The following commentary appeared on BizJournals.com on April 18, 2016.
By Dan Norton
A Baltimore cybersecurity startup was the winner of a Philadelphia pitch competition held on Friday.
RedOwl was one of nine startups to present at the Phorum’s Demo Pit, held during the Philadelphia Alliance for Capital and Technologies’s spring event.
The Demo Pit, as Phorum called it, was a contest for brand recognition as much as anything else. There was no cash prize, although last year’s winner Tesorio, has gone on to thrive in Y-Combinator, a prestigious Silicon Valley accelerator.
RedOwl specializes in detecting and protecting against internal system threats. The company’s software tracks employee activity on company databases to identify suspicious activity or changes in behavior that may indicate a threat.
During RedOwl’s presentation, it categorized several different types of employees and how they could be cancerous to a business. They included:
- Entitled Insider
- Blackmail Developer
- Internal Activist
- Careless Manager
- Unknowing Accountant
- Disgruntled Employee
RedOwl beat out some Philadelphia-based companies, including Boxter, a SaaS startup that’s created a comprehensive analytics platform for online businesses; Cloudamize, an analytics company the helps companies maximize their investments in cloud computing, and PeopleLinx, which markets its social selling platform.
The other companies that competed in the Demo Pit were AlphaPoint, a fin-tech startup that powers digital asset exchanges; DryDock, which provides a mobile platform that helps engage field sales people; MLeads, a SaaS platform for leads and event management process automation; OpsDataStore, a startup that combines streams of data into real-time topologies; and Pneuron, a platform that aims to solve business problems by deploying a noninvasive fabric to build, deploy and execute intelligent workflows.
The contest was judged Ian Gallagher, the regional director of marketing for Comcast Business; Nate Lentz, a managing partner at Osage Ventures; and Brock Weatherup, a managing partner at Atai Ventures and the president of Philly Startup Leaders.
Each company only had about two minutes to make their pitch, and then a few more minutes to answer additional questions from the judges.
RedOwl, located in Federal Hill, has raised $30 million.