Sramana Mitra: What are the types of data and the sources of data that you’re securing? You talked about email earlier. Aki Eldar: We’re talking about any unstructured data. Unstructured data could be emails, files, or documents. Regarding your question about the source, it could be any source. It could be any application. It could be
Sramana Mitra: If you’re doing pure product, the customer is supposed to run the product and build an organization around the product. In this case, you are building that organization and you’re doing the business process on behalf of the customer. Anil Kaul: That is correct. The only thing I would add to that is
Sramana Mitra: You have good defensible IP. Varun Singh: Very good defensible IP. That started a few conversation with other VCs. I started a conversation with BV Jagdish from NetScaler. I was one of BV’s largest customers in India. I knew him through Net Magic because he was on the Board. He introduced me to Justin
Sramana Mitra: You had that experience as well. Both of you were security industry insiders and had lots of insight into what’s happening. The reason why I’m asking for this background is that security is probably the segment of the startup industry that has the maximum entrepreneurial activity. It’s crowded. There’s constant startup activity going on.
Sramana Mitra: All your core customers today are based on your Mckinsey network essentially. Anil Kaul: Not anymore. Sramana Mitra: But that’s how it got developed. Anil Kaul: In the beginning. Sramana Mitra: Talk to me about the business dynamics. Typically, outsourcing companies have a certain model. There’s a certain profitability structure. They are not
Sramana Mitra: You guys have already done six months prototype building with seven engineers? Varun Singh: Yes. Sramana Mitra: Nexus gave you money before that process started? Varun Singh: Nexus gave us our seed round. Sramana Mitra: How much? Varun Singh: $750,000. Sramana Mitra: How long did that take you?
Aki Eldar: I and my brother founded Secure Islands. We did that because we figured out that there is a huge problem in the security industry. The problem was that people are talking about securing data, but they’re not actually doing it. They are securing the infrastructure, the exits, and the devices. But they are not
Sramana Mitra: Give me some examples of a typical client situation. Anil Kaul: For example, our client wanted to optimize their advertising spend. This was a company here in the Bay Area. It’s an online company and they had been doing a lot of spending. At some point in time, they decided to run a