Build → Enable → Secure
This is the lifecycle of a business – founders begin their journey with an idea that they build into a differentiated product; they enable and empower a team to grow the business; and then they secure it against internal and external risks.
At Access Venture Partners, we’ve worked with companies over the last 25 years to build, enable, and secure their businesses, and have developed a deep understanding of the technology and business fundamentals that drive success. In every portfolio, we have invested in companies that have generated tremendous value for their customers, created jobs in their community, and ultimately delivered excellent returns to shareholders.
As we move forward in 2024, we are excited to continue working with founders that are solving problems across each of these critical business processes.
Over the next few months, we’re excited to share our perspectives around each segment as well as highlight some of the interesting companies from our portfolio and community!
Secure
From our earliest days as a fund, investing in technology solutions that will improve the resiliency and security of digital and physical systems has been a core competency. In 2001, we invested in Alert Logic. In 2006, we invested in LogRhythm. Our third fund made an investment in Red Canary in 2015. Today, we continue to support the sharpest technical founders at the cutting edge of cybersecurity.
Security has always been an attractive place to invest as adversaries continually leverage new approaches and technologies to attack our systems. We believe that there has never been a more important time to invest in cybersecurity especially given today’s geopolitical unrest.
What are some of the areas we are excited about for 2024?
Application of AI in cybersecurity: We’ll start with this one as it’s been top of mind for investors and operators across the industry. We’ve seen AI-enabled solutions apply to co-pilots, analysis of network data, prioritization of SOC alerts, and more. But a big challenge will be earning the trust of these security analysts as they continue to manage the influx of alerts and competing priorities. At Access, we’ve invested in companies such as Radicl that are utilizing AI to help with automating detections and actions.
Expansion of Data Security: Data security and its relationship to privacy and compliance concerns has long been a challenge for SMBs and enterprises. With the continued adoption of privacy regulations such as EU’s GDPR or the CCPA, we are witnessing compliance and privacy professionals get involved with security teams in determining governance processes.
Moving away from passwords: In 2023, we saw the FIDO Alliance gain momentum with support from the likes of Apple, Microsoft, and Google. Password based authentication methods have long been vulnerable to phishing and credential stuffing attacks. However, passwords have been a common authentication process and behavioral change will be needed to bridge the gap to passwordless. Companies such as Dapple Security are tackling this transition and securing the future of logins.
Mitigating Risks in AI Model Implementation: While large language models have been developed to improve efficiencies across industries, this has also introduced new attack vectors that need to be properly managed. As organizations begin to implement LLMs, their cybersecurity posture should also take into account these risks.
Source: OWASP
What else are we up to this year in security?
- Eric will be attending Black Hat 2024 in August (reach out if you’d like to catch up)
- We’ll be hosting some cybersecurity dinners for founders and investors in Denver, NYC, DC, and SF with some exciting partners (to be announced!). If you’d like to partner with us, reach out to Eric.
- Partnering with a Columbia Business School MBA fellow for a research project on security considerations of LLMs (reach out if you have some perspectives you’d like to share with him!)
- Finding, investing in, and supporting founders that are enhancing the security of our digital and physical systems!
