Local edge: S’pore cybersecurity start-up’s strategic advantage over global giants

While Western tech giants dominate the cyber-security field, home-grown firm InsiderSecurity is winning over customers with easy-to-deploy solutions and specialised capabilities.

It saw a 600 per cent increase in revenue between 2020 and 2023, earning it a spot on the

2025 list of Singapore’s Fastest Growing Companies

, compiled by The Straits Times and global research firm Statista.

Founded a decade ago by chief executive officer Jonathan Phua, the company now has 30 employees and offices in Singapore and Kuala Lumpur.

Mr Phua believes the company’s winning strategy lies in understanding the challenges of their customers more intimately than bigger rivals. These challenges include a shortage of cyber-security experts to operate security tools and getting good local support for security software.

“I wanted to develop cyber-security software that is built in Asia, for Asia,” he says. “I believe we can build sophisticated security software in Asia which can rival the best globally.”

Making cyber security accessible

Cyber security covers a wide array of domains, each focusing on specific aspects of protecting digital systems and data. For example, network security keeps communication safe, and mobile security safeguards mobile devices and applications from threats.

With a growing demand in database and cloud security, InsiderSecurity has developed simplified security software in these two areas.

Database security protects sensitive information stored in databases from unauthorised access and cyber attacks, whereas cloud security safeguards data hosted on the internet from threats such as hacking and data loss.

Another solution that the company offers is smart log review, a process that uses advanced algorithms to automate the review of large volumes of logs generated by computer systems to uncover unauthorised user activities and meet regulatory requirements.

These solutions meet the increasing need across all sectors for secure data management as businesses continue to produce, store and analyse more information than ever. With strengthened data protection laws and regulations, companies now face greater responsibility to secure and protect their data.

Today, InsiderSecurity’s cyber-security solutions are deployed not just by government and critical infrastructure, such as power generation and healthcare, but also by businesses in the private sector, ranging from finance to logistics.

It is also the first cyber-security software company from South-east Asia to achieve the Cloud Security Alliance STAR Level 2 certification, a well-recognised mark of competency in cloud security.

“In Singapore, all the major cyber-security brands are here, but we had customers in Singapore who switched from these more well-known brands to our software, which I think is a very good testimonial to the standard of our technology,” adds Mr Phua.

The company sets itself apart by streamlining and simplifying how businesses can protect their systems and critical data in today’s digital economy. Its solutions leverage artificial intelligence (AI) and automation so that its clients can enforce security measures with less reliance on specialised staff.

“There is advanced cyber-security software available to solve most problems in cyber security,” he notes. “The problem is that, often, security software is designed to be used by cyber-security experts or trained IT personnel, and there is a lack of such experts, especially in the region.”

In particular, many small and medium-sized businesses do not have a large team of cyber-security professionals.

One customer, for example, switched to InsiderSecurity’s solution from a more well-known company whose existing solution for database security required trained manpower to configure and use effectively.

“You can buy an expensive piece of software but if you have no one to properly configure and use it, then it’s a white elephant,” says Mr Phua. “Our software is a lot easier to use and it’s a big differentiator.”

By simplifying its cyber-security solutions and automating complex tasks, the firm helps organisations build robust defences against increasingly sophisticated threats, many of which are driven by emerging technologies such as AI.

Addressing regional challenges

As many cyber-security solutions are primarily designed and developed for Western markets, these solutions do not always align with the specific needs and challenges of Asian businesses, says Mr Phua.

“Users in Asia may have some requirements that may not be well addressed by overseas software,” he says.

“Recently, there is also the upcoming risk where advanced technology may be withheld or subject to export controls due to geopolitics – today it may be semiconductors and AI, tomorrow it may be cyber-security AI,” he explains.

InsiderSecurity’s deep understanding of local requirements and regional market conditions gives it a distinct advantage.

“Because InsiderSecurity is based in Asia, we are able to better address our customers’ needs in Asia,” says Mr Phua.

While his customers are mainly based in Singapore, Mr Phua expects to go regional in the next few years. Asean is a big market – Indonesia itself offers great opportunities – but he will need to work with local partners in these markets to expand the business overseas.

A piece of advice for budding businesses? Regardless of what sector the business is in, Mr Phua says the key was listening to their customers and understanding their needs thoroughly to provide the best solutions and value.

“If you can solve the customer’s problems, then you can demonstrate to the customer your value. Only then can you build traction and grow the business,” he says.

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