Zyber raises cash to help validate security solutions
There were myriad data breaches in 2015 and the big ones made big news.
Think Ashley Madison as probably the best known of the year, but there were other big breaches. In the US, the Internal Revenue Service had 330,000 taxpayers’ information compromised. In Australia Kmart and David Jones suffered similar fates. Even password manager Last Pass and hacking group Hacking Team were breached, proving that even those who are paid to protect are still vulnerable.
CIO Insight has reported that 193 million personal records were compromised last year, with a heavy focus on medical and healthcare services.
For companies like Zyber (ASX:DUO), this presents an opportunity to create security technology that can limit the damage.
Zyber announced today that it successfully raised $A3 million over the holiday period to facilitate growth, complete the build-out of its product line and to explore acquisitions in the cyber security space to expand its revenue base.
The Company sees the next two months as an exciting period in its growth as it sets to relist on the ASX towards the latter part of January.
It sees itself as well placed to capitalise on the forecast increase in the breach of confidential information.
Zyber is also planning to commence trials with five large enterprise companies in the next two months. The companies come from a range of industries including telecommunications and retail. The work with these companies should provide real world analysis of how well Zyber’s security solutions stand up in the face data threats.
Converting just one of these companies from trial phase will be seen as a boon by the company, will increase earnings and validate its technology.
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.