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Nov 21, 2024, 07:57 ET
- For the past 20 years, RSA Conference has anointed the next generation of cybersecurity startups through its Innovation Sandbox competition, where more than 100 new startups compete annually.
- Starting in 2025, the RSAC Innovation Sandbox Top 10 Finalists will each receive a $5 million investment to drive cybersecurity innovation.
- A portion of the investment returns will be used to support the RSA Conference community.
SAN FRANCISCO, Nov. 21, 2024 /PRNewswire/ — RSA Conference™, the world’s leading cybersecurity conferences and expositions, today announced that starting in April 2025, the Top 10 Finalists in the RSAC Innovation Sandbox (ISB) contest will receive financing to help them further accelerate innovation to fight the next generation of cybersecurity threats. The investment program will provide these startups with additional capital to deliver solutions that help organizations defend against the increasing volume and complexity of cybersecurity attacks.
The RSAC™ ISB contest, celebrating its 20th anniversary in 2025, has become the world’s premier showcase for the cybersecurity startup community. Some of the most successful cybersecurity innovators have competed in the RSAC ISB contest in order to highlight their game-changing ideas that have disrupted the cybersecurity industry. The contest has grown to receive roughly 150 applicants annually, forming an important source of innovation and ideation that has been essential in addressing ever-changing cybersecurity challenges. More than 750 investors, cybersecurity leaders, entrepreneurs and members of the media join the packed audience to watch the ISB event live.
RSAC Innovation Sandbox Top 10 Finalists will each receive a $5 million investment to drive cybersecurity innovation.Post this
The RSAC ISB contest has become a preeminent platform within the cybersecurity community, providing increased visibility and awareness to the Top 10 Finalists each year. Since the RSAC ISB contest’s inception, companies named as Top 10 Finalists have collectively raised over $16.4 billion* in investments and been involved in over 90 merger and acquisition transactions. Each year, a panel of independent judges selects the Top 10 Finalists after reviewing the applicants’ submissions. At RSA Conference in San Francisco, each Top 10 Finalist presents an overview of their business, and a winner is selected by an independent panel of judges drawn from the cybersecurity community. Starting in 2025, the Top 10 Finalists will each receive a $5 million uncapped Simple Agreement for Future Equity (SAFE) investment, provided by affiliates of Crosspoint Capital Partners.
“Attackers are constantly adapting and changing their tradecraft. Continuous innovation from cybersecurity startups is essential to global cyber defense,” said Dr. Hugh Thompson, Executive Chairman and long-serving program chair of RSA Conference, and Managing Partner of Crosspoint Capital Partners. “Historically, the RSAC Innovation Sandbox competition has anointed winners in cybersecurity long before they became winners in the marketplace. We are excited to introduce simplified, founder-friendly financing for the companies selected by the independent and neutral process of the RSAC Innovation Sandbox to further fuel cybersecurity innovation.”
For many industry-leading cybersecurity companies, the ISB platform has been an important part of their journey. “When Wiz participated in the RSAC Innovation Sandbox contest in 2021, we were a young company in an emerging cybersecurity category,” said Anthony Belfiore, Chief Security and Strategy Officer of Wiz. “The exposure that we received from the ISB platform and RSA Conference helped us attract more customers earlier in our journey. This was extremely helpful for us. This new investment program is a game-changer.”
The investment program is delivered as an uncapped SAFE, which provides an immediate capital infusion while maintaining future fundraising flexibility. “Post Series A investment, subsequent rounds have trended to be larger with multiple investors. A valued security investor like Crosspoint Capital with the deep operational experience of their founding partners would be welcomed into the cap table,” said Theresia Gouw, co-founding partner, Acrew Capital.
In addition to the investment capital, RSAC is also developing a new forum, the RSAC Founders Circle, to provide past and present ISB Top 10 Finalists with additional exposure, coaching, mentorship, and connections with the CISO community. This initiative will also serve as a powerful alumni network for these distinguished entrepreneurs. Multiple ISB finalists have gone on to become standalone public companies while others become attractive acquisitions for platform assets. These previous Top 10 Finalists include leading cybersecurity innovators such as: Wiz, Imperva, SentinelOne, Talon Cyber Security, Phantom Cyber, and Hidden Layer.
Additional details on the RSAC ISB submission process for qualifying candidates will be made available in January 2025.
RSAC’s Commitment to the Cybersecurity Community
RSAC has a heritage of supporting important investments for the community through former and existing programs, including the RSAC Innovation Sandbox, RSAC Security Scholar, child online safety, College Day, community philanthropic activities during the Conference and Conference scholarships to underrepresented communities through its vast network of partners. A portion of the returns received from the investments made in the Top 10 Finalists will be used by RSAC to support the cybersecurity community.
*Indicates latest numbers according to Crunchbase
Additional Quotes:
Nasrin Rezai, SVP and Chief Information Security Officer, Verizon – RSAC Innovation Sandbox Judge
“CISOs like me who are constantly trying to sort through the barrage of new cybersecurity entrants are always looking for a signal on who to spend time with and which solutions to try,” said Nasrin Rezai, SVP and Chief Information Security Officer, Verizon and returning ISB judge. “The rigorous process of picking these Top 10 Finalists creates a signal to the market of who to pay attention to.”
Dean Sysman, Co-Founder and CEO, Axonius – RSAC 2019 Innovation Sandbox Winner
“One of the best things you want to achieve as a startup in the cybersecurity world is to be a part of the RSAC Innovation Sandbox contest,” said Dean Sysman, Co-Founder and CEO, Axonius. “RSA Conference is the most important place where cybersecurity business, ideas, and products get introduced, talked about, and reviewed. The recognition and validation that winning ISB provides coming from that esteemed judging panel was instrumental in people trusting that we would follow through in what we promised we would do for them. There is nothing to lose by applying. Winning it sets you apart in a very differentiated and unique way while pushing the industry to look at you in a new light.”
Rehan Jalil, CEO, Securiti AI – RSAC 2020 Innovation Sandbox Winner
“Making it into the RSAC ISB Top 10 and then winning the contest sends a very strong signal to not only the venture capitalists but the industry at large. The panel of judges for the ISB competition is very diverse, and they each evaluate startups with a different lens, which ultimately helps you as a company be judged more holistically. Winning ISB put us on the map, boosting our brand and increasing customer engagement. Whether you raise money before the contest or after, you get community interest in potentially making a jump to the next stage once you make it into the Top 10,” said Rehan Jalil, CEO of Securiti AI, RSAC 2020 Innovation Sandbox Winner.
Oliver Friedrichs, Founder and CEO, Pangea and Founder and CEO, Phantom Cyber – RSAC 2023 Innovation Sandbox Finalist and RSAC 2016 Innovation Sandbox Winner
“Being a Finalist puts you on the map and separates you from the pack,” said Oliver Friedrichs, Founder and CEO of Pangea, RSA Conference 2023 Innovation Sandbox Finalist and Founder and CEO of Phantom Cyber, RSAC 2016 Innovation Sandbox Winner. “If you’re a new, relatively unknown entity, it’s a great way to launch your company on the big stage. The attention you get being a Top 10 Finalist attracts venture capitalists, strategic investors, and enterprise customers who are all trying to understand what these new companies are doing and how they can help me. This new investment program for the Top 10 Finalists is a testament to the quality and potential of these companies. This added funding provides an even greater long-term financial impact for these startups and further extends their runway.”
Dave Chen, co-head of Global Technology Investment Banking at Morgan Stanley – RSAC Innovation Sandbox Judge
“Several of the companies that have been selected to the ISB Top 10 have gone on to become juggernauts in cybersecurity. The Innovation Sandbox competition is where some of the biggest stories in cybersecurity begin,” said Dave Chen, co-head of Global Technology Investment Banking at Morgan Stanley. “I’m honored to be a judge for the 2025 contest.”
Ben Colman, Co-Founder and CEO, Reality Defender – RSAC 2024 Innovation Sandbox Winner
“For over a year, we had board members, investors, and clients encourage us to apply to the Innovation Sandbox contest,” said Ben Colman, Co-Founder and CEO of Reality Defender and winner of the RSA Conference 2024 Innovation Sandbox contest. “We applied with no expectations, made it to the Top 10, and quickly realized our fellow Finalists were almost all pure play cybersecurity companies — something we thought was our disadvantage as a cybersecurity company focused on AI, but ultimately proved to be why we won. Awarding future winners with an uncapped SAFE note now makes applying to RSAC Innovation Sandbox a truly game-changing proposition.”
Paul Kocher, Independent Researcher, Investor and Marconi Prize winner – RSAC Innovation Sandbox Judge
“The Innovation Sandbox contest is a fantastic event and terrific driver for bringing new technology to market — and for entrepreneurs it’s an opportunity to present to the ideal audience,” said Paul Kocher, RSAC ISB Judge, Investor, Independent Researcher and Marconi Prize winner. “I’ve served as a judge for most of the contest’s 20 years, and have seen first hand how it raises Finalists’ profiles, helping start-ups build enthusiasm with customers, investors, and new hires. Although the strong field of applicants makes the selection process challenging, I appreciate the Conference and judges’ commitment to ensuring the neutrality and independence of the evaluation and selection process.”
About RSA Conference
RSA Conference™ is the premier series of global events and year-round learning for the cybersecurity community. RSAC is where the security industry converges to discuss current and future concerns and have access to the experts, unbiased content, and ideas that help enable individuals and companies advance their cybersecurity posture and build stronger and smarter teams. Both in-person and online, RSAC brings the cybersecurity industry together and empowers the collective “we” to stand against cyberthreats around the world. RSAC is the ultimate marketplace for the latest technologies and hands-on educational opportunities that help industry professionals discover how to make their companies more secure while showcasing the most enterprising, influential, and thought-provoking thinkers and leaders in cybersecurity today. For the most up-to-date news pertaining to the cybersecurity industry visit www.rsaconference.com. Where the world talks security.
SOURCE RSA Conference