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Category Archives — Enterprise

InVision design tool Studio gets an app store, asset store – TechCrunch

InVision, the startup that wants to be the operating system for designers, today introduced its app store and asset store within InVision Studio. In short, InVision Studio users now have access to some of their most-used apps and services from right within the Studio design tool. Plus, those same users will be able to shop for icons, UX/UI components, typefaces and more from within Studio.

While Studio is still in its early days, InVision has compiled a solid list of initial app store partners, including Google, Salesforce, Slack, Getty, Atlassian, and more.

InVision first launched as a collaboration tool for designers, letting designers upload prototypes into the cloud so that other members of the organization could leave feedback before engineers set the design in stone. Since that launch in 2011, InVision has grown to 4 million users, capturing 80 percent of the Fortune 100, raising a total of $235 million in funding.

While collaboration is the bread and butter of InVision’s business, and the only revenue stream for the company, CEO and founder Clark Valberg feels that it isn’t enough to be complementary to the current design tool ecosystem. Which is why InVision launched Studio in late 2017, hoping to take on Adobe and Sketch head-on with its own design tool.

Studio differentiates itself by focusing on the designer’s real-life workflow, which often involves mocking up designs in one app, pulling assets from another, working on animations and transitions in another, and then stitching the whole thing together to share for collaboration across InVision Cloud. Studio aims to bring all those various services into a single product, and a critical piece of that mission is building out an app store and asset store with the services too sticky for InVision to rebuild from Scratch, such as Slack or Atlassian.

With the InVision app store, Studio users can search Getty from within their design and preview various Getty images without ever leaving the app. They can then share that design via Slack or send it off to engineers within Atlassian, or push it straight to UserTesting.com to get real-time feedback from real people.

InVision Studio launched with the ability to upload an organization’s design system (type faces, icons, logos, and hex codes) directly into Studio, ensuring that designers have easy access to all the assets they need. Now InVision is taking that a step further with the launch of the asset store, letting designers sell their own assets to the greater designer ecosystem.

“Our next big move is to truly become the operating system for product design,” said Valberg. “We want to be to designers what Atlassian is for engineers, what Salesforce is to sales. We’ve worked to become a full-stack company, and now that we’re managing that entire stack it has liberated us from being complementary products to our competitors. We are now a standalone product in that respect.”

Since launching Studio, the service has grown to more than 250,000 users. The company says that Studio is still in Early Access, though it’s available to everyone here.

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Meet the speakers at The Europas, and get your ticket free (July 3, London) – TechCrunch

Excited to announce that this year’s The Europas Unconference & Awards is shaping up! Our half day Unconference kicks off on 3 July, 2018 at The Brewery in the heart of London’s “Tech City” area, followed by our startup awards dinner and fantastic party and celebration of European startups!

The event is run in partnership with TechCrunch, the official media partner. Attendees, nominees and winners will get deep discounts to TechCrunch Disrupt in Berlin, later this year.
The Europas Awards are based on voting by expert judges and the industry itself. But key to the daytime is all the speakers and invited guests. There’s no “off-limits speaker room” at The Europas, so attendees can mingle easily with VIPs and speakers.

What exactly is an Unconference? We’re dispensing with the lectures and going straight to the deep-dives, where you’ll get a front row seat with Europe’s leading investors, founders and thought leaders to discuss and debate the most urgent issues, challenges and opportunities. Up close and personal! And, crucially, a few feet away from handing over a business card. The Unconference is focused into zones including AI, Fintech, Mobility, Startups, Society, and Enterprise and Crypto / Blockchain.

We’ve confirmed 10 new speakers including:

Eileen Burbidge, Passion Capital


Carlos Eduardo Espinal, Seedcamp


Richard Muirhead, Fabric Ventures


Sitar Teli, Connect Ventures


Nancy Fechnay, Blockchain Technologist + Angel


George McDonaugh, KR1


Candice Lo, Blossom Capital


Scott Sage, Crane Venture Partners


Andrei Brasoveanu, Accel


Tina Baker, Jag Shaw Baker

How To Get Your Ticket For FREE

We’d love for you to ask your friends to join us at The Europas – and we’ve got a special way to thank you for sharing.

Your friend will enjoy a 15% discount off the price of their ticket with your code, and you’ll get 15% off the price of YOUR ticket.

That’s right, we will refund you 15% off the cost of your ticket automatically when your friend purchases a Europas ticket.

So you can grab tickets here.

Vote for your Favourite Startups

Public Voting is still humming along. Please remember to vote for your favourite startups!

Awards by category:

Hottest Media/Entertainment Startup

Hottest E-commerce/Retail Startup

Hottest Education Startup

Hottest Startup Accelerator

Hottest Marketing/AdTech Startup

Hottest Games Startup

Hottest Mobile Startup

Hottest FinTech Startup

Hottest Enterprise, SaaS or B2B Startup

Hottest Hardware Startup

Hottest Platform Economy / Marketplace

Hottest Health Startup

Hottest Cyber Security Startup

Hottest Travel Startup

Hottest Internet of Things Startup

Hottest Technology Innovation

Hottest FashionTech Startup

Hottest Tech For Good

Hottest A.I. Startup

Fastest Rising Startup Of The Year

Hottest GreenTech Startup of The Year

Hottest Startup Founders

Hottest CEO of the Year

Best Angel/Seed Investor of the Year

Hottest VC Investor of the Year

Hottest Blockchain/Crypto Startup Founder(s)

Hottest Blockchain Protocol Project

Hottest Blockchain DApp

Hottest Corporate Blockchain Project

Hottest Blockchain Investor

Hottest Blockchain ICO (Europe)

Hottest Financial Crypto Project

Hottest Blockchain for Good Project

Hottest Blockchain Identity Project

Hall Of Fame Award – Awarded to a long-term player in Europe

The Europas Grand Prix Award (to be decided from winners)

The Awards celebrates the most forward thinking and innovative tech & blockchain startups across over some 30+ categories.

Startups can apply for an award or be nominated by anyone, including our judges. It is free to enter or be nominated.

What is The Europas?

Instead of thousands and thousands of people, think of a great summer event with 1,000 of the most interesting and useful people in the industry, including key investors and leading entrepreneurs.

• No secret VIP rooms, which means you get to interact with the Speakers

• Key Founders and investors speaking; featured attendees invited to just network

• Expert speeches, discussions, and Q&A directly from the main stage

• Intimate “breakout” sessions with key players on vertical topics

• The opportunity to meet almost everyone in those small groups, super-charging your networking

• Journalists from major tech titles, newspapers and business broadcasters

• A parallel Founders-only track geared towards fund-raising and hyper-networking

• A stunning awards dinner and party which honors both the hottest startups and the leading lights in the European startup scene

• All on one day to maximise your time in London. And it’s PROBABLY sunny!

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That’s just the beginning. There’s more to come…

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Interested in sponsoring the Europas or hosting a table at the awards? Or purchasing a table for 10 or 12 guest or a half table for 5 guests? Get in touch with:
Petra Johansson
Petra@theeuropas.com
Phone: +44 (0) 20 3239 9325

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Slack introduces Actions to make it easier to create and finish tasks without leaving – TechCrunch

As Slack tries to graduate beyond a Silicon Valley darling to the go-to communications platform within a company, it’s had to find ways to increasingly pitch itself as an intelligent Swiss Army knife for companies — and not just a simple chat app — and it is trying to continue that today once again with a new feature called Actions.

Companies can now bake in a user experience of their own directly into the Slack application that isn’t yet another chatbot that’s tied into their services. Developers can essentially create a customized prompt for any kind of action, like submitting a support ticket, within the Slack core chat experience through a drop-down window called an Action. While Slackbots may have been an early incarnation of this, Slack’s platform has grown to include more than 200,000 developers, and there’s still constant need for robust tools internally. This offers partners and developers a little more flexibility when it comes to figuring out what experience makes the most sense for people that sit in Slack all day, but have to keep porting information to and from their own tools.

“There’s such a demand for specialized software, and for great tools that are easy to use and interoperable with all applications you use,” Slack chief product officer April Underwood said. “We think this is good, and we think more tools means customers have more choice. Ultimately there’s more competition in the marketplace, that means the best tools, the ones that truly help companies do their best work, rise to the top. But your work experience becomes increasingly siloed. Slack needs to be highly configurable, but in doing so we believe Slack is the collaboration hub that brings all this together.”

Each company that wants to build in an integration — like Asana for task management or Zendesk for ticket management — works to create a new flow within the core Slack experience, which includes a new dropdown inside a message and a prompt to bake something into the chat flow. Once that happens, all that information is then ported over to the integration and created in the same way an employee would create it within that environment. If someone creates a Zendesk ticket through an action in Slack, Zendesk automatically generates the ticket on their side.

Slack has sprawled out over time, and especially as companies using it get larger and larger, the company has to figure out a way to show that it can remain a dead-simple app without turning into a bloated window filled with thousands of instant messages. Actions is one potential approach to that, where users can know from the get-go where to coordinate certain activities like equipment procurement or managing some customer information — and not have to go anywhere else.

The other advantage here is that it makes the destination for completing a task not necessarily a “what,” but also a “who.” Slack is leaning on its machine learning tool to make it easier and easier to find the right people with the right answers, whether those questions are already answered somewhere or they know who can get you the information right away. Actions is another extension here, as well, as users can get accustomed to going to certain coworkers with the intent of completing tasks — such as their IT head in their office that they walk by every morning on the way to grabbing coffee.

The company says it’s also working on what it’s calling the Block Kit, which integrates those tasks and other elements directly into the Slack chat flow in a way that looks a little more user friendly from a kind of visual sense. The idea here is, again, to create an intuitive flow for people that goes beyond just a simple chat app, but also offers some additional way of interactivity that turns Slack into a more sensible feed rather than just a window with people talking to each other. Actions are available from Jira, Bitbucket, Asana, Zendesk, HubSpot, and several others.

Actions is a tool that Slack is unveiling at its own developer conference, Spec, this morning. That in of itself is yet another example of Slack looking to graduate beyond just a simpler information feed that works well with smaller companies. Developers are often the ones that figure out the best niche use cases for any platform, as it means Slack can focus on trying to figure out how all these integrations fit into its design ethos. The company has to figure out how to convince larger companies that they need a tool like this and it won’t get out of hand, and also ensure that smaller companies don’t graduate into something a little more flexible that can serve those niche cases as they get larger.

To be sure, Slack is growing. The company said it hit 8 million daily active users with 3 million paid users earlier this month. That’s helped it quickly jump to a $5.1 billion valuation (as of its most recent funding round), and the company has been carefully rolling out tools that might make communication within larger companies a little easier — including the long-awaited launch of threads a little more than a year ago.

But Slack also faces increasing competition as time goes on, not only from the traditional companies looking to build more robust but simpler tools, but also from companies that have spent a lot of time working on collaboration tools and are now exploring communication. Atlassian’s opened up its communications platform Stride to developers in February this year. Microsoft, too continues to update its Teams product. Slack was able to expose pent-up demand for this kind of an approach, but it also has to defend that approach — and making it a little more flexible without feature-creeping is going to be its biggest challenge going forward.

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Rackspace acquires Salesforce specialist RelationEdge – TechCrunch

Rackspace today announced that it has acquired RelationEdge, a Salesforce implementation partner and digital agency. The companies did not disclose the financial details of the acquisition.

At first, this may sound like an odd acquisition. Rackspace is still best known for its hosting and managed cloud and infrastructure services, after all, and RelationEdge is all about helping businesses manage their Salesforce SaaS implementations. The company clearly wants to expand its portfolio, though, and add managed services for SaaS applications to its lineup. It made the first step in this direction with the acquisition of TriCore last year, another company in the enterprise application management space. Today’s acquisition builds upon this theme.

Gerard Brossard, the executive VP and general manager of Rackspace Application Services, told me that the company is still in the early days of its application management practice, but that it’s seeing good momentum as it’s gaining both new customers thanks to these offerings and as existing customers look to Rackspace for managing more than their infrastructure. “This allows us to jump into that SaaS management practice, starting with the leaders in the market,” he told me.

Why sell RelationEdge, a company that has gained some good traction and now has about 125 employees? “At the end of the day, we’ve accomplished a tremendous amount organically with very little funding,” RelationEdge founder and CEO Matt Stoyka told me. “But there is a huge opportunity in the space that we can take advantage of. But to do that, we needed more than was available to us, but we needed to find the right home for our people and our company.” He also noted that the two companies seem to have a similar culture and mission, which focuses more on the business outcomes than the technology itself.

For the time being, the RelationEdge brand will remain and Rackspace plans to run the business “with considerable independence under its current leadership.” Brossard noted that the reason for this is RelationEdge’s existing brand recognition.

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Parsable secures $40M investment to bring digital to industrial workers – TechCrunch

As we increasingly hear about automation, artificial intelligence and robots taking away industrial jobs, Parsable, a San Francisco-based startup sees a different reality, one with millions of workers who for the most part have been left behind when it comes to bringing digital transformation to their jobs.

Parsable has developed a Connected Worker platform to help bring high tech solutions to deskless industrial workers who have been working mostly with paper-based processes. Today, it announced a $40 million Series C cash injection to keep building on that idea.

The round was led by Future Fund with help from B37 and existing investors Lightspeed Venture Partners, Airbus Ventures and Aramco Ventures. Today’s investment brings the total to nearly $70 million.

The Parsable solution works on almost any smartphone or tablet and is designed to enter information while walking around in environments where a desktop PC or laptop simply wouldn’t be practical. That means being able to tap, swipe and select easily in a mobile context.

Photo: Parsable

The challenge the company faced was the perception these workers didn’t deal well with technology. Parsable CEO Lawrence Whittle says the company, which launched in 2013, took its time building its first product because it wanted to give industrial workers something they actually needed, not what engineers thought they needed. This meant a long period of primary research.

The company learned, it had to be dead simple to allow the industry vets who had been on the job for 25 or more years to feel comfortable using it out of the box, while also appealing to younger more tech-savvy workers. The goal was making it feel as familiar as Facebook or texting, common applications even older workers were used to using.

“What we are doing is getting rid of [paper] notebooks for quality, safety and maintenance and providing a digital guide on how to capture work with the objective of increasing efficiency, reducing safety incidents and increasing quality,” Whittle explained.

He likens this to the idea of putting a sensor on a machine, but instead they are putting that instrumentation into the hands of the human worker. “We are effectively putting a sensor on humans to give them connectivity and data to execute work in the same way as machines,” he says.

The company has also made the decision to make the platform flexible to add new technology over time. As an example they support smart glasses, which Whittle says accounts for about 10 percent of its business today. But the founders recognized that reality could change and they wanted to make the platform open enough to take on new technologies as they become available.

Today the company has 30 enterprise customers with 30,000 registered users on the platform. Customers include Ecolab, Schlumberger, Silgan and Shell. They have around 80 employees, but expect to hit 100 by the end of Q3 this year, Whittle says.

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Dashdash, a platform to create web apps using only spreadsheet skills, nabs $8M led by Accel – TechCrunch

Sometimes I think of spreadsheets as the dirty secret of the IT world today. We’ve seen a huge explosion in the number of productivity tools on the market tailored to help workers with different aspects of doing their job and organising their information, in part to keep them from simply dumping lots of information into Excel or whatever program they happen to use. And yet, spreadsheets are still one of the very, very most common pieces of software in use today to organise and share information: Excel alone now has around 1 billion users, and for those who are devotees, spreadsheets are not going to go away soon.

So it’s interesting that there are now startups — and larger companies like Microsoft — emerging that are tapping into that, creating new services that still appear like spreadsheets in the front end, while doing something completely different in the back.

One of the latest is a startup called dashdash, a startup out of Berlin and Porto that is building a platform for people, who might to be programmers but know their way around a spreadsheet, to use those skills to build, modify and update web apps.

The dashdash platform looks and acts like a spreadsheet up front, but behind the scenes, each ‘macro’ links to a web app computing feature, or a design element, to build something that ultimately will look nothing like a spreadsheet, bypassing all the lines of code that traditionally go into building web apps.

The startup is still in stealth mode, with plans to launch formally later this year. Today, it’s announcing that it has received $8 million in Series A funding to get there, with the round being led by Accel, with participation from Cherry Ventures, Atlantic Labs, and angel investors including Felix Jahn, founder of Home24. (It’s raised $9 million to date including a $1 seed.)

Co-founded by serial entrepreneurs Humberto Ayres Pereira and Torben Schulz — who had also been co-founders of food delivery startup EatFirst — Ayres Pereira said that the idea came out of their own observations in work life and the bottleneck of getting things fixed or modified in a company’s apps (both internal and customer-facing).

“People have a lot of frustration with the IT department, and their generally access to it,” he said in an interview. “If you are part of an internet business, it’s very hard to get features prioritised in an app, no matter how small they are. Tech is like a big train on iron tracks, and it can be hard to steer it in a different direction.”

On the other hand, even among the less technical staff, there will be proficiency with certain software, including spreadsheets. “Programming and spreadsheets already store and transform data,” Ayers Pereira said. “There are already a lot of people trying to do more with incumbent spreadsheets, and [combining that with] non-IT people frustrated at having no solution for working on apps, we saw an opportunity to use this to build an elegant platform the empower people. We can’t teach people to program but we can provide them with the tools to do the exact same job.”

While in stealth mode, he said that early users have ranged from smaller businesses such as pharmacies, to “a multi-billion-dollar internet company.” (No names, of course, but it’s interesting to me that this problem even exists at large tech businesses.)

Dashdash is not the only company that is tapping this opportunity. The other week, and IoT startup called Hanhaa launched a service that would let those using Hanhaa IoT sensors in their networks to monitor and interact with them by way of an Excel spreadsheet — another tip of the hat to the realisation that those who might need to keep tabs on devices in the network might not be the people who are the engineers and technicians who have set them up.

That, in turn, is part of a bigger effort from Microsoft to catapult Excel from its reputation as a piece of clunky legacy software into something much more dynamic, playing on the company’s push into cloud services and Office 365.

In September of 2017, Microsoft gave a developer preview of new “streaming functions” for Excel on Office 365, which lets developers, IT professionals and end users the ability to bring streams of data from a variety of sources such as websites, stock tickers and hardware directly into a cell or cells in an Excel spreadsheet, by way of a custom function. “Because Excel is so widely used and familiar to so many people, the ability to do all kinds of amazing things with that data and without complex integration is now possible,” said Ben Summers, a senior product manager for the Office 365 ecosystem team, in a statement to TechCrunch.

That ability to remove the bottleneck from web app building, combined with the track record of the founders, are two of the reasons that Accel decided to invest before the product even launched.

“We believe in dashdash’s mission to democratise app creation and are excited to back Humberto and Torben at such an early stage in their journey,” said Andrei Brasoveanu, the Accel principal who led the deal. “The team has the experience and vision to build a high-impact company that brings computing to the fingertips of a broad audience. Over the past decade we’ve seen a proliferation of web services and APIs, but regular business users still need to rely on central IT and colleagues with development skills to leverage these in their day-to-day processes. With dashdash anyone will be able to access these powerful web services directly with minimal effort, empowering them to automate their day to day tasks and work more effectively.”

With every tool that emerges that frees up accessibility to more people — be they employees or consumers — there are inevitably questions about how that power will be used. In the case of dashdash, my first thought is about those who I know who work in IT: they generally don’t want anyone able to modify or “fix” their code, lest it just creates more problems. And that’s before you start wondering about how all these democratised web apps will look, and if they might inadvertently will add to more overall UI and UX confusion.

Ayres Pereira said dash dash is mindful of the design question, and will introduce ways of helping to direct this, for example for companies to implement their own house styles. And similarly, a business can put in place other controls to help channel how webapps created through dashdash’s spreadsheet interface ultimately get applied.

 

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Aircall raises another $29 million – TechCrunch

French startup Aircall has raised a founding round of $29 million for its cloud based call center solution. Draper Esprit led the round with NextWorld Capital, Balderton Capital and Newfund also participating.

The company has raised $40.5 million in total. Aircall participated in the Startup Battlefield at TechCrunch Disrupt SF a few years ago. The company first started at eFounders.

Aircall is following the software-as-a-service playbook. First, you take a boring industry like phone systems for large support and sales teams. Second, you bet everything on software. And third, you keep adding new features and integrations, and chasing new customers.

The company now has two offices in New York and Paris and handles millions of calls every day. With today’s funding round, the company plans to hire more people in both offices.

When you sign up to Aircall, you get virtual phone numbers in one or multiple countries. You can then configure a greeting message, add business hours and handle your call queue.

But the magic happens when you have multiple people handling sales or support calls. When someone calls, it can call multiple people at once or call someone first, then a second person if the first person isn’t available, etc. You get an overview of all your calls so you can assign them, tag them and more.

Aircall doesn’t work in a vacuum. So you can integrate Aircall with CRMs and other solutions like Salesforce, Zendesk and Zoho. The startup also launched a deep integration with Intercom that lets you switch from a text conversation to a phone call from the popup window.

It’s hard to list all the features right here. But chances are that if you’re running a call center, you’ll have everything you need for your team. Aircall currently costs $30 to $50 per user and per month to access all of this.

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Auth0 snags $55M Series D, seeks international expansion – TechCrunch

Auth0, a startup based in Seattle, has been helping developers with a set of APIs to build authentication into their applications for the last five years. It’s raised a fair bit of money along the way to help extend that mission, and today the company announced a $55 million Series D.

This round was led by led by Sapphire Ventures with help from World Innovation Lab, and existing investors Bessemer Venture Partners, Trinity Ventures, Meritech Capital and K9 Ventures. Today’s investment brings the total raised to $110 million. The company did not want to share its valuation.

CEO Eugenio Pace said the investment should help them expand further internationally. In fact, one of the investors, World Innovation Lab, is based in Japan and should help with their presence there. “Japan is an important market for us and they should help explain to us how the market works there,” he said.

The company offers an easy way for developers to build in authentication services into their applications, also known as Identification as a Service (IDaaS). It’s a lot like Stripe for payments or Twilio for messaging. Instead of building the authentication layer from scratch, they simply add a few lines of code and can take advantage of the services available on the Auth0 platform.

That platform includes a range of service such as single-sign on, two-factor identification, passwordless log-on and breached password detection.

They have a free tier, which doesn’t even require a credit card, and pay tiers based on the types of users — regular versus enterprise — along with the number of users. They also charge based on machine-to-machine authentication. Pace reports they have 3500 paying customers and tens of thousands of users on the free tier.

All of that has added up to a pretty decent business. While Pace would not share specific numbers, he did indicate the company doubled its revenue last year and expected to do so again this year.

With a cadence of getting funding every year for the last three years, Pace says this round may mark the end of that fundraising cycle for a time. He wasn’t ready to commit to the idea of an IPO, saying that is likely a couple of years away, but he says the company is close to profitability.

With the new influx of money, the company does plan to expand its workforce as moves into markets across the world . They currently have 300 employees, but within a year he expects to be between 400 and 450 worldwide.

The company’s last round was a $30 million Series C last June led by Meritech Capital Partners.

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MemSQL raises $30M Series D round for its real-time database – TechCrunch

MemSQL, a company best known for the real-time capabilities of its eponymous in-memory database, today announced that it has raised a $30 million Series D round, bringing the company’s overall funding to $110 million. The round was led by GV (the firm you probably still refer to as Google Ventures) and Glynn Capital. Existing investors Accell, Caffeinated Capital, Data Collective and IA Ventures also participated.

The MemSQL database offers a distributed, relational database that uses standard SQL drivers and queries for transactions and analytics. Its defining feature is the combination of its data ingestions technology that allows users to push millions of events per day into the service while its users can query the records in real time. The company recently showed that its tools can deliver a scan rate of over a trillion rows per second on a cluster with twelve servers.

The database is available for deployments on the major public clouds and on-premises.

MemSQL recently announced that it saw its fourth-quarter commercial booking hit 200 percent year-over-year growth — and that’s typically the kind of growth that investors like to see, even as MemSQL plays in a very competitive market with plenty of incumbents, startups and even open source projects. Current MemSQL users include the likes of Uber, Akamai, Pinterest, Dell EMC and Comcast.

“MemSQL has achieved strong enterprise traction by delivering a database that enables operational analysis at unique speed and scale, allowing customers to create dynamic, intelligent applications,” said Adam Ghobarah, General Partner at GV, in today’s announcement. “The company has demonstrated measurable success with its growing enterprise customer base and we’re excited to invest in the team as they continue to scale.”

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Xage introduces fingerprinting to protect industrial IoT devices – TechCrunch

As old-school industries like oil and gas increasingly network entities like oil platforms, they become more vulnerable to hacking attacks that were impossible when they were stand-alone. That requires a new approach to security and Xage (prounounced Zage), a security startup that launched last year thinks it has the answer with a concept called ‘fingerprinting’ combined with the blockchain.

“Each individual fingerprint tries to reflect as much information as possible about a device or controller,” Duncan Greenwood, Xage’s CEO explained. They do this by storing configuration data from each device and controller on the network. That includes the hardware type, the software that’s installed on it, the CPU ID, the storage ID and so forth.

If someone were try to inject malware into one of these controllers, the fingerprint identification would notice a change and shut it down until human technicians could figure out if it’s a legitimate change or not.

Whither blockchain?

You may be wondering where the blockchain comes into this, but imagine a honey pot of these fingerprints were stored in a conventional database. If that database were compromised, it would mean hackers could have access to a company’s entire store of fingerprints, completely neutering that idea. That’s where the blockchain comes in.

Greenwood says it serves multiple purposes to prevent such a scenario from happening. For starters, it takes away that centralized honey pot. It also provides a means of authentication making it impossible to insert a fake fingerprint without explicit permission to do so.

But he says that Xage takes one more precaution unrelated to the blockchain to allow for legitimate updates to the controller. “We have a digital replica (twin) of the system we keep in the cloud, so if someone is changing the software or plans to change it on a device or controller, we will pre-calculate what the new fingerprint will be before we update the controller,” he said. That will allow them to understand when there is a sanctioned update happening and not an external threat agent trying to mimic one.

Checks and balances

In this way they check the validity of every fingerprint and have checks and balances every step of the way. If the updated fingerprint matches the cloud replica, they can be reasonably assured that it’s authentic. If it doesn’t, he says they assume the fingerprint might have been hacked and shut it down for further investigation by the customer.

While this sounds like a complex way of protecting this infrastructure, Greenwood points out that these devices and controllers tend to be fairly simple in terms of their configuration, not like the complexities involved in managing security on a network of workstations with many possible access points for hackers.

The irony here is that these companies are networking their devices to simplify maintenance, but in doing so they have created a new set of issues. “It’s a very interesting problem. They are adopting IoT, so they don’t have to do [so many] truck rolls. They want that network capability, but then the risk of hacking is greater because it only takes one hack to get access to thousands of controllers,” he explained.

In case you are thinking they may be overstating the actual problem of oil rigs and other industrial targets getting hacked, a Department of Homeland Security report released in March suggests that the energy sector has been an area of interest for nation-state hackers in recent years.

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