NowSecure Company Profile

Background

Founded in 2009 and headquartered in Chicago, Illinois, NowSecure specializes in mobile application security and privacy solutions. The company is dedicated to protecting the global mobile app economy by providing tools and services that enable organizations to deliver secure mobile applications efficiently. NowSecure's mission is to safeguard millions of mobile app users by offering comprehensive security testing, training, and penetration testing solutions.

Key Strategic Focus

NowSecure's strategic objectives include:

• Comprehensive Mobile App Security: Delivering a full suite of mobile app security testing software and services to identify and mitigate vulnerabilities.

• DevSecOps Integration: Empowering development and security teams with automated tools that integrate seamlessly into DevSecOps pipelines, enhancing release speed and security.

• Standards-Based Approach: Aligning with industry standards such as OWASP MASVS to ensure consistent and reliable security assessments.

• Market Expansion: Serving a diverse clientele across industries including finance, healthcare, government, and technology.

Financials and Funding

NowSecure has secured a total of $28.5 million in funding over multiple rounds. Notable funding events include:

• December 2014: Raised $12.5 million in a Series A round led by Baird Capital’s Venture Capital group.

• June 2019: Secured $15 million in a Series B round led by ForgePoint Capital.

These funds have been utilized to expand product offerings, enhance technological capabilities, and grow the company's global presence.

Technological Platform and Innovation

NowSecure distinguishes itself through several proprietary technologies and methodologies:

• NowSecure Platform: An automated mobile app security testing solution that integrates static, dynamic, behavioral, and interactive testing on real Android and iOS devices.

• NowSecure Workstation: A toolkit designed for penetration testers to assess complex, high-risk mobile applications and IoT-connected mobile apps.

• NowSecure Academy: An online training and certification program offering mobile-specific security education for developers and security professionals.

• Open-Source Contributions: Active participation in projects like Frida and Radare, providing dynamic instrumentation tools for developers and security researchers.

Leadership Team

• Alan Snyder: Chief Executive Officer

• Andrew Hoog: Co-Founder

• David Weinstein: Chief Technology Officer

• Katie Bochnowski: Senior Vice President of Customer Success & Services

• Adam Goodman: Senior Vice President of Product Management

Competitor Profile

Market Insights and Dynamics

The mobile application security market is experiencing significant growth, driven by the increasing reliance on mobile applications across various sectors. As mobile app usage proliferates, the demand for robust security solutions to protect sensitive data and ensure compliance with regulatory standards has intensified.

Competitor Analysis

Key competitors in the mobile app security space include:

• Veracode: Offers cloud-based application security testing services, focusing on static and dynamic analysis.

• Check Point Software Technologies: Provides a comprehensive suite of security solutions, including mobile threat prevention.

• Zimperium: Specializes in mobile threat defense, offering on-device protection against known and unknown threats.

Strategic Collaborations and Partnerships

NowSecure has established significant partnerships to enhance its market position and technological capabilities:

• GitHub: Launched the NowSecure GitHub Action for dynamic mobile app security testing, integrating with GitHub Advanced Security.

• ioXt Alliance: Collaborated to create industry-standard certifications for IoT-connected mobile apps and VPNs.

• OWASP: Contributed to the OWASP Mobile Security Testing Guide and MASVS, supporting the development of industry standards.

Operational Insights

NowSecure's strategic considerations include:

• Integration with Development Workflows: Emphasizing seamless integration of security testing into existing development pipelines to minimize disruption and enhance efficiency.

• Focus on Automation: Leveraging automation to provide continuous security testing, reducing manual effort and accelerating release cycles.

• Commitment to Standards: Aligning with industry standards to ensure consistent and reliable security assessments, fostering trust among clients.

Strategic Opportunities and Future Directions

Looking ahead, NowSecure aims to:

• Expand Product Offerings: Develop new solutions to address emerging security challenges in the mobile app ecosystem.

• Enhance Global Presence: Increase international staff and partnerships to support a growing global customer base.

• Advance Open-Source Contributions: Continue supporting and contributing to open-source projects to drive innovation in mobile security.