We are joining Coalition!

It turns out, a lot goes into the ability to stop bad guys from causing digital harm:

#You have to be fast

Obviously, with a name like Wirespeed, this has been our goal from day one. We want verdicts on security telemetry to happen at the speed of modern cloud compute: milliseconds. Throughout this past year, we’ve done just that. With hundreds of thousands of endpoints sending telemetry to our platform, in the last three months we’ve maintained a median time to verdict (MTTV) of 1,801 milliseconds; that’s despite our intentionally added delays which wait on corroborating telemetry from customers’ upstream systems to ensure we make the correct decisions.

#You have to be accurate

If we were just guessing our verdicts like a coin-toss, obviously nobody would want to use us. Our industry is so “alert fatigued” we even have fatigue on the phrase “alert fatigue” (apologies, three dollars in the overused phrase jar!). We have put a razor’s edge on our accuracy, reducing alert noise by over 99.99% (that’s a real stat!) across all of our customers the last three months. This makes sense when you think about it: a business is very unlikely to get breached everyday, so why should they receive escalations everyday?

#Unit economics matter

Some of the fastest “cars” are just jet engines with a seat and wheels attached, screaming across the salt flats for the purposes of achieving a one-time speed record. That’s not us. From day one, we were laser-focused on unit economics more than our competitors. We understand what it costs to properly triage a single alert, at scale, and we have cut out the fat. Most of our decisions are made by our deterministic logic (“expert system” in nerdy Computer Science terms), which executes in traditional CPUs. We sparingly use AI, which requires more expensive GPU compute, precisely where it adds value, such as summarizing escalated cases, assisting a human to build a detection rule in our SIEM and data lake, or analyzing subtle live off the land process trees for signs of obfuscation and malice. Put simply: the costs to deter material impact from cyber threats have to be significantly less than the impact itself.

#Distribution matters most

If a tree falls in a forest with nobody around, does it make a sound? If Wirespeed is fast, accurate, and affordable, but cannot reach as many organizations as possible, can it stop cyber threats? We didn’t create Wirespeed to be like the hobbyist mechanic building a racecar in his garage that few would see perform. We built it to have maximum effect and reach as many organizations as possible, regardless of their size, containing bad guys before they could cause material impact. We can think of no better way than pairing with Coalition!

#What makes Coalition such a great pairing for Wirespeed?

Cybersecurity serial entrepreneur and Wirespeed investor, Jeremiah Grossman, convinced Wirespeed co-founder and CEO, Tim MalcomVetter, 15 years ago that security products should back up their claims with a guarantee. And, in a conversation 8 years ago (when Coalition was founded) we talked about how cyber insurance is the future of cybersecurity. Businesses demand calculated cyber risks and can’t keep spending on new cybersecurity categories of products, only knowing the costs of the controls and not the likelihood of impact.

At its core, Coalition truly comprehends risk. Joshua Motta, Coalition’s CEO and co-founder, often repeats the simple phrase: “What risk you don’t mitigate or transfer, you accept.” Coalition doesn’t sit on the sidelines, waiting for their policyholders to get breached. They take a unique active approach to helping, which is why they have 73% fewer cyber insurance claims compared to the industry, a number we aim to take even higher! Together with Coalition, Wirespeed will be putting our money where our mouth is.

Coalition’s mission, “Protect the unprotected,” resonates so well with us and summarizes the distribution problem of reaching the underserved. Coalition has done an excellent job of this, as the fastest growing cyber insurer in North America, with over 100K policyholders, many of whom are “under the cyber poverty line.” Together, we can reach organizations that have been priced out of MDR or who could only afford lower quality threat detection & response that left them exposed. We’ll also bring an advantage to top enterprises looking to take their cybersecurity programs to the next level of maturity with speed, accuracy, cost reduction, and ultimately efficiency of their teams.

#What does this look like in the near term?

The Wirespeed team is all-in on Coalition. Tim MalcomVetter, Wirespeed co-founder and CEO, will be taking the role of General Manager, Coalition Security. Jake Reynolds, Wirespeed co-founder and CTO, will be Head of Engineering, Coalition Security. Our Wirespeed engineers are super excited to begin the next phase. We’re going to be introducing Wirespeed to existing Coalition MDR customers and Coalition cyber insurance to Wirespeed customers. We also have an aggressive roadmap and bigger vision.

#We’re not done building!

One of the additional reasons why we were so excited to join Coalition is their prior acquisitions and the founders’ continued engagement. Nearly six years ago, Coalition acquired Binary Edge, one of the first internet-scale attack surface management solutions, which Coalition uses to inform cyber insurance policy underwriting. As founders, it is so refreshing to see Tiago Henriques, Binary Edge’s founder, not only still with Coalition, but still building, now as the Chief Underwriting Officer. He tells us he “still gets to be a founder.” We know how special and unique this is, which is icing on the cake for us.

#Wirespeed + Coalition = cybersecurity incentives, aligned.

Let’s go!

Wirespeed by Coalition

Coalition is the marketing name for the global operations of affiliates of Coalition, Inc. In the U.S., insurance products are offered by Coalition Insurance Solutions, Inc., a licensed insurance producer and surplus lines broker (Cal. license # 0L76155) acting on behalf of a number of unaffiliated insurance companies, and on an admitted basis through Coalition Insurance Company, a licensed insurance underwriter (NAIC # 29530). See licenses and disclaimers. Security products/services are offered by Coalition Incident Response, Inc. dba Coalition Security. Coalition Security does not provide insurance products.

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