Preview Mode Links will not work in preview mode

Corporate executives, entrepreneurs and authors discuss corporate finance strategies, growth tactics, leadership journeys and other management topics to drive value creation. 

Mar 1, 2024

Mike Starr, founder and CEO of Trackd, discussed how he and his team help customers minimize vulnerabilities.

 

Show Notes

[01:20]  Mike provided a brief overview of his background.  Before launching trackd, Mike worked at the homeland security department and another startup. Most of the groups he worked in the government were mission focus (i.e. not bureaucratic in terms of execution and operation).

[04:00]  Mike discussed how he got the idea for trackd.  Mike believes that there is better way to deal with updating routers and firewalls.  Trackd is in the vulnerability and patch management space and focuses on the human condition of fear.

[07:51]  Mike took a deeper dive on the vulnerability management and the market opportunity.  There are typically 2 teams in organizations dealing with vulnerabilities.  One of trackd's goals is to bring these 2 teams together.  The market size is estimated to be $15 billion (vulnerabilities remediation, not including post breach spending).

[09:09]  Mike continued on the market opportunity.  There has been no real innovation in the space since the nineties when scanners came out.  The assumption is that lack of the technology is the reason that people don’t patch (averaging 200+ days for patch) which is not true.

[12:28]  Trackd's mission is to make patch quicker.  Trackd's team found that less than 2% of patches are ever rolled back.  Trackd will help customers determine what is safe and how to auto patch based on customers’ level of risk tolerance.

[17:07]  Mike shared his experience on fund raising which he believes is similar to dating.  Mike advised other founders to focus on warm intros.

[32:44]  Mike discussed his current area of focus: how to fundraise successfully, how to tell a story successfully and build a sales process that is repeatable successfully.

 

Book mentioned on the show

The Way of Kings: Book One of the Stormlight Archive by Brandon Sanderson

https://www.amazon.com/gp/product/0765326353?ref_=dbs_m_mng_rwt_calw_thcv_0&storeType=ebooks

 

 


Resources:

https://trackd.com/

 

 

Stay Updated:
Please visit Brio360 on other episodes and resources on driving value creation
https://brio360.com

Follow our host:     
https://linkedin.com/in/peterhocm

 

Please note that information provided in the podcast is for informational and educational purposes only and is not a recommendation to take any particular action, nor an offer or solicitation to buy or sell any securities or services presented. It is not investment advice. Brio360 does not provide legal or tax advice.