Data security software is a tough business segment, because products are generally only noteworthy when they fail. Here’s the story of one entrepreneur who’s out to change that.
If you think about it, most of the big news about data security highlights failings, from data breaches at consumer brand companies (Home Depot, Marriott, Target), financial firms (JPMorgan Chase, Equifax), and healthcare companies (Anthem, Premera) to giants of the Internet (Ebay, Facebook, Google).
But a company called Secured2, and its founder, Daren Klum, is out to change that. The company is newsworthy not for any failures, but because it’s so confident in its protection that it’s the first company in the industry to offer a cyber security warranty: indemnification against losses caused by a data breach up to $5 million, backed by Lloyd’s of London.
Here is Daren’s story.