One of Google's newest sister companies is almost ready to go after the $96 billion cybersecurity industry on a 'planet scale'

Last January, Alphabet's X "moonshot" factory announced a surprising turn, a new cybersecurity company called Chronicle. The press statement was short on details, and since then, Chronicle has been silent about what it's working on. Chronicle is one of Alphabet's newest "Other Bets," the group of Google's sister companies that are hoping to stumble on the next big thing in tech, such as self-driving cars (Waymo) or high-speed internet access in remote areas (Loon). And cybersecurity is a potentially massive opportunity for Alphabet. Research firm Gartner predicts cybersecurity spending will hit $96 billion in 2018, and only increase from there. Now, Chronicle CEO Stephen Gillett is revealing some initial details about where his mysterious Other Bet is going. Here's what he told CNBC.