iDefense gives security and risk management professionals relevant, timely and actionable security intelligence, enabling businesses and governments to make smarter decisions to defend against new and evolving threats.
- Virtual CTO
- Technology Assessment
- Product Management
- Software Development
In an IT world beset by hackers, iDEFENSE delivered the best cyber threat intelligence in the marketplace; however, its offerings, which were delivered through e-mail newsletters and an online portal, weren’t selling. And the companies that did purchase its products rarely used them. Revenues were low. In addition, iDEFENSE’s platform sometimes proved unreliable and unable to deliver timely actionable intelligence. Given that iDEFENSE delivered unique information on IT security threats, what was the secret to selling and delivering its products effectively?
We began our work at iDEFENSE by performing a detailed technical assessment for the CEO. The assessment laid out a prioritized list of seventeen problems with their technology platform and team with recommended solutions. When things began breaking in their platform in the order we predicted, we were brought in to assume two, key operating roles in iDEFENSE. Rick Garvin became CTO and managed the development and operations teams, while Alden Hart assumed the Head of Product role. First, we worked with the internal development team, augmenting with our developers, to stabilize the platform for reliable customer operation.
Next, we analyzed how the service was used and determined that the primary users were security experts working at consoles in data centers. These users were unlikely to check e-mail or a portal to look for current threat information, but would value the information highly if it were delivered directly to their consoles in the data center, where they could take action on it immediately. Based on this analysis, we substantially revised the product roadmap and then rebuilt iDEFENSE as a service, so that it could deliver threat intelligence as a feed into the leading Security Information Management products. In a business where publishing information first is a key differentiator, we designed and developed a lightweight rapid content publication system that decreased the publication cycle time by more than 50%.
iDEFENSE then inked partnerships with most of the leading SIM providers and Department of Homeland Security’s US-CERT team, and its offerings became a key value-added offering.
The results were transformative:
Revenues increased from a few thousand dollars per month to a $1.4 million a month (a $16 million annual run rate) within 12 months.
Global 1000 companies in the financial services, insurance, healthcare, manufacturing, and government sectors bought and deployed the product.
Usage and customer satisfaction levels were very high.
We replaced ourselves by recruiting a world class Head of Product and Director of Software Development.
Verisign acquired iDEFENSE 18 months after we started the turnaround – providing a 60 times return on investment for the Company’s investors.