NEWPORT BEACH, Calif., May 30 /PRNewswire/ — PivX Solutions today presented the business model for Invisiwall, the company’s patented network intrusion security system, to more than 60 venture capitalists attending VentureNet 2001 (http://www.venturenet.org), the premier capital conference for software, Internet, biomedical, optical or wireless companies with a strong software component.
The Invisiwall(TM) system, with its proprietary hardware and artificial intelligence (AI) software, provides the first line of network defense. According to 18 year-old whiz kid CTO and Co-founder Geoff Shively, “A key benefit of the PivX solution is having a device that is invisible on the network … because a would-be hacker cannot see Invisiwall, it cannot be attacked.”
It was recently reported that 85% of large corporations and government agencies have detected computer security breaches within the past 12 months, and 64% acknowledged financial losses, according to CSI. In one 48-hour period last year denial of service attacks (DoS) cost eBay, Amazon, and several other high profile web sites an estimated $1.2 billion in lost revenues. Fortune 1000 companies lost an estimated $45 billion to theft of proprietary information last year alone, according to ASIS.
It is not surprising then that senior IT professionals expect fraud detection and the prevention of malicious cyber attacks to be their top priority by the end of next year, according to the Communications Management Association (CMA).
Security software revenue will grow from its current rate of $4 billion annually to $11.3 billion by 2004, a delectable 70% annual growth, according to IDC. This is being driven by outsourced IT spending, estimated to reach $123 billion this year, with hundreds of 25,000 to 100,000 square-foot data centers being built annually to service the increasing demand for offsite data access.
The Invisiwall system is designed to protect such data centers, including co-location and managed hosting facilities, as well as the many corporate data centers and private exchanges in operation today. Placed in its undetectable position in front of a firewall, the Invisiwall device monitors all network traffic, looking for intruders such as hackers conducting denial of service and other attacks. When PivX’s Artificial Intelligence (AI) software and forensic security experts detect suspicious activities, the attackers are blocked within seconds.
The bottom line on Invisiwall: hackers can’t hack it if they can’t see it.