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“This project is the final step for Safe-T and validates our capabilities in the data collection market, one of the many global opportunities that we are now targeting with our portfolio of cybersecurity and privacy technologies,” said the co-founder and CEO of the company. Shachar Daniel
Safe-T Group (NASDAQ: SFET) Ltd has announced that its corporate privacy business unit has received a purchase order for a project led by an Israel-based global data services company that intends to use its recently announced web data collection as a Service-Solution (DCaaS) in the analysis of major online social media sites.
The cybersecurity and privacy solutions company noted that the initial value of the high margin project is $ 180,000 and the potential value of the specific client is estimated at $ 500,000 per year.
The DCaaS solution was chosen after a period of intensive testing and evaluation focused on determining performance metrics, including system stability, as well as the diversity and scalability of the data collection platform versus to existing solutions on the market, he added.
READ: Safe-T Group prepares investors for record third quarter revenue, supported by acquisition of CyberKick
“We are delighted to have been selected by this established data services organization following extensive benchmarking of our new product DCaaS with several market-leading solutions and look forward to expanding this contract,†said Shachar. Daniel, co-founder and CEO of Safe-T. in a report.
“This project is the latest milestone for Safe-T and validates our capabilities in the data collection market, one of the many global opportunities that we are now targeting with our portfolio of cybersecurity and privacy technologies.
“Based on customer feedback and growing interest in our DCaaS, we expect to continue to show growth in this segment and to announce further contracts and partnerships in the near future. “
Safe-T said the web data collection solution, created by its corporate privacy business unit, was launched in September 2021 to provide customers with the ability to collect and analyze data online, public and web-based.
The solution is delivered as a DCaaS and powered by the company’s unique hybrid enterprise privacy network, which is used by hundreds of business customers around the world. The web data collection solution will allow businesses to collect information at any scale from any public website.
The new data collector addresses the key needs of data-driven decision making based on publicly available web information in many use cases including e-commerce, price comparison, privacy protection. brand, online search engine (SEO) and market research, the company added. This will allow companies to gain competitive advantages in their industry without having to invest significantly in their infrastructure, which will save them time and reduce the workload.
Safe-T noted that, according to a report from Grand View Research, the global data collection market is expected to grow from around $ 1.6 billion in 2021 to $ 8.21 billion in 2028. This represents a rate compound annual growth rate (CAGR) of 25.6%. .
Safe-T Group Ltd is a global provider of cybersecurity and privacy solutions and operates in three distinct segments: enterprise cybersecurity solutions, enterprise privacy solutions, and consumer cybersecurity and privacy solutions.
Contact the author at stephen.gunnion@proactiveinvestors.com
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