
NSW Minister for Jobs, Investment, Tourism and Western Sydney, the Hon Stuart Ayres MP, has also welcomed the announcement, saying: “The modules are just one way we are taking advantage of the huge economic growth opportunity in cyber security within NSW and to develop the local cyber security industry into a globally competitive and innovative ecosystem. Cyber skills are essential to meet the existing and future demands of the digital economy and the NSWCSIN is ensuring that we harness opportunities for growth.”
AustCyber CEO, Michelle Price, said the online training offered by TAFE NSW will help Australia meet the cyber security skills gap we are facing right now, delivered in a way that addresses the impacts of the COVID-19 pandemic on traditional learning methods.
“This online course is a significant contribution to national efforts to address current and emerging cyber industry needs and, importantly, broadens the ways potential cyber security workers can access a career in this critical industry.
“It builds on the established partnership between AustCyber and TAFEs across the country to deliver a nationally consistent, industry focused set of vocational qualifications in cyber security.”
AustCyber has described the economic growth opportunities as well as the skills needed to deliver on the industry’s potential in Australia’s Cyber Security Sector Competitiveness Plan.
Hewlett Packard Enterprise (HPE) Australia is supporting the program locally. HPE South Pacific Managing Director Stephen Bovis said: “Hewlett Packard Enterprise (HPE) Australia is very proud to support this new and critical initiative that puts cyber security at the forefront of NSW industry. The program gives organisations across NSW the capability to up-skill and re-skill their people, while being flexible, to support their business needs. We look forward to working with NSWCSIN and TAFE NSW to roll out and develop the program.”
TAFE NSW is now taking enrolments at https://www.tafensw.edu.au/cyber-security
locii, a Sydney-based digital identity and data security company has been successful receiving funding under contract with AustCyber, the Australian Cyber Security Growth Network to deliver next generation solutions to combat identity crime.
The recent and rapid rise in ‘deep fake’ identities created by Artificial Intelligence and Machine Learning algorithms is leading to significant fraud risks. Recent estimates by the Attorney-General’s Department indicate that identity crime costs Australia upwards of $1.6 billion each year, with the majority lost by individuals through credit card fraud, identity theft and scams. Identity crime is also a key enabler of organised crime, which costs Australia around $15 billion annually according to the Australian Federal Police. On a global scale, the United Nations Office on Drugs and Crime (UNODC) estimates could be as high as USD 2 trillion per annum.
locii is collaborating with AustCyber and leading Australian enterprises (Macquarie Bank, Australian Finance Group, Nu Mobile, and laava) to demonstrate the cybersecurity benefits of the trUUth Identity Platform. The $1.9m project is focused on mitigating the risk of identity crime by addressing inherent weaknesses in current Know Your Customer (KYC) and authentication processes by employing multiple user biometrics combined with state-of-the-art ‘liveness’ tests that significantly limit the potential for deep fake and other fraudulent identities.
The trUUth Identity Platform enables consumers and enterprises to choose any combination of biometrics for online authentication, greatly improving online security while also delivering a seamless user experience. Protection of customer identity data has been central to the design of the trUUth platform. User identity credentials are fragmented, encrypted, and sharded across multiple trusted servers to ensure maximum security.
Mike Simpson, CEO & Co-founder of locii, reiterated the benefits of the trUUth Identity Platform. “The key benefit for consumers is their online identity is more secure and they no longer need to remember many different usernames and passwords for their online services, they will simply use a combination of biometrics to login. The benefit for enterprises is increased confidence in the identity of customers and the ability to dynamically request higher levels of security by simply asking the user to authenticate with an additional biometric. The trUUth solution can streamline many online journeys, enables compliance with data privacy regulations and automates processes that support Anti-Money Laundering and Counter-Terrorism Financing. We’re excited to collaborate with AustCyber and leading Australian enterprises to demonstrate the cybersecurity benefits of the trUUth Identity Platform.”
locii is a Sydney-based digital identity and data security company focused on delivering the world’s most secure and accurate digital identity solution. locii’s trUUth suite of digital identity and authentication services addresses deficiencies of current digital identity and authentication solutions such as reliance on insecure usernames and passwords, disconnect between KYC and ongoing authentication, and potential for fraud from deep fake and other synthetic identities.
For more information please visit www.locii.id.