Security Information & Event Management (SIEM) , Security Operations
New Securonix CEO Calls for Product Expansion, Global Growth
Kash Shaikh Seeks International Expansion, Opportunistic M&A Amid Tectonic Shifts
Securonix tapped the ex-leader of Virtana as its next chief executive to capitalize on upheaval in the SIEM market with international expansion and opportunistic M&A.
The Dallas-area security operations stalwart tasked Kash Shaikh with expanding in Europe and Asia-Pacific by prioritizing countries or regions where demand is high and deploying resources to convert those opportunities quickly. Shaikh replaces Nayaki Nayyar, who joined Securonix in late 2022 after serving as Ivanti's president. Nayyar is stepping down to "focus the next phase of her career on public board service."
"In this market, when so many disruptions are happening, some of the prospects will be looking at Securonix as a solution that differentiated," Shaikh told Information Security Media Group. "It has a much more centralized view, can scale much better than anyone else, is ready for MSSPs - which can be a growth lever for the company - in addition to inorganic growth at some point."
Shaikh comes to Securonix after spending four years leading observability vendor Virtana, during which time he turned the 13-year-old company profitable and raised $73 million in financing. Shaikh previously spent four years leading Dell's enterprise solutions business unit and two years leading marketing and business development at Ruckus. He also served stints at Hewlett Packard, Cisco and Nortel Networks.
What Shaikh Brings to the Table
Shaikh plans to leverage Vista Equity Partners' expertise and support to drive both organic and inorganic growth, ensuring that any acquisitions are strategically aligned and fully integrated. Vista has held a majority stake in Securonix since making a more than $1 billion investment in February 2022. Remaining a stand-alone SIEM vendor allows Securonix to maintain a flexible architecture without vendor lock-in.
Shaikh was attracted to Securonix due to its journey from analytics UEBA to cloud-native, unified SIEM as well as its strong customer base of large enterprises and MSSPs. He said Securonix is well-positioned to capitalize on Cisco's $28 billion purchase of Splunk, the merger of LogRhythm and Exabeam, and Palo Alto Network's purchase of IBM's QRadar SaaS assets thanks to Vista's financial backing and experience.
"We will continue to provide the flexibility and options to our customers, which they really appreciate, and diversification strategy for them to be looking at best-in-class products for various aspects of their security," Shaikh said. "In some cases, it is creating opportunities for us to partner with larger providers, providing an open solution and an open platform, not necessarily a closed platform."
Although Shaikh's recent jobs weren't in cybersecurity, he has experience getting firms to profitability, expanding into new segments, growing internationally and carrying out acquisitions, which he hopes to replicate at Securonix. Enterprises outside the United States tend to rely more on managed security service providers, and Shaikh hopes to capitalize on that trend at Securonix.
"Having led similar businesses, I know how to transform the businesses to grow both in terms of acquisition of customers and for the growth of the business in general," Shaikh said.
How Securonix Compares to Rivals
Shaikh said Securonix's pure-play cloud SIEM offers an advantage over closed platforms by providing flexibility and avoiding vendor lock-in. This openness allows clients to choose best of breed solutions and mitigates risks associated with single-vendor reliance. Diversification and a layered approach to security reduce the risk associated with single vendor lock-in, according to Shaikh.
"Best of breed is an advantage for customers and CISOs so that when the exposure happens, you're not completely exposing the entire enterprise," Shaikh said.
From a product standpoint, Shaikh said, he hopes to simplify the experience for Securonix users and maintain the company's technological edge. Going forward, Shaikh hopes to make acquisitions to broaden Securonix's portfolio and accelerate its road map. He plans to focus on strategic alignment and ease of integration when evaluating prospects to ensure the experience will be seamless.
Shaikh views Vista's ownership as a critical component for future growth and in pursuing best practices, expertise and strategic investments. From a metrics perspective, he plans to focus on customer retention and annual recurring revenue growth and aims to make Securonix a "rule of 40" company with 20% annual growth and 20% profit, which ensures both disciplined growth and customer satisfaction.
"If we continue to do the right thing for our customers and are obsessed with solving their problems, I think it is all achievable given the innovation we have and the road map that we plan to deliver, as well as the growth levers that I mentioned with very clear opportunities in this market when so many disruptions are happening," Shaikh said.
