The Washington Post has published a detailed article on Fishtech’s strategic investment in Haystax Technology, which was announced this morning. Fishtech, led by Gary Fish, a Kansas City-based entrepreneur and investor, will help Haystax to find new business opportunities within the burgeoning security-analytics market and to be a partner in the digital transformations now sweeping many sectors of the economy.
Powered by its patented model-driven analytics approach, Haystax has developed an insider-threat solution that can be applied to an array of cases, such as identifying employee theft of confidential data or risky financial trades. The Haystax solution analyzes and prioritizes information from a wide variety of sources, using a probabilistic model and other analytic processes to weigh whether someone is becoming more or less trustworthy over time. In so doing it can rapidly pinpoint an organization’s greatest threats even if the indications are hard to detect, and without generating excessive ‘false positives’ found in conventional data-driven technology solutions.
The Post article notes that Haystax has received early interest from financial institutions worried about insider threats, and has deployed analytic solutions in large corporations, such as National Australia Bank, to address various forms of risk.
The new partnership will allow Haystax Technology not only to continue growing within the cybersecurity space, but to expand its offerings into new markets. The article notes that Fish’s plan is to invest in “security companies whose technology platforms can work in tandem, allowing them to sell to the same customers when appropriate.” Fish is quoted as saying: “We have a broad portfolio of customers that we can introduce these companies to. They can graft off each other and introduce each other to their customers as well.”