Two firms in the cybersecurity sector, one of which is based locally, recently launched auditing software platform Audora. (Images courtesy of Hive Systems)
A local cybersecurity company is plugging into a new revenue stream by jumping into the software business.
Hive Systems has rolled out Audora, its first subscription-based auditing software program intended to help cybersecurity auditors do the work of reviewing their clients’ policies.
The introduction of Audora is new ground for Hive, which was founded in 2018 and offers cybersecurity consulting services, including phishing simulations and ransomware readiness. Hive’s clients include companies like insurer Anthem, software company Workday, Bartlett Tree Experts and Amazon Web Services.
Hive co-founder and CEO Alex Nette said it’s common for a cybersecurity audit to involve a barrage of emails and spreadsheets between the auditing firm and its client, and while the system is functional, Nette felt there was room to improve the workflow.
“It gets the job done, but it’s disjointed and uses a hodgepodge of technologies,” said Nette, who added that he learned of the problem by way of the interactions his company has had with clients working through audits.
Alex Nette
“One problem we recognized is for companies, the experience of going through these cybersecurity audits is not great for them,” Nette said. “As we did market research, we found the real problem was the back and forth.”
Audora was designed to be a streamlined system for auditors to manage audits, collect documentation and create reports. Nette added that while there are programs on the market that are similar to Audora, he felt there was room for a new take on the idea.
The system, which was in development for about a year, officially launched last week after a soft launch in late 2023.
Audora is sold to other companies on a subscription basis. Nette said that an auditing firm that conducts 10 audits a month would be charged between $5,000 to $10,000 per month to access Audora.
Audora is a joint partnership between Hive and Kansas-based auditing firm Barr Advisory, which Nette said is one of a “handful” of firms that use Audora.
The two companies split revenue generated by subscriptions to Audora. Together they financed the project but Nette declined to share how much was invested to develop the program.
Nette said the two firms were able to bring different skill sets to build the program, with Hive providing the perspective of a consulting firm while Barr was able to draw on its experience in auditing companies’ cybersecurity. Hive and contracted developers handled the software development of Audora.
Looking forward, Nette said the goal is to lock down 50 subscribers for Audora in 2024.
Hive is based locally but has a fully remote team. Nette said the company is looking for a physical office space in the area to move into. The company has nearly 20 employees.
Two firms in the cybersecurity sector, one of which is based locally, recently launched auditing software platform Audora. (Images courtesy of Hive Systems)
A local cybersecurity company is plugging into a new revenue stream by jumping into the software business.
Hive Systems has rolled out Audora, its first subscription-based auditing software program intended to help cybersecurity auditors do the work of reviewing their clients’ policies.
The introduction of Audora is new ground for Hive, which was founded in 2018 and offers cybersecurity consulting services, including phishing simulations and ransomware readiness. Hive’s clients include companies like insurer Anthem, software company Workday, Bartlett Tree Experts and Amazon Web Services.
Hive co-founder and CEO Alex Nette said it’s common for a cybersecurity audit to involve a barrage of emails and spreadsheets between the auditing firm and its client, and while the system is functional, Nette felt there was room to improve the workflow.
“It gets the job done, but it’s disjointed and uses a hodgepodge of technologies,” said Nette, who added that he learned of the problem by way of the interactions his company has had with clients working through audits.
Alex Nette
“One problem we recognized is for companies, the experience of going through these cybersecurity audits is not great for them,” Nette said. “As we did market research, we found the real problem was the back and forth.”
Audora was designed to be a streamlined system for auditors to manage audits, collect documentation and create reports. Nette added that while there are programs on the market that are similar to Audora, he felt there was room for a new take on the idea.
The system, which was in development for about a year, officially launched last week after a soft launch in late 2023.
Audora is sold to other companies on a subscription basis. Nette said that an auditing firm that conducts 10 audits a month would be charged between $5,000 to $10,000 per month to access Audora.
Audora is a joint partnership between Hive and Kansas-based auditing firm Barr Advisory, which Nette said is one of a “handful” of firms that use Audora.
The two companies split revenue generated by subscriptions to Audora. Together they financed the project but Nette declined to share how much was invested to develop the program.
Nette said the two firms were able to bring different skill sets to build the program, with Hive providing the perspective of a consulting firm while Barr was able to draw on its experience in auditing companies’ cybersecurity. Hive and contracted developers handled the software development of Audora.
Looking forward, Nette said the goal is to lock down 50 subscribers for Audora in 2024.
Hive is based locally but has a fully remote team. Nette said the company is looking for a physical office space in the area to move into. The company has nearly 20 employees.
Thanks Jack! You can learn more about how Audora can help your audit firm accelerate your cybersecurity audits at http://www.goaudora.com!
You can also learn more about the world of cybersecurity with Hive Systems at http://www.hivesystems.io