- Website: https://www.balbix.com/
- Company size (employees): 100 to 499
- Country: United States
- Headquarters Region: North America
In 3 bullets, summarize why this company is different from the competition and deserves recognition:
- As the world of “security” and “risk” collide, Balbix is unique in bringing AI and automation to help solve the problem of understanding and acting upon a very broad range of IT vulnerabilities and the business risk of every potential cyber-breach. The implication and significance of this innovative capability is huge -- Gartner stated in its August 2018 Critical Capabilities report on IT Risk Management that Balbix “has set itself on a path to establish itself as a disruptor in the cybersecurity risk management solutions space” by helping enterprises get ahead of breaches.
- Balbix’s competitors are legacy, episodic (non-continuous) products in vulnerability management (e.g., Qualys, Rapid7, Tenable) or human-heavy, home grown scripts and tools (security testing). On the “risk” side, Balbix is competing with legacy products that rely on significant human input to assess risk.
- Balbix offers a cloud-based offering called BreachControl™, which is the security industry’s first system to leverage specialized artificial intelligence (AI) and deep learning to provide enterprises with a continuous predictive assessment of breach risk across more than 200 attack vectors. BreachControl forecasts cyber-breaches before they occur -- something that almost no security products do today -- and recommends actions to proactively fix them.
In less than 300 words, summarize the achievements of the company in the nominated category
In the three years since its founding, Balbix has needed to hit critical milestones to prove itself as a real player in the industry–both to the analyst community and to prospects alike. Between the end of year one and today, Balbix finished building out its development team with security and AI experts, launched its BreachControl product, secured major and innovative production customers (e.g. Nutanix, Cavium, Equinix), and was named a Gartner Cool Vendor for Security and Risk Management.
Balbix recently raised $20 million in its Series B round. Singtel Innov8, the corporate venture fund of Singtel led the round, joined by John Chambers, the former CEO and Executive Chairman of Cisco, Mubadala Ventures, the venture arm of Abu Dhabi’s $127 billion sovereign fund Mubadala Investment Company, our Series A investor Mayfield, as well as industry luminaries Pankaj Patel, Gary Gauba, and BV Jagadeesh.
– “Balbix allows us to get ahead of our threat environment by proactively identifying our most significant sources of IT risk and prioritizing them for mitigation… so we are able to focus our limited security resources for the most impact. As a result, our team has been able to increase Cavium’s security maturity level.” Ted John, VP of Infrastructure, Cavium
– “Balbix raised $20 million in Series B funding and has set itself on a path to establish itself as a disruptor in the cybersecurity risk management solutions space.” Gartner, Critical Capabilities for IT Risk Management Solutions, August 2018.
– “Frost & Sullivan considers Balbix’s solution an impressive step in reinventing cybersecurity practices, a move towards increased resilience to cyber threats – as opposed to the outdated practice of mitigating a security breach after it occurs.” Frost & Sullivan, Technology Innovation Award, Vulnerability Management, October 2018.