WhiteHawk begins international cybersecurity expansion with new alliance

By Meagan Evans. Published at May 14, 2019, in Technology

WhiteHawk Limited (ASX:WHK) today announced a new partnership with international cyber risk reduction firm, Global Cyber Alliance (GCA).

GCA’s mission is to eliminate cyber risk and improve the connected world by securing Internet of Things (IoT) devices and technologies. It reduces cyber risk by developing and deploying practical, real-world solutions that measurably improve the world's collective cybersecurity.

WhiteHawk will work with GCA to provide affordable and easy-to-implement cyber risk mitigation solutions to small and midsize businesses (SMBs). The partnership opens the door for WhiteHawk to proceed with its international expansion plans as it seeks to explore opportunities to enable SMBs on a global scale.

Through cross promotion and joint thought leadership efforts, WhiteHawk and GCA aim to reach a wider audience and make small and mid-sized companies and organisations resilient to online crime, fraud, and disruption.

WhiteHawk customers will have access to GCA’s SMB Tool Kit, which offers free advice and solutions to create a sound cyber foundation. GCA members will have access to WhiteHawk’s AI questionnaire, CyberPath, which will provide a risk story, industry risk context, and a consultation with a cyber analyst.

Terry Roberts, Executive Chair of WhiteHawk, commented, “There are too few scalable approaches that enable small and midsize companies and organisations to prevent and mitigate the impacts of cybercrime and fraud. We welcome partnering with GCA to provide complementary and low cost, impactful cyber resilience options that protect the revenue and reputation of businesses and organisations globally.”

Funds raised to support growth

In order to support expected new contracts in the US and international expansion, WHK has raised A2.5 million via an oversubscribed share placement.

The company issued 25 million shares at A$0.10 per share for A$2 million, with an additional A$500,000 from oversubscriptions.

The funds will also assist in covering any working capital timing differences between additional contract awards in the US from the company’s strong pipeline of invited proposals and revenues relating to those expected new contracts.

The company notes that it is “ now well-funded to maintain current contracts and invest heavily in its strong pipeline of expected new contracts, including those in the financial services industry and Defense Industrial Base (DIB) sector.”

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