Cybersecurity Startups: Cyberstarts Co-Founder Gili Raanan on Cyber, Venture Capital, and Identifying Customer Pain Points Through the 'Sunrise Process'
Gili Raanan is an entrepreneur and venture capitalist based in Israel. He founded his first company, Sanctum, in 1997, and through that was involved in the invention of CAPTCHA, the challenge-response test used to determine whether a user is human in order to deter bot attacks and spam. He invented the first web application firewall, AppShield, and application-penetration testing software, AppScan. In 2009, Gili pivoted from entrepreneur to advisor to an investor in entrepreneurs as he became a general partner at Sequoia Capital. In 2018, Gili founded Cyberstarts, an early-stage venture capital firm focused on cybersecurity startups. October 02, 2023807: Gili Raanan, venture capitalist and co-founder of Cyberstarts, discusses his entrepreneurial roots, his pivot into venture capital, and cybersecurity more generally. Gili begins with explaining the concept of the ‘sunrise process’ which he uses to identify product-market fit and dives into his experience with starting up a cybersecurity company early in his career. He discusses the cybersecurity threats on the horizon, the constantly changing nature of cybersecurity, and the positive outlook he has for the industry. Gili also talks about how he finds talent worth investing in, the characteristics of great entrepreneurs, and why talent matters more than investing in new trends or technologies.
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"We started a process that today I know is a product market fit process and I teach many entrepreneurs, the concept of a sunrise, which is the Cyberstarts, branded the product market fit exercise."The World Class IT principles in yellow were the focus of this interview
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