How We Built the First Cybergovernance Platform
The Opportunity and the Team
In December 2014, my former CEO Mike Shultz called about a developing opportunity. The SEC was holding corporate directors personally liable for cybersecurity breaches if they hadn’t exercised “prudent business oversight” beforehand. Mike wondered if we could combine a software platform with litigation insurance to protect the directors. Since together we had crafted a successful exit strategy that led to Infoglide Software’s 2013 acquisition by FICO, I suggested, “Let’s partner on this one!”
In April, UT McCombs student Charlie Leonard contacted us after finding our Texas CEO article on cybersecurity. He had focused on the cybersecurity industry for two years during his MBA program and had formed a company to address the same problem. When he found us in a Texas CEO article, he reached out to see if we’d talk with him about applying his knowledge and skill set at Cybernance. After only a short time with Charlie, we invited him to become a co-founder!