Clio, the world’s leading provider of cloud-based legal technology, announced Curt Sigfstead, a highly experienced technology finance leader, has joined the company as its new Chief Financial Officer. The announcement follows a recent expansion to Clio’s executive team, positioning the company for its next growth phase.
Prior to joining Clio, Sigfstead held the position of CFO for Toronto based fintech and Canadian unicorn, Clearco, where he successfully managed 100+% revenue growth and led the Company’s $125M Series C financing, increasing its Series C valuation sixfold. Sigfstead was previously the Head of West Coast Technology Investment Banking at J.P. Morgan. Sigfstead brings his wealth of experience leading and advising some of the technology sector’s largest M&A deals and raising billions of dollars of capital across public and private debt and equity markets to Clio, as the company sets the course for an exciting next chapter.
As Clio’s CFO, Sigfstead’s responsibilities extend to all of the company’s finance functions, including accounting, treasury, financial planning and analysis, legal, and corporate development. He brings experience at the executive and board levels to the role, including corporate investment, venture investing, corporate strategy, treasury management, and financial accounting. His track record of major financing events includes mergers and acquisitions, IPOs, and private and public equity debt financings.
Sigfstead will take over the role of CFO from Rob Froment who, after a long and successful career, is retiring. In his tenure with Clio, Froment played an important role in the evolution of the company, overseeing all three of Clio’s acquisitions, leading the Series D and E funding rounds, and the launch of Clio Payments.
Ravkoo Pwned In “Hilariously Easy” Hack
Posted in Commentary with tags Hacked on January 6, 2022 by itnerdUS online pharmacy Ravkoo has disclosed a data breach after the company’s AWS hosted cloud prescription portal was involved in a security incident that may have led to personal and health info being accessed. Ravkoo says it has found no evidence that customers’ SSNs were accessed, adding that it does not store SSN data on the affected prescription portal. What unique about this situation is that the alleged hacker is speaking out:
The data from the Cadence Health and Ravkoo sites was provided to The Intercept by an anonymous hacker who said the sites were “hilariously easy” to hack, despite promises of patient privacy. It was corroborated by comparing it to publicly available information.
If anything is “hilariously easy” to hack, then clearly security wasn’t a top of mind concern.
I have commentary from two sources. The first is Aimei Wei, Founder and CTO of Stellar Cyber:
“Security considerations have become a mandatory part of application developments in today’s digital environment. Unfortunately, not every developer is a security expert. Using security scanning/ pen testing before the application is released is an absolute necessary for every application. However, having a continuous monitoring, threat detection and response system is your best line of defense.”
The second comment that I have is from Saryu Nayyar, CEO and Founder of Gurucul:
“Security solutions with cloud-native architectures that can monitor AWS or other cloud-hosted infrastructure for threat actor activity are critical for organizations to migrate to. In this particular case, an exposed admin interface was not exploited by malware or a sophisticated attack campaign, however user behavioral analytics and more importantly identity access monitoring would have quickly alerted Ravkoo’s security team to this cloud hack. In addition to cloud threat monitoring, organizations need a next generation SIEM that can also monitor for and identify anomalous behaviors based on the aforementioned software capabilities. “
The bottom line is this. You want to harden your environments to such a degree that nothing is “hilariously easy” to hack. Otherwise, you get this sort of bad press.
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