- With high-profile hacks abounding in 2022, Gartner forecasts that by 2025, 80% of enterprises will have adopted a strategy to unify web, cloud services, and private application access from a single vendor’s SSE platform
- Data443 Risk Mitigation offers a comprehensive and diverse software-as-a-service portfolio for data protection that is trusted by some of the world’s biggest companies
- During the first nine months of 2022, Data443 reported $2.3 million in revenue and $2.7 million in deferred revenue as it transitions customers from a one-time payment model into a recurring revenue model
As 2022 winds down, another year of lessons about data protection is in the books, alongside a year’s worth of notable breaches that made cybercriminals rich while costing economies and businesses billions of dollars. Teenage hacker group Lapsus bursts on the scene, hacking some of the world’s biggest companies, including Microsoft and Samsung. Vice Society hacked the U.S.’s second-biggest school district. Crypto video game company Axie Infinity was pillaged by cybercriminals to the tune of $620 million. Even hackers weren’t safe. Nefarious ransomware group Conti was penetrated by Ukrainian “hacktivists” that released internal content showing how they conduct their criminal enterprise.
2023 will likely be distinguished by a growing number of approaches using consolidated cybersecurity architecture and multi-layer approaches to protect against criminals who are notoriously adept at prying their way through any weakness, like a sentinel in the Matrix. Through strategic acquisitions, Data443 Risk Mitigation (OTC: ATDS) is uniquely positioned to benefit from increased demand for data protection with its portfolio of software solutions, allowing a unified approach to data governance and security.
Data443, whose ATDS stock ticker is an acronym for “All Things Data Security(TM),” recently published an Investor Presentation with the SEC, illustrating their efforts to provide software and services to enable secure data across devices and databases, at rest and in transit, locally, on a network, or in the cloud. With over 10,000 customers in over 100 countries, Data443 provides a modern approach to data governance and security by identifying and protecting all sensitive data regardless of location, platform, or format. The Research Triangle Park, North Carolina-based company’s framework helps customers prioritize risk, identify security gaps, and implement effective data protection and privacy management strategies.
Data443 can trumpet an expansive list of opportunities for businesses to connect with their security solutions. The possible connectors range from Act CRM to Zuora and include popular platforms, such as Slack, SharePoint, WordPress, PayPal, Microsoft, Google, Amazon, eBay, and hundreds more. In all cases, Data443 solutions are designed for the same purpose: protecting all IT attack surfaces to minimize ransomware threats, data hijacking, and system hacking.
In its recent Gartner(R) report, “Predicts 2022: Consolidated Security Platforms Are the Future,” the research firm makes several key findings in the fast-changing threat landscape, including expectations that companies will invest in integrated security approaches. More precisely, Gartner forecasts that by 2025, 8 out of 10 enterprises will have adopted a strategy to unify web, cloud services, and private application access from a single vendor’s SSE (security service edge) platform.
That plays right into Data443’s wheelhouse as a provider of à la carte options. The comprehensive offerings can do everything from locating data anywhere, moving it to where it should be to protect it, securely archiving it for a specified time, or even compliantly and permanently destroying it as requested. The diverse offerings appeal to an array of customers for different reasons, such as global fintech (secure data protection, transport, distribution); mid-market (archiving, ransomware protection, content viewing, and distribution); and small-to-medium businesses (plugins and website apps, freemium and badges, privacy compliance). To the SMB point, Data443 has created awareness for its products through a “freemium” marketing strategy that provides plugins to over 200,000 WordPress users. Elsewhere, its Data443® Antivirus Protection Manager earned the prestigious VB100 Certification from Virus Bulletin earlier this year.
Employing a growth-by-acquisition strategy along with its organic ways, Data443 in January completed the acquisition of certain assets from Centurion Technologies, namely its ransomware protection and device recovery technologies, along with ancillary assets. The purchase brought Data443(R) the leading technical component to comply with newly established requirements from the Cybersecurity & Infrastructure Security Agency (“CISA”), as mandated by the Biden Administration. The acquisition provides substantial cross-sell opportunities considering Centurion’s products are used worldwide with over three million licenses deployed.
For obvious security reasons, Data443 doesn’t disclose the names of most of its clients, but it is clear that some major players trust Data443. Examples from this year include a five-and-a-half-year contract with a “Fortune 500 Fintech Member,” a multi-year contract with a “leading financial services organization in Puerto Rico,” a multi-year contract with a “major US energy provider with over 30,000 employees,” and, only a few weeks ago, a $350,000 contract addition to an existing agreement with “a leading global investment bank headquartered in New York City with over $2 trillion in assets.”
The contract relates to additional licensing for the Data443 Data Placement Manager(TM) product, an HPE NonStop server-based application for secure managed file transfer that enables customers to schedule, route, format, and securely transfer business-critical data over both public and private networks. This client has been using Data443 for years, relying upon its data transfer technology to send and receive tens of thousands of files daily, which are the core of the intra-banking relationship for most banks worldwide.
In its quarterly update in November, Data443 said that it had retained 99% of its clients this year. Revenue for the year through Q3 was $2.28 million, down some from the previous year as customers took advantage of multi-year contract incentives in 2021, while Data443 transitioned from a one-time payment model to annual maintenance and subscription models. Deferred revenues through September stood at $2.65 million, up more than $1.0 million from the same period in 2021.
Observed, “Our results for the third quarter came in largely as expected, and we continue to see high revenue customer retention amidst extremely challenging economic conditions. We continue to focus on realigning our current customer relationships to a subscription and monthly recurring revenue model. While this has affected straight-line revenue growth year-over-year, our increased and growing deferred revenues, diverse revenue base, and increased analyst attention demonstrate our business’s strong momentum.”
“Looking ahead, we anticipate ending 2022 on a high note as we continue to work and deliver on renewals and net new opportunities with customers,” said Data443 CEO & Founder Jason Remillard in a statement on the company’s progress this year. “We continue to expand the adoption of our product sets in some of the world’s largest organizations, supporting business-critical data in flight and at rest, in the cloud or on-premises. I am confident that Data443 is well positioned to make the most of the substantial market opportunity before us, continuing our mission: To organize the world’s information by identifying and protecting all sensitive data regardless of location, platform, or format,” he concluded.
For more information, visit the company’s website at www.Data443.com.
NOTE TO INVESTORS: The latest news and updates relating to ATDS are available in the company’s newsroom at https://ibn.fm/ATDS
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