Date: 05 Sep 2018
SocView – Optimising cybersecurity operations team efficiencies
From viruses and Trojan horses to ransomware – cybersecurity threats are increasing in numbers, sophistication and variety. A report by the Center for Strategic and International Studies in partnership with McAfee estimated the cost of cybercrime to businesses at about US$600 billion each year.
And it’s not just the financial cost. Businesses are also at risk of reputation loss, should news spread about any hacking attempts or loss of customers’ private information.
To counter this threat, organizations are deploying more cybersecurity tools and solutions. This means that an organisation’s cybersecurity team could be bombarded by thousands of alerts from a myriad sources every day. With insufficient time to handle every alert, cybersecurity team could miss a critical alert.
SocView Solutions Pvt Ltd is an emerging cyber security start-up that aims to address this problem through “SocView” its integrated security operations platform. This centralises all alerts from different functions of security operations onto one platform, ensuring security analysts will never miss a single alert. Not only does SocView’s solution increase the efficiency of security analysts, by rationalizing diverse security operations onto one platform, SocView enhances intelligence sharing amongst the IT team.
SocView is built for cybersecurity analysts, by cybersecurity analysts. “With my experience in cyber security domain over 18 years, I am aware of the pain of managing security alerts on a day-to-day basis. It propelled me to develop a revolutionary and disruptive solution to address the complex problems present in the scope of day-to-day cyber security operations”, said Jayanth Varma, CEO and Founder, SocView.
“Our product is already in market. We released it in 2017 and onboarded our first enterprise customer in the United States. Currently, we are carrying out proof-of-value implementations with three other service providers in the region. From the implementations already done, SocView’s product has resulted in a minimum 30% increase in efficiency of the cybersecurity operations team,” Jayanth added.
SocView is amongst the growing number of cybersecurity start-up companies in Singapore. The company is also one of the pioneering start-ups in ICE71 Accelerate, a 3-month accelerator programme for early stage cybersecurity start-ups to sharpen their value proposition, business strategies and commercial models.
“Singapore has a good start-up ecosystem. If you look at cybersecurity today from Singapore’s point of view, the commitment and vision being provided to help cybersecurity companies is mind-boggling”, said Jayanth.
“The resources here at ICE71 are fantastic, providing us with knowledge, support and networks to other start-ups,” said COO and Co-founder, Prasanna Kumar. Prior to starting SocView, they both worked together in large multinational companies.
The local cybersecurity sector is still at a nascent stage.