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The 2006 10 Start-ups To Watch
April 24, 2006
Courtesy of Network World
What does the company offer?
Elemental Security Platform (ESP), a policy-based application aimed at integrating traditionally discrete areas such as network access control, configuration management and compliance management.
Why is it worth watching?
Elemental Security is on a course to unify compliance requirements and system security. Its ESP combines traditional security features with policy-based computing - which is associated more often with user activity than with monitoring gear. With ESP, companies can use a single application to define policies, monitor hardware and users for noncompliance with those policies, and take action against unsecured devices.
Driving the platform is Fuel, a scripting language for policy writing developed by the creator of the Python language, Guido van Rossum. Fuel lets users outline security policies using familiar terms that match those used in corporate policy documents. For example, a user could express a policy such as "Only users in the finance department can connect to SAP ERP servers," and ESP translates that simple phase to something understood by corresponding directory systems, applications and hardware.
ESP relies on agents to monitor devices on a network, and a dashboard keeps tabs on compliance with active security policies.
Elemental's biggest challenge is the size of its competition, which includes network and security vendors such as Cisco and Symantec, as well as management players such as CA and IBM, which are working to provide similar capabilities in integrated product suites. So far, so good. Since releasing its first product in April 2005, Elemental Security has increased its customer base to more than 30 companies and signed 10 channel partners. The company expects to generate $6 million in sales this year.
Quick HITS:
Founded: December 2002
Funding: $21 million
CEO: Peter Watkins
Customers: Aegon Insurance, Catholic Health Systems, John Wiley & Sons, Purdue University, Shutterfly
The name: Describes the vendor's goal of providing a solid foundation and essential building blocks for enterprise security.
How did the company get its start?
Technologist Dan Farmer and executive Dayne Myers co-founded Elemental Security in December 2002 to help corporations more easily implement and monitor policy-based computing. Farmer, who is CTO, co-authored various security tools, including SATAN. Myers, who had been CEO and is now a board member, has a long history in private equity, management consulting and executive management.
Who's leading the company?
Peter Watkins, former entrepreneur-in-residence at Bessemer Venture Partners, as CEO.
How much funding does it have?
$21 million, including an $11 million third round closed in June 2005 and led by Lehman Brothers Venture Partners.
Who's using the product?
30-plus customers, including Aegon Insurance, Catholic Health Systems, John Wiley & Sons, Purdue University and Shutterfly.
How did the company get its name?
"Elemental" describes the vendor's goal of providing a solid foundation and essential building blocks for enterprise security.