Photo - OptIQ.AI
62620

OptIQ.AI

USA, California
Market: Internet and IT
Stage of the project: Operating business

Date of last change: 30.09.2024
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Idea

OptIQ is a data security copilot built on a large language model that identifies and classifies sensitive data and analyzes user behavior to detect misuse and exfiltration 10x faster.

Current Status

We have achieved $600,000 in ARR till now. In the last two quarters, we’ve signed with a publicly traded Enterprise, 3 Fintech Unicorns, and a dozen hyper-growth businesses, achieving 58% QoQ growth. Just last month, we closed a $100K contract with PayU, and our partnership with Infosys is in its final stage, opening a potential $5M ARR.

Problem or Opportunity

Data volumes are increasing across Cloud and SaaS. Traditional data classification tools like OneTrust and Varonis have false positives> 20%, take an average of 6 months to provide value, and are unable to classify data accurately for the health tech industry, and pharmaceutical industry.
Most of the modern DSPM tools only allow static policies for data misconfiguration, misuse, and exfiltration. Sensitive data movements across Cloud and SaaS are not monitored effectively in enterprises which contributes to a staggering 226-day mean time to detect (MTTD) in a data breach.

Solution (product or service)

OptIQ classifies financial, pharmaceutical, and medical data with less than 1% false positives, covering structured/unstructured data, images, blobs, and microservices via our LLM-powered engine. Our AI-driven UEBA detects suspicious data movements across Cloud and SaaS, correlating events from cloud and endpoint logs for complete data visibility. With our LLM-powered CoPilot, security engineers can investigate incidents using natural language and build remediation workflows efficiently.

Business model

Our revenue comes from two major sources:
1. Direct Sales: We have set up an SDR team that generates the leads via multiple channels like cold emails, LinkedIn outreach, and hosting private events for CISO.

2. Marketplace: We have established strong partnerships with compliance companies such as Vanta, Scrut Automation, and Control Case. We receive the majority of our leads through the Marketplace from companies seeking Data Security Tools during their compliance journey for PCI-DSS, HIPAA, GDPR, CCPA, SEBI.
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