Spinout which automates IT risk assessment launches at CES
A spinout from the University of Southampton and backed by UK government is launching an innovative web-based solution to make IT security compliance easy at CES 2020 in Las Vegas.
In contrast to other solutions, SPYDERISK automates much of the risk assessment process mandated by SOC-2 and ISO 27001: finding all the threats in a system, following the web of attack paths and considering how one threat can lead to another. SPYDERISK calculates risk based on the threat likelihood and business impact, and proposes mitigations drawn from a detailed knowledgebase before generating the reports needed for compliance certification.
Cyber-attacks and data breaches represent one of the greatest risks facing modern businesses. The Wannacry ransomware attack in 2017 affected more than 200,000 computers across 150 countries and caused billions of dollars of damage.
With the average cost of a data breach in 2019 in the US at $8M, this danger is increasingly driving companies to obtain compliance
certification such as SOC-2 and ISO 27001 and also to demand them from their supply chain. Finding the threats to a system and getting certified takes months of manual work every year for a qualified cyber-security professional, taking away valuable time which could be used for actually improving security.
Attendees at the SPYDERISK product launch, taking place on the Future Worlds accelerator stand at CES (booths 51733 and 51735), are able to get a hands-on demo of the technology and meet the founding team. SPYDERISK is seeking early-adopter customers who would like to get ahead of the game, and reduce the burden of compliance through cutting-edge automation.
Graham Stuart MP, Minister for Investment said “We are facing increasing global cybersecurity threats and SPYDERISK’s solutions
highlight the strength of the UK cyber sector and our world-leading university research.
DIT is proud to support British innovators as they launch at CES to achieve global impact and change the world with their ideas.”
SPYDERISK Founder Dr Stephen Phillips, said “This ground-breaking product is a game-changer for enterprises, dramatically reducing the time and cost to understand and manage security threats, to ensure better protection and compliance certification.”
Head of Research, Professor Mike Surridge, said “I am delighted that seven years of detailed research on modelling risk has produced such a valuable commercial product, and in doing so provides an important defence against the prevalent threats to IT security that face the world today.”
SPYDERISK is a spinout from the University of Southampton’s IT Innovation Centre and part of Future Worlds, the University’s startup accelerator. SPYDERISK has received backing from the UK government as part of the national cyber security strategy.