The Home of the Security Bloggers Network
Home » Cybersecurity » CISO Suite »
2022 was defined by change and crisis. The year started with glimmers of post-pandemic hope before the war and widespread inflation turned everything upside down.
Through this mess, Balbix had to maneuver and execute. Our list of 2022 accomplishments is long: new logos, revenue growth, multi-million-dollar contracts, a growing list of partners, 100+ new platform features, a $70M Series C funding round, 50% team growth, and awards. Pipeline, pre-sales and customer activity metrics are all 10x from a year ago. We ended the year with 20+ of the Fortune 100 in Balbix sales cycles (plus four as paying customers).
This post is not about reflecting and feeling good about Balbix’s 2022 accomplishments. This post is about lessons learned in 2022 from our customers’ experiences with cybersecurity posture automation. And about the quantified value we deliver to our customers (more on this in a bit).
As 2023 dawns, CFOs are scrutinizing cybersecurity spending like never before. Regulators have gone activist. If your job as CISO was not already impossible, you and your security colleagues now have a new headache – to do more with less. You have to find efficiency and consolidation opportunities and demonstrate the ROI of your investments. You also have new regulatory requirements to meet. We believe that some of these ideas might help with CISO Mission 2023.
Unless you have just discovered Balbix, you know why we exist: The cybersecurity landscape continues to explode in complexity. Organizations are spending millions on cybersecurity, and yet they keep getting breached. CISOs have mountains of data from tools but need actionable insights about overall cyber risk. Security teams struggle to identify, prioritize and fix vulnerabilities before the bad guys can exploit them. It is challenging to know which initiatives and tactics reduce risk vs. those that do not work. Assuring compliance is increasingly hard. Analyzing and improving cybersecurity posture is not a human-scale problem anymore! In 2022 we saw this insight resonate with hundreds of global prospects and drove many companies to adopt Balbix as “the brain of their infosec programs”.
It is always good to drill down from abstract terms like “the brain of our cybersecurity operations” to specifics. So, we asked CISOs and cybersecurity professionals in our customer base to provide their feedback on the value ROI of Balbix. A few CFOs, CIOs and board members also chimed in.
Let’s take a look at the numbers.
From our customers’ perspective, Balbix enables them to deliver a maximally automated cybersecurity posture, with cost savings and lower cyber risk. The value they derive from Balbix falls into the following six areas. 
As I have written before, cybersecurity is now a data science and automation problem. It’s no longer ok to tolerate incomplete or inaccurate visibility or do guesswork-driven prioritization of vulnerabilities and projects. Using your tools in siloes, doing monthly or quarterly scans, patching SLAs of 90 days, scoring risks in 3 colors on scales of 1-100 and using Excel to manually put together your board reports — these techniques have been obsolete for a few years.
Your organization needs to maximally automate cybersecurity posture. You also need real-time insights from your data to inform your team and tools. You need to gamify risk management. There is no other way!
With Balbix, you can answer thousands of questions that come up as your security and risk management colleagues go about their daily work. Balbix’s search allows you to define a query using the vocabulary of cybersecurity, IT, business tags/names and cyber risk- think Google for cybersecurity! These queries define dynamic groups which can then be dashboarded, assigned to owners, used for reporting and triggering workflows.
In 2023, these capabilities will provide you with crucial opportunities for saving money and for increased productivity.
Cybersecurity posture automation powered by data science opens up a new world of self-defending, highly resilient enterprise networks where attacks are limited in both time and space. One thing is certain: my Balbix colleagues and I will strive to make moving to this brave new world a great experience for our customers.
We designed Balbix for the challenges of 2023, and this is your opportunity to seize.
2022 was an incredible year for cybersecurity posture automation. We thank our customers and partners for their trust in Balbix and for continued collaboration! We are also very thankful to our board members, advisors, investors and shareholders for their continuing support and advise.
SCHEDULE A 30 MIN PRESENTATION
*** This is a Security Bloggers Network syndicated blog from Blog – Balbix authored by Gaurav Banga. Read the original post at: https://www.balbix.com/blog/reflections-on-a-crazy-2022-and-some-thoughts-on-ciso-mission-2023/
Gaurav Banga is the Founder and CEO of Balbix, and serves on the boards of several companies. Before Balbix, he co-founded and served as CEO of Bromium for more than 5 years. Earlier in his career, he served in various executive roles at Phoenix Technologies and Intellisync Corporation, and was Co-founder and CEO of PDAapps (acquired by Intellisync in 2005). Gaurav started his industry career at NetApp. He holds a PhD in CS from Rice University, a B.Tech. in CS from IIT Delhi and is a prolific inventor with more than 50 patents.
gaurav-banga has 27 posts and counting.See all posts by gaurav-banga
More Webinars 
Step 1 of 6