QuoScient’s platform QuoLab supports cyber security operators to deliver their daily mission
Introduce yourself and the startup QuoScient to our readers!
Fabien (CEO & co-founder): Hello, I am Fabien and together with Ioannis we have founded our cyber security startup QuoScient in Frankfurt am Main, Germany. I have worked for more than a decade ago in the field of cyber security and built expertise in a variety of security domains as well as while working for different clients ranging from private companies to public institutions.
In my latest corporate position, I have been a global head of Malware Response at a major financial institution, one of the team keeping the Bank and its customer secure days after days. The result of that experience is QuoScient, moreover our collaborative investigation platform QuoLab, supporting cyber security operators to deliver their daily mission.
Ioannis (CFO & co-founder): Hello, my name is Ioannis and with Fabien I share the believe that capabilities such as digital active defense or information security operations are nowadays core competencies for every (technology-driven) private or public organization. Fabien and I met while working at the bank, where I was a financial management consultant in the information security operations team for five years.
Why did you decide to found a company?
Fabien: It is actually very simple. In my former role, we could not find the tools we needed in one solution to deliver on our mission, so we built it. The result of this is our core product, our defense technology QuoLab, which for us, is the logical evolution of the security operations platform (SOP), merging threat intelligence platform (TIP) functionality, analytic processes, and case management in a unified, collaboration-centric ecosystem.
Ioannis: We are convinced of the need that all organizations across all industries must defend themselves in the best possible way against any kinds of digital threats. Especially, since those threats are constantly growing and becoming more and more complex to defend against. Therefore, we have developed an efficient and effective solution Made in Germany.
What is the vision behind QuoScient?
Fabien: Together we aspire towards a secure future for everyone by enabling collaboration within trusted communities of security professionals. We believe collaboration to be key in creating a secure future for all; particularly in an increasingly complex cyber security environment.
We are here to address the biggest challenges in the cyber security industry: too much data, too many vendors and tools and most importantly lack of experienced operators to address the asymmetric cyber security problems.
Ioannis: With our core product QuoLab, we want to raise the efficiency and effectiveness in cybersecurity operations by allowing to detect, predict and counter more threats faster and with less resources. This way we are boosting the efficiency and effectiveness by revolutionizing cyber security operations.
Every CEO today knows their competitive landscape, however, usually not their adversaries and threat landscape, although these threats are existential for any digital strategy. We will change this because we have the answers for these dynamically changing questions.
From the idea to the start what were the biggest challenges and how did you finance yourself?
Ioannis: Concerning the business side of your question, we can say that up to now, we have been very fortunate to be financed by our angel and seed investors and we are in talks with different investors for institutional funding. So, things are going well in this respect.
Regarding the operational aspect of your question, it is no secret that one of the main challenges has been to find the right people for our company. We are very grateful for having formed a team of rarely found more than 40 cybersecurity experts with complementary backgrounds in different organizations – private and public – and industries and from who enable us to deal with and develop a comprehensive understanding of global threats.
Fabien: I totally agree with Ioannis and would like to add another aspect of the challenges we have faced: It is the perception that European institutions, authorities and business rather opt for US-American or Israeli products when considering running their security operations. Of course, US-American and Israeli products are very capable of providing security for organizations, but Europe has so much talent and great companies like us that are able to compete on the global level and provide security products and solutions at par, or better. Now, it is still a perception issue that we would like to overcome by convincing with our highly competitive offerings.
Recent Geopolitical developments prove our point that we must become more independent in Europe from capabilities and data sourced from abroad or the big tech companies in order to become more resilient. We deliver exactly that, capabilities, data and operational expertise, independently.
Who is the target group of QuoScient?
Ioannis: With a lot of our employees having their professional background in security operations in the banking and financial services sector, it is no surprise that this sector is well-known with us concerning the needs and pain points of banks when it comes to digital threats and all the regulation and requirements banks and financial services companies have to comply with.
However, our capabilities are threat and industry agnostic. Besides the banking and financial services sector, we focus on critical infrastructure, government, technology companies and the manufacturing industry.
Fabien: Adding to Ioannis, we also focus on the backbone of the European and certainly the German economy, the small and medium enterprises and Hidden Champions. This does not mean that we are not working with multinational companies – quite the contrary, but we believe that all companies need state-of-the-art security operations, especially those companies that do not have enough resources to finance large security operations within their own organizations. Also, we are working together with different authorities around the world to exchange and work together on adversaries and malware.
How does QuoScient work? What are the benefits?
Ioannis: QuoScient is organized in three main branches as a company: Defense Technology, Security Operations and Intelligence Operations. With Defense Technology we mean our core product QuoLab. Our Security Operations teams engage with, onboard and support our customers. They are like special forces, engage and neutralize attacks, investigate root causes, and ensure that they do not reoccur. Our Intelligence Operations teams alerts our customers to current and emerging threats specifically targeting their organization.
Overall, the benefits for our customers are efficient deployments of their budgets, shortcuts to immediate and effective defense capabilities and we are giving tie back to their existing teams.
Fabien: And most importantly, we are the first company that is founded and built by security operators for security operators. We want to supply security operators with all the tools and functions they need to do their job in the best possible way in one single platform and enable them to collaborate with other security operators irrespective of their organization and industry to exchange on and act against digital threats of all kinds by collaborating in a fashion that is scalable and at the same time secure and compatible with European privacy principles.
How is the feedback?
Fabien: The feedback we receive is very motivating and assuring us that we are on the right path with developing and selling QuoLab as well as our other products and solutions.
Ioannis: Absolutely in agreement I can only add that the feedback with the technical people is naturally different than with the C-suite as they have other pain points as their security operators, but I dare to say that we are addressing all stakeholders and are solving both their problems with our products and solutions.
QuoScient, where does it go? Where do you see yourself in five years?
Fabien: The most ideal outcome from my point of view, would be to have changed the mindset of the information security community and successfully having initiated a change from thinking in silos to actively collaborating against threats in order to make the world more secure.
Ioannis: It goes without saying that we want our company to succeed in the market and make a name for ourselves and establish a European-spirited company in the global market that convinces with its products and solutions.
Finally: What 3 tips would you give to prospective founders?
Fabien:Trust your gut, hire the right people and empower them to do their job.
Ioannis: Just do it and dare to take risks. Be open and learn quickly from feedback and your mistakes. Know your target audience well.
More information you will find here
Thank you Ioannis and Fabien for the Interview
Statements of the author and the interviewee do not necessarily represent the editors and the publisher opinion again.