Company: Identify Security Software
Founder: Ferenc Ledniczky
Headquarters: Boca Raton, Florida
Year Founded: 2013
Investors: Bootstrapped (currently raising first round)
Brief Company Description: Identify lets only the right person, from the right place, for the right purpose, access an info system; making hackers’ prowess irrelevant.
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By Andre Limarenko, president and COO
Ferenc Ledniczky has a nearly 40-year track record of creating purposeful and successful technology businesses. Well in advance of today’s highly interconnected world, Ferenc pioneered the development of a secure software platform for information management. Those efforts and the recent rise in the frequency, complexity and severity of cyber-threats drove Ferenc to form Identify Security Software Inc.
Ferenc came to America from Hungary in 1972 equipped with a technical degree and a passion to find simple solutions to complicated problems. The first thing he tackled was making the way you interact with a personal computer more natural; he developed and patented the capacitive touchpad and, in the process, enthralled Steve Jobs with it.
He then turned his drive to simplify the complex to cybersecurity. Today that effort has manifested itself as Identify Security Software Inc., a new company with a new and better way for organizations to manage access to their information systems and, thus, protect their digital assets and intellectual property.
Most all identity and access management systems in use today are based on technology developed 40 years ago; long before the existence of the interconnected world we live in with pervasive information accessible by equally pervasive devices. The security systems are intended to defend against or react against unauthorized intrusions. Identify’s approach will serve to prevent by shifting the focus and process from passwords, tokens or digital keys, and other data-driven methods to the actual user—the living, breathing human being seeking access to an information system.
Called identifyME, the solution brings together facial recognition, thermal sensing, proximity and GPS technologies in a seamless manner to ensure the right person is seeking access to the system from the right place or time, for the right reason and then makes certain it all stays that way. Once granted access a user can only deal with files or use applications for which s/he has permission as defined by the organization of which s/he is a part. identifyME will offer unique logical inference processing that analyzes practical reality, separating the probable from the improbable.
The identifyME solution will employ the factors of presence, physical attributes, identity validation, authority confirmation, location, and time, as well as ongoing monitoring and reconfirmation. Further, it is designed to complement existing security systems and can be readily integrated with in-place software.
The market opportunity Identify is pursuing is estimated at $18.5 billion. This represents much of what is currently labeled ‘Identity & Access Management’ as well as the more rapidly growing recognition technologies segment. Not to sound arrogant or blasé, but we don’t see competitors so much as we see offerings that we can complement and enhance. The identifyME solution is designed to integrate with an organization’s in-place cybersecurity infrastructure as well as its policies. Those who can make best use of our solution are large organizations whose wealth is in the form of information, like tech firms, pharmaceutical businesses, but also those for whom true security is an absolute must, such as defense contractors, financial services, firms and operators of electrical power and communications networks.
Identify’s clearest differentiation from other access methods is the elimination of passwords and tokens plus the need for two-step authentication. Simply put, only the identifyME solution allows the right person access to an information system from the right place and time for the right purpose. Another key differentiator is Identify’s leadership team. Each has at least 20 years’ experience in technology, from work in boot-strapping start-ups, rapid growth companies, to industry icons. It’s not the first time we’re creating an organization, brought a concept to life or work win-win deals, be they with investors, partners, or customers.
Our go-to-market strategy is to bring out the full solution, the one aimed at those entities for which a secure information system is paramount and then offer derivatives for situations that may not require such stringent access controls. Further, the solution will be usable from desktops, laptops and smartphones. Looking ahead, the technology can be applied in a host of other situations, for even more growth opportunity.
Akin to salesforce.com’s cry of ‘No More Software,’ Identify will stress in its marketing efforts the impact passwords have on business security and performance and how the identifyME solution enhances yet simplifies security.
Identify will begin revenue generation via direct sales, then expand to the use of distributors with an appreciation for the security arena and the vitality of our unique solution.
Our immediate need is to further fund our development activities as well as support the operational build-out. Of course, we are always looking for individuals who share our passion for disrupting a market and, in the process, make cyberspace secure, once and for all.
Identify Security Software – www.identifyss.com