Pros
Covata has a decent amount of money in the bank. That is not a very good reason to work there however. Applied security is an interesting space, and there is a lot of potential. A ten year old company that has failed to achieve revenue demonstrates issues with execution.
Cons
This list is only valid at the time of writing (May, 2017). Things may change to invalidate points. The company has little to no revenue, with a low likelihood of gaining significant revenue in the short to medium term. The company is hence operating off of raised capital. Covata is bleeding staff. In 2017, the company has downsized from around fifty employees to just over twenty. Most engineers have left the company. There is no one with a strong security technology background leading and driving the company forward. The ten year old company has had seven different CEOs. Covata is a hot potato.