4 min read
In the rapidly evolving landscape of cybersecurity, data breaches and internal threats continue to make headlines. But one startup is poised to make a significant impact. Meet Mimoto, a trailblazing company that offers a unique security compliance solution designed to bridge the gap between security policies and human behavior.
At the heart of Mimoto’s vision is the recognition that traditional security measures often fall short. That’s especially true when it comes to addressing threats originating from within an organization, such as employees who simply ignore their organization’s security protocols. Founded by Kris Bondi and Doug Coburn, the startup is on a mission to reduce the biggest security risk factor, the unknown internal human element.
In this blog post, we will explore the intricacies of Mimoto and its groundbreaking product.
The Problem
Data breaches continue to pose a significant threat to organizations of all sizes. According to IBM’s Cybersecurity Intelligence Index, a taggering 95% of these breaches are attributed to employee actions, whether unintentional mistakes or deliberate actions.
Furthermore, according to the 2020 Verizon Data Breach Report, internal bad actors are responsible for 35% of data breaches. This highlights the urgent need for a comprehensive solution that addresses these vulnerabilities at their core.
To punctuate the challenges organizations face in trying to address who is accessing internal systems, Gartner included Identity Proofing and Affirmation as a hot topic at its 2023 Identity Management Summit. The event highlighted the importance of establishing “trust in a user’s real-world identity, while creating minimal friction in the user experience.”
The Solution
Mimoto offers a cutting-edge security compliance solution that leverages advanced machine learning techniques to match verified profiles with specific individuals. This innovative approach enables the platform to detect and automatically respond to anomalies in account usage and deviations from established policies. The result? There’s now a level of understanding within the organization that wasn’t possible until now. For example, even when a group account, such as an admin account, is used, Mimoto identifies which person within the group is using the admin access, or if someone unauthorized is using it.
Mimoto addresses a critical gap that exists in many organizations. It bridges the divide between the security and compliance policies that companies put in place and the actual behavior of internal stakeholders. By doing so, Mimoto provides unparalleled insight into employee actions, allowing for swift action when discrepancies or suspicious activities arise.
Revolutionizing Security Adherence
Central to Mimoto’s security compliance solution is the ability to match machine learning-generated verified profiles with specific individuals. Unlike traditional approaches that focus on credentials, Mimoto shifts the focus to the individual behind the actions.
This novel approach enables the platform to identify and mitigate previously unnoticed internal threats. By prioritizing human behavior, Mimoto aligns its goals with the priorities of CIOs and CTOs. This includes data extraction, operational continuity, legal and regulatory adherence, and contractual obligations.
The Future of Cybersecurity
As the digital landscape becomes increasingly complex, organizations are recognizing the need to adopt more sophisticated security measures. Mimoto’s innovative solution represents a step forward in addressing one of the most significant challenges in cybersecurity: internal threats. By offering a tool that not only identifies anomalies but also responds to them in real-time, Mimoto empowers organizations to safeguard their sensitive data and maintain compliance with industry regulations.
In conclusion, Mimoto’s approach to internal security signifies a paradigm shift in how we approach cybersecurity. By focusing on the human element and addressing the gap between policies and behavior, Mimoto is poised to become a game-changer in the industry.
Mimoto is an FN Fund portfolio company. Headquartered in San Francisco, FN Fund is a seed-stage venture capital firm affiliated with Founders Network (FN). To learn more about FN Fund, click here.
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