OAKLAND, Calif., Oct. 23, 2019 /PRNewswire/ -- CryptoMove, the first and only data security platform to provide moving target defense (MTD) for microservices and multi-cloud, has been chosen as a winner of the SINET 16 Innovation Competition for the impact on the field of data security.
SINET is a community that links the public and private sectors to promote collaboration and advance the development and adoption of dynamic cybersecurity technology. Its Judging Committee is composed of over 100 experts including CEOs, CTOs, and CISOs from companies including Goldman Sachs, IBM, the Boston Consulting Group, and Cisco. The Committee also features numerous officials from the government and the defense sector as well as partners of successful tech-focused venture capital firms. These experts evaluated over 161 applicants from 18 countries based on their technology, company fundamentals, market need, and potential impact.
The SINET 16 recognizes 16 emerging leaders in the data security field. CryptoMove was chosen because of its game-changing MTD solution for secure data storage. This patented technology utilized by CryptoMove keeps data fragmented and constantly moving, radically reconfiguring the attack surface to stymie potential threats, including those posed by quantum computing. This solution can be used to defend any type of data including files, videos, API keys, access tokens, and real-time communications. It has been successfully deployed in extensive use cases ranging from personal files to multi-cloud DevOps teams to military drone operations.
"CryptoMove is honored to receive this award from an organization like SINET that spans so many stakeholders in this field," said CryptoMove CEO Mike Burshteyn. "It's exciting to have independent experts and thought leaders recognize the potential of moving target defense and highlight CryptoMove as an innovation leader."
In November, CryptoMove will present a demonstration of its technology at the SINET Showcase in Washington, D.C. Attendees of the showcase include representatives from government agencies, venture capital, and a wide range of industries that are confronting diverse data security threats and have a heightened urgency to identify and implement cutting-edge solutions.
"There is a critical need for new approaches to data security, and MTD provides the paradigm shift that so many organizations are looking for," Burshteyn said. "From the C-suite to developers to the general public, we've found incredible enthusiasm for the protection offered by MTD. There's a growing awareness that stationary targets and traditional encryption are vulnerable, especially as we move toward quantum computing. As a result, decision-makers in all types of organizations are excited about the advantages of moving target defense."
The SINET 16 Innovation Award follows another important recognition in July when CryptoMove was chosen as one of the most promising technologies for the United States Air Force (USAF) Multi-Domain Operations Challenge run by AFWERX, a USAF program to encourage rapid adoption of high-impact technologies. The company has seen rapid growth in users of CryptoMove and last month launched a Chrome Browser Extension that allows anyone to protect passwords and other sensitive data shared across the web, including through email and social media channels such as Gmail, Slack and Outlook.
CryptoMove provides moving target data protection solutions for microservices and multi-cloud. Our cloud-native Key Vault becomes more robust with scale to simplify secrets management for modern DevOps workflows. Powered by the world's first data protection platform to utilize globally patented moving target defense (MTD) principles for entropy and randomness, our B2B and B2C clients can manage their secrets seamlessly, integrate with their core business systems programmatically, and achieve unparalleled data security to avoid detection by attackers. CryptoMove use cases have been developed by leading institutions, including the Department of Homeland Security (DHS) via its Silicon Valley Innovation Program, the Air Force via AFWERX, and the National Institute of Standards and Technology (NIST) via its Global Smart Cities Challenge. Users of CryptoMove include Fortune 500 financial services, insurance, technology, healthcare, entertainment, and other organizations. In 2018, CryptoMove was selected by Amazon as one of the top ten startups showcased during AWS re:Invent and in 2019, CryptoMove was named to the SINET 16 for the impact of moving target defense on data security. CryptoMove is backed by top-tier VCs including Social Capital, Tim Draper's Draper Associates fund, Pathbreaker Ventures, and Red Dog Capital. Angel investors include Google's CISO as well as founders, security leaders, and early investors from Palantir, FireEye, Palo Alto Networks, Facebook, Cisco, and others. CryptoMove is headquartered in Oakland, California. For more information, visit https://www.cryptomove.com/.