Former SoftLayer chief Lance Crosby surfaces at stealthy security startup by Barb Darrow @FortuneMagazine October 6, 2015, 9:05 AM EDT E-mail Tweet Facebook Linkedin Share icons When Lance Crosby and Andrew Higginbotham left their respective executive posts at IBM SoftLayer and CenturyLink CTL early this year within a month of each other, many wondered where they were headed. Now we know. The two executives are launching a security startup called StackPath. Details are sparce but a short post on the company’s site describes the macro security-in-the-age-of Internet-of-things issue: Today alone, more than 100,000 cyber attacks will be launched creating billions of dollars in financial loss globally. We have already reached the tipping point. Meanwhile the world is moving billions of devices to the Internet, from your watch to your appliances – the cloud is enabling new smart devices everyday. StackPath was founded in a belief that new disruptive, innovative technologies are the only way to solve this epidemic and enable a path to a safer Internet. They must be getting ready to talk because Higginbotham is tweeting about his new gig. In 2030 people will ask “Did you see it coming?” I’ll say, “Lance Crosby did.” Excited to be working with @lavosby — Andrew Higginbotham (@ahigginbotham) October 6, 2015 Crosby co-founded SoftLayer in 2005 and ended up at IBM IBM by virtue of that company’s $2 billion purchase of SoftLayer in 2013. Many expected him to become IBM’s top cloud guy, but that was not to be and he left the company just shy of the deal’s two-year anniversary. He’s been pretty quiet about his plans but has spoken at a few industry events since leaving Big Blue. One thing is sure: Cybersecurity is a super hot topic in this age of seemingly daily breaches. And the stakes get raised as more data gathering devices are connected to the Internet of things. A new study sponsored by Hewlett-Packard HPQ and the Ponemon Institute found that the average annual cost of cybercrime to U.S. companies surveyed is $15 million, up 20% year over year. For more on IBM’s cloud-and-data strategy, please check out the video below. Subscribe to Data Sheet, Fortune’s daily newsletter on the business of technology.