Praesidio is a cloud-based cybersecurity solution that augments a company’s systems.
The company: Praesidio, a builder of Web-based cybersecurity software.
What it does: Praesidio’s algorithms detect anomalies in companies’ networks and security systems, identifying trouble spots that could be evidence of a security breach.
The need: Cybersecurity is a pressing issue for corporate America and its consumers, with hackers successfully stripping data from the likes of Target, Home Depot and JPMorgan Chase. Washington’s largest insurer, Premera Blue Cross, disclosed last month that it was the victim of an attack it didn’t discover for months.
The key: Early detection could limit the damage of successful attacks, says Edgardo Nazario, Praesidio’s 42-year-old founder.
Most Read Business Stories
- Laid-off Boeing workers to get extra federal help that doubles what most unemployed get
- Amazon plans to open more grocery stores across U.S., including ones in Seattle and Redmond
- Unemployment taxes could nearly triple by 2022 in Washington due to COVID
- FAA completes re-certification test flights of Boeing's 737 MAX
- Further layoffs at Boeing to push total job cuts in Washington to 10,500
Not a firewall: Praesidio is an analytics tool designed to complement, not replace, firewalls, malware detectors, and other staples of security software. “The whole notion that you build this impenetrable fortress that will never be breached is outdated,” Nazario said. “You’re going to be attacked, because you’re not perfect. When that happens, how are you going to react?”
Warning signs: Say a computer in a company’s network starts transmitting large chunks of data to an unknown recipient. Or a workstation that’s typically on only during workday hours starts pinging the network on nights and weekends. Praesidio’s algorithms are designed to monitor the activity across networks and identify those kind of anomalies.
The figures: Praesidio raised $1.7 million from angel investors since launching an early version of its software in November. The company employs 12 people.
Platform work: Nazario previously worked at web-based video platform company Limelight Networks after that firm bought Delve Networks, the Seattle startup he had been working for.
Symbolism aplenty: Praesidio’s offices, located inside the building named for Dexter Horton, the founder of Seattle’s first bank, feature a vault with a giant steel door. The word “Praesidio” is derived from the latin word for guard and garrison. Praesidio’s first two clients? Community banks.
— Matt Day