But that is what regular software does as well, right?
“Traditional solutions are placed like a net around the web application , and block known hacks. However, hackers are inventive in making new attacks and if they find a weak spot, they can easily get through. BitSensor is a plugin: It’s installed in the application’s software. Hence, BitSensor continuously stays up to date of current attacks and can keep the system 100% safe.”
Is that the difference between BitSensor and others?
“Yes, and the speed with which it works. A research from Verizon shows that it takes about nine months until they discover a hack. BitSensor does this in a blink, which limits any damage. The remaining 95% would otherwise only be revealed if someone accidentally notices it, or when a customer has seen something suspicious. And then it’s too late.”
How can BitSensor be so agile and valuable?
“BitSensor is computed in a way that, as it were, someone is always monitoring the software from within. Regular security looks at an endless list of inputs and blocks the IP address that the hacks initiate, without knowing what happens in the application. BitSensor is installed inside of an application and thus knows how to process data. BitSensor looks at the hacker’s IP, and also its location, its attacking pattern, and the resources used. Combine this with the speed, and you have a powerful means of limiting damage and learning about threats.”
How did you come up with the idea?
“More and more people handle things online, so their privacy needs to be guaranteed. We are responding to the growing demand for easily secured web applications. From the start, we are working towards the new regulations, which gives us a head start compared to our competitors.”
What are the experiences of BitSensor users?
“BitSensor is personalized to operate on the client’s software. Because our customers experience this customer-centric approach, they mostly stay for a longer period of time, even though they have the possibility to cancel on a monthly base.”
Do you find regular security software useless in general?
“No, absolutely not. Regular security software protects against all known and outdated hacks, and maintains the first layer of attacks. BitSensor responds to the new unknown hacks. This is interesting for big organizations with sensitive client data, hence our focus on this market.”
Who is your biggest competitor?
“The current security solutions, which only provide partial safety. Besides this, our potential consumer’s attitude towards safety. BitSensor attempts to persuade potential customers by realizing a proof of concept with their own system. We then compare these results with the results of their current security system.”
Who is your target audience?
“We started by targeting small and medium organizations, but their budget for software security is limited and when a project was cancelled, the purchase of BitSensor was cancelled as well. Now, we mostly work with organizations in the financial sector for instance, who have a bigger risk level. But we welcome all organizations who want to be protected thoroughly from external threats.”
You talked about regulation, what type of regulation do you keep in mind?
“GDPR and PSD2 will be enforced in May 2018 in the European Union. These are new, enhanced privacy measures for consumer data that every company in Europe must comply to. This protects consumers within the EU. For companies, it is difficult to adjust all of their consumer data to these regulations, but with BitSensor, applications remain safe.”
Volta Ventures has recently invested in BitSensor, how did you get them to invest?
“Various venture capitalists were interested in our investment round. We chose Volta Ventures because they want to think with us to help BitSensor grow. Within only three weeks, we started cooperating with Volta Ventures, which was well timed: after our exploration of the SME market. With the investment, we can make adjustments in BitSensor so we can serve all our customer’s security needs.”
How do you see the future of BiSensor?
“We want to attract more technical talent and grow internationally. Next year, we will scale up in our neighboring countries. In addition, our participation in the Accenture Innovation Awards will help us: We’re going for the Blue Tulip, but it’s just as important that we expand our network and introduce more people to this new way of security.”