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30 Innovators to Watch 2022

An innovator delivering ideal cybersecurity solution for small and medium organizations: CyberCatch

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Daily life is more dependent on technology than ever before. There are potential threats lurking behind every device and platform. Cyber security threats presented by modern tech are a real danger, thus, the importance for cybersecurity is at an all-time high, as it safeguards all types of data against loss and theft. All kind of data such as Sensitive data, protected health information (PHI), personally identifiable information (PII), intellectual property, personal information, data, and government and business information systems can be protected using cybersecurity tools. Cyber security encompasses technologies, processes, and methods to defend computer systems, data, and networks from attacks. Businesses and individuals can no longer just rely on out-of-the-box cybersecurity solutions like firewalls and antivirus software, cybercriminals are getting smarter and their tactics are becoming much more resilient to conventional cyber defenses. It’s important to cover all the fields of cybersecurity to stay well-protected. The proliferation of data breaches make it evident that cybersecurity is not just relevant to heavily regulated industries, but even small businesses are at a huge risk of suffering irrecoverable reputational damage following a data breach. To keep customer data protected while embracing new technology, intelligent cloud security solutions should be implemented.

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Globally there are various companies delivering excellent cybersecurity solutions for SMEs, but CyberCatch stands out from the rest. CyberCatch is a Cybersecurity Software-as-a-Service (SaaS) company focused on serving small and medium organizations. Its patented, automated cybersecurity compliance and cyber risk mitigation solution ensures continuous compliance and security. It detects non-compliance and security failures and helps remediate so an attacker cannot exploit. Recently, CIO Review Magazine awarded CyberCatch the “Most Promising Compliance Technology Provider of 2022.”  CyberCatch founder and CEO is Sai Huda, a globally recognized cybersecurity expert and author of the best-selling book, Next Level Cybersecurity. The Silicon Review recognizes CyberCatch’s innovative approach to cybersecurity and caught up with Sai for an interview and we believe readers will find his insights highly informative and timely.

In conversation with Sai Huda, CEO of CyberCatch

Q. What is CyberCatch’s value proposition?

Even though over $100 billion is spent on cybersecurity each year, there isn’t a day where one learns of an attack and data theft or ransomware. Simply put, the root cause of why threat actors are successful is security holes from ineffective controls that the target is unaware of but the attacker finds and exploits. CyberCatch eliminates the root cause. Our patented cloud-native SaaS platform solution first helps implement all necessary prevention, detection and response controls in compliance with a cybersecurity mandate, then it automatically and continuously tests the controls from three dimensions (outside-in, inside-out and social engineering) to detect security holes and non-compliance, alerts specifically where the security hole is and how to fix, and guides the organization to fix promptly, so an attacker cannot exploit a security hole and break in and steal data or install ransomware. So, continuous cyber risk mitigation via automated compliance and security. This is the unique CyberCatch invention and innovation. Additionally, threat actors are increasingly attacking small and medium-sized businesses (SMBs) because they have discovered that SMBs are the majority of the supply chain, will have the greatest pain from an attack and are the weakest link in the chain.

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8 out of 10 SMBs have vulnerabilities on their websites that they are unaware of that attackers can easily exploit, based on CyberCatch’s Small and Medium-Sized Businesses Vulnerabilities Report (SMBVR), which involved scan of 19,375 SMB websites in North America.  The average cost of a data breach is nearly $3M for an SMB based on IBM’s Cost of a Data Breach Study, a significant financial impact to an SMB, and this cost may be so high that the SMB may not survive.

Attacking an SMB provides a double bounty for attackers. They can not only steal the SMBs data and sell it in the dark web while also demanding a ransomware bounty, but also use the data to next break into a larger organization that the SMB is a supplier to. SMBs have limited knowledge about cybersecurity and resources, so they are the most vulnerable. This is why CyberCatch is focused on serving SMBs. This is another differentiator for CyberCatch. Not only solve the root cause of data thefts and ransomware, but also focus on the most vulnerable, the supply chain and SMBs.

Q. What inspires you the most about CyberCatch?

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Tom Ridge, former Secretary of the U.S. Department of Homeland Security (DHS) read my book, Next Level Cybersecurity and said to me that while the book was informative, a new invention was necessary as he saw it to solve the problem and encouraged me to start a company. So he inspired me to start CyberCatch and we are honored to have his expertise and wisdom on CyberCatch’s advisory board.  While our invention solves the root cause and why we have received patents from the United States Patent and Trademark Office (USPTO), what is really exciting and inspiring about CyberCatch is that we are not just simply bringing another cybersecurity point solution to the market, instead we are completely transforming cybersecurity with a unique solution that solves the root cause of the problem and ensures continuous compliance and cyber risk mitigation and one that is dedicated to serving the most vulnerable, the supply chain and SMBs. There are over 30 million SMBs in North America alone and millions more around the world for CyberCatch to serve and make a difference forever.

We will continue to innovate so CyberCatch continues to transform cybersecurity and make a lasting difference and a legacy we can all be proud of. So, need to lead the continued growth of CyberCatch not only in North America, but around the world, so we can make the most vulnerable, the supply chain, the SMBs, safe from cyber threats so they can continue to be successful. We are protecting the little guy from the bad guy. Just about every day we hear from one of our SMB customers what a difference CyberCatch is making to their daily lives by keeping them compliant and safe, and how affordable our solution is for them. We’ve already made a difference with hundreds of customers, but we need to reach more. This is what keeps us fired up every day.

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Why is CyberCatch optimal for SMBs?

In a nutshell, CyberCatch fills a void today. SMBs are not IT experts, so they outsource their IT to a managed services provider (MSP), but IT is not the same as cybersecurity. The MSP will do a good job to help the SMB operate, but the MSP is not a cybersecurity expert. While, the MSP will know how to operate the IT so the SMB can be up and running and do business digitally, however, the MSP will not have the time or the expertise to do what CyberCatch does, which is first identify the attack surface of the SMB, see what cybersecurity controls are in place, figure out quickly the gaps, then help the SMB implement all of the necessary controls to attain compliance and security, then automatically and continuously test the controls to make sure there are no security holes. This way an attacker cannot exploit any security holes and break in, steal data or install ransomware. So, CyberCatch fills the void and complements what the MSP provides to the SMB.

Also, there are new cybersecurity compliance mandates coming to cover the supply chain, which is comprised primarily of small and medium organizations, such as CAN/CIOSC 104 National Cyber Security Standard in Canada and NIST 800-171 and Zero Trust cybersecurity mandates in the United States.  Now with CyberCatch’s SaaS solution, an SMB can attain and maintain compliance and stay safe from threat actors for only one affordable fee annually, based on the size of the SMB. The SMB can sleep at night and instead focus on growing their business. This is why CyberCatch is ideal for any organization, but especially for SMBs. We encourage everyone to view the testimonials from our many SMB customers and a watch a quick demo of CyberCatch.

“We’ve already made a difference with hundreds of customers, but we need to reach more.”

“The CyberCatch platform helps you implement the necessary controls, and then the platform automatically and continuously tests the controls to find control failures so you can fix promptly and stay safe from attackers. All of this without you having to break the bank.”