Resilience is a cyber risk solution company on a mission to help make the world cyber resilient. Pulse 2.0 interviewed Resilience CEO and founder Vishaal ‘V8’ Hariprasad to learn more.
Vishaal ‘V8’ Hariprasad’s Background
Hariprasad was born and raised in the South Bronx. And Hariprasad said:
“As the first American by birth in my family and the child of Guyanese immigrants, hard work and determination were non-negotiables. My parents, both juggling work, school, and parenthood, instilled this work ethic in me. In fact, my father started in the hospital system as a cook and worked his way up to Head of Revenue Cycle Management, while also studying at night as he pursued a bachelor’s degree, two master’s degrees, and eventually a Ph.D. My mother worked her day job while also pursuing her associate’s degree as well.”
“Planes flying to and from LaGuardia would pass right over my grandfather’s walk-up, igniting my early fascination with airplanes and dreams of becoming an astronaut. I even determined that the two schools where I’d have the best chance of reaching this dream were the U.S. Naval Academy and the Air Force Academy. Although I eventually abandoned the astronaut idea, I had the privilege of being part of one of the first classes to enter the U.S. Air Force Academy after the events of 9/11. I earned a degree in mathematics and took on the role of a communications officer, specializing in large-scale enterprise communications tailored for military applications.”
“My Air Force journey led me to Fort Meade and the National Security Agency (NSA). While at the NSA, my focus shifted towards cybersecurity and cyber warfare. My team used cyber intelligence to uncover who was planting IEDs and pinpoint their locations. Reflecting on this experience, I take immense pride in our contributions, which helped save lives and ultimately earned me a Bronze Star. The intricate web of technology in the cyber domain fascinated me as I realized its impact on various aspects of our lives, from business to military operations.”
“Once discharged from active duty, I pursued a Ph.D. in mathematics. I had planned to get my degree and return to the NSA, but I crossed paths with Raj Shah, my co-founder for my first business venture. We started a company to help businesses defend themselves against cyber risks. This encounter reshaped my future, steering me away from a traditional military career trajectory and into entrepreneurship.”
Formation Of Resilience
How did the idea for Resilience come together? Hariprasad shared:
“The concept for the company took shape during my time in the Air Force. I realized that effective cyber risk defense is significantly enhanced by an understanding of offensive strategies. This perspective became a cornerstone of my approach, both in and outside the military.”
“Moreover, I strongly believed that our approach needed to shift beyond traditional defense and IT considerations. The foundation for Resilience was acknowledging the human dimension within cyber risks. For most people, cyber is detached from humanity, seen merely as a technology. My first-hand encounters on the frontlines illuminated the connection between cyber risk and human influence. Behind every cyber operation, there’s a human factor at play.”
“These ideas led to the birth of Resilience, a cyber risk company that tackles cyber risks from a more comprehensive standpoint, acknowledging the human dynamics that underpin every operation.”
Core Products
What are the company’s core products and features? Hariprasad explained:
“Resilience is a cyber risk management company rethinking how organizations measure, assess, and mitigate their cyber risk. The company has two sides – a cyber insurance side and a security product side – that work seamlessly together to identify vulnerabilities, build action plans, offer cyber insurance policies, respond to threats, and find ways to help customers improve their cyber hygiene.”
“Resilience’s flagship product is the Resilience Solution, launched in early May. The product simplifies the process for organizations to assess their overall cyber risk using a unified platform, ensuring all departments – including risk, cybersecurity, and finance – have visibility into the organization’s cyber hygiene + mitigation strategy. The Resilience Solution embodies Resilience’s core mission: dismantling barriers and constructing a comprehensive, transparent method for managing cyber risks.”
Favorite Memory
What has been your favorite memory working for Resilience so far? Hariprasad reflected:
“One memory that sticks out is the day about 60 to 70 Resilience employees came together to clean up our San Francisco office. It wasn’t about me – it was all them and their pride in the company.”
“Seeing everyone pitch in and take ownership, it was like the company became more than just a place to work. It was their place, and that feeling was pretty amazing. It reminded me that the heart of a company is the people.”
Challenges Faced
What challenges have you faced in building Resilience? Hariprasad acknowledged:
“As CEO, it is my responsibility to guide the company through turbulent times. Many factors created uncertainty and doubt, such as the COVID-19 pandemic, the economic downturn, and the war in Ukraine. Moreover, at Resilience, we are working to revolutionize cybersecurity, and there are a lot of unknowns in that journey as well. Despite all that, I am confident in our ability to overcome any challenges that stand in our way. We have a strong team of employees who are committed to our mission.”
Evolution Of Resilience’s Technology
How has the company’s technology evolved since launching? Hariprasad noted:
“Our technology is constantly evolving. In fact, our Resilience Solution is built on a continuously evolving AI platform. It integrates a range of data points, including cloud integrations, scans of external facing infrastructure, and claims data to uncover vulnerabilities and predict the likelihood of loss-causing incidents.”
Significant Milestones
What have been some of the company’s most significant milestones? Hariprasad cited:
“In May, we launched our innovative Resilience Solution, redefining risk management with its comprehensive approach. The solution boasts an insurance loss ratio 3x lower than the market average.”
“Another milestone and further validation for our solution was our recent $100 million Series D funding round. The round was led by a major VC partner and Resilience’s existing capacity provider, Intact Insurance Specialty Solutions’ venture capital unit. Our total funding now stands at over $225 million.”
“This year, Resilience also released its inaugural Claims Report. The report not only highlights novel data and trends surrounding ransomware and cyber insurance claims, but also provides actionable insights for organizations to enhance their readiness against a wide spectrum of cyber threats.”
“In the coming months, we’re excited to roll out another claims report, building upon our data-driven insights to further empower companies in addressing the complexities of cyber risk.”
Customer Success Stories
After asking Hariprasad about customer success stories, he highlighted:
“Our unique approach to cyber risk management has been extremely effective. Resilience’s loss ratio is 3x lower than the industry average, and every single client who opted into our solution avoided paying extortions from ransomware attacks in 2022.”
“More specifically, one of our clients in the education sector experienced two cyber attacks in two years, leading to severe disruptions and damage to the organization’s reputation. The district requested our help to address its risk profile and transform its cyber posture.”
“The first step in this process was a comprehensive audit of the district’s cybersecurity practices to identify vulnerabilities. From there, we created a bespoke incident response plan (IRP) – a comprehensive document to guide the organization’s actions before, during, and after security breaches. Furthermore, we developed a proactive cyber hygiene plan for the district. This involves routine maintenance actions to strengthen its security posture.”
“After these measures were implemented, the district encountered another cyber incident. Now armed with these new tools, it responded to the threat with confidence, minimizing damage and financial losses.”
“With our help, the district eventually qualified for $5 million in ransomware coverage, leaving it more prepared than ever for the increasing potential of cyberattacks.”
Funding/Revenue
After asking Hariprasad about funding and revenue information, he revealed:
“In August, we announced a Series D funding round, raising $100 million. We believe this is a significant round, not only due to a difficult funding environment but also as a validator for our unique approach to cyber risk. The new investment brings our current funding to over $225 million.”
Total Addressable Market
What total addressable market (TAM) size is the company pursuing? Hariprasad assessed:
“S&P sees the global cyber insurance market growing from $12 to $23 billion in the next two years, and Resilience plans to be leading that growth. We’ve just expanded into Europe and are looking to grow to other regions and into the large enterprise space.”
Differentiation From The Competition
What differentiates the company from its competition? Hariprasad affirmed:
“Resilience stands out by offering an innovative approach that consolidates financial impact, insurance, and cybersecurity into a single approach to risk management.”
“Unlike typical insurance companies that solely focus on providing cyber insurance coverage, or security companies that focus on reacting to and mitigating threats as they happen, Resilience provides a new solution. We provide security visibility, cyber risk quantification, and cyber insurance components, all working together. That means organizations can receive better insurance policies while building their resilience to cyber attacks – which makes them less likely to have a costly incident in the first place. Effectively, Resilience allows clients to address both the financial and technical challenges of cyber risk management, all on one easy-to-use platform.”
Future Company Goals
What are some of the company’s future company goals? Hariprasad concluded:
“Ultimately, we aim to reshape how all enterprises approach cybersecurity. With the right approach, it will become more about partnership and community and fostering a sense of shared responsibility. We’ve seen tremendous results in our first three years, and we know that we are on to something. Now, it’s about executing on this vision and growing our Cyber Resilience approach into a global movement.”
