TrustWrx_Investor_Deck_-_05-03-19_GS.pdf

TrustWrx is a drop-in security and privacy solution for SaaS or
enterprise management of IoT devices and cloud communications -
making the IoT infrastructure end-to-end private and safe from most
known cyberthreats and malware.
Designed specifically for IoT, and far more comprehensive
than TLS or home-grown security layers, TrustWrx is a cost effective,
easily adopted and code-free security answer for OEMs and providers
of IoT products and services across diverse industries.
TrustWrx complements the existing defensive stack by pushing security and privacy beyond the perimeter – protecting IoT devices wherever they are on the open Internet. Our technology takes a fresh, strategic and proactive approach to create a structured environment of trustworthy communications. By the virtue of its advanced architecture it simply locks out the vast majority of threats that are invasive or potentially damaging.
The TrustWrx technology was developed at a cost of $3.5 million, has been proven in the real world, tested by third-party labs and is backed by two US patents.

Transcript

1. Threat-Immune Security for the Internet of Things 1 © 2019 TrustWrx, Inc. – Company Confidential – All Rights Reserved Investor Deck George Sidman, CEO +1. 831.601.1776 sidman@TrustWrx.com www.TrustWrx.com
2. 2 © 2019 TrustWrx, Inc. – Company Confidential – All Rights Reserved The Escalating Cyber Security Crisis Problem – Legacy Security not a fit for IoT Company – Leadership – Timeline – Financials Solution – How TrustWrx Secures IoT Introducing TrustWrx:
3. 3 © 2019 TrustWrx, Inc. – Company Confidential – All Rights Reserved The Escalating Cyber Security Crisis Worldwide Cybercrime Losses 2011 $60 Billion Costs of Security Defenses 2018 $600 Billion 2021 >10% of US GDP >2 Trillion 2018 Average Cost per Breach $8.7 Million 2019 Security Spend Worldwide $124 Billion 2021 Predicted Spend Worldwide >$150 Billion Ponemon Report - https://www.ibm.com/security/data-breach
4. 4 © 2019 TrustWrx, Inc. – Company Confidential – All Rights Reserved Unfilled Security Engineer Positions Installed IoT devices The lack of IoT security is a primary driver of the escalating security crisis. 2019 >300 Thou. 2021 >1.5 Million 2019 20 Billion 2025 >35 Billion https://www.securitymagazine.com/articles/89567 Exacerbating the problem . . .
5. 5 © 2019 TrustWrx, Inc. – Company Confidential – All Rights Reserved The entire Internet security industry is threat-driven - focused on defense at the enterprise perimeter. But wait . . . IoT operates in the cloud where threats abound and there is no perimeter to defend. True IoT Security can only be accomplished: ▪ By using durable encryption to privatize all cloud communication channels, ▪ By policy verifying all traffic sources, packets and end point identities. ▪ By policy controlling access to all IoT devices, hubs, routers and servers. The defensive perimeter security model is not a workable fit for IoT security requirements. IOT SECURITY PROBLEM:
6. 6 © 2019 TrustWrx, Inc. – Company Confidential – All Rights Reserved SOLUTION: TrustWrx Secures & Privatizes All IoT Devices & Communications Secured IoT Devices TrustWrx Policy Gateway Enterprise Applications Legacy or New Threat-Immune Communications in the Cloud TrustWrx Protected IoT Devices
7. 7 © 2019 TrustWrx, Inc. – Company Confidential – All Rights Reserved BENEFITS of TrustWrx ▪ All IoT devices & servers safe on the open Internet ▪ Early ROI on IoT security investments ▪ Customer’s perception of greater value ▪ Protection for existing security investments ▪ Improvements to perimeter security ▪ Reduction in engineering staff and security budgets ▪ Reduction in overall operating costs ▪ Protection from potential IoT threat losses
8. 8 © 2019 TrustWrx, Inc. – Company Confidential – All Rights Reserved TrustWrx inverts the IoT security model from threat-driven to threat-immune First Fully Integrated Privacy and Security Platform for IoT ▪ Triple encryption of all IoT traffic ▪ Central policy gateway controls ▪ Control of all server & device ports ▪ Integrated identity management ▪ Fully automated key management ▪ IoT network management console ▪ Compatible with all apps & protocols Competitive Advantages ▪ First deterministic – not defensive - security solution for IoT ▪ Technology from a prior company - Developed at a cost of $3.5 million ▪ Extensively tested – zero vulnerabilities ▪ 2 issued US patents (2014) ▪ Prototype running today on AWS
9. 9 © 2019 TrustWrx, Inc. – Company Confidential – All Rights Reserved LICENSING MODEL & MARKETS Sources of Revenue: ▪ Wholesale Channel Partner licensing ▪ Enterprise licenses ▪ Bulk IoT device licenses ▪ TrustWrx cloud services for SMBs ▪ Tiered support and update services ▪ Implementation consulting services Recurring revenue licensing First Markets: ▪ Industrial & Building automation ▪ Hospital & Health Care equipment ▪ Connected Vehicles ▪ The Electric Grid Future Markets: ▪ Government & Defense ▪ Home Automation Target Markets
10. 10 © 2019 TrustWrx, Inc. – Company Confidential – All Rights Reserved WHY WE’RE UNIQUE Feature Value Delivered All aspects of the IoT infrastructure seamlessly controlled by the central policy gateway. Controls the identity and behavior of application servers, devices, packets and all port access. 100% machine driven key management. Zero exposure to compromised keys & user key errors Private DNS integrated with policy engine. Overcomes legacy DNS harvesting and spoofing threats. Advanced port management on IoT servers and devices. Passes only policy-qualified packets. Triple encryption of all packet content, headers, metadata, attachments, routing & addressing Protects entire packet. Eliminates the hijacking of packet headers and content for threats and malware. Integrated identity management of users, servers, devices and all encrypted packet traffic. Allows traffic only among registered identities and components and eliminates sender impersonation. Works with all IoT and net protocols, without change. Fast, easy deployment with minor app changes. Single pane of glass management for IoT infrastructure. Full accountability of everything that happens over the IoT network.
11. 11 © 2019 TrustWrx, Inc. – Company Confidential – All Rights Reserved THE BOTTOM LINE No one else is taking this approach. TrustWrx shuts down gaping holes in an enterprise’s IoT security posture. IoT security deployments, including all encryption, keys, certificates, policies, identities and IoT device communications are fully automated, eliminating the need for additional engineering resources. This accelerates business innovation & creates a more responsive security culture.
12. 12 © 2019 TrustWrx, Inc. – Company Confidential – All Rights Reserved TIMELINE Ramp up channel marketing/sales Secure next 50 customers Deliver TrustWrx v2.0 into production 2020 Raise Seed Round BETA testing with at least 3 customers Enable first channel partner Launch marketing campaign Complete BETA version of TrustWrx product Targeted lead generation Customer references, content generation, etc. Stealth Development Cycle 2019 Enable next 6 channel partners Secure first 10 paying customers Deliver TrustWrx v1.0 into production Raise Series A
13. 13 © 2019 TrustWrx, Inc. – Company Confidential – All Rights Reserved FINANCIAL MODEL Funding Seed Round: up to $500K in equity or convertible notes. Use of Funds: Product development. Marketing and sales to achieve first few beta customers. Exit: Acquisition by major security or network company. $110,000 Invested to date
14. 14 © 2019 TrustWrx, Inc. – Company Confidential – All Rights Reserved LEADERSHIP A 30-year track record in launching & growing successful software and Internet companies. Inventor of a highly secure email solution; the foundation technology for TrustWrx. George Sidman | http://www.linkedin.com/pub/george-sidman/0/b9b/381 Highly experienced senior software architect & developer with wide range of technology expertise. Background in applied security, web marketing, encryption, etc. Ken Stilwell | https://www.linkedin.com/in/stilwellconsulting/ Chairman & CEO CTO
15. 15 © 2019 TrustWrx, Inc. – Company Confidential – All Rights Reserved ADVISORS Key accomplishments at CloudPassage: • 3X growth in revenue, bookings in 2014, 2015 • 8X growth in total active sales pipeline in 18 months • 60% of total active sales pipeline from marketing • Series D funding of $36M in August, 2015 Successful CMO & sales executive positions with a focus on scaling pre-IPO enterprise software companies. Most recently led marketing & inside sales at CloudPassage, a workload security firm. Mitch Bishop https://www.linkedin.com/in/mitchbishop/ Widely-experienced sales and marketing professional and consultant with 30 years’ experience in sales and marketing leadership roles in hardware companies and software startups. Senior Director of Sales Enablement at Centrify, intersecting sales and marketing to provide go-to- market messaging, sales and marketing messaging alignment, storytelling, sales and product training and sales tool selection for productivity enhancement. Mark Gibson https://www.linkedin.com/in/rmarkgibson/
16. 16 © 2019 TrustWrx, Inc. – Company Confidential – All Rights Reserved ADVISORS Senior C-Suite executive, innovative strategic leader, and digital/big data/AI specialist familiar with digital transformation, startups, and social media integration. His industry experience includes a broad spectrum of marketing and strategic planning for package goods consumer products, travel, retail, and credit card financial industries. He developed a large credit card targeting database on AI neural networks with emphasis on the protection of individual privacy. Richard Spangenberg https://www.linkedin.com/in/richardspangenberg/ Entrepreneurial leader with 40 years functional, general management, and board level experience in tech companies ranging from start-ups to global S&P 500 companies. He is principal partner at Coastal Ventures, and is currently CSO for Affinity Solutions. Formally President and CEO of Pivot3, Vice President of Corporate Development and CMO for NCR, and Chairman and CEO of Intelleflex Corporation. Previously, he had a 25 year career at Symbol Technologies, serving in many roles including Vice Chairman and CEO. Rich Bravman https://www.linkedin.com/in/richardbravman/
17. 17 © 2019 TrustWrx, Inc. – Company Confidential – All Rights Reserved ADVISORS Cybersecurity responsibility for Intuit’s TurboTax, Mint and Quicken offerings. Director of Information Security at Electronic Arts, Director of Security at VeriSign, Chief Scientist for Security Services at Equifax Secure (1998- 2000), and Manager of Network Design at Electronic Data Systems. Author of: “A User's Guide to X.509 v.3 Digital Certificates.” Dan Corcoran https://www.linkedin.com/in/corcorandan/ Patent Counsel Michael Mallie, Womble Bond Dickenson LLP, Sunnyvale CA Clients and Projects BellSouth, Verizon, Dacom Korea, Telefonica, Intel Corporation and General Instruments. Lead the Xerox team that produced the first universal electronic mail gateway and associated ISO and CCITT standards. Marc Warshaw https://www.linkedin.com/in/marc-warshaw-6108942/ Government Engagements OPEC, Offices of the Presidents of Spain and Venezuela, the U.S. Joint Chiefs of Staff and the Defense Communications Agency.
18. Threat-Immune Security for the Internet of Things 18 © 2019 TrustWrx, Inc. – Company Confidential – All Rights Reserved George Sidman, CEO +1. 831.601.1776 sidman@TrustWrx.com www.TrustWrx.com Because no war can be won by fighting defense . . . Appendix . . .
19. 19 © 2019 TrustWrx, Inc. – Company Confidential – All Rights Reserved SECURITY & PRIVACY ATTRIBUTES TrustWrx Security & Privacy Attributes TrustWrx HTTPS VPN TOR Automatic Device/Gateway Authentication HTTPS Policy Driven Port & Firewall Packet Filtering Encrypted Multi-Relay Traffic Cloaking Endpoint-to-Endpoint Message Content Triply Encrypted All Packet Headers, Routing & Metadata Triply Encrypted First/Last Hop Server to Endpoint Triply Encrypted Sender/Receipt IP Address Pairs Disassociated Cloaked Domain Name/IP Address Relationships Conceals the Name/IP Identity of Endpoints All Ports Protected by Encrypted Port Knocking
20. 20 © 2019 TrustWrx, Inc. – Company Confidential – All Rights Reserved Gateway Services IP White List Device Fingerprint Policy checks Device Application Message To: Server Application IoT Device Client Protocol Broker IP White List Device Fingerprint Message Compression/ Encryption Server Application Message From: IoT Server Client Protocol Broker IP White List Device Fingerprint Message Decryption POLICIES DATABASE ACCOUNTS DATABASE PUBLIC KEY DATABASE NON-PUBLIC IP ADDRESSES TrustWrx Policy Gateway MESSAGE SERVER TRANSACTION DATABASE Device Application Internet Cloud 4 Encrypted Message 8 Deliver Msg ( Not the IP Address ) Policy Gateway Policy Management IP White List Device Fingerprint SaaS or Enterprise 1 Confirm Account Policies 7 Confirm Policies 3 Return Recipient Public Key 6 Notify Incoming Encrypted Databases Building Automation Health Care Connected Cars Symmetric One-time Pad - within PKI - inside TLS 2 Start Message - TO: server address 5 Setup Server Relays MESSAGE OPERATION This slide is automated and best viewed in presentation mode