Amid cybersecurity boom, Boca startup Securily sees major growth

By Riley Kaminer

$2 trillion. That’s the addressable market McKinsey sees for cybersecurity technology and service providers. (For context, that’s more than the GDP of Canada or Brazil.) 

The story behind these big figures, in short, is that cybersecurity is on the rise. An increasingly digital-first way of working, coupled with rapidly-advancing innovations like AI, has created an environment where cybercrime can thrive. 

And SMBs are far from immune from these attacks: in fact, 61% of cyberattack targets are SMBs – a figure that rises to 82% when we’re talking about ransomware attacks. For early-stage companies, cyberattacks can be life or death.

Enter Boca Raton-based Securily. The company is developing a better way of doing penetration testing (pentesting for short). 

Pentesting is essentially a controlled cyberattack on a computer system to find weaknesses in its security. It’s like hiring a security expert to try to break into your house to see how well-protected it is. The problem: pentests are a snapshot in time. 

Co-founder husband-wife duo Cariel Cohen and Orit Benzaquen, CTO and CEO, respectively, have developed a dynamic solution that helps companies know where their security stands in real time. “We’re giving dynamic visibility, whereas penetration tests used to be a static report,” Benzaquen told Refresh Miami

After completing the automated onboarding process, Securily begins running automatic scans. Within a week of signing on the dotted line, Securily organizes a manual pentest as well.

“The platform gathers dynamic information about their infrastructure,” added Cohen. “The penetration test is manually conducted by a certified tester. As the tester performs various tests, the results are uploaded to the platform and analyzed using AI. This process correlates all the information, including automated scans without manual testing, providing the customer with a comprehensive view of their application security.”

Securily’s clients run the gamut from companies in fintech, HR tech, EdTech, healthtech, and more. Their customers are global, primarily in the U.S., Latin America, and Europe. Since fully launching in November 2022, Securily has tripled its revenue and grown its customer base ten-fold.

Part of what makes Securily’s service so attractive to clients is that it brings them one step closer to compliance with industry standards such as SOC2. This is especially important for smaller companies, which need to prove that they are secure before they start selling to big businesses. 

“These large enterprises know that they’re adding a link to their chain, and they are only as strong as their weakest link,” said Benzaquen, emphasizing that as many as 98% of hacks originate from vendors.

Securily currently has four employees, three of whom are based in South Florida. The company is currently raising its first priced round, seeking $3 million in seed funding. Previously, Securily was primarily bootstrapped, barring a handful of angel investments (including Alex Ionescu from CrowdStrike) and the $150,000 they received by taking part in Google for Startups.

Benzaquen and Cohen have recently gone through Endeavor Miami’s EndeavorLAB program. “It was a lifesaver for us,” said Cohen. “It’s like getting a large headlight on your car because they give us so many insights into everything from market strategies to investor strategies and more.”

Looking forward, Securily says that we can expect to see the platform further develop, including some AI-powered tools. A partnership with cybersecurity learning platform HackRocks will also bring more pentesting talent to Securily’s team.

Photo at top of post: Securily team, from left to right: Haily Ruff, Customer Service Representative, CEO Orit Benzaquen, CTO Cariel Cohen.

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Riley Kaminer