AaDya Security is a Detroit, Michigan-based company that provides smart, simple, effective, and affordable cybersecurity software solutions for small and midsize businesses (SMBs). To learn more about the company, Pulse 2.0 interviewed AaDya Security founder and CEO Raffaele Mautone.
Raffaele Mautone’s Background
Mautone has had the opportunity to lead several teams through successful acquisitions; strategic planning and implementation and deploying large, multi-tiered complex programs and have served companies such as Duo, FireEye, McAfee, and Dell.
“I also have experience in implementing marketing and sales strategies, positioning companies for future growth, and deploying applications and business process improvements to assist with bookings, leads, and new go-to-market programs,” said Mautone. “I am a passionate supporter of Detroit’s tech and startup communities and have hosted several events to connect local founders with the investment community. I have a BS from Eastern Michigan University and as an active alumnus, have participated in student mentorship and provided support for the university by donating my time, talents, and resources.”
Formation Of AaDya Security
How did the idea for AaDya Security come together? “Throughout my career, I noticed cybersecurity options for SMBs were either watered-down enterprise solutions or expensive options that were more than they needed or could handle, leaving many unprotected, and putting their companies at risk. Instead of slowing down after my exit from Duo Security/CISCO, I threw myself into bringing to life what started as an idea, then a back-of-a-napkin sketch, to deliver an all-in-one solution designed for the needs of SMBs. After initial hesitancy from investors, I launched AaDya in March of 2019 through a combination of self-funding, angel investors, and VCs,” Mautone told me. “To build our platform, we provided managed security services to 13 companies to understand their unique challenges. These design partners helped to build what is now Judy, an AI and Machine-Learning engine that works behind the scenes to deliver the platform’s key features: Single Sign On, Password Management, Anti-Phishing, Endpoint Protection, and Automated Threat Detection and Remediation. She also works up front as a virtual cybersecurity assistant who can support users with cybersecurity and IT-related issues. This unique platform allows SMBs who lack the time, budget, and human resources to manage multiple point products, to operate from a single platform that is easy to use and manage, making true enterprise-level security accessible.”
Favorite Memory Working At AaDya Security
What has been Mautone’s favorite memory working for AaDya Security so far? “I love watching our customers’ and partners’ reactions when they see how Judy operates. They can’t believe they have an all-in-one solution, designed specifically for them that is easy to use and takes so many burdens off of their team,” Mautone reflected.
Challenges Faced
What are some of the challenges Mautone faced in building the company and has the current macroeconomic climate had any effect on the company? “Navigating a global pandemic when the company was only a year old definitely was our biggest challenge. The recession has also been challenging for most small businesses but provided us with an opportunity to explore our affordable services,” Mautone acknowledged.
Core Products
What are AaDya Security’s core products and features? “Our all-in-one solution or suite of products includes Passwordless authentication, MFA, DNS Filtering, EDR, SIEM, Learning, and Compliance,” Mautone explained. “These are the pillars all small and medium businesses need to protect their brand, data, and customers. SMB customers are not going to look at the 3,500-point products out there and try to pull this together. Our partners also know it’s not easy to try to stitch different companies’ products together to have a solution that meets their needs.”
Evolution Of AaDya Security’s Technology
How has AaDya Security’s technology evolved since launching?
“We believe the size of your company (or your budget) shouldn’t limit your ability to combat cyber threats. That’s why we’ve developed an all-in-one software solution to provide smart, simple, affordable, and effective cybersecurity protection,” Mautone noted. “We started the company with three pillars: Password Manager, EDR, and DNS Filtering. Feedback from our customers and partners led to adding the additional pillars that complete Judy, our all-in-one solution.”
Most Significant Milestones
What have been some of AaDya Security’s most significant milestones? “Our most significant milestone is watching the team grow from two people to now selling into five countries. Another important milestone for our company is how our partners have adopted and love our Channel Program,” Mautone replied.
Customer Success Stories
When I asked Mautone about customer success stories, he cited the following:
— One example is a midsize law firm that AaDya has been working with for about a year. Judy was able to empower their one-person IT department to keep their most sensitive customer, employee, and company data secure without the need to manage multiple-point products. The all-in-one platform also provided them with a framework to quickly and easily meet critical compliance requirements.
— Another great example and one of AaDya’s earliest adopters is an established executive coaching and consulting firm. Judy helped them with security concerns related to a distributed workforce of contract employees using company email in a BYOD environment. They now have peace of mind that their customer data and their critical business platforms are protected 24/7 for a fraction of the cost of leveraging external security services offered through their current provider.
— One of AaDya’s most technically mature customers, a midsized apparel manufacturer, originally came to the company because they were in the market for both 2FA and EDR. They were excited by AaDya’s consolidated approach to security which also included a password manager and DNS filtering. Implementing Judy to the entire team gave them instant protection to quickly and easily secure their entire operation.
— AaDya also worked with one of the company’s channel partners that specializes in working with franchise owners/operators, who leverages Judy as part of their full suite of IT and telecom service offerings. They loved the simplicity and power of AaDya’s platform and the visibility it gave them in their customer’s environments.
Funding/Revenue
In terms of funding and the revenue model, Mautone noted that the company recently closed a $5 million Series A funding round.
“New York-based VC firm Left Lane Capital served as our lead investors with participation from current investors 645 Ventures, Firebrand Ventures, Gaingels and Invest Detroit,” Mautone commented. “The new funding will enable the company to fill a key leadership position in finance and expand its sales team to accelerate the growth of its channel program for managed service providers, resellers and referral partners serving small and midsize business customers.”
The company generates revenue through the aforementioned Channel Partner Program.
Total Addressable Market
What total addressable market (TAM) size is AaDya Security pursuing? “In the United States, there are 32 million small businesses that make up the backbone of our country. This is the same in other regions around the world,” Mauntone analyzed.
Trends
What are some of the trends that Mautone noticed in his market? “Recently, there has been an uptick in the number of Ransomware attacks, however Phishing, Malware, and Credential Stealing along with Ransomware continue to be the biggest threats to any organization,” Mautone replied. “Additionally, businesses are struggling with the fundamentals of security hygiene – Vulnerability Management, Credential & Privilege Management, Multi-Factor Authentication, and Defined (and Tested) Incident Response Plans. As the old adage goes as much as things change they stay the same.”
Differentiation From The Competition
What differentiates AaDya Security from its competition? “We are the only one selling to small and medium-sized companies. Our competitors treat these companies like a revenue stream and typically water down their products. We designed Judy as an Enterprise grade solution through the lens of our customers,” Mautone shared.
Future Company Goals
What are some of AaDya Security’s future company goals? “The entire idea and mission behind AaDya is innovative in that it’s a territory that many of the major players in the cybersecurity industry have avoided due to its cumbersome nature and revenue potential. We see this differently. With the combination of a vast universe of SMBs who have been underserved and the rise in cybercrime against them, we saw an opportunity to not only create something innovative, but something that could truly help a segment that comprises the majority of economic activity, not just in the US, and North America, but across the globe,” Mautone concluded. “The major differentiator for AaDya’s platform is that it combines everything that an SMB needs for security into one platform that is not only effective at protection but provides tools that can help end users not only work more safely, but also more efficiently. It’s not heavy or cumbersome like traditional cybersecurity, it’s cybersecurity that doesn’t feel like cybersecurity. Because the SMB universe is so large, and because of the enthusiasm we saw from potential channel partners, we created a program for channel partners which is showing incredible growth and potential.”
