Investor Dashboard
Key financial KPIs at a glance — % against revenues in QuickBooks-statement style.
Revenue Mix · % of Top Line
Cost Structure · % of Operating Cost
Use of Funds · % of $35M Raise
Problem & Solution
82% of breaches involve identity — the gap legacy EDR can't close
The Problem
82% of breaches involve compromised identities — Okta tokens, AD service accounts, OAuth tokens — but existing EDR and SIEM tools weren't built to detect identity-layer threats. Average dwell time for identity compromise: 197 days. Detection gap creates the single largest enterprise security exposure of 2025–2030.
Our Solution
A purpose-built ITDR platform that ingests identity signals from 40+ identity providers (Okta, Azure AD, Workday, GitHub), correlates with endpoint and SaaS activity, and runs ML detection for anomalous identity behavior. Median detection: 4 hours vs 197 days industry baseline.
Market Opportunity
$28B ITDR + IAM Security addressable today
ITDR sub-segment growing 41% CAGR through 2028 — fastest in cyber
Annual per-identity subscription ($24–$60/identity/yr) + premium incident response retainer ($50K–$500K). Tiered packaging by detection depth. ~88% gross margin; 142% net dollar retention.
Financial Statements · % vs Revenue
QuickBooks-style readout — every line shown as percentage of its parent total.
Revenue Mix
| Revenue Stream | % of Revenue | Share |
|---|---|---|
| Platform Subscriptions | 75.0% | 75% |
| Premium IR Retainers | 15.0% | 15% |
| Professional Services | 6.0% | 6% |
| Marketplace Integrations | 4.0% | 4% |
| Total Revenue | 100.0% | 100% |
Cost Structure
| Cost Line | % of Cost | Share |
|---|---|---|
| Engineering & Threat Research | 42.0% | 42% |
| Enterprise Sales | 28.0% | 28% |
| Customer Success & SE | 12.0% | 12% |
| Cloud Infrastructure | 8.0% | 8% |
| Compliance / SOC 2 / FedRAMP | 5.0% | 5% |
| G&A | 5.0% | 5% |
| Total Operating Cost | 100.0% | 100% |
Use of Funds — $35M Raise
| Allocation | % of Raise | Share |
|---|---|---|
| Enterprise Sales Expansion | 40.0% | 40% |
| Engineering & Research | 30.0% | 30% |
| EMEA & APAC GTM | 18.0% | 18% |
| FedRAMP Compliance | 8.0% | 8% |
| Working Capital | 4.0% | 4% |
| Total Use of Funds | 100.0% | 100% |
Traction & Proof Points
- $15M ARR · 38 Fortune-1000 customers · 4 of top-10 US banks
- 142% NDR · 0.8% gross logo churn · 12-month CISO replacement rate <3%
- Median identity-threat detection: 4 hours (Mandiant baseline: 197 days)
Moat & Exit Strategy
Defensible Moat
Proprietary identity-threat detection models trained on 4B+ identity events/day from 38 Fortune-1000 customers — competitors with smaller deployments can't reach equivalent precision. Deep integrations with 40+ identity systems create switching costs. FedRAMP / SOC 2 Type II compliance is a 12–18 month barrier for new entrants.
Exit Path
Strategic acquisition by Palo Alto Networks, CrowdStrike, Microsoft, or a cyber consolidator at 12–18x ARR — typical late-stage cyber exit. IPO path open at $200M+ ARR with sustained 60%+ growth.
Key Risks
- Identity-provider (Okta, Microsoft) bundling native ITDR — partner-vs-competitor risk
- Enterprise budget compression delaying sales cycles in downturn
- Talent retention in highly-competitive cyber engineering market