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Cybercrime in numbers
After two Event-Tips, the 27th episode of the Munich Startup Podcast is about cybercrime. We start at minute 2:05 with Figures from the BKA: In 2019, 100,514 cases were recorded by the police, and one year later, the number had risen to 108,474. This represents an increase of just over 8 percent. The clearance rate in 2020 was 32.6 percent, compared to 40.3 percent in 2017. A closer look, however, reveals that the number of solved cases has not increased significantly in years, while the absolute number of cases continues to rise.
The topic of cybersecurity has also been a major focus of media coverage in recent months. For example, the case of the American pipeline operator Colonial Pipeline attracted attention. The company had fallen victim to criminals who had encrypted Colonial's systems with their malware, rendering them unusable. Ultimately, the company paid 4.4 million dollars to the blackmailers. The supermarket chain Coop in Sweden also fell victim to such a ransomware attack. However, the company refused to pay and spent about a week trying to get its systems back up and running.
And further reports are likely: The attack on Coop was based on an attack on the software company Kaseya, whose product the retail group uses. Speaking to the AP news agency The Kaseya CEO explains that the networks of 50 to 60 customers could be affected, the majority of whom are IT service providers who in turn protect the networks of smaller companies.
Defending against such threats is therefore of enormous importance for every company – and therefore represents a large market. Bitkom estimates a turnover of 5.2 billion euros for Germany alone in 2020, 5.6 percent more than in 2019. Worldwide, according to Gardener Last year it was $133.8 billion, this year it is expected to reach $150 billion, which corresponds to growth of 12 percent.
Cybersecurity: Detect or simulate attacks
Of course, Munich startups are also part of this market, such as Myra SecurityFounded in 2012, the company offers a certified Security-as-a-Service platform for protecting digital business processes. The technology is designed to filter potentially harmful internet traffic and offers DDoS protection for networks, data transmission, and applications. You can find out who is behind the startup and who its customers are starting at minute 5:40.
For situations where an attack is not a problem but explicitly desired, the next startup offers its services. Requestee (from minute 7:20) aims to significantly simplify the process of booking pentesting firms with its all-in-one platform. Pentesting involves commissioning an ethical hacker, also known as a white hat, to hack your network. If the hack is successful, the company receives a detailed report so it can close the identified security vulnerabilities.
This pentesting can also be automated, as Crashtest Security The startup has developed an automated vulnerability analysis for web apps and APIs. This is supposed to identify security gaps such as command injection vulnerabilities much faster than a manual tester can. You can hear more about the startup starting at minute 9:20.
A new type of security structure
The last cybersecurity startup in this episode is attempting to rethink security structures themselves. Until now, many security systems have centered around a firewall that essentially seals off the internal network from the outside. Anyone who manages to overcome the firewall then has almost unhindered access to all systems within the network. Qbound (from minute 11:25) therefore relies on the zero-trust principle, which requires authorization every time data, systems, or devices are accessed. The startup has already impressed numerous incubators and accelerators with its solution.
The crash test security investor Soleria Capital
From minute 12:50 we take a look at the investor Soleria CapitalThe Munich-based venture capital firm is best known for its role as lead investor in Crashtest Security's Series A. However, it has not yet made any further investments in the Munich ecosystem. Its primary focus is on energy and climate change, but it has also financed software and healthtech startups.
