BeyondID Reports 5th Consecutive Year of Record Revenue Growth

The Problems Companies Face 

  • Between 2019 and 2021, account takeover attacks grew by more than 300 percent.
  • Business email compromise accounted for roughly half of all fraud-related financial losses, to the tune of an estimated $2.7 billion dollars.
  • By 2021, account takeovers were responsible for 20-percent of all data breaches in the US.
  • At the same time, nearly a quarter of identity-related fraud in North America was related to account takeovers.  

Identity is Our Obsession

At BeyondID, we’re known for our ability to deliver services and innovations that modernize and secure customer environments. From out of the box integrations, to our custom Epic connector for healthcare experiences, our aim is to understand your environment, gauge your desired user experience, and make it a reality.  

What’s Next?

One of the most common questions we get from our customers is, “What happens after we’re done? We’ve done all this work, now what?” The answer: BeyondID’s Virtual Secure Operations Center (VSOC).

BeyondID established a VSOC to answer this question. As a managed identity services provider (MISP), we engage with teams both during and post-implementation to support and enhance your environment and user experience. As an identity threat detection and response (ITDR) provider, we monitor your environment 24/7 to contain and respond to malicious and suspicious events.  

With VSOC, BeyondID deploys various tools and technologies to gain visibility into our customer environment. We track hundreds of thousands of events daily and with a combination of automated alerts, machine learning, and behavior analytics, we can quickly identify real or potential threats to any environment. With our skilled team, we can then contain and respond to the threat on your behalf.  

We recently partnered with a customer that had, unfortunately, experienced a breach. This event was the catalyst for their Okta migration. The customer chose Okta to secure their environment and brought in BeyondID to deploy and maintain their newly acquired service. We had them up and running on Okta in less than 60 days and were able to monitor their environment from day one. Upon start-up, we immediately noticed the breach, which had occurred months prior, was still an active threat. We detected near-daily attempts at breaching end-users and admins alike. As bad actors go, these attackers managed to stay low profile enough to not set off any built-in alerts, but Okta had still prevented their attempts to gain access. It would have only been a matter of time until they were successful. Okta’s security policies and our VSOC’s intervention made sure that never occurred. Now, we have been able to continuously block these bad actors and their various attempts.

So what? 

IT uses the analogy of a local traffic enforcement officer; an officer can sit on the side of a major highway and catch a few blatant offenders driving aggressively. But hundreds of thousands of commuters are using that highway each day. It’s an impossible task to catch every single person texting, going just barely over the speed limit, not signaling, tailgating, driving without a license, or driving with expired tags. Your insurance, however, probably has an app that tracks your driving habits. iOS and Android have no text-while-driving features. Apps like Live360 can track members of your family. Your state DOT knows when your registration has expired. These are automated tools that allow total visibility, far beyond what a single traffic enforcer could ever witness.

The VSOC never sleeps 

In the same way you and your local government can use these tools to monitor the safety of our roads, our VSOC can monitor the activity and safety of your digital environment. An individual or group of administrators might be able to catch a few obvious problems, but it’s unrealistic to expect even the best of admins to sort through the hundreds of thousands of events that occur within an Okta environment each day and find the infiltrator. The previous customer example and intervention might not have been possible without the due diligence of the VSOC +Okta.

Erin Moore
Erin Moore

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