NYC Tech Overview + Socure by Johnny Ayers

  • 488 views
Uploaded on

Johnny Ayers presented this deck at the April Loyola Venture Community meeting. It goes over the NYC tech scene and into depth on their social biometric project: Socure.

Johnny Ayers presented this deck at the April Loyola Venture Community meeting. It goes over the NYC tech scene and into depth on their social biometric project: Socure.

More in: Technology , Business
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Be the first to comment
    Be the first to like this
No Downloads

Views

Total Views
488
On Slideshare
0
From Embeds
0
Number of Embeds
2

Actions

Shares
Downloads
4
Comments
0
Likes
0

Embeds 0

No embeds

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
    No notes for slide

Transcript

  • 1. Loyola  Venture  Community   Johnny  Ayers     Co-­‐Founder  &     Director  of  Business  Development   Socure    
  • 2. NYC  TradiBonal  Industry  Overview   •  Finance   •  Real  Estate   •  Fashion   •  AdverBsing   •  Law   •  And  more  recently...  technology  
  • 3. NYC  Tech  Investment     surpasses  Mass.  in  2010  
  • 4. And  conBnues  to  grow  
  • 5. Majority  of  deal  flow  in  Seed/Series  A  
  • 6. ExciBng  Bmes  indeed!   •  The  number  of  technology  jobs  climbed  from  33k  in  2003   to  52.9k  in  2012     •  Mayor  Bloomberg  names  Cornell  University  and  the   Technion-­‐Israel  InsBtute  of  Technology  the  winners  of  his   Applied  Sciences  NYC  iniBaBve  over  Stanford  and  others  in   December  2011   •  Cornell  NYC  Tech  campus  has  aYracted  over  $500  million  in   private  funds   •  The  school  launched  its  “beta”  class  of  7  students  this  year   in  Chelsea  office  space  donated  by  Google    
  • 7. A  quote  from  Bloomberg’s   commencement  speech  at  Stanford   •  “Now,  we  had  hoped  that  Stanford  itself  might  help   lead  our  tech  boom  in  NYC.  That  didn’t  work  out  –  no   hard  feelings-­‐  but  I  think  in  the  end,  it  will  because  I   believe  that  more  and  more  Stanford  graduates  will   find  themselves  moving  to  Silicon  Alley,  not  only   because  we’re  the  hoYest  new  tech  scene  in  the   country,  but  also  because  there’s  more  to  do  on  a   Friday  night  than  go  to  the  Pizza  Hut  in  Sunnyvale  and   you  may  even  be  able  to  find  a  date  with  a  girl  whose   name  is  not  Siri.”  
  • 8. About  me   •  Raised  in  VA,  educated  in  Boston,  live  in  NYC   •  AYended  Boston  College   –  BS  in  Finance,  MS  in  Finance     •  Started  career  at  IBM  as  a  Senior  Consultant  in  their   Business  AnalyBcs  and  OpBmizaBon  group   •  Co-­‐Founder  &  Director  of  Business  Development  at  Socure   •  www.linkedin.com/in/johnayers1/   •  Big  fan  of  visiBng  new  countries,  playing  basketball  and   squash  and  watching  BC  Football    
  • 9. Socure     •  Raised  $2M+  in  seed  funding  from  NYC  venture  groups  and   individual  investors       •  Socure  has  built  an  arBficial  intelligence  system  called  Social   Biometrics™  that  combines  people’s  online  and  offline  idenBty  data   and  inspects  social  behavioral  paYerns  to  determine  if  a  consumer   is  who  they  say  they  are  online     •  Socure  sells  Social  Biometrics™  APIs  as  an  addiBve  soluBon  to   businesses  directly  and  indirectly,  charging  a  fee  per  API  call   •  Socure’s  customer  base  includes  financial  insBtuBons,  e-­‐payments   providers,  shared  marketplaces  and  e-­‐commerce  sites  both   domesBcally  and  abroad     (c)  Socure  2014.  ConfidenBal  InformaBon.  
  • 10. (c)  Socure  2014.  ConfidenBal  InformaBon.   $21  Billion     was  lost  to  iden0ty  fraud  in  the  US  last  year       Most  fraud  incidents  are  registered  only  when  consumers  report  them  and  most  of   the  Bme  they  don’t  report  so  the  real  losses  are  much  higher  than  staBsBcs  imply.   ©  Scams,  Schems  &  Swindles  report  over  22  years  by  Fraud  Research   Center.org  
  • 11. Fraud  Defense  Landscape   TRANSACTIONAL  FRAUD  CHECKS  –  partnership  opportuni0es   (looking  at  payment  or  click-­‐flow  behaviors  on  websites)     Nice/AcBmize,  Experian/41st  Parameter,  Guardian  AnalyBcs,  Sio  Science,  American   Express/AccerBfy,  ThreatMetrix,  iovaBon,  IdenBtyMind,  ethoca,  MaxMind,  Kount,   EMC/RSA/Silvertail     *  -­‐  EFF’s  PanopBclick  project  tracks  these  companies’  products  as  spyware.  These  companies  have  a  mobile  focus.   SOCIAL  FRAUD  CHECKS  -­‐-­‐  compe00ve   (looking  at  social  behavior)     Socure,  Signifyd,  DemystData,  Trustev,   Trulioo   MALWARE  FRAUD  CHECKS  -­‐-­‐  partnership   opportuni0es   (looking  for  viruses,  trojans,  phishing  and   other  malware  behaviors  on  websites   and  devices)     IBM/Trusteer,  ThreatMetrix,  FireEye,   Symantec,  Intel/McAfee,  CA   (c)  Socure  2014.  ConfidenBal  InformaBon.  
  • 12. Market  Opportunity   (c)  Socure  2013.  ConfidenBal  InformaBon.   Total  Available  Market   Serviced  Available  Market*   $67.2B   $30B   $4.6B   $6.6B   $97.2B   $11.2B   *Based  on  2013  10K  filings  for  relevant  lines  of  business  
  • 13. (c)  Socure  2014.  ConfidenBal  InformaBon.   Most  US  financial  ins0tu0ons  have  ineffec0ve   an0-­‐fraud  controls   ©  Faces  of  Fraud  2012  report  by  iSMG  fraud  survey   ©  Faces  of  Fraud  2012  report  by  iSMG  fraud  survey   ©  Faces  of  Fraud  2012  report  by  iSMG  fraud  survey  
  • 14. (c)  Socure  2014.  ConfidenBal  InformaBon.   Socure  Social  Biometrics™  is  superior  to  tradi0onal   iden0ty  fraud  defense   ? Blacklist   DB   Credit  DB   MarkeBng   DB   IdenBty  verificaBon  with   tradiBonal  fraud  detecBon  tools   against  offline  DBs  might  result  in   stale  or  inaccurate  results  for   various  markets   Nearly  30%  of  the  world’s   populaBon  uses  Social  Media  and   pass  real-­‐Bme  signals  that   improves  the  fidelity  of  exisBng   fraud  prevenBon  soluBons   Combining  network  effects  such  as   aYestaBon  from  social  connecBons  and   people’s  unique  social  behavior   paYerns  with  online  and  offline  idenBty   cross-­‐referencing  makes  Social   Biometrics™  verificaBon  more  robust  
  • 15. (c)  Socure  2014.  ConfidenBal  InformaBon.   Socure  Social  Biometrics™  In  Opera0on   ? NEW  CUSTOMER   ✔ VERIFIED  CUSTOMER   TradiBonal  fraud  tools  perform   poorly  when  there  is  no  historical   data  for  customers.  Socure  adds   predictors  to  exisBng  fraud  tool’s   logisBc  regression  models   improving  performance  
  • 16.   §  We  sell  APIs  as  products  directly  and  indirectly   to  large  and  mid  Ber  enterprises   §  We  have  a  financial  insBtuBon  and  e-­‐commerce   focus  (expanding  to  federal  government,   healthcare  and  retail  verBcals)   §  We  make  money  every  Bme  our  APIs  are  called   by  businesses  as  their  customers  register  new   accounts,  login  and  pay  or  send  money   §  Different  APIs  have  different  price  points  starBng   at  $.50  list  to  a  few  cents  with  volume  discounts   §  Served  market  bears  between  $1  -­‐  $5  per  call,  so   there  is  room  for  revenue  opportunity  growth   §  Product  is  being  used  both  as  a  stand-­‐alone   soluBon  replacing  compeBBve  products  and  as   an  addiBve  predictor  to  improve  exisBng  fraud   system  performance   (c)  Socure  2014.  ConfidenBal  InformaBon.   Business  Model   6%   56%   38%   Revenue  Projec0on  Breakdown   Re-­‐seller  Partner   OEM  Partners   Direct  Sales  
  • 17. QuesBons?   •  Feel  free  to  email  me  any  addiBonal  quesBons   you  might  have  –  Johnny@socure.com   •  And  thanks  for  having  me!