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Coronet |
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October 1, 2018 Issue |
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CEOCFO MAGAZINE |
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Q&A with Guy Moskowitz, Founder and CEO of Coronet providing all in one Cloud-based Enterprise Grade Cyber Security for Mid Market and Small to Medium Sized Businesses with an Artificial Intelligence Engine that Eliminates the Need for Multiple Products |
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Founder & CEO
Coronet https://www.coro.net/about-us/
Interview conducted by: Lynn Fosse, Senior Editor, CEOCFO Magazine, Published – October 1, 2018
CEOCFO: Mr. Moskowitz, the first thing I see on the Coronet website is “We make complex security simple.” What is your approach? Mr. Moskowitz: When we look at cyber security today there are two elements to understand. First, it is very segmented, which means that in order to secure certain environments you need to install and integrate multiple products. Now, once you implement them and integrate them then you need to operate them. If you are, let us say a Fortune 500 company then you do not really have an issue, because you can write a check for ten million dollars and buy the best equipment, integrate it and you can hire any staff that you need. However, when it comes to the mid market and the small to medium businesses, it is simply impossible for them. It is too complex to integrate, too expensive, and impossible to operate. We changed all of that.
CEOCFO: How have you changed all of that? Mr. Moskowitz: The first thing we did, was to eliminate the need for multiple products. Therefore, you have one system that gives you all that you need to prevent a data breach. The second thing that we did is that it is one hundred percent cloud based, so you do not need to install and operate anything on site. The third element, which is the most important one is that Coronet has one of the most advanced AI engines which is designed to autonomously manage security, eliminating the need to have a team operating the system. It is all in one, cloud based and it is fully autonomous. This is why for smaller businesses, it is extremely easy to implement our system.
CEOCFO: What are the challenges in putting so many technologies together? Mr. Moskowitz: We faced two main challenges. The first one is that designing a product for the enterprise market is totally different than designing for SMBs and SMEs. A product targeting the mid-market must be as secure but much, much, simpler to operate. The second challenge is our razor-sharp focus on the needs of the non-enterprise market. We had to balance flexibility vs. complexity. We constantly asked ourselves where are the points where security must be extremely flexible and when is that flexibility going to add a layer of complexity, which would have been a major disadvantage for the mid-market and SMBs.
CEOCFO: How do you know when the AI is ready; when there is enough in there for the choices to be relevant? Mr. Moskowitz: I think that is a great question and we get asked that question quite often. The answer is data is king. The more elements that collect data for your AI, the better your AI is. The advantage we have is that we have millions of users on our platform providing terabytes of threat data each day, feeding the AI engine. As we say, the proof is in the pudding. We automatically stop around half a million security events a day! Therefore, we can confidently say that our AI is market ready.
CEOCFO: Are most businesses you are looking to attract aware that there are all in one products and do they believe that an all in one product can really work? Mr. Moskowitz: I think it is a matter of a necessity rather than a matter of belief, because the current market offering is simply not economical for medium sized businesses or small businesses. If you aggregate the amount of money that you would need to spend in order to create a security infrastructure with existing products you will get to tens of dollars per each end user per month, which does not make any sense for small businesses. So in essence, a business that has 500 employees has three options: Implement multiple solutions at of cost of about $20K a month, ignore cyber security and hope for the best, or spend $1,500 a month on the Coronet solution.
CEOCFO: Are there specific types of businesses that are using your services today? Mr. Moskowitz: It is a huge range of businesses! It is restaurants, it is clinics that need to be compliant with HIPAA, it’s universities that are concerned about PII, and it’s anyone that needs cyber insurance.
We see two key adoption drivers: Regulatory, and Cyber-insurance
In some cases, the government has put personal liability on company owners and board members; So for example, regardless of company size, in case of a data breach, they have to report it and face regulatory scrutiny which could result in personal ramifications. Or if a company wants to get cyber insurance, they will get a long compliance checklist and have two alternatives. They will either have to buy multiple products costing tens of dollars per user per month or get Coronet which provides all in one for a fraction of that price.
CEOCFO: How do you reach potential customers? Mr. Moskowitz: We reach potential customers in two ways. The first is by partnering. We have very strong partners like Lenovo, Deutsche Telekom AG and many others that provide our services. The second which is a real innovation that we introduced to the security market, is that the platform can be completely self-service. Any company of any size can just go to our website and within ten minutes, set themselves up and get fully secured, automatically. That is the way most of our customers deploy Coronet. Just go to our website, register and they are up and running in ten minutes.
CEOCFO: How does this system work? Do you need to help companies recognize they should not click on a link in an email or will your system be able to somehow automatically recognize someone has done that? Where does the business own responsibility come into play? Mr. Moskowitz: If you look at the modern IT infrastructure especially when it comes to small and medium businesses, they all have two things in common. First, they are cloud-based. No one is buying physical servers. They use Dropbox for storage. They use Salesforce for CRM. They use Office365 for productivity and email, so their data is out there in the cloud. The second thing is that they allow employees to connect from any network, using any device – in many cases, their own personal device. This creates numerous security challenges that Coronet deals with in a very simple, elegant manner. First, we provide you an application that you install on any device. Its job is to ensures the device, and the network are safe, eliminating any breach potential from those two links in the chain.
On the other hand, we automatically connect Coronet to all the cloud services used by the company which allows us to provide single sign on, eliminate any data theft risk, prevent malware/ransomware infection, and maintain a complete audit trail of all actions taken in all services.
So one platform provides user authentication across all services, device, network, and cloud security, all working together to provide full security across all links in the chain.
CEOCFO: How do you keep up to date? How often are you making changes or tweaks? How often are there new challenges that need to be addressed in a different way? Mr. Moskowitz: Since attackers never rest, we don’t either as we have to be one step ahead. For example, in the past people worked strictly in an office; now people can and are working from anywhere. That changed how attackers work. They no longer attack your office infrastructure, they attack the infrastructure of the coffee shop, or the airport, or the municipal Wi-Fi where you log in. It is much easier for the attackers to get you there than to get you in your office. That is just an example of how attackers changed the way they attack companies. Now at Coronet we always like to be one step ahead. Therefore, we do not care which network you are connected to. We do not protect your network, we protect your connectivity. We run on any device used, regardless if it is owned by the employee, or by the company. Because we have so many nodes and so many end points using Coronet, we can identify any unusual or dangerous situations. Once we do that we find the cure and implement it in seconds! Once we identify a new attack type on our customers in Japan, we can deploy protection everywhere around the world, within is less than an hour.
CEOCFO: How is business? Mr. Moskowitz: We have been growing amazingly fast. We grow our install base with more than 10,000 new users a day, we have thousands of SMBs/SMEs running Coronet for data breach protection, and we block more than 500,000 security events a day.
CEOCFO: Why is Coronet an important company? Mr. Moskowitz: Coronet is important because it brings enterprise grade security to any size business. Regardless of your business size, you deserve enterprise grade security, and the only way to afford it is to use Coronet.
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“Regardless of your business size, you deserve enterprise grade security, and the only way to afford it is to use Coronet.”- Guy Moskowitz
Coronet https://www.coro.net/about-us/
Contact: Evan Goldberg O: 855.300.8209 ext 105
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Guy
Moskowitz