Phronesis Security, Australia’s first B Corp certified cyber security company, has emerged as a leader in the Australian cyber security landscape over the last two and a half years. Founded upon a mission of doing “cyber security for good,” the company has distinguished itself through an innovative blend of management consulting and cyber security consulting methodologies. In addition, it has built a unique approach to corporate philanthropy into its core operating model.

In that time, Phronesis Security has secured an enviable list of tier clients, including federal and state government departments, not-for-profits, critical infrastructure providers, financial services firms, large enterprises, leading technology companies, and innovative startups.

Phronesis Security’s success thus far is due to embracing the latest trends in technology and security best practices, being repeatedly selected as the trusted partner for Australia’s technology leaders. A small sample of Phronesis Security’s pioneering work in the last 12 months includes:

• Performing technical security testing for Australia’s first AI-powered adaptive learning platform, rolled out to over 400,000 students across Australia.
• Develop and deliver a cutting-edge cyber security and intelligence analysis training program for a federal government agency, which has become mandatory training for all analysts during onboarding.
• Identifying never-before-discovered vulnerabilities in a CCTV network for a state law enforcement agency, requiring the introduction of mitigations by the manufacturer.
• Development of Australia’s first comprehensive Artificial Intelligence security testing guide.
• Delivery of a bespoke vulnerability management strategy for a large payment processing provider using the cutting-edge methodologies that are largely yet to be adopted in Australia (“contextual CVSS scoring”, as per Gartner’s “Asset Context Prioritisation” or Cisco’s “Business Risk Observability” metrics), resulting in Phronesis Security providing weekly updates to the CIO and CEO.

Phronesis Security is also a trailblazer in adopting cutting-edge technology in its own business practices, such as training a custom AI large language model (LLM) using a repository of its quality assurance materials to provide interactive, conversational resources consultants can use when producing or reviewing work. This ensures that every deliverable is subject to the scrutiny of the collective experience of the entire management team.

To ensure the critical security and privacy implications are appropriately accounted for, Phronesis Security has also proactively redeveloped its acceptable use policy using the latest international best practices in AI adoption, ahead of the curve of any formal Australian requirement to do so.

Further, Phronesis Security has embedded social and environmental responsibility into its core, sharing 10% of its profits with some of Australia’s most impactful charities. By donating time to charities with complex data security drivers and limited security budgets, Phronesis Security has enabled not-for-profits to save money that can be redirected to their program work. As of February 2024, Phronesis Security’s impact mission has achieved the following:

• Offset 956 tonnes of CO2 equivalent via native reforestation programs through Carbon Positive Australia’s native tree-planting programs.
• Fully funded the cost of an education scholarship for Indigenous students in the
• Australian Indigenous Education Foundation’s scholarship program.
• Funded the manufacture and distribution of 6,964 Anti-Malarial Bednets, protecting nearly double that number of people from malaria-carrying mosquitos in countries afflicted by malaria.

As alumni of some of Australia’s most successful cyber security startups, the leadership team of Phronesis Security aimed to do something truly different and meaningful – build a high-end cyber security consultancy with an uncompromising approach to quality (built on years of experience working with organisations ranging from intelligence agencies to startups), that automated the creation of positive impact as a “happy byproduct” of its operating model.

Phronesis Security’s approach has been continually refined as the technological threat landscape changes. It combines the agility of a startup with the trust and expertise of a large, established consulting firm.

Therefore, Phronesis Security’s initiative to be considered for the Australian Business Awards is its core business model—a systematic approach for maximising its impact on its clients, staff, Australian society, and the environment, applicable to any entity, large or small, in any industry.

By prioritizing impact in its operations and still achieving incredible growth, Phronesis Security demonstrates that it is not only possible but also advantageous to pursue both profit and positive impact.

For information about Phronesis Security, visit phronesissecurity.com