Lightship Security Ranks No. 31 on the 2019 Startup 50

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Ottawa-based laboratory revolutionizes the cybersecurity product certification process.

Standards-based certifications aren’t going away. The rise of IoT and a myriad of connected devices are pushing government and industry regulators to leverage existing standards and create new test methodologies that address emerging risk.

Canadian Business and Maclean’s today ranked Lightship Security No. 31 on the 2019 Startup 50 ranking of Canada’s Top New Growth Companies. Serving as a companion list to the longstanding Growth 500 ranking of Canada’s Fastest-Growing Companies and produced by Canada’s premier business and current affairs media brands, the Startup 50 ranks younger companies on two-year revenue growth. Lightship Security made the 2019 Startup 50 list with two-year revenue growth of 529%.

“Lightship Security is honoured to be named on the Startup 50 ranking,” says Greg McLearn, Technical Director and Co-founder at Lightship Security. “Our growth is a testament to our commitment to innovation within the security certification industry. When it comes to cybersecurity product development, time is of the essence. The industry is agile by design to combat the fast-moving threat and competitive landscape, yet legacy certification methodologies are complex, lengthy and simply haven’t kept pace with modern development and release cycles.”

Enterprise security hardware and software manufacturers selling to government agencies must navigate a series of standards and regulatory requirements to vet security quality and gain industry recognized certifications. Decades-old certification processes are disparate and have typically been managed almost entirely manually. Certification processes can take several months to complete after product release, which can hamper a company’s ability to bring innovative products to market that combat evolving cyber risk in a timely manner.

Lightship Security combines deep security standards expertise with scalable technological innovation, offering an industry-first, standards-based test automation engine that helps its growing international customer base of enterprise-class customers achieve test results in a fraction of the time when compared to legacy approaches.

“Standards-based certifications aren’t going away,” said McLearn. “The rise of IoT and a myriad of connected devices are pushing government and industry regulators to leverage existing standards and create new test methodologies that address emerging risk; Lightship is in a great position to support that mandate. Our mission is to accelerate our customers’ path to certified product release, helping them achieve the government and industry certification they need so they can get their product into the hands of the customers who need it the most.”

“The 2019 Startup 50 winners suggest the future of Canadian entrepreneurship is extremely bright. They have brought new offerings to market, created indelible brands and disrupted established business models—all in an extremely short period of time,” says Beth Fraser, Startup 50 and Growth 500 program manager. “Any aspiring entrepreneur should look to their stories for inspiration.”

About Lightship Security
Lightship Security Inc. is an independently owned, ISO 17025 accredited cybersecurity laboratory specializing in standards-based product security testing. Combining deep security expertise with its industry-first test automation engine, the company delivers continuous certification as a service, allowing its growing global enterprise customer base to certify at the speed of development. For more information visit http://www.lightshipsec.com and follow @lightshipsec.

About the Startup 50
Ranking Canada’s Top New Growth Companies by two-year revenue growth, the Startup 50 profiles the fastest-growing startups in the country. It is a companion list to the Growth 500 ranking of Canada’s Fastest-Growing Companies, which has, for over 30 years, been Canada’s most respected and influential ranking of entrepreneurial achievement. Both the Startup 50 and Growth 500 are published in a special issue of Canadian Business published with Maclean’s magazine and at CanadianBusiness.com. For more information on the ranking visit Growth500.ca or CanadianBusiness.com.

About Canadian Business
Founded in 1928, Canadian Business is the longest-serving and most-trusted business publication in the country. It is the country's premier media brand for executives and senior business leaders. It fuels the success of Canada's business elite with a focus on the things that matter most: leadership, innovation, business strategy and management tactics. Learn more at CanadianBusiness.com.

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Mandy Bachus
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