HiveWatch Next-Gen PSIM Raises $20 Million Led By Ex-Twitter Execs

By Robert Wren Gordon and John Honovich, Published Oct 28, 2021, 11:00am EDT

PSIM failed a decade ago but with the cloud and SaaS becoming mainstream, can LA-based startup HiveWatch benefit from these trends in the 2020s?

The company has announced $20 million Series A funding led by Twitter's ex-CEO.

IPVM Image

In this note, we share feedback from the company to IPVM looking at where the company is growing, what it aims to become, and why it could succeed where PSIM in the 2000s failed.

**********

*********,******* ** ****, ** * ***** SaaS ******** **** ***** data **** ******* *** monitoring ******* **** *** own **** *********, ***** it ***** ** "******," with *** **** **** of ********** ***** ****** and ******* ******** ******** prioritize ****** ********* ***** intervention.

*******

IPVM Image

*** ******* ****** *********(********), * ****** *** enforcement ******* *** **** Century *** ******** ********, who ******* ********* ***** having ********** ******* ** eponymous ******** ********** ****, RAS ********** & **************, in ****. ***** ******** RAS **********, ********* ****** in *** ******** ********* that "** **** ******'* take *** ****** *** anymore" *** **** "********** practices *** ****** ** be *** ****":

** ****, ******* **** Schonfeld *** ******* ** a ****** ** * Fortune *** *******’* ****** Security & ****** ********** Group ****he ******* ** **** ******’* **** *** ****** *** *******. Constantly hearing, “because that’s the way it’s always been done” and inefficiencies ******** **** ********* ******* *** ********** ********* *** ****** ** ** *** **** *** ***. [emphasis added]

*******

** ********, *** ******* **** founded ** ****** ******* executives **** ******* *** Adam ****, *** *********'* Series * *********, ***** included ************* **** ***** Groom,**** ***, *** *** ***-*********** *****'****** *** *******,********* ** *** ***** release.

********* ********* ** **** that ** *** *** raised $** ******* *** with *** ***** ** this *****. ********* ********** raised $* ******* *** in ******** ****, **** backing **** ******** ********, Freestyle *******, *** **** Ventures.

No ********* ******* *********

********* ********* ** **** with ** ********* *******—******* on *******, ******, *********, or *** ***** **** of ******** ***** ** scale. ** ********* *** uncertain ** **** **** any *********. ** ****** they **** ** ***** some ***, ***** *** response *** ***** ****** market, ****** ** ** be ***.

Valuation $** ******* ** ******

**** *****, ** ****** a ******** ********* *** HiveWatch, ** *** $** million-plus *****, ***** **** the ****** ** ********* for ** *********** *** the ********* *** ****-**** profits **** ********* *** from *****-*****, **** ******** security *********.

No ******** **********

** * ***** *** IPVM ********, ********* ***** not **** ******** *** many ********* ** ***, though******** ******* ** *********. ********, ********* ****** us ****:

******** *****’* ****** ******* the **** ****** ** employees ** ************ ***, and **’** **** ********* in ******* *** **** of *** *********.

Team *********

*** ******* *** ******* to **** **** ** plans ** "******" *** team ** ***** **** year:

HiveWatch ********* *** *+ **** ********* **** ***** ** ****** *** **** ** ***** **** ****. We’re hiring across engineering, product, customer success, marketing, and sales. We’re rapidly growing and excited that we have more amazing folks joining our team every week. Specifically, we’re looking for hungry individuals who embrace our company values. [emphasis added]

********* ********* *** ** job ********** ** **********, **** half ** ***** ******** having * ********* ***** (e.g., **** *********, ******** engineer, *** ******* ********).

No ****** **** *********

**** ** * ***** for **** ********, ********* confirmed **** ***** *** no ****** ********* *********. Because ** ****, ** is ********** ** **** make ******** ******* ***** how *** ******* *****, what ** ********, ***.

Engineering **** *******

********* **** **** **** its *********** **** **** grow "** *** **** few *****" *** ** a ***** ** *** hires:

** *** **** *** weeks ** ******* **** several **** ****** *** will ** ******* *** engineering, ******** ******* *** operation *****.

***** ************ **************, *********'* ** ** Engineering, **** ** *********'* current ********* ** ******** have ***********-******* *****.

Says "**** *** **** * *******"

********* *** ****** ******** of ***** ** ******** to ****, ****** **** "PSIM *** **** * failure" **** *** ******* "little *******" ** "**** companies":

** **** **** ** no ******** **** *** PSIM *** **** * failure ** **** *************. Historically, ***** **** *** solution **** **** ********* spent *********** ******* ********* and ***** ********* ** with ****** *******. ***** products *** ***** ******** on-premise *********, ******* ** integration ***********, ********** **********, and ***** **********.

**** ** ********** **** historical ******** **** *********, e.g., ** ******** ***** ***** ***** CEO ****:

**** * *********** ********* perspective, *** ******* *********** is *** ** ********** product. **'* * ****** product ******** ****** * PSIM. *** *** **, plus *****, **'* *** way *** ******** ******** has ***** ** ******* bringing *********** **** ********* platforms **** ************ ***'* talk ** **** *****. HiveWatch ********* ************ **** piece ** *** ******. But ** **** ** in * *** ****'* much **** **** ******** and *********.

***** ** ** ***** earlier **** **** ********** HiveWatch ** *****:

IPVM Image

Description ** ********

********* *** ******* ******* color ** *** ********, including:

********* ** * *****-****** SaaS ******** **** ** rapidly ********, ****** ********, and ***** ************* *********** their ******** ** * programmatic *****. **** * modern **** **********, ********* uses ********** ********* ** monitor *** */* **** program ******.

***:

** ***** ********* ** play **** **** **** existing *******, *** ******* program ***** ******* ** operational ***********.

Declined ** **** ***********

********* ******* ******** ** name *** ***********, ****** stating **** **** ******** "have *********** ********":

***** *** * *** of ******** ** *** market **** **** *********** features, *** **** ** provide * ******** ** the ************ *****.

**** *** ** ******** to **** ****** ************ about ******** ******************* ** *** ** the ******* ***** ******* that **** **** ********* aims ** **.

Declined ** **** ****** *********

********* ******* *** *** specify *** ****** ********/*********, telling ****:

** ***** ********* ** allow ******** ******** ******** to ***** **** ****-******* companies ** *** ******* enterprises. ********* ** ******* on ***** ********** *** unparalleled **** *** ******** experience.

** ******* ********* **** ultimately ***** ** *** enterprise ***** *** **** / ********** ***** **** of "****** ******" ***. for ******* ************* *** because ********* ** ** vague ** ** **** to ** **********.

Success *******

**** **** ***** **** ways ***** ********* ***** become ********** ***** **** previously ******:

  • *** ***********: ****** ***** *********, where ***** *** ********* 100+ ***********, ****** ****** is *** ********** *** PSIMs (** ****-********** *****, etc.). *** **** **** HiveWatch's ******* *** *******. This ***** **** * relatively ****** ********.
  • ****, *** *******: *** **** *** sold ** * ***-**** expensive ******* **** **** software ***********. **** **** those ********* ****** ********* on *** ******* ****. By ********, **** ******* a **** ***********, ******, ongoing ******* ******.
  • *****-*****: ***** *****-***** ***** help ***** **** ** the ********* ****** **** plagued ***** ** ****** it ****** ** ******** manage *** ******* ** other ***** *******. *******, this ***** *** *** issue ** ********** ** most ******** ******** ******* that ****** **-****, ** least *** ***.

Execution ********

********* ** ****** * question *** ******** *** given *** *******'* ************* lack ** ****** ***********, we **** **** ** higher **** ****** *** the ****** ** ***** startups ** **** ******* entering **** ******** ********. Combine **** **** *** tough **** *** ** execute / ********* ************ and ** **** *** be ****** ** ***** to ***** *******.

*******, *** ******* *** multiple ***** ****** ** its ***** *** ********* has * **** ** succeed.

Vote / ****

Comments (22)

** *****'* **** **** when *** ** ** Sales ****** ********** *** inexperience *** **** ** PSIM *************.

******** **** *** **** shocked **** ******** ***-******** people *** ************* *** dismissively ** *** ***** of ********** ******* ****** the ********.

Agree: 6
Disagree
Informative: 2
Unhelpful
Funny: 1

**** ***** ******* **** Verkada *** **** ****** to * ****** ******* sales ****** *** **** of ********* ** ****** systems *********.

Agree
Disagree
Informative
Unhelpful
Funny: 2

********* ********* ** **** with ** ********* *******…

********* ***** *** **** disclose *** **** ********* it ***…

********* ********* **** ***** are ** ****** ********* materials…

********* ******* ******** ** name *** ***********…

********* ******* *** *** specify *** ****** ********/*********…

****

Agree
Disagree
Informative
Unhelpful
Funny: 4

***** ** ** ********* sees ** ***** ** IPVM *** ********* ** blowing **** ***?

Agree
Disagree
Informative
Unhelpful
Funny: 2

***, ***, **** ***** be *** **** *** respond ** ******.

**** ** *** ***** #2, ** ***** *** value** **** *** **** company?

Agree
Disagree
Informative
Unhelpful
Funny

**** ********* **** **** information **** **** ***** give * ****** ******** IMHO.

***, **** *** ***** value ** ** ******* company!

Agree
Disagree
Informative
Unhelpful
Funny

********* **** **** *********** than **** ***** **** a ****** ********

*** **** * ***** is ****** ** ** true. ** ********, **** of ********* *** **** comfortable ****** *** *********** to ********** ********* **** they ****** *** ******** won't ***** ** ********. It's *** ***** ** brag ** * ******** and ****** **** *** prospect **** ****. **'* another ** *** ** publicly *** **** ******** amongst ****.

Agree
Disagree
Informative
Unhelpful
Funny

…**** ** ********* *** more *********** ****** *** information ** ********** ********* when **** ****** *** prospect ***'* ***** ** publicly.

****, **** ***’** ****** is *** ******** ** someone *** **** ****** on ** ******* *****.

*** *** **** ** was ***** ******* *** his **** *****, ** would **** ****** **** head ***.

Agree
Disagree
Informative
Unhelpful
Funny

**** ***’** ****** ** the ******** ** ******* who **** ****** ** 20 ******* *****.

***** *** **'** ***** with ****** ** ********* that **** ****** *** more **** **** *** don't **** *********'* **** of ********.

** ********** ** ***** lack ** **********. ***** things **** *** ********** on *** **** ********* one *** ** **** silly. *** ***** **** to **** ***** ****** metrics ** **** * sense ** ***** (**** if *********** *****) ** just *****.

Agree
Disagree
Informative
Unhelpful
Funny

IPVM Image

***** **** ******** ** 2009?

Agree
Disagree
Informative
Unhelpful
Funny

**** **** ** ***** something **** *** ********* discussed **** **** *** had **** ******** *******. This *** ** *** first ** ***** *** a **** ******* ** many ***** **?

Agree
Disagree
Informative
Unhelpful
Funny

**** **** ** ***** something **** *** ********* discussed **** **** *** had **** ******** *******.

** ******'* *****-******* *******-***** ** Camera ****.

******* **** **** ********.

Agree
Disagree
Informative
Unhelpful
Funny

*** *** *** ******** back ********....

*** ***** ******* ***** IP ****** - ****** or *****?

* ***** *** ****** to **** ** *****.

Agree
Disagree
Informative
Unhelpful
Funny: 1

******* **** **** ********.

*** ******** ** ******* on ********* *** **** you ***** **** * little **** ********.

******, *** *** ******* reduction ** ****** ********* by ********* *******

:)

Agree
Disagree
Informative
Unhelpful
Funny: 1

"*********" ***?

Agree
Disagree
Informative
Unhelpful
Funny

** ** ******* **** a ******* **** **** a **** *** ********* outline ** *********** ** services ***** ******* ***** raise ** **** *****. The ******** ** ************ what ******* **** ** solve?

*** ******** ******** *** been ******** ** * fundamental ********* ***** ******** multiple ***** ** ********** to ****** *******. **** means ***** *** ** no ****** ***** ** failure **** *** ****** in ****.

***** ***** ************ *** decision ****** *** *** inherent ******** ** ******* on *********** ** *** cloud **** *** *** always *****.

************* *** **** '***** based' ** * ***** magnet.

*** ********** **** ** not *** *** ***-******* investors. ***** *** ********** and ********* ****** **** the *********** *** ********* materials **** ***** *** entered ******* ** *********** understanding.

**** **** *** *** use *** *****-****.

Agree: 1
Disagree
Informative
Unhelpful
Funny

***** ***** ************ *** decision ****** *** *** inherent ******** ** ******* on *********** ** *** cloud **** *** *** always *****. ************* *** term '***** *****' ** a ***** ******.

** ********, *****-***** ******** system ********* **** ******* growing ******* *** **** proved ********* **** *** them. * ***'* ***** there ** * **** concern **** ********* ***'* buy ***** ******* ** general.

** ** ******* **** a ******* **** **** a **** *** ********* outline ** *********** ** services ***** ******* ***** raise ** **** *****. The ******** ** ************ what ******* **** ** solve?

** ****** *** **** problem **** **** *** always ***** ** **. To **** ***** ** security **** **** ********* systems ** ***. **** their **** ****:

IPVM Image

***** *** ********** ***** customers **** **** ** interest ** * ******** to ****. *** ********* succeed ** ************ **** where **** ***** **** failed? *****, ***** ***, though ** * *******, in *** ******, **** have ******* ** ***** favor **** **** ********* 15 ***** *** *** not.

Agree
Disagree
Informative
Unhelpful
Funny

**** **** ******* ** their ***** **** **** companies ** ***** *** did ***.

**** ******* ***** ******* development/integrations ** ******** *** 'language' ******** **** ******* communication ******* ********* *******.

**** *** *** #* 'success ******' **** *** report:

*****-*****: ***** *****-***** ***** help ***** **** ** the ********* ****** **** plagued ***** ** ****** it ****** ** ******** manage *** ******* ** other ***** *******.

*** '*********' ****** **** plagued ***** *****'* **** they ****'*/******'* ******** (*.*. technical), *** ******* *** of *** ****** *********** required ** *** *** huge ****** ** ********* systems **** ********* **** to **** **** ****** *****.

** *** *** *****-***** alternative *** '******' ******* disparate ******* **** ** would ***** **** ** be **** ** **** to **** ** ***** disparate *******. ***/**?

Agree
Disagree
Informative
Unhelpful
Funny

*****-***** ******* **** ** have ****** ********** ********** and *** ********* ****** to ********* *** ***** to ***** **** *********** to ** *** *** on ****.

* ***** **** *** about *** **** ***** that ***** *** ***** various ********* ******* *** that **** *** ***** on-site (********* ***'* **** poorly ********** ** ****** away ****) ***, ** point, ** **** **** is ********** ******** ****** in **** **** ** was ** ****.

Agree
Disagree
Informative: 1
Unhelpful
Funny

** *** *** ************* security ******* *** ********, you **** ***** **** ability ** **** **** decreasing *** ******** *****. Otherwise, *** *** ****** to *** ******** *****.

****** **** **** ** started *** ****** *** walk . *** ******* in ***** ********, **** ports, ********, *** ***** were **** ******** *** not ** ** ** enterprise *****.

******** ***** ***** *** that ** * **** thing. ******* ***** *** many ****** **** ***** sets **** *** **** into *** ***** ***** providers *** ***** **** can ** **** , then ***** ** *** the ******** ******* ******** seems ** ******* ** to **.

********** ** ********, **** basic ********* *********, ******, outside, ******* *********- **** trust, *** ******. ***** never *** * ** an ****** ******* **** claim ** ******** *** consultants , **** ** be's ** **** *** to ***** **** ***.

** ******* ** *** answers ***** ** ****, " **** ** ** empty ****", *** ******* with "****** ***** ". The ******* ***** ***** have **** ****** **** a *** ******, ** at ***** **** **** humorous.

Agree
Disagree
Informative
Unhelpful
Funny: 1

*** ******* ***** ***** have **** ****** **** a *** ******, ** at ***** **** **** humorous.

*** ** *** ******* and ********* ******... **** everyone *** ***** ***** to **** **** * moron.

**** **** ***** * have ********* **** * think ** **** ******* point:

*** ***** ** *** safe - ** ** least *** ** **** as ****** **** * lower ** **** ***** imagine ** ** **.

*** ***** **** **** this **** ** ***** a ********** ******* - with **** *** ** the ******** ****** ***** referring ** ********* ********* the **.

Agree
Disagree
Informative
Unhelpful
Funny

*** *** ** ******* on ********* ******* ********* some ******. * ***'* think ***** ** **** materially *** ***** (*.*., in ***** ** ********* major ****** **********) *** here ** **:********* *** *** ***** backed ** *** ********* | ******** ******* ****

Agree
Disagree
Informative
Unhelpful
Funny
Read this IPVM report for free.

This article is part of IPVM's 7,330 reports and 971 tests and is only available to subscribers. To get a one-time preview of our work, enter your work email to access the full article.

Already a subscriber? Login here | Join now
Loading Related Reports