ISRAELI cyber security firm Votiro will decide where to set up shop in Australia in the next few weeks, with both Melbourne and Sydney fiercely bidding for the group's business.
There's good reason for the competition as Votiro is one of the fastest growing cyber security firms in the world and where they decide to settle could quickly become the Asia-Pacific's cyber security capital.
Established in 2010 by Itay Glick and Aviv Grafi, both ex-Israeli military intelligence officers who served in the 8200 cyber-warfare unit, Votiro has pioneered and patented the process of "Content Disarm and Reconstruction" (CDR).
The CDR process breaks down files into objects, neutralises malicious code, and reconstructs the file into a safe to use file in under one second.
Following the Medicare hack and the Goldeneye ransomware attack Votiro secured an extra $1 million of funds in its latest raise. The group closed an oversubscribed $11.2 million raise with the funds poised to help the company launch in Australia and hunt acquisition targets.
The group, whose headquarters are in Tel Aviv, Israel, has seen a 600 per cent increase in its sales revenue from 2016 to 2017.
Globally, Votiro has more than 1.5 million users and more than 500 customers including financial institutions, government agencies, health and medical institutions, critical infrastructure providers, defence contractors and corporations.
Votiro was also named by Gartner Research as a "Cool Vendor", highlighting them as an emerging leader in the space.
Business News Australia spoke to CEO of Votiro, Itay Glick, ahead of the company's entrance into Australia about the future of cybersecurity.
Following the Goldeneye ransomware attacks, do you think people are thinking more about cybersecurity in 2017 than ever before?
I am sure they are thinking more about cyber security. You get big businesses like Disney being hacked it gets into your mind that these are very big problems. It's just more popular today to be hacked and people are seeing it with the NHS in the UK and Medicare in Australia, so now the information is out there about cyber security and people are becoming more and more concerned.
In addition to that, a lot of countries are introducing data breach disclosure laws and those laws would require people to take care with what they're doing in the cyber security area to prevent their information being breached so I'm sure they will be constructing one to save their reputation and prevent these attacks.
What does the future of cybersecurity look like to you? What new technologies will we be seeing in the future?
I believe that we will see more prevention technologies. Technologies that are here to prevent the attacks in advance because when the malware is inside your computer even for a second you might have lost all your data. I think the future of it will be more towards preventing the attack altogether, protecting and seeing if somebody's in your network.
What about the future of hacking? How do you stay ahead of those wanting to hack into big companies to steal data?
We deliver our technology to stay ahead of the hackers because our technology actually works to neutralise it. We take the file and if there is an unknown or a new type of cyber attack in that file we will be able to prevent it altogether. It's a bit hard for the hackers to bypass that I'm sure they will try to figure out how to get into the organisation but in the more common way via email, by the web, mobile devices, they will be protected.
THE MELBOURNE ACCELERATOR PROGRAM BUILDING THE FUTURE OF CYBER SECURITY STARTUPS
WHY WE SHOULD ALL FEAR GOOGLE, AND WHY A TECH STARTUP CHOSE THE GOLD COAST
Business News Australia
Get our daily business news
Sign up to our free email news updates.
Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support