The Growing Importance of Physical Security for Global Enterprises

When discussions center on technology and security, cybersecurity often takes precedence. However, for multinational corporations, physical security is equally crucial – a core function within many medium to large organizations that has historically lagged in technological adoption. Base Operations, a startup established in 2018 by risk management expert Cory Siskind, is aiming to change this.

Base Operations Secures Seed Funding

Recently, Base Operations completed a $2.2 million seed funding round. These funds will be allocated to leverage the company’s recent launch of a street-level threat mapping platform designed to bolster enterprise security operations.

The investment round was spearheaded by Good Growth Capital, with participation from Magma Partners, First In Capital, Gaingels, and Howard Morgan, the founder of First Round Capital. A significant portion of the capital will be dedicated to expanding the team, following a doubling of employee numbers in the last month.

Micro Intelligence for a Secure Operation

“Base Operations empowers companies to maintain the security of their operational personnel through ‘Micro Intelligence’ – detailed, street-level threat assessments,” Siskind clarified. “This supports routine security tasks across travel security, real estate, and supply chain security.”

Essentially, the company focuses on all aspects of security overseen by a chief security officer, excluding cybersecurity – anything with a physical world component.

A Lagging Sector Ripe for Disruption

Siskind’s understanding of the complexities of enterprise security stems from her early career at Control Risks, a global strategic risk consultancy, based in Mexico City. Her experience highlighted the significant gap between physical/political security operations and their cybersecurity counterparts.

Historically, physical security was often an overlooked element of corporate risk management, primarily impacting employees during frequent international travel. However, recent global events have dramatically altered this perspective.

The Catalyst for Change: 2020 and Beyond

“Prior to 2020, this sector represented the last area of a company that hadn’t been optimized by a SaaS platform, leading to resistance and loyalty to established providers,” Siskind explained. “The events of 2020 fundamentally shifted this dynamic, with companies recognizing that physical security isn’t merely about compliance; it’s a strategic advantage that ensures business continuity.”

The COVID-19 pandemic, escalating natural disasters, and widespread political instability in 2020 served as a turning point in how enterprises evaluate physical security within their overall risk assessment and strategic planning.

Investing in Resilience for Profitability

“Companies now understand that failing to invest in maintaining operational resilience amidst increasing catastrophic events jeopardizes profitability,” she stated. “Disruptions create instability and hinder progress.”

Leveraging Data for Actionable Insights

Base Operations tackles this challenge by consolidating data from diverse sources to generate comprehensive threat profiles. Their technology focuses on interpreting the constant flow of information – transforming what might be considered unproductive “doom-scrolling” on social media into actionable intelligence through machine learning.

These data sources encompass “government statistics, social media feeds, local news outlets, and data from partnerships with NGOs and universities,” according to Siskind. This data powers their Micro Intelligence platform, currently focused on ensuring the safety of personnel and maintaining operational continuity.

Future Applications and Strategic Positioning

The information gathered could also be utilized for strategic planning, such as evaluating potential geographical expansion or tailoring product development to specific markets.

Siskind recognized a need for a modernized approach to this essential, yet traditionally slow-to-adopt, aspect of business. While she anticipated a demand for improved enterprise security solutions two years ago, the urgency of that need has surpassed expectations, positioning Base Operations to effectively address it.