GlobalCrypto is an ATDC company that provides cryptographic Web security software. CEO Todd Merrill had a last-minute conflict with our video taping session, and Frank Maiolo, VP Engineering, graciously volunteered to speak about the business.
GlobalCrypto uses a process known as steganography to conceal cryptographic information inside images. The form of “security through obscurity” dates to ancient Greece and relies on the fact that a casual observer has no reason to suspect the presence of an encrypted message. The company provides the only bi-directional, multi-factor, image-based Public Key Infrastructure (PKI) solution available today. Or, as Maiolo describes it, it’s like hiding a message in a picture, tearing it in half, and then matching the halves to allow the recipient to decode the meaning.
Here are some of the problems solved by GlobalCrypto:
- Authentication – addresses compliance requirements in a variety of regulated industries by delivering true two-factor authentication that is easily implemented
- VPN access – supplants costly tokens/cards for employees in corporate IT settings
- Web single sign-on – eliminates need for multiple passwords, therefor enhancing employee productivity and streamlining IT administration
- Digital signing – provides a secure environment to confirm agreements online and prevent repudiation
- Content protection – prevents unauthorized viewing, downloading and distribution of valuable web content
- Fraud – greatly reduces phishing and man-in-the-middle attacks
GlobalCrypto’s revenue model follows a typical software license pattern, fee plus user or transaction charges and accompanying professional service charges. The company also has a SaaS offering priced with a setup fee then per user per month. Both direct and channel marketing strategies are in the works, with financial institutions heading the list of prime targets.
The company has filed US and International Patents and closed its first customer deals. Merrill and Maiolo are joined on the management team by Paul Lundy, Chief Marketing and Sales Officer. These gentlemen have “done the math” and are delivering a very usable solution for complex and important problems in organizations of all sizes.
