Risk Management Platform Dosec.io is Planning Moving to Estonia
Cyber security is one of the biggest challenges for many companies today. It is for this purpose that several years ago Mikheil Basilaia and two like-minded people founded dosec.io. Its goal is to enable cybersecurity managers to plan, monitor, and ensure system and organizational security through a single platform.
MVP spoke to its co-founder, Mikheil Basilaia, in detail about dosec:
Davit Agniashvili and I have been working in the field of cyber security since 2012. In 2015, we founded Cyberhouse, a consulting and auditing company. Within the framework of work on Cyberhouse, we also had projects abroad. And in the process, we observed that we, as cyber security managers, and our clients, had to manage processes with emails and Excel files, which was inefficient. We tried different tools, but we didn't really like any of them. After long discussions, we came to the idea of creating a platform.
Tell us about the problem your startup is solving.
The main challenge of risk and cyber security management is complexity, which in turn makes it difficult to make optimal decisions. Risk and cyber security managers interact with an average of 12 different tools during their work. Due to complexity, only 30-40% of human resources are spent on managing processes.
dosec.io is a risk (both operational and cyber) management platform that saves an organization significant human resources through collaboration, visualization, and automation.
What product/service do you offer to customers?
Our clients are large organizations with dedicated risk and cyber security teams. We offer them a platform through which they can see all their important work in one window, can automate routine tasks, collaborate with other structural units, and various visual tools that will help in the analysis process.
Tell us about the general business model - how does the startup work and how do you monetize?
The platform is SaaS, deployed on Amazon (AWS), we have annual licensing. We do not license individual modules of the platform, nor do we limit the number of users.
Who are the founders?
We are 3 co-founders. The third co-founder is the head of software development/CTO. We have 3 developers and 1 business analyst.
David and I share the position of the product owner.
How would you recall the first steps of entering the market and how have you developed since then? Where did the initial capital come from?
Our initial capital came from GITA's 100,000 GEL grant program. We started creating the first version of the product, which we had ready in a few months. Then we showed it to various large organizations in Georgia, and that's where the first interest and the first client came from.
At what stage is your startup today? What is your current achievement?
We have 1 client. One of the largest banks in Georgia. And 3 more banks are using our demo version.
What are your future plans?
We are planning to move to Estonia, where we want to initially base ourselves on the Baltic and Polish markets. We want this to be the basis for our further expansion.
Source: MVP