I Think Security Ltd., a data security startup based in Waterloo, Ont., is launching a new security solution that aims to protect businesses’ data on desktops, on mobile devices, and in the cloud – all with one solution.
Based in Waterloo, Ont., I Think Security Ltd. was founded in 2010, when Jeannot moved to the city to put the startup through Accelerator Centre, a local incubator. Before LOQ, the company created Qi, a secure USB drive that allows users secured access to their files on public or untrusted computers.
LOQ takes that concept further, allowing workplace employees to put data on any media, including email, a USB key, in the cloud, or on-premise. It then adds both AES-256 encryption and a Secure Sockets Layer tunnel, preventing hackers from gaining access to valuable data.
“Our goal for us is to secure information. I don’t care where you are, I don’t care what device you use, I don’t care what you do with it. It should be secure, and it should be as transparent as possible so there’s no pushback from the user,” says Cédric Jeannot, CEO and founder of I Think Security. “You do whatever you do normally, but securely.”
Beyond encrypting data across devices, LOQ also provides a secure channel designed to allow employees to transfer data from one desktop to another, something that Jeannot and his team have termed a “reverse virtual private network.” This ensures all documents reach the right recipients and remain encrypted to anyone looking to intercept them.
For companies looking to comply with a specific country’s laws about where data can be stored, I Think Security has data centres in 10 different countries, including Europe and North America. That allows the company to help its customers keep their data in the right jurisdictions and comply with their laws.
The solution should be easy to deploy, with individuals downloading it and installing it in a few minutes, without the need to hire any outside consultants or managed services to run it. There is also a web dashboard available for IT administrators who need to monitor a fleet of computers and devices.
LOQ also allows administrators to monitor when and where files are accessed, as well as seeing which devices employees are using to access them. It provides real-time notifications, versioning, and audit trails.
While LOQ’s primary target customers would be banks and other large financial institutions, there’s also room for an SMB play, says After all, organizations of all sizes need to secure their data across devices and in the cloud, he points out.
Other features of LOQ include geo-fencing and device restrictions, preventing employees from being allowed to do things like take screenshots from their mobile devices. That way, corporate data doesn’t get leaked through human behaviour – especially as the bring-your-own-device trend only becomes more popular.
Pricing for LOQ starts at around $10,000 each month and can go up to about $60,000 per month, depending on the features and packages that customers want, Jeannot says.