Data443 Risk Mitigation Inc. (ATDS) Announces New Contract Wins; Raises Capital to Fund Future Growth Agenda
- In November 2018, Marriott suffered the loss of personal data for almost 383 million guests, highlighting the pitfalls and risks attached to businesses boasting an online profile
- Gartner revealed that 30% of enterprises would employ data security platforms by 2024, up from a mere 5% in 2019
- Data443 caters to the growing need for data discovery, governance, and protection services through its extensive and growing product suite – with services ranging from the data archiving and transfer through to ransomware recovery
- The company recently embarked on the next leg of its growth trajectory, recently raising over $1.5M with proceeds set to be devoted towards additional sales and marketing recruitment as well as the uplisting of the company on to the Nasdaq exchange
- Data443 also updated the market on the coveted VB100 certification which was recently awarded to its flagship Data443(R) Antivirus Protection Manager(TM)
In November 2018, hotel chain Marriott saw its worst fears realized; a massive data breach was detected within its systems with hackers stealing data belonging to as many as 383 million guests. Nearly four years in its gestation, the hack was reportedly alleged to have stolen a broad array of data including credit card and passport numbers, birth dates, phone numbers as well as hotel arrival and departure dates (https://nnw.fm/DdjBH ). Data443 Risk Mitigation (OTC: ATDS), a data security and privacy software company, has centered its mission around preventing the likes of the Marriott hack from ever being repeated, stating its steadfast commitment towards identifying and protecting all sensitive data regardless of location, platform, or format.
A recent study by Gartner revealed that by 2024, over 30% of enterprises would have adopted data security platforms, up from less than 5% in 2019. Perhaps more importantly, the research firm’s study also showed how the majority of customers were focused on vender consolidation strategies – aiming to consolidate their various data security requirements from a single source.
“The explosion of ransomware, zero-day attacks, third-party breaches, along with long-term remote work concerns & the integration of operational technology with IT systems have culminated into a crisis of confidence for IT security leaders” – IDG Security Priorities Study 2021 (https://nnw.fm/XQv3I ).
Data443 continues to cater to the needs of an increasingly data security conscious corporate sector through its extensive product suite offering, one which boasted a range of solutions designed to securely manage data and data privacy needs on-premises, in the cloud and in hybrid environments. Some of the key elements included within its product suite included – data identification managers, designed to automatically catalog all data repositories; data placement manager, enabling the secure transfer of sensitive data across public and private networks; data archive manager, a purpose-built tool facilitating information archiving and retention; data hound, a data discovery, classification and capture toolset; as well as the ransom recovery manager, an industry leading solution which can assist users targeted by a hack to recover their device, operating systems and data with a simple reboot.
Boasting over 10,000 customers in over 100 countries, Data443 has recently highlighted a series of new contract wins – among those, a new $350,000 contract with a leading global investment bank. The new contract will relate to additional licensing for the Data443 data placement manager 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.
Data443 founder and CEO Jason Remillard commented re the new contract win, “Today’s announcement is indicative of our continued efforts to provide world-class service and support to our critical customers. Data443’s Data Placement Manager(TM) has played a critical role at some of the largest fin tech firms in the world for over two decades, providing additional upsell opportunities for us to demonstrate our capabilities throughout the entire Data443 product suite. We believe that our highly reliable and capable software, being price competitive, and our vision for our technology stack all contributed to this win,” he concluded.
Data443 has recently taken a series of measures designed to help fuel and cement its growth, with the company seeking to gain market share in a global data security market estimated to be worth over $54.23 billion by 2027, as per Allied Market Research. During December 2022, the company raised $750,000 in new capital, with the deal’s proceeds destined towards general corporate purposes, the recruitment of additional workers as well as a potential uplisting of the company to the Nasdaq Capital Markets in 2023 (https://nnw.fm/mwo6N ).
Finally, and coupled with the capital raising, Data443 also seized on the opportunity to reveal that its flagship antivirus product, Data443(R) Antivirus Protection Manager™ had received its VB100 certification. A coveted designation administered by the industry’s leading reporting agency, Virus Billeting. The VB100 certification affirms that Data443’s antivirus product satisfies a broad array of criteria, including detecting all known-in-the-wild viruses, generating no false positives, and having the ability to perform both, scheduled and on-demand scans. With the designation putting Data443’s antivirus on an equal footing with some of the industry’s most lauded products, Jason Remillard reaffirmed his belief on Data443’s growth outlook going forward (https://nnw.fm/1Y7qC ).
“At Data443, we make every effort to help protect customers from the ever-growing cyber threat environment. Achieving VB100 certification and besting some of the world’s largest competitors on false alarms delivers on our technical market leadership of our antivirus protection and ransomware product line. With so many antivirus products on the market, it can be difficult for consumers and businesses to determine which are truly effective at protecting against malware. VB100 certification helps to cut through the marketing hype and provides a reliable benchmark for comparing antivirus products,” he stated.
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://nnw.fm/ATDS
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