About 70 percent of the companies are vulnerable, partly because they are either not aware-hence haven’t got their systems assessed, or are not adequately protected, says Lovepreet Singh, CEO, Five Rivers Security.
Mr. Singh who is associated with Five Rivers Security that specialises in securing the IT network infrastructure and data assets, believes that companies globally are subjected to increasing threats of data breach, and Indian companies are equally vulnerable.
For instance, in 2019, more than 1.3 million credit and debit card details from Indian banks were breached, Facebook users’ passwords were found exposed and Twitter too had its trouble facing data leak, added Mr. Singh.
JustDial also struggled with securing the data of its users. These among other examples clearly suggest the need for a cyber-security solution that comprehensively addresses security auditing, vulnerability assessment and testing to secure corporate networks and data assets, said Lovepreet Singh.
About Five Rivers Solutions/Securities
Five Rivers Security specializes in securing the IT network infrastructure and data assets of prominent Enterprises, Governments’ organisations & departments, PSUs, etc. globally, including some of the Fortune 500 companies. Five Rivers Security protects $1 Trillion transactions every year through its Artificial intelligence (AI) based Vulnerability Management Platform ESOF (Enterprise Security in One Framework).
Currently, the company works with more than 150 global clients and partners including HDFC Limited, Bharti Airtel, Reliance Industries, National Payments Corporation of India and NSDL apart from various government agencies.
Lovepreet envisions to make Five Rivers Security the sole leader in the vulnerability management sector in India within the next three to five years. According to him, Five Rivers Solution is aiming to become a company which can cater to all consumer needs in the cybersecurity space. “We want to make Five Rivers Security, the Google of cybersecurity. Whatever you need for cybersecurity, we will have it.”
“Currently, vulnerability management market is a $11 billion opportunity across the globe. So in the next three to five years, we plan to capture 5 per cent of it,” Mr. Singh said.
From products standpoint, Five Rivers revealed his plans to work using machine learning and also come up with the product in the human security segment within one year. “People are also extremely vulnerable to cyberattacks, so we will come up with a solution to deal with this,” Mr. Singh added.
Apart from this, Five Rivers Security is also looking at geographical expansion. The company entered the US market in 2018. “We are building our product engineering team in Silicon Valley. So there are a few people now in the Silicon Valley, but we are hiring more people and placing them out there,” Mr. Singh said. The company is also looking to expand its operations in Africa before the current financial year comes to an end.