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The world’s first Dynamic Security Solution for mobile applications
EVERSPIN
COMPANY OVERVIEW
Company Everspin Co., Ltd Tel +82 - 2- 782 - 8003
CEO Steve, Ha Location Seoul, Korea
Founded Feb, 2014 Website www.everspin.co.kr
Capital $0.289M Team 15
Industry Security Service
(SaaS based) Eversafe
(APP Protection)
APP Passcode (Certificate) upcoming
Dynamic Encryption
(E2E) Upcoming
Partnership 4 companies Expected Revenue
$1.3M(estimated by 2016.5)+∝(expected number
through sales activity from MAY)
Funds $3.25M Goal Market EUROPE,US -> WORLDWIDE
COMPANY HISTORY
Participate in ITU TELECOM
WORLD 2015 and
DEMO DAY
02 03 2015 05 10 11 01 2016 02 2014 04 05
Firmed EVERSPIN
Passed Financial Security Test of Korean Financial Security Agency
Participate in ITU TELECOM WORLD 2015 and DEMO DAY (Hungary)
Grand prize in Fintech Korea challenge
Chosen as Global K-start up 2015 Raised $1.05M
Minister’s prize from Financial Services Commission
Launched with Check mobile APP
Joint Business
Joint Business
Joint Business
Raised $2.2M
Jury Special prize from FIBC in Tokyo, Japan
06
Participate in Startup Thailand 2016 and DEMO DAY (Bangkok)
Participate in ICT SPRING 2016 and Pitching event (Luxembourg)
Participate in Communic Asia 2016 and Pitching event (Singapore)
Winner of unofficial hacking competition held by Main Bank of Korea competing with domestic and international major security solution companies (9 companies)
INTRODUCTION
▶Server generates countless dynamic security modules and assigns dynamic security modules to application to protect
every time application runs, every 10 minutes during application is on
*Dynamic module has an expiration time, so it is expired within a regular time after protecting an application. A used module is discarded and new module is assigned to the application.
Dynamic modules Keep changing and they are expired within a regular time. We say, it is Dynamic and Secure. => Application is protected by dynamic security modules continuously.
Eversafe : Server-based Dynamic security solution for mobile applications
4. A used module is discarded and it is never reused
2. Every time application runs Every 10 minutes during application is on
1. Generating countless dynamic security modules
3. Assigning security modules to the app
Existing security solution is static
Existing security solution is static.
- Never changes until updating and distributing application again. - Servers of existing security solution are only monitoring security module whether or not being hacked. - If hackers have enough time to analyze, applications will be hacked simply.
Hackers say..
Hmm.. It has same construction from the first. I can analyze its source because it is not changed at all. I have enough time. Too easy.. server
1) Monitoring security module
Security module
Inside application
PROBLEM
Dynamic security solution, Eversafe
Eversafe security solution is Dynamic.
- Each of our security module has different constructions and a used module is discarded and is not reused. - Servers of our security solution assign security modules which have a expiration time and monitor modules whether or not it is being hacked. - Applications are protected by our dynamic security module continuously.
SOLUTION
Hackers say.. Oh!? Is the module expired within a regular minute? No time to analyze the source. WHAT!? A module consists of other modules with different types of sources each. No way! Every time users run apps, their server assigns new security module to protect App.
Unbelievable..
A space inside application for module assignment
server
1) Assigning security module 2) Monitoring security module
1 n
module
FEATURES/TECHNOLOGY
1) Servers generate innumerable dynamic modules 2) Consisting of n other modules with different types of sources in each 3) Module has an expiration time 4) After protecting an application within a regular time, a used module is discarded after protecting applications.
Module Construction Module Function
1. Detect OS forgery and alteration
2. Detect app forgery and alteration
3. Security keypad
4. Prevention of memory forgery and alteration
5. Anti-virus
6. Obfuscation of dynamic module
7. Other security functions
Everspin Patent Patent Name Reference
Dynamic Security Patent System and method to eliminate potential risk factors from application Submitted (2015)
Two-channel Certification Patent Personal certification and payment by mobile device Registered (2008)
2014.04 ~ 2015.03
• 5 more patents related to dynamic security solution
100% Defended
*Final report on Financial Security Test (Mar. 5th, 2015)
Detailed Test Results OS Forgery Detection “Satisfied” Application Forgery Detection “Satisfied”
Debugging Detection “Satisfied”
Security Keypad Detection “Satisfied”
Anti-virus Detection “Satisfied”
CREDIBILITY
3,245 Hacking attempts
*Patents
Passed all the categories of Financial security test as the First and the only one in Korea
Infrastructure size
1st target market
Business entry plan
Financial market
Service market
2nd target market
Marketing strategy
Top – Down After activating our solution business in the financial market, we will head to the service market.
Phase 1. Successful example in Financial industry.
Phase 2. Preparing platform to be spread our solution in Financial industry.
Phase 3. Spreading a platform through
stable business basis
• Passed all categories of Financial Test • Securing infrastructure through partnership
• Starting from a major securities company • Developing a platform with monthly basis for service business.
• Dominating security market through providing secured platforms to service business
- ① 단계적 목표시장 분석 및 확보 기본전략 MARKETABILITY
1) Cloud – based service (server - controlled Dynamic security solution)
2) Tailored solution (Build a server in customer’s IT center)
Business model
Revenue Model
Cloud based service charging system :
(main pricing system)
1) Charging a fee based on actual app users of the
month.
2) Customers do not need to build any system to
apply our solutions
One Time Sales :
1) Selling solution : the price will be decided by
customer size.
2) Annual maintenance cost
(about 15% of selling price)
Note
■Customer payment method
= n(user/monthly) x fee (based on total actual app users of the month)
*FEE is decided depend on Countries, and companies.
BUSINESS MODEL
ACCOMPLISHMENTS
1 Business Joint Business with Koscom (2016.01.13)
Joint Business with Asiana IDT(2016.01.28)
Joint Business with SK infosec (2016.02.02)
Awarded Grand Prize from Fintech Korea Challenge 2015(2015.04.15)
Minister’s Prize from Korea Financial Services commission(2015.12.23)
Jury special Prize from FIBC 2016 Tokyo, Japan(2016.02.25)
Proceed Launched Eversafe with stock trading application of Koscom (2016.01.06)
Launch with 6 securities companies(2016.07)
Launch with non- face to face authentication APP(2016.06)
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3
Steve, Ha CEO
15 professional team members in EVERSPIN
Development Team
Strategy and Planning Team
TEAM
CEO’s History • Bachelor Degree for Electric Engineering at Korea University • Planned and launched mobile barcode payment platform as a first in Korea. • Planned SAMSUNG Smart TV payment • Planned cloud service platform at NHN • Planned N-Drive, N-Portal Biz and business service at NAVER • Examined knowledge assets of NHN and built business model • Lectured “52nd the technical seminar” for fintech, invited as solo-speaker (2015, Ministry of Science, ICT and Future Planning) • Winning fintech challenge contest, Koscom 2015 • Winning Global challenge contest, Born to Global 2015
Key points of Eversafe
Eversafe is Dynamic
Server generates Countless security modules
Size of the module is Minimum 50KB
Eversafe has High extendibility
We will make the world ever safe through our security solution, Eversafe.
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CONTACT
Address 33, Gukjegeumyung-ro 6-gil, Yeongdeungpo-gu, Seoul, Korea
TEL. +82 - 2 - 6331 - 6241
Email [email protected]
Home www.everspin.co.kr