Paul Trulove, the CEO of Irvine cybersecurity company SecureAuth Corp., said the company is making major investments and expects to see significant growth next year.
“We’re very heavily investing in next-generation products,” Trulove told the Business Journal last month, calling 2022 the company’s “product investment year.”
“We’ll probably significantly increase our growth rate in 2023,” while the company is actively bringing on new customers now and seeing “some growth” in the U.S. and globally, he said.
The internet authentication company also expects to see a major increase in its client roster, now numbering around 600 companies.
The company, founded in 2005, is among Orange County’s more prominent cybersecurity firms. Its main investor is K1 Investment Management of Manhattan Beach, which reportedly invested some $200 million in the business five years ago.
New Hire
Trulove said he is “very pleased” with the results since he arrived in the top spot at the private equity-owned company earlier this year.
SecureAuth said in February that Trulove was appointed CEO to accelerate growth in the identity and access management market. He took over the role from interim CEO Ravi Khatod, who retains his post as the company’s executive chairman.
The company has no plans to relocate, said Trulove, who is based in Austin, Texas.
“We’ve added a number of new employees,” he said, with the headcount now at 175. The company was advertising for eight positions as of June 9, including professional services consultant and big data engineers.
New Platform
The company this month introduced Arculix, a new platform designed to make internet authentication more efficient for users while maintaining top security.
The company says it’s built its platform “around orchestrating the user journey— meaning everything from enrollment to post- authentication can be extended and customized to meet exact business requirements. In technical terms, Arculix “combines orchestration, leading edge password-less technology, and continuous authentication.”
The platform has the flexibility to be “deployed as a full end-to-end solution, or augment existing investments with out of the box integration with any industry standard identity provider,” according to the company.
It’s the latest step in balancing security with use by customers.
Arculix can tell whether the device is recognized, whether the user is on a known network, what country the user is in, and other context to assess the level of risk that the person is not who she or he claims to be.
SecureAuth plans to make Arculix generally available at the end of August.
Enterprise Focus
The company’s customers are primarily large enterprises with plenty of employees. They include Bright Horizons, Bass Pro Shops, Delta Dental and Michaels.
SecureAuth doesn’t disclose revenue.
“As today’s threat landscape continues to evolve with new adversaries and tactics, it’s more important than ever for companies to continuously authenticate throughout a user’s digital journey,” said CEO Trulove.
He said that “organizations are trying to balance the user experience and security of workforce access while also addressing supply chain security,” which is crucial for business-to-business transactions.
“We’re trying to minimize the amount of friction that we put a user through when they go through that authentication process.”
That includes determining the right person is using the right device from the right location.
“If we notice something that is out of line that doesn’t look right, then we can increase friction,” Trulove said. “The aim is to create a balance between security and user experience.”
