Santa Clara, Calif. - March 27, 2018 - World-renowned Internet security expert and successful entrepreneur Jeremiah Grossman today announced the launch of his latest venture, Bit Discovery, a powerful website discovery and portfolio management solution provider designed to help organizations to identify and manage their myriad of websites.
Today’s launch comes following the acquisition of OutsideIntel, a business intelligence platform developed by Robert “RSnake” Hansen, a highly-acclaimed Internet security expert with more than two decades of experience as both an entrepreneur and technologist.
“Many organizations simply do not know how many websites they have, nor do they know what they are, where they are, what they do, or who is responsible for them,” said Grossman, whose previous ventures include WhiteHat Security, a leader in web application security.
“Asset inventory remains an unsolved challenge because there have been no enterprise-grade solutions that solve this problem, until today,” he continued. “Our aim with Bit Discovery is to arm organizations with a website asset inventory solution that is lightning fast, simple, and incredibly comprehensive.”
The OutsideIntel technology will be used to power the Bit Discovery platform and Hansen will join the Bit Discovery founding team as Chief Technology Officer. With OutsideIntel, Hansen successfully amassed one of the most comprehensive data lakes consisting of Internet telemetry ever devised which gradually proved useful for a number of enterprise use cases, including Internet discovery.
“More than two decades ago, I started cultivating the idea of collecting the meta data of the entire Internet into a massive, high-performance data lake that could be used to help organizations to have a better understanding of just what assets they had under management,” said Hansen. “While the idea of indexing every website was met with a lot of skepticism, I also found a lot of support in the community from people like Jeremiah and others that did see the value in the work and the benefit that it has for any organization doing business on the Internet today.”
The founding mission of the Bit Discovery team is to help enterprises understand the criticality of asset inventory. Organizations that let asset inventory lapse face the potential for massive data breaches due to shadow IT. In addition, an out-of-date or incorrect asset inventory can lead to issues with proper hardware or software licensing, it can introduce issues during M&A activity, and it can cost organizations money due to unconsolidated infrastructure or bad contracts.
“Not knowing which sites exist can also cause problems if marketing isn’t aware of outdated, broken or duplicate websites,” said Hansen. “Search engines can entirely block sites that have been compromised, which can be a disaster for organic web traffic. The list goes on and on. It’s a complex problem that we are solving with a streamlined and automated solution.”
In conjunction with the company launch, Bit Discovery has teamed up with Aligned Partners, who led a $2.7 million Series A funding round with participation from several Internet security stalwarts including Jim Manico, founder of Manicode Security, Jeff Moss, founder of Black Hat and DEF CON, Brian Mulvey, co-founder and managing partner at PeakSpan Capital and Alex Stamos, CSO of Facebook.
“Bit Discovery really checks all the boxes when it comes to a smart investment: a strong technology that is solving a critical customer need, backed by a team of experts with a proven track record of successfully helping customers to solve complex operational and security challenges,” said Susan Mason, managing partner at Aligned Partners. “We are excited to partner with Jeremiah, Robert and the rest of the team to provide counsel and resources that will ensure their continued success.”
“As those of us with a heritage in web application security know, most companies don't have a clear idea of what their web asset inventory is let alone have the right tools to manage that inventory over time,” said Manico. “In that sense, Bit Discovery is solving an immediate pain point that will have positive implications on customer organizations beyond just their security posture. I look forward to supporting the team as they grow.”
“Following 10 years as an investor in information security, and more specifically, web application security, I’ve marveled at the persistent lack of awareness by enterprises in knowing the full extent of their digital footprints, despite the strategic risk it represents to their businesses,” said Mulvey. “This is a big problem that hasn’t been solved yet, and I feel privileged to be partnering with Jeremiah and Robert again, as it takes a team with their combined experience to unlock a problem this complex.”
“I am very excited to see how this talented team will revolutionize attack surface discovery and analysis,” said Stamos. “As a CISO, you have to deal with both known and unknown risks, and there are very few companies that can help quantify the latter. Bit Discovery is well-positioned to create an indispensable service for sec ops, risk management and red teams."
About Bit Discovery
Bit Discovery makes website discovery and portfolio management quick and easy. The Bit Discovery platform uses snapshots of the Internet to organize massive amounts of information and distills it down to simple and elegant portfolio tracking. The Bit Discovery solution automates the task of managing all websites and assets under management bringing immediate alerts in real-time whenever a portfolio changes. The company is backed by investment from Aligned Partners and a group of individual investors in the information security space. For more information visit: https://bitdiscovery.com.
About Aligned Partners
Aligned Partners is an early-stage venture fund focused on highly capital-efficient companies in the enterprise mobile and cloud computing sectors. Founded by experienced investors with deep venture and operating backgrounds, Aligned Partners helps its portfolio companies achieve tight product-market fit, clear value propositions, rapid growth, and strong company-investor alignment. Aligned Partners is based in Menlo Park, California. For more information visit: http://www.alignedvc.com.
KMH Communications for Bit Discovery