Periodic Reporting for period 2 - CYBER-PDR (Disempowering Cyber-Attackers)
Période du rapport: 2021-01-01 au 2021-12-31
Cyber threats have evolved from relatively harmless to powerful dangers to businesses with implications on the bottom line, reputation, privacy & more. In its 2019 Global Risk Report, the World Economic Forum lists cyber threats as #4 in terms of likelihood, & #7 in terms of impact. According to an Accenture report, the accelerating cost of cybercrime in 2017 was 23% more than it was in 2016 & it’s costing organisations, on average, €10.5M. With our ground-breaking CYBER-PDR solution, the business opportunity is clear. We anticipate potential annual revenues of €87M by 2022.
Illusive enables the most effective & earliest attacker detection attackers by stopping lateral movement, & empowering rapid triage through risk-awareness & real-time attack intelligence. Illusive’s technology is scalable, noiseless, easy to operate, & invisible to attackers. Illusive frustrates attackers’ lateral movements toward crown jewels in several important ways, thereby altering reality to prevent, detect, & respond to attacker movement.
The team is currently 101 strong globally, consisting of top cyber-attack specialists & pioneering cyber technology entrepreneurs with decades of collective experience in cyber warfare & cyber intelligence. Prior to establishing Illusive Networks, Ofer Israeli was an entrepreneur in residence at Team8, Israel’s leading cybersecurity think tank & company creation platform.
The overall aim of this project is to expand into the EU market. Our commercialisation activities will include: 1) Forge a strategic alliance with Cybertrap & market a shared development with their decoy; 2) Implement 960 demos & 160 POCs, part of which will be fortune 500 companies in banking, & insurance across Europe; 3) Build a pipeline in Europe; 4) Scale-up operations; 5) Attend & speak at strategic events & tradeshows to build exposure in Europe; 6) Obtain all relevant regulatory & compliance certifications, & register additional patents & trademarks.
Illusive enables the most effective & earliest attacker detection attackers by stopping lateral movement, & empowering rapid triage through risk-awareness & real-time attack intelligence. Illusive’s technology is scalable, noiseless, easy to operate, & invisible to attackers. Illusive frustrates attackers’ lateral movements toward crown jewels in several important ways, thereby altering reality to prevent, detect, & respond to attacker movement.
The team is currently 101 strong globally, consisting of top cyber-attack specialists & pioneering cyber technology entrepreneurs with decades of collective experience in cyber warfare & cyber intelligence. Prior to establishing Illusive Networks, Ofer Israeli was an entrepreneur in residence at Team8, Israel’s leading cybersecurity think tank & company creation platform.
The overall aim of this project is to expand into the EU market. Our commercialisation activities will include: 1) Forge a strategic alliance with Cybertrap & market a shared development with their decoy; 2) Implement 960 demos & 160 POCs, part of which will be fortune 500 companies in banking, & insurance across Europe; 3) Build a pipeline in Europe; 4) Scale-up operations; 5) Attend & speak at strategic events & tradeshows to build exposure in Europe; 6) Obtain all relevant regulatory & compliance certifications, & register additional patents & trademarks.
Work Package 1:
The tasks due under work package 1 were:
Task 1.1: Decoy Development (E.g.: M1-M6) - This task was completed in June 2020. The Illusive Decoy module is built on top of CyberTrap's product.
Task 1.2: Fully develop Attack Surface Manager to expand our TAM with relation to EU company maturity (E.g.: M4-M6) - This task was completed in June 2020. ASM is designed for the pre-breach stage, to create a cyber hygiene environment, by continuously exposing and reducing the attack surface of the organization Hybrid-Cloud environment, leaving potential attackers with almost no options to move laterally.
Task 1.3: Expand deception in the Cloud efforts in order to meet new methodologies adopted by organisations introducing departments as DevOPs (M1-M6) - This task was completed in June 2020. New capabilities were added across the Illusive platform.
Task 1.4: Integration with Cybertrap to deliver to the market an EU developed full OS decoy solution (M1 M12) - This task was completed in June 2020. This is an ongoing partnership with continuous deliveries coming from CyberTrap and being embedded into Illusive's product and version every few months.
Work Package 3:
The tasks due under work package 3 were:
Task 3.1: Set up an office in Germany (M6-M12) - The German entity was registered in February 2020.
Work Package 4:
Task 4.2: Upgrade Website (M4-M6)- This task was completed in December 2020. The new site is more user friendly and has many new features and designs, including a new logo and shortcut domain. We worked with biggest companies in the sector on the new design and usability of the site. As a result, traffic has increased to the site.
Task 4.3: Complete ISO 27001 (M1-M12) – ISO 27001 is a specification for an information security management system (ISMS). The ISO certificate requires ongoing maintenance and in June 2020 we had an audit to ensure compliance. The certificate is valid for 3 years.
Task 4.4: SOC 1 (M8-M12) - The SOC 1 report has not been completed. The reason for this is that upon further assessment with our consultants, it became evident that the SOC 1 report is far less relevant than the SOC 2 report that cover the move to the Cloud, as well as GDPR compliance that we are progressing with instead.
The tasks due under work package 1 were:
Task 1.1: Decoy Development (E.g.: M1-M6) - This task was completed in June 2020. The Illusive Decoy module is built on top of CyberTrap's product.
Task 1.2: Fully develop Attack Surface Manager to expand our TAM with relation to EU company maturity (E.g.: M4-M6) - This task was completed in June 2020. ASM is designed for the pre-breach stage, to create a cyber hygiene environment, by continuously exposing and reducing the attack surface of the organization Hybrid-Cloud environment, leaving potential attackers with almost no options to move laterally.
Task 1.3: Expand deception in the Cloud efforts in order to meet new methodologies adopted by organisations introducing departments as DevOPs (M1-M6) - This task was completed in June 2020. New capabilities were added across the Illusive platform.
Task 1.4: Integration with Cybertrap to deliver to the market an EU developed full OS decoy solution (M1 M12) - This task was completed in June 2020. This is an ongoing partnership with continuous deliveries coming from CyberTrap and being embedded into Illusive's product and version every few months.
Work Package 3:
The tasks due under work package 3 were:
Task 3.1: Set up an office in Germany (M6-M12) - The German entity was registered in February 2020.
Work Package 4:
Task 4.2: Upgrade Website (M4-M6)- This task was completed in December 2020. The new site is more user friendly and has many new features and designs, including a new logo and shortcut domain. We worked with biggest companies in the sector on the new design and usability of the site. As a result, traffic has increased to the site.
Task 4.3: Complete ISO 27001 (M1-M12) – ISO 27001 is a specification for an information security management system (ISMS). The ISO certificate requires ongoing maintenance and in June 2020 we had an audit to ensure compliance. The certificate is valid for 3 years.
Task 4.4: SOC 1 (M8-M12) - The SOC 1 report has not been completed. The reason for this is that upon further assessment with our consultants, it became evident that the SOC 1 report is far less relevant than the SOC 2 report that cover the move to the Cloud, as well as GDPR compliance that we are progressing with instead.
Cyber threats have evolved from relatively harmless to powerful dangers to businesses with implications on the bottom line, reputation, privacy and more. These threats are not inherent to the weapons that are being used, but rather to the people that are wilding them, creating asymmetric warfare. The risk and impact of cyber-attacks are growing and has become a preeminent global threat. In its 2019 Global Risk Report, the World Economic Forum lists cyber threats as number 4 in terms of likelihood, and number 7 in terms of impact. This risk will persist and grow as businesses become increasingly more connected, relying not only on internet connectivity but also on new post perimeter technologies such as the Cloud in order to stay competitive and agile.
According to an Accenture report on the cost burden of cybercrime in 2017, the accelerating cost of cybercrime in 2017 was 23% more than it was in 2016 and its costing organisations, on average, €10.5M. With the above in mind, coupled with our ground-breaking CYBER-PDR solution, the business opportunity presented to a company that can offer an effective and cost-efficient solution to the cyber threats of today stand at a clear advantage. We anticipate potential annual revenues of €90M by 2022.
Illusive frustrates the attacker’s ability to move laterally toward crown jewels in several important ways, thereby altering reality to prevent, detect, and respond to attacker movement. The solution reduces the attack surface, hardens the environment to resist attacker movement and facilitates rapid and effective response. The technology removes expected information, replaces it with false data and other traps and provides defenders with information to: slow the attack, detect attackers early in the attack, know how far they are from their targets, and stop them quickly.
The overall aim of this project is to penetrate and expand into the EU market. The EU is an important market for us due its mature and growing cyber requirements and market potential. Our commercialisation activities for this project will include: 1) Forge a strategic alliance with Cybertrap and market a shared development with their decoy; 2) Implement 960 demos and 160 POCs, part of which will be fortune 500 companies in banking, and insurance across Europe, including a major insurance carrier from Germany; 3) Build a pipeline in Europe, initially in Germany, Spain, France, Finland, Sweden, Switzerland, and the UK; 4) Scale-up operations by setting up a local office in Germany and recruiting additional business development executives in Germany and UK; 5) Attend and speak at strategic events and tradeshows to build exposure in Europe; 6) Obtain all relevant regulatory and compliance certifications such as ISO, SOC, obtain complete GDPR compliance, and register additional patents and trademarks.
In this SME Phase 2 project, Illusive Networks looks to scale up our highly ambitious project from TRL 7 to TRL 9 by growing from a company focused on initial, short-term R&D, pilots, and several paying customers to a mature, commercially scalable company that will create a major economic impact in the European market.
According to an Accenture report on the cost burden of cybercrime in 2017, the accelerating cost of cybercrime in 2017 was 23% more than it was in 2016 and its costing organisations, on average, €10.5M. With the above in mind, coupled with our ground-breaking CYBER-PDR solution, the business opportunity presented to a company that can offer an effective and cost-efficient solution to the cyber threats of today stand at a clear advantage. We anticipate potential annual revenues of €90M by 2022.
Illusive frustrates the attacker’s ability to move laterally toward crown jewels in several important ways, thereby altering reality to prevent, detect, and respond to attacker movement. The solution reduces the attack surface, hardens the environment to resist attacker movement and facilitates rapid and effective response. The technology removes expected information, replaces it with false data and other traps and provides defenders with information to: slow the attack, detect attackers early in the attack, know how far they are from their targets, and stop them quickly.
The overall aim of this project is to penetrate and expand into the EU market. The EU is an important market for us due its mature and growing cyber requirements and market potential. Our commercialisation activities for this project will include: 1) Forge a strategic alliance with Cybertrap and market a shared development with their decoy; 2) Implement 960 demos and 160 POCs, part of which will be fortune 500 companies in banking, and insurance across Europe, including a major insurance carrier from Germany; 3) Build a pipeline in Europe, initially in Germany, Spain, France, Finland, Sweden, Switzerland, and the UK; 4) Scale-up operations by setting up a local office in Germany and recruiting additional business development executives in Germany and UK; 5) Attend and speak at strategic events and tradeshows to build exposure in Europe; 6) Obtain all relevant regulatory and compliance certifications such as ISO, SOC, obtain complete GDPR compliance, and register additional patents and trademarks.
In this SME Phase 2 project, Illusive Networks looks to scale up our highly ambitious project from TRL 7 to TRL 9 by growing from a company focused on initial, short-term R&D, pilots, and several paying customers to a mature, commercially scalable company that will create a major economic impact in the European market.