TraitWare®: A Paradigm Shift in Mobile Security
Interview with Heath Spencer, CEO/CMO of TraitWare® and Will Stewart, Founder/CEO of Asia Pacific Ventures
(Q) What is TraitWare®?
(HS): Very simply put, TraitWare® is in the business of replacing all of your passwords with a patented, secure login solution that unites all of your favorite website and software sign-ins into one platform. TraitWare®’s solution employs a simple and secure login for companies and their users, providing 2+ layers of multi-factor options, based on the security desired. Competitive solutions layer on other security steps, but remain dependent on the existing username and password model, thereby failing to eliminate the associated attack risks and all of its frustrations. TraitWare® is based in part on a secure and completely confidential capture of a user’s unique digital traits on their mobile device, whether Apple or Android. These traits differentiate a user’s device to at least 1-in-300 billion from any other user. Because TraitWare® replaces usernames and passwords, user logins cannot be stolen, lost, or phished. The TraitWare® plugin and mobile app offer a simple, secure login to the WordPress dashboard via web browsers. It does this by replacing user passwords with a QR scan. Username and password fields are disabled while multi-factor authentication provides an extra layer of security.
(Q) Will, why do you recommend TraitWare®?
(WS): As an early-stage VC for the past twenty five years, I have a particularly strong interest in investing in and working with cyber-security companies. As we all know, mobile cyber-security is a multi-billion dollar global marketplace. I tend to focus on investing only in global market opportunities. I was an early investor in the mobile cyber-security space in the elliptic curve encryption company Certicom (sold to RIM), as well RSA (acquired by EMC), VeriSign (NASDAQ: VRSN), Cybersource (acquired by VISA), Arcot (acquired by CA), Okena (acquired by CISCO) and others. All of these cyber-security companies presented a unique multi-billion dollar paradigm shift in the global security market. The mission of TraitWare® is to greatly increase user and company security by eliminating the need for usernames and passwords. It also simplifies access with its login solutions that unite website and favorite software sign-ins on a single platform. I believe the need and time for TraitWare®’s mobile solution is now.
(Q) What makes TraitWare® so unique in the security space?
(HS): Previously existing mobile security systems, such as the competitors shown in the table below, typically add a layer or layers to the standard username/password login. TraitWare®’s innovation entirely replaces the login method. Our technology has been created to be usable for anyone with a mobile device, making the adoption of better login security easier. For biometric enabled phones, authentication to a relying party requires the user to be in front of the screen. (Note: Even if someone manages to recreate a user’s biometric, they would have to steal the user’s phone and use it before it is deactivated.) TraitWare® makes the replication of a user’s device extremely difficult by using key pairs and our proprietary patented trait signature. TraitWare®’s trait signature is a mathematical representation that creates a uniqueness of the token to 1:300 billion. TraitWare® provides true multi-factor authentication from the mobile device, as well as the ability to log into a separate screen.
(Q): Why is the TraitWare® Authentication app necessary – how can I get the app?
(HS): It removes the risk for you and your users to be hacked through a username and password in a browser. Using passwords means you are not as secure as you could be, so at TraitWare® we replace them with a secured authentication app on your phone.
The most effective way to get the TraitWare® app onto your mobile device is to open the TraitWare® registration email that we send to your device and click the “register” button. This will take you to your app store to download and register the app. You can also search for TraitWare® directly from the app store on your device.
We have a demo login trial where you can self register on our website here. As well, TraitWare® offers a free 30-day trial. If you want to use the app to sign in after your 30-day trial expires, you have the option of continuing to use it by paying $3/month per website for the WordPress plugin or $3/month per user for enterprise applications.
In addition, our user interface and admin control center is customizable to suit individual needs. It can be integrated with Slack, Office 365, G Suite, Dropbox and other systems. TraitWare® is available on most devices and has been tested on Apple and Android, as well as on Mac and PC based systems. You can download the app in the Google or Apple Play stores. If you don’t have a smartphone, it works with Android and iOs tablets as well.
(Q) Can you elaborate further about TraitWare®’s market plans?
(HS): The TraitWare® authentication app was initially rolled out through WordPress site developers and their customers. We have expanded our solution to provide access to customer’s full range of internal resources, including enterprise apps (G Suite, Office 365, etc.), bank accounts, and any site where customer authentication is required. This allows our customers to have a single point of sign-on for their users through TraitWare® without the need for any usernames, passwords, secret questions, etc. TraitWare® delivers these capabilities through existing and developing identity standards such as SAML, OAuth and OIDC. These allow us to release these solutions to the full range of companies, allowing any company to deliver a fully secure and simple single sign-on without usernames and passwords and their risks. At the same time, TraitWare® has streamlined getting users on-boarded with just a couple of clicks.
(Q) Will, can you tell us about TraitWare®’s capital plans?
(WS): TraitWare® has a solid executive team, along with an excellent Board of Directors who are the initial investors in the company. Right now, TraitWare® is raising up to $2M in a convertible note as the company moves to scale the business in the U.S., as well as initiating discussions in foreign markets such as Japan. In addition, TraitWare® has built a tremendous proprietary cyber-security platform and the company will continue to expand the platform with this capital raise.
Established in 1989 by Will Stewart, APV is an international business development and venture capital firm specialized in early stage technology cross border investing and business development. APV has invested and assisted over (400) early stage technology companies in the U.S., Japan, Asia, and Europe. APV has secured over $5B in additional growth capital, equity, licensing, and joint venture investment over the past 28 years. Will Stewart, Founder/CEO, has established and managed five venture capital funds and two venture debt funds. In addition, Will Stewart is a Venture Partner for Rogers Venture Partners (RVP) in Toronto, Canada, and CSV Capital Partners in Shanghai, China.
The information contained herein has been prepared from sources believed reliable but is not guaranteed by us and is not a complete summary or statement of all available data, nor is it considered a recommendation or an offer to buy or sell any securities referred to herein. Opinions expressed are subject to change without notice and do not take into account the particular investment objectives, financial situation or needs of individual investors. No investments or services mentioned are available to any private investors or customers of APV or affiliates.