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One of the more interesting trends I’m seeing are the frequency of data breaches and how many victims – including myself – are getting used to it. Equifax, Verizon, Uber, Quora. You name it, my data is involved in many of these breaches and it’s strangely not keeping me up at night. This is not acceptable, said Yinglian Xie, CEO of DataVisor. The Mountain View, California, company provides unsupervised machine learning that can adapt and catch attacks at the inception stage, she said. DataVisor raised $40 million in a Series C round in 2018.
“Why would you accept this, that your data would be stolen and leaked?” Xie said to me at Money20/20 last week. “Would you accept someone breaking into your house over and over?”
When I shook my head “no,” Xie continued to explain what happens with our data. Fraud attacks are big business, she said, and hackers steal our information to sell to others. It’s not Verizon or Equifax who suffer but consumers.
“Our information is used to create bad bank accounts,” she said. “We need to care, we do. We are the ones to pay the penalties.”
Xie spent seven years at Microsoft working on security, privacy and distributed systems. She co-founded DataVisor in 2013, her LinkedIn said.
Hackers need to test their attacks and frequently conduct small-scale launches, Xie said. That’s where DataVisor comes in. “We actually catch lots of attacks at the incubation,” she said. “We have great tech and want to use it to make the world a better place.”