Justin Daniels, shareholder at Baker Donelson. Photo by John Disney/ALM Media.

 

Baker Donelson's Atlanta-based cybersecurity technology accelerator last week added a fourth company to its portfolio. The latest addition, WitFoo, is behind an incident response platform that uses automation and analytics to help companies assess potential and ongoing cybersecurity issues.

As part of the accelerator, WitFoo will work with the accelerator's seven cybersecurity mentors to develop and scale their product, and will receive six months' worth of subsidized legal counsel from Baker Donelson attorneys. The company joins three other startups participating in the accelerator: automotive security company RaceIQ, data encryption company Galaxkey, and authentication platform Authomate.

WitFoo's core platform, Precinct, has three central components of its architecture: an “evidence locker,” which collects and standardizes incident data; an “investigative engine,” which sorts through potential risk areas to identify highest priority issues; and a set of “tactical interfaces” which allow analysts to render information however they need to fit their existing workflow.

Justin Daniels, shareholder at Baker Donelson and head of the cybersecurity accelerator, explained that the team saw value in WitFoo for its ability to “prioritize potential cyberthreats so that the existing resources you have, your analysts, can spend their time handling the most important stuff.”

Because cybersecurity analyst staff tend to be fairly small and overstretched, Daniels said that a workflow software could fill an important niche in a competitive market. “Having a product that could help your people identify what are your highest priority things and what requires my immediate attention, you might be able to get the most out of your resources,” Daniels said of the product.

Tim Bradford, CEO of WitFoo, said that the company was most highly drawn to the accelerator for its mentor network, which includes chief information security officers (CISO) and other technology advisors. “It certainly broadens our network to be able to tap into those resources,” he said.

Office space within Baker Donelson's firm also played a role in attracting Bradford to the accelerator. “It provides us not only some access to their legal counsel but it provides us some office space down in Buckhead, which is kind of a business district. That's tough to come by when you're a startup,” he said.

The accelerator may also help Baker Donelson retain WitFoo as a long-standing client later on. “If everything goes well, it's our intent to hire them as our counsel,” Bradford noted.

Since launching the accelerator over two years ago, Daniels said that he's increasingly seen companies succeed or fail on the basis of the entrepreneur at the helm rather than the strength of the technology. “A lot of people can come up with great products, but you have to be able to build a business there,” Daniels said.

Cybersecurity, as Daniel remarked, is something of a “hot” market for technologists right now, especially in light of large-scale data breaches at companies like Equifax, Yahoo and others. But because of the number products on the market to help users manage their cyber-risk, Daniels said that distinguishing a company from others can be tough for both buyers and technologists.

“CISOs just don't have the time to sift through all that. You really need to have done your research and to a sense of what their concerns might be, so you can then articulate what your value proposition is,” Daniels noted.

Justin Daniels, shareholder at Baker Donelson. Photo by John Disney/ALM Media.

 

Baker Donelson's Atlanta-based cybersecurity technology accelerator last week added a fourth company to its portfolio. The latest addition, WitFoo, is behind an incident response platform that uses automation and analytics to help companies assess potential and ongoing cybersecurity issues.

As part of the accelerator, WitFoo will work with the accelerator's seven cybersecurity mentors to develop and scale their product, and will receive six months' worth of subsidized legal counsel from Baker Donelson attorneys. The company joins three other startups participating in the accelerator: automotive security company RaceIQ, data encryption company Galaxkey, and authentication platform Authomate.

WitFoo's core platform, Precinct, has three central components of its architecture: an “evidence locker,” which collects and standardizes incident data; an “investigative engine,” which sorts through potential risk areas to identify highest priority issues; and a set of “tactical interfaces” which allow analysts to render information however they need to fit their existing workflow.

Justin Daniels, shareholder at Baker Donelson and head of the cybersecurity accelerator, explained that the team saw value in WitFoo for its ability to “prioritize potential cyberthreats so that the existing resources you have, your analysts, can spend their time handling the most important stuff.”

Because cybersecurity analyst staff tend to be fairly small and overstretched, Daniels said that a workflow software could fill an important niche in a competitive market. “Having a product that could help your people identify what are your highest priority things and what requires my immediate attention, you might be able to get the most out of your resources,” Daniels said of the product.

Tim Bradford, CEO of WitFoo, said that the company was most highly drawn to the accelerator for its mentor network, which includes chief information security officers (CISO) and other technology advisors. “It certainly broadens our network to be able to tap into those resources,” he said.

Office space within Baker Donelson's firm also played a role in attracting Bradford to the accelerator. “It provides us not only some access to their legal counsel but it provides us some office space down in Buckhead, which is kind of a business district. That's tough to come by when you're a startup,” he said.

The accelerator may also help Baker Donelson retain WitFoo as a long-standing client later on. “If everything goes well, it's our intent to hire them as our counsel,” Bradford noted.

Since launching the accelerator over two years ago, Daniels said that he's increasingly seen companies succeed or fail on the basis of the entrepreneur at the helm rather than the strength of the technology. “A lot of people can come up with great products, but you have to be able to build a business there,” Daniels said.

Cybersecurity, as Daniel remarked, is something of a “hot” market for technologists right now, especially in light of large-scale data breaches at companies like Equifax, Yahoo and others. But because of the number products on the market to help users manage their cyber-risk, Daniels said that distinguishing a company from others can be tough for both buyers and technologists.

“CISOs just don't have the time to sift through all that. You really need to have done your research and to a sense of what their concerns might be, so you can then articulate what your value proposition is,” Daniels noted.