This month, Cyber Security Company Think will mark its 10th anniversary since its launch of its now-flagship product, canary. The company started the canary after seeing millions of dollars on cyber security products, yet it took them for months or long to feel that they were violated.
Think believed that it could create a digital tripwire product that would catch hackers in the Act, and by all accounts, it did just that.
In the last decade, the company has increased to about 40 employees, most developers and engineers; Not taken on any external funding; And this year is on track this year to earn a healthy profit at $ 20 million in annual recurring revenue, almost doubled since 2021, Think founder Aaron Mir told Techcrunch.
This is an impressive, if the feat is not refreshed, at a time when many cyber security companies are inspired by brakene development and speed and fuel by enterprise capital.
Mir, who founded Thinkst and served as his chief executive of Cape Town in South Africa, told Techchchan in a call earlier this month that Think, by focusing it on its customers and what they need – especially a product that does, says that it says – and does not increase the company at an uncontrolled rate. Mir said that this approach is working, 60% of its first year indicates the customers who are still with the company.
“We are not artificially growing back, but we are also not really foolish,” grow gasoline on fire “Development-On all costs,” Mir said. “What you have to do is to maintain the promises you made, and you will develop in those who are right for you.”
In 2015, Think launched its canary hardware product – in a coal mine named canary, essentially a very early warning system – can detect and alert when hackers are present on the network.
A canary is installed like a honeypot, so that when a malicious hacker (or an authorized pen-tester stress-testing a company's defense), the canary thinks that they make it lucky by reaching Windows PCs with an open file share, or allowing it to operate an alert with an alert to operate the Windows PC with an open file share, or to the customer data, secret data, or customer data, secret API keys, or a company for the operation of a company Is.
The purpose of the canary is to reduce the amount of time that hackers have to penetrate around the victim's network to search for sensitive data, plant malware, or otherwise there is damage before being caught. According to Verizon's most recent annual data breech report, there are about 24 days on the victim's network before detecting the average hacker.
The company also offers canary tokens, its free and public offering that leaves an object of unstable value like a password, document, or credit card number, for example, in a safe place, so that when a person accesses or opens, you are alerted at the same moment when your safe place was compromised.
Mir said, “One of the things we are accidentally making lucky is that it is really difficult to deploy Canary wrong.” “If you fit it, you catch the attackers, and if you take out it, you catch the attackers.” After all, if a malicious hacker sees an advantage what they want fast, they are going to take opportunity.
“It is rare for us for a week for a week that without receiving an email from a customer saying that it saves our life, or we had a pen test and it's only one thing that has caught our attackers,” said Mir.
These are the stories of these success that “fuel” the company, Mir said, and helps to increase the company's biological sales growth. Think does not have an outbound sales team; Instead, the company largely depends on mouth words, or existing customers who want to buy the company's honeypots more.
Mir said that while Think has not taken any external funds till date, he does not congratulate the VC industry and gives importance to its insight. Assuming that some companies cannot reach where they are without heavy cash injections, they argue that the money is “not the gate that prevents you from doing goods.” Mir said that its products focus on working on working companies and their customers are the main for good business.
“My main thing is that you should run the business in such a way that you are still attractive to investment or acquisition,” Mir said. “If you make a good enough business so that you don't need it, you can always ask for it when you do.”
Mir was not shy about his company's ambitions. “We feel that every company should now run at least five cannies,” he said. Some companies have a handful canary and some hundreds or more. “There is a bunch of accessories we can do to make more money; we don't think it is necessary right now, because what we are doing is offering a good product at a reasonable price, and it is growing.”
“We are now $ 20 million, but we don't think $ 20 million is our roof,” Mir said.
Author
