December 18, 2020
What started out as a tool to map social media use around a Canadian university campus has evolved into some of the most advanced, real-time digital threat intelligence software available. And the company behind it, Echosec Systems, now counts some of the most influential organizations in the world as customers, providing them with tools and services that make hidden online data more accessible and actionable.
When Echosec Systems joined the Wesley Clover International ecosystem as an Alacrity Canada portfolio company, the team was supported with hands-on entrepreneurial mentorship through their early growth stages. Applications for the new security software were various, however, the company listened to their early customers and their concerns about an emerging new realm of exposure – the dark web.
“You need the confidence to say ‘no’ to certain ideas and to drill down and keep going on the best ones”, said Paula Hingley, Director of Marketing at Echosec. “The deeper you go into a particular niche, the more mature you become in that space. This led us to develop something unique and highly valuable.”
This focus, trust and hard work paid off. Echosec Systems has seen 100 percent year-over-year business growth and tripled its employee base over the last twenty-four months. Their software has evolved to help businesses navigate the hidden corners of the internet to discover and respond to digital and physical threats. The tools enable businesses to access billions of online posts from social media channels, news feeds and discussion forums, including the dark web, for real time analysis and assessment.
Just one click takes investigators – such as in-house security teams, intelligence agencies or governments – from a Twitter account profile to a dark web forum and beyond. This seamless transition becomes increasingly important as cyber attacks and data breaches continue to rise. This past month alone, Echosec tracked 30 million social media posts and 10 million dark web posts in their database.
As such threats increase, so does the value of defensive tools from threat intelligence technology companies. And as a result, in a US private equity deal, Echosec Systems has now taken the next step in their corporate growth journey and been acquired by the California-based firm, The Tusker Fund. From start-up to exit, this is the latest Alacrity and Wesley Clover success story, owing to strong leadership and guidance, and the confidence to focus on what customers are asking for.
What is next for the company? The team plans to reinforce its operations in the US and the UK and continue to grow by enhancing its engineering capabilities and strengthening its customer success services.
To learn more about Echosec Systems, visit echosec.net.
Wesley Clover invests in a range of technology companies, and they bring impressive innovation to markets and clients around the globe. I/O is our way of sharing some of the best insights. I trust you will enjoy them.
Terry Matthews, Chairman