As Cybersecurity Business Expands, Proficio Offers Risk Scoring

In a bid to differentiate itself from the crowd of cybersecurity companies offering network monitoring services, Carlsbad, CA-based Proficio said it has developed a risk-scoring system that assesses its customers’ network security controls. In addition to highlighting each customer’s vulnerabilities to cyber-attack, Proficio said its new ThreatInsight software dashboard offers recommendations on how a customer can improve network security across four categories.

“What you want as a customer is a high-level view of the environment and how secure you are,” said said Ken Adamson, a vice president of product management at Proficio. “No one really knows where their blind spots are in their environment. We want them to recognize where those threats are, where those risks are.”

The company said its dashboard provides customers with an overview of their security posture, shows how security alerts were investigated, and assesses the behavior of employees’ devices and security logs. Proficio said its technology also enables customers to see how their risk assessment scores compare to all other Proficio customers as well as the Proficio customers that are in the same industry.

The evaluation of businesses’ cyber defenses is a young but growing subsector of the cybersecurity industry. Other players include startups such as BitSight Technologies, RiskRecon, and SecurityScorecard, as well as more established companies like FICO. San Jose, CA-based FICO is best known for measuring consumer credit risk, but it expanded into business security scores two years ago with the acquisition of Ann Arbor, MI-based QuadMetrics.

As a managed security services provider, Proficio specializes in network monitoring, intruder detection, and cyber-attack response services. By running security operations centers in San Diego, Barcelona, Singapore, (and soon in Sydney, Australia), Adamson said Proficio saves its customers the costs of continuously monitoring their own IT systems. The company has focused on mid-size businesses in markets like healthcare and financial services.

Proficio currently has more than 150 employees, with another 40 or so job openings posted on its website, Adamson said. In the eight years since it was founded, Adamson said Proficio has raised a total of $20 million from investors, including Kayne Anderson Capital Advisors, a Los Angeles-based private equity group.

As a private company, Proficio declined to provide details about its revenue, except to say that 2017 was a record year, and the company has had 29 consecutive quarters of recurring revenue growth.

Bruce V. Bigelow was the editor of Xconomy San Diego from 2008 to 2018. Read more about his life and work here. Follow @bvbigelow

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