Gene Stevens, CTO, and Scott Chasin, CEO, at ProtectWise. The company created a security product for large companies that records and monitors all the data crossing a client’s IT network. Kathleen Lavine | Denver Business Journal
Scott Chasin didn’t want to create yet another cybersecurity company that just tried to keep intruders out of clients’ computer systems or detect malicious software that had already breached a company’s defenses.
Plenty of companies do that already, Chasin said, and the steady stream of news headlines about large-scale breaches shows the limit of such narrowly focused cybersecurity.
ProtectWise, the Denver company that CEO Chasin co-founded, created a security product for large companies that records and monitors all the data crossing a client’s IT network. It looks for current problems, and goes back through the data records searching for signs that newly-identified hacks have occurred on the client’s networks in the past.
He likens it to a bank adding both video surveillance and security guards. It requires cloud technologies that capture and store mammoth amounts of information as well as sophisticated software to constantly sift through the data for signs of problems.
“It’s kind of a big vision that nobody’s deployed yet,” Chasin said. “The old solutions have failed. … Week after week, we see these disclosures that show the traditional endpoint security solutions aren’t working.”
The 30-employee company caught the eye of some people plugged in to the Denver startup scene in recent months, especially after it raised $14 million in venture capital financing in June. ProtectWise’s VC backing totals $17 million since its 2013 founding.
Having raised that much money so early would normally draw a lot of attention, but ProtectWise worked hard to stay off the public radar.
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