A new website www.entercyber.com has just emerged. The initial funding is $1M and the owners estimate the offerings market cap is $100M. We can’t say it has risen in the crowded market of companies bringing transparency to cybersecurity because there aren’t any. There are thousands of cybersecurity merchants globally providing products and services. This marketplace includes law firms, responders, pen testers, manufacturers, assessors, policy writers, engineers, insurance, hardware and software companies. Experts predict that the market globally will reach $2 trillion globally in just a couple of years. There is no enterprise that connects them as a market. More importantly, a host of value-based services are hidden and not accessible to consumers. Businesses, as consumers, need solutions but don’t know who to call or how to compare their potential options for service when presented with them.
Guidance is usually provided by the vendor that is selling the service. This means consumers are most likely not gaining the greatest return on investment when they make a cybersecurity related purchase, nor can they empirically show excellence in their market research. In most case, business considerations used in their acquisition strategy process is absent when it comes to cybersecurity purchasing. This because there are common challenges for companies planning for cyber resilience.
It is the same for those that are under cyber-attack and seeking a close solution. This paradigm assures a continuation of bad cyber spending. Most acquisitions teams lack the intelligence to select vendors according to a business strategy. Not intelligence as in being smart people, but business intelligence. This has the effect of driving prices up for services that may have been relatively inexpensive had there been competition or an informed choice.
Compounding this issue is the limited opportunities for competition because search engines like Google present potential customers with options based on how much the vendor paid to reach the top of the search results. Common questions most companies have about cyber related purchases include:
- How do I know which companies exist that can assist in fulfilling my current cyber needs and which ones are available or even nearby?
- How would past customers rate cybersecurity companies of service?
- How long has my perspective vendor been in business and are they in good standing legally, regulatorily and in the eyes of past customers?
- How do I know if a company is charging too much? Is this normal and appropriate or are we being hustled?
- Is there a marketplace to compare prices of products and services?
- Who can I call to provide some unbiased and legitimate cyber guidance?
- Is there any documentation in one central repository for my C level or IT team to access (NIST, DHS, standards, best-practices etc).
- Is there a Registry of cyber professionals I can access and find the name / credentials of individuals, working for my vendor and might be entering my network?
EnterCyber.com answers those questions. EnterCyber answers the question “who do I call” with my cybersecurity questions, outsourcing requirements or incident response needs. The company makes it convenient to find cybersecurity products and services and gain insights on the performance of service providers.
EnterCyber fills this gap based on recommendations from the community. The website connects consumers to these vendors through the management of an electronic commerce (E-Commerce) platform www.entercyber.com The eco-system, provides opportunities for consumers to rate companies of which they have done business. The circulation that occurs on the website from continuous education, opportunities to rate companies and new convenient shopping allows a view across the market and transparency that has never existed. EnterCyber will define the cyber market and help companies profit from cost savings on services for all consumers.