IRVINE, Calif., July 11, 2017 (GLOBE NEWSWIRE) -- Identillect Technologies Corp. (the "Company" or "Identillect") (TSX-V: ID ) (OTCQB:IDTLF), a trusted leading provider of SaaS email security, today announces that it has continued to experience significant subscriber growth during 2017.
Identillect attributes its growth primarily to its solution’s ease of use and robust infrastructure, along with its continuous advancements. This has led to greater adoption of its Delivery Trust™ email encryption solution by new, and ever larger, organizations. Identillect’s growth rate during its second quarter of 2017 has increased by 11.09% over its first quarter’s growth rate. During the first six months of 2017, Identillect's subscriber base has grown 24.81% from that at December 31, 2016. Identillect continues to expand its reseller relationships and technology alliances which will continue to drive growth throughout 2017.
Identillect’s Delivery Trust™ is a trusted email security platform which provides businesses of all sizes with the most effective and economical way to protect its client’s personal information and comply with increased regulatory requirements.
“Identillect continues to expand its user base as cybersecurity threats plague businesses across the United States and abroad. With the expansion of our reseller program and the size of the organizations we service, Identillect anticipates continued growth through 2017,” stated Todd Sexton, Identillect CEO. “We are very pleased with the success of our recently announced warrant incentive program and have already began deploying funds to accelerate the Company’s existing successful growth strategy. We expect these sales and marketing initiatives will result in new market expansion, along with an extended product portfolio to meet the diverse security needs of the various market segments.”
Cyber Security is a growing concern, with limited resources to locate and prosecute cyber criminals the prevention of data breaches is the businesses' responsibility. When businesses delay the implementation of a solution such as Delivery Trust™ or implement an inferior solution they run significant risk of being out of regulatory compliance, eroding customer confidence, experiencing a loss of market share, as well as becoming a cyber security statistic.
The cybersecurity market is one of the fastest growing markets in technology. Breaches involving accidental email/internet exposure of information was the second most common type of breach incident reported by the identity theft center . Global spending will cumulatively exceed $1 billion over the next 5 years, with cybersecurity damages predicted to reach $6 trillion globally by 2021 reported by CSO online . The need for advanced cyber security tools to prevent data breaches will only continue to increase with an estimated 4 billion online requiring security by 2020.
About Identillect
Identillect Technologies is the leading provider of email encryption service Delivery Trust™, empowering enterprises of all sizes to protect their business and their client’s critical information against cyber security attacks.
Delivery Trust™ is an award winning, multi-platform plug-in, which gives users complete control of their emails, for one low price, one simple integration, complies with all regulations and most importantly provides peace of mind.
For more information, or your free trial, please visit www.identillect.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
IDENTILLECT TECHNOLOGIES CORP. Todd Sexton Chief Executive Officer Tel: (949) 468-7878 Email: todd.sexton@identillect.com Investor Relations: Arlen Hansen Kin Communications 1-866-684-6730 id@kincommunications.com
