Tech
Here’s an exclusive look at the pitch deck the creator of Chase QuickDeposit used to raise $3.25 million in seed funding for his cybersecurity startup, Aceiss
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- Aceiss raised a $3.25 million seed round from investors including Canaan and Insight Partners.
- The startup helps companies prevent data breaches that can cost millions of dollars in damages.
- Aceiss’ founder created Chase QuickDeposit, and counts former Goldman exec Gary Cohn as an advisor.
Companies have struggled with the complicated task of monitoring and controlling user access to prevent devastating data breaches, especially with the rise in remote or hybrid work.
Data breaches in 2022 cost companies a whopping $4.35 million on average, according to an IBM report, and 82% of them arise from human elements such as phishing, stolen credentials, or simply human error.
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Cybersecurity company Aceiss aims to solve this problem. The startup recently raised $3.25 million in seed funding from investors including Canaan, Insight Partners, and Connecticut Innovations.
Aceiss helps companies monitor and manage who has access to their internal systems. Over time, Aceiss can recognize behavior patterns and flag abnormal behavior, such as an employee accessing company systems from an unusual location or time.
User access data that Aceiss surfaces can then feed into other cybersecurity technologies.
“We’re not seeking to compete with those products and platforms that are out there,” said Lloyd O’Connor, Aceiss founder and CEO. “Aceiss actually helps companies monetize the investments they’ve made in other tools.”
O’Connor, the former managing director of client technologies at JP Morgan Chase, said that he first realized the need for technological innovation within enterprises while creating Chase QuickDeposit, the bank’s mobile check deposit offering. Cybersecurity, he says, is now the new frontier for tech disruption, as consumers place increasing importance on customer data security.
Aceiss plans to release their cybersecurity platform in conjunction with their $3.25 million seed round announcement. Canaan, who led the round, will be contributing general partner John Pacifico to the startup’s board. This addition builds on Aceiss’ docket of investors and advisors, which includes Gary Cohn, former COO and president of Goldman Sachs.
Here’s an exclusive look at the 8-page pitch deck Aceiss used to raise $3.25 million in seed funding:
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