Riptech

Riptech, Inc. operated as a provider of managed security services, carving a niche in the cybersecurity landscape before its acquisition. Founded in April 1998 by brothers Amit and Elad Yoran, along with Tim Belcher, the firm emerged from a background of Department of Defense security expertise. The company's business was centered on providing comprehensive, real-time security monitoring and management for enterprise networks. Its target clients included large corporations, e-businesses, and government agencies, boasting a significant portfolio that included 55 of the Fortune 500 companies across 30 countries.

The company's revenue model was based on delivering outsourced security solutions, which allowed clients to forego the expense and complexity of maintaining large in-house security teams. This was accomplished through a global network of Security Operations Centers that operated 24/7. A core component of Riptech's service was its proprietary Caltarian technology platform. This system was engineered to collect and normalize vast amounts of network security data, enabling analysts to distinguish genuine security threats from false positives in real-time. Beyond continuous monitoring, Riptech's Security Professional Services group offered security policy development, penetration testing, and incident response.

The company secured significant venture capital, raising a total of $46 million from investors such as Columbia Capital, Providence Equity, and Jefferies. This funding fueled its growth and technological development. In a strategic move to bolster its own managed security services, Symantec Corp. (now Gen Digital) acquired Riptech in August 2002 for approximately $145 million in cash. At the time of the acquisition, Riptech had established itself with over 500 customers and a strong reputation, particularly in the financial services, healthcare, and telecommunications sectors. Following the acquisition, co-founder Amit Yoran transitioned to a role as vice president at Symantec.

Keywords: managed security services, network security, cybersecurity, threat monitoring, information security, Security Operations Center, SOC, Symantec acquisition, Amit Yoran, Elad Yoran, Caltarian, security monitoring, penetration testing, incident response, vulnerability management, enterprise security, network management software, real-time protection, security auditing, information protection