Founder Stories Vol. 01 with Aiculus
Aiculus has been awarded the Australia Cybersecurity Scale-Up Of the Year 2021. A digitally savvy firm that uses API security solutions to respond to API security threats in real-time. Vanessa Sunassee, the Cybersecurity Lead, and Dr Wilson Alberto Torres give a deeper insight into what Aiculus does.
What does Aiculus do?
Founded in 2017, we provide cybersecurity consultancy services specialising in API security.
We help organisations by increasing their security, privacy, and visibility of operational API to prevent breaches. We see what we are doing is important and relevant to the current technology ecosystem.
What are your solutions for your customers?
We use AI techniques such as machine learning and deep learning at Aiculus. These solutions enable us to perform behavioural analytics and provide adaptive risk assessment in real-time.
We have a process of engaging with customers where we help them understand the API ecosystem. We study their infrastructure for which API is relevant and help them with an inventory of API's to have visibility.
Then, we dive into the intelligence work where we perform a physical analysis to determine how well the solutions work, added Wilson, who explained the process in-depth.
How is Aiculus unique?
Being at a startup, the more skills you bring to the table, the better it is for the company to scale up.
We have people from different professional backgrounds and experiences that add value to the organisation.
The combination of skills and the communication that we have as a team helps us deliver a better solution for our customers.
How do you obtain your funding?
We raised seed funding from venture capital in Singapore. In terms of revenue streams, we have been approached by global investors who are willing to invest capital to support our vision and create robust API security within the Asia-pacific region.
The cyber security industry is booming and is a $150 billion market. From an investor perspective, the ROI seems promising. We are preparing for the next round of funding in the next few months.
We also get revenue by providing cybersecurity consultancy for small and medium organisations in Australia and Singapore.
We generate revenue by selling our products to fintech, legal tech companies, and alike organisations dealing with sensitive API operations.
What are the challenges you've faced, and how do you overcome them?
We need to gain the trust and credibility of customers in working with us. We tackle this challenge by gaining security certifications which gives more confidence to our customers that work with us.
Technology is always evolving, and to cope with the new technology, we need to think about how we can evolve and be creative with our products. In terms of R&D, we attend academic conferences and study research papers to understand the technology of the future.
What is the advice you would give fellow entrepreneurs?
Vanessa: When we look at the ever changing environment, it is important to be spontaneous and seize the opportunities that are lying out there. We scaled up during the pandemic and did not let that deter our strategy and plan.
Strategic partnerships with bigger organisations are also important. That has personally allowed Aiculus to expand geographically.
Wilson: I believe that networking is key. You need to make connections within the community and learn about the professionals in your industry.
It is also vital to be up to date with the current technology. We are connected to a digital age, and it is important to develop these tech savvy skills via courses and information on the internet. Keep upgrading your skills to gain confidence and stand out from the crowd.