Photo - Essert
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Essert

USA, California
Market: Artificial Intelligence
Stage of the project: Operating business

Date of last change: 29.02.2024
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Idea

Essert is a declarative AI-based platform that generates apps for regulatory cyber compliance. We generated enterprise apps for SEC cyber rules compliance and AI governance.

Current Status

We closed $4.75 Million in partner revenue commitments. We have several customers paying, many 3 large logo customers piloting.

Problem or Opportunity

Recently the MGM cyber attack led to $100 million loss. MGM made an 8-K disclosure. SEC's new rules make this disclosure mandatory starting Dec 2023.

Navigating SEC compliance is complex & hard. Too many cyber incidents and too little time to process them for materiality and disclosure.

Companies must comply or risk fines and shareholder lawsuits. Too many delays may result in revocation. The risk of delisting has just increased slightly.

Solution (product or service)

Essert is a SaaS solution for the new SEC cyber rules. Essert automates incident materiality, identifies the risks, triggers security assessments, and more. We started demonstrations in the middle of September and have a few pilots, in motion.

Business model

Our business model is B2B, SaaS.

The distinct model is Partner-led; which implies partners are enabled to sell to enterprises. We expect customers to pay $50-$100K in Annual recurring revenue.

Incubation/Acceleration programs accomplishment

Tampa Bay Wave Cyber Accelerator program.
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