Early warning analytics system developed by ResponSight operates where existing technologies lack visibility
Melbourne, Australia – 15 April 2018 – ResponSight, an Australian data science company that provides early warning risk intelligence to enterprises, has today announced that it has entered a growth phase in the local market. The company is already working with six customers in Australia, including a big four bank, and has recently closed a $2 million seed round lead by Carthona Capital to support the company’s next growth phase. ResponSight will primarily focus on organisations in banking and finance, energy/utilities, government and professional services sectors, expanding its local market presence in Australia and commencing overseas expansion later this year.
“Too many Australian businesses don’t have a handle on risk and this needs to change. While boards and business leaders want to understand their organisation’s cyber risk posture, the way that most measure risk is arbitrary and subjectively self-assessed,” said Jeff Paine, CEO, ResponSight. “Our technology uses activity metrics and statistical data to build a profile of how a desktop, laptop or server is typically used. Using advanced analytics, we are able to provide actionable risk insights and intelligence that businesses can use as a decision-making tool.”
ResponSight was founded in 2015. The company now has offices in Sydney and Melbourne and employs 15 staff, including three developers and three data scientists. Most recently, the company hired Daniel Cran as Chief Revenue Officer, after three years as Managing Director for APAC at LogMeIn. Joanne Reeson has also joined as Head of Marketing, after heading up marketing at RSA APJ for more than 10 years. The company is currently looking to grow its staff base and work with channel and global technology partners.
“We are currently focused on growing our customer base and educating the market on using risk as a business decision-making tool. We are hiring Australian development and data science talent as we believe that there is a lot of local talent that we can harness as we grow our business both locally and in the future, globally,” said Paine.
Unlike other technologies, ResponSight’s unique approach uses statistical (numerical) metrics for measuring and assessing typical user behaviour, and does not collect or rely on personal or sensitive data. The company’s technology is designed to work with organisations’ existing cyber security solutions, playing the ‘detective’ role, while existing ‘blocking’ technology can be better leveraged to set priorities and increase effectiveness. Boards and executives gain increased visibility of risk at a point in time and over time, across the entire organisation right down to an individual level.
ResponSight attended RSA Conference 2018 in San Francisco from 16-20 April as part of the AustCyber delegation in partnership with Austrade.
Founded in 2015, ResponSight is an Australian data science company that offers behavioural analytics software to monitor desktop, laptop and server use, profile user behaviour and detect shifts in real-time enterprise risk. It offers customers an early warning risk intelligence and business decision-making tool. Using data science and an innovative approach unlike any other, ResponSight aims to provide actionable risk insights and intelligence that complements existing technologies and supports board/executive strategic decision making.