SimSpace, an established leader in cyber ranges supported by the US Government, has publicised the strategic positioning of Clint Sand as the company's new Chief Product Officer (CPO). This announcement emerges in the wake of SimSpace's December $45 million funding round. The appointment aims to respond to the escalating corporate demand for military-grade cybersecurity as the global environment teeters under constantly rising cyber threats.
Following recent findings demonstrating a soaring average cost of cyber breach at 3.2 million dollars, businesses have found themselves targeted by nation-state tactics traditionally used in warfare for extortion and hindrance of critical UK infrastructure. SimSpace has a robust client portfolio, engaged in working with four of America's top five banks, as well as listed enterprises across the globe, offering vigorous stress test mechanisms for their cyber system integrity via state-of-the-art technological anomalies developed at the renowned US-based Lincoln Laboratory.
The strategic appointment of Clint Sand is primarily aimed at bolstering SimSpace's product management, content, design, and platform engineering departments. The company, leveraging the advantages of AI and ML-based platforms, seeks to broaden and deepen its unique, battle-tested cybersecurity platform for the broader enterprise market. This will optimise security operations for businesses of all sizes and varied sophistication levels, facilitating maximum risk management.
In light of the average cost of a cyber breach escalating to 3.2 million, Regulators and insurers worldwide have primed focus on Governance, Risk and Compliance Metrics hoping to ensure the security of critical private and public sector entities. The SimSpace platform offers customers the unique advantage to withstand severe cyber incidents while identifying opportunities to bolster security controls and optimise their security spending. Mr. Sand will lend his guidance to the evolution of SimSpace's cyber force platform, enabling clients to regularly stress test and optimise their tools and spending in a safe high-fidelity replica of their everyday defended systems.
With more than three decades of industry experience in cybersecurity products at corporations such as Malwarebytes, NortonLifelock, and Corelight, Mr. Sand brings onboard invaluable skills and insights. He has been instrumental in serving the needs of sophisticated defenders and has successfully delivered innovative Saas offerings and advancements in AI.
The appointment has been located in tandem with SimSpace's $45 million equity raise last year. CEO and co-founder William Hutchison expressed his anticipation of the move stating, "Clint joins the SimSpace C-suite with a proven track record of supporting the commercial growth initiatives of large companies. His appointment will serve to strengthen the product portfolio of our customers. The SimSpace executive team is looking forward to working with an engineer of Clint's calibre for expanding into new markets."
The newly appointed leader, Sand, took this opportunity to express his delight, articulating, "SimSpace, armed with well-tested, complex network simulation techniques combined with new advancements in AI, is uniquely positioned to drive innovation in threat hunting. I am thrilled to be at the epicentre of product development. I hope to provide customers with the data, analytics, and insights that will drive our top line through our subsequent growth phases."