Photo - OpenAVN Inc
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OpenAVN Inc

Blockchain and AI based malware & digital threat mitigation

USA, New York
Market: Internet and IT, Telecommunications, Blockchain, Crypto currency, Artificial Intelligence
Stage of the project: Prototype or product is ready

Date of last change: 04.12.2019
Min investment
$  25.000
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Total required
$ 500.000
Rating
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Idea

As the industry move towards the next phase of artificial intelligence and blockchain adoption, OpenAVN aims to serve as the next generation blockchain and AI based Malware Protection system. With the power of blockchain, OpenAVN creates a new network layer that will remain as a First Responder against digital threats.

Current Status

OpenAVN is currently under SOC2 Audit to ensure compliance in all markets regarding Data Security, End User Data Privacy, GDPR, etc. OpenAVN is currently under a private beta mode with over 350 installed nodes across six different businesses. The products and services will be available to the public starting Q1 2020.

Market

Antivirus/Anti-Malware & Firewalls are primary fundamental utilities required for anyone using a computer. As such, the product market fit is far and wide. But currently we are targeting the early blockchain and crypto adopters for feedback and further development.

Problem or Opportunity

OpenAVN - Open Anti-Virus Network was created with the intention to solve a particularly hard classification problem that exists in security that is critical to the upcoming generation of computing. It uses Blockchain and AI to create a widespread network to collect diversified samples globally, enables us to foster an ecosystem that can serve the market exponentially faster than any other existing antivirus products.

On average, the Antivirus Industry takes anywhere between 25-30+ days to identify, isolate, and remediate viruses and malware. The entire industry depends on malware lab partnerships, and public communities to gather malware samples and signatures. OpenAVN solves the supply chain issue by reducing the time taken to obtain a malware sample and to deliver the signature to the end-user on average in less than 2-3 days. A Blockchain and Smart Contract based network is used to triage, classify, and incentivize the collection of malware samples using crowdsourcing and machine learning.

Solution (product or service)

We have combined Artificial Intelligence, Blockchain, and Cybersecurity to provide the most cutting edge digital threat prevention and continuous protection the industry has to offer. OpenAVN is designed to act both as an endpoint protection software in a SaaS model and as a Service/API Gateway to realtime threat intel. Our customers can either utilize our software to protect their devices and networks through monthly subscriptions or can plug into our ecosystem to consume the malware signatures and digital threats identified by the Blockchain platform in realtime.

Competitors

Cisco is the industry leader with over 70% of the market share. Traditional companies that are competitors are Cylance, and Crowdstrike. Polyswarm comes close with their blockchain based bounty hunting. But does not have an utility or follows a SaaS business model.

Advantages or differentiators

OpenAVN is capable of sourcing malware signatures in less than three days while the industry average stands at 45+ days. The blockchain network has no SPOF (Single point of failure) which means the network has next to no downtime as long as it is connected to the peer network.

Finance

We have sold about 350 licenses to businesses that have participated in our beta trial. Individual licenses are priced in starting at $6/Month, and Business licenses are priced in starting $10/Month and up with volume discounts available.

Business model

The utility software that we publish follows a SaaS business model for Individuals and Businesses. Direct API based realtime malware exchanges are available through DaaS business model with multiple subscription tiers.

Money will be spent on

Development 45%
Sales and Marketing 30%
Operations 15%
Salaries 10%

Offer for investor

Pre-Money Valuation - $4.5 Million
Seeking Capital - $1 Million (50% more in over subscription from $500k Target)
Term Length - 24 Months
Valuation Discount - 20%
Interest - 5%

Vetted deal in SeedInvest.com (Live now here SeedInvest.com/openavn)

Team or Management

Incubation/Acceleration programs accomplishment

We were selected by 500 Startups in 2017 but they did not support blockchain/crypto at that time. We changed our business model in 2018 and got selected by Techstars Alchemist Blockchain for the Spring 2020 cohort.

Won the competition and other awards

Winners at Eth Denver 2019
Triple Hackathon winnings at Defcon 27, Las Vegas in May.
Top Winners at ETH Newyork 2019
First place and Third place at San Francisco Blockchain Week - Hackathon

Invention/Patent

Patent filing is under progress.

Photos

Photo 1 - OpenAVN Inc
Photo 2 - OpenAVN Inc

Website address

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video
Website address