The cyber threat landscape continues to evolve at an alarming rate, with businesses, consumers, and organizations bearing the brunt of this escalating issue. The average cost of a data breach was $4.35 million in the last recorded year, marking the highest average on record, while the average cost of a ransomware attack was even higher at $4.54 million. Cyberattacks and ransomware have become increasingly rampant, with the number of ransomware attacks increasing by 93% year-over-year. It took organizations an average of 277 days, about nine months, to identify and contain a breach.
Notably, the growth of ransomware has contributed to the increase in attacks, with the threat of leaking exfiltrated data present in 86% of cases. Insider threats, either intentional or unintentional, accounted for 43% of all breaches.
Small businesses, organizations, and healthcare institutions are particularly vulnerable, with cybercriminals using AI and machine learning tools to attack and explore their networks. The growth of the Internet of Things is expected to create many new targets for these bad actors to exploit. According to Cybersecurity Ventures, the cost of cybercrime is predicted to hit $8 trillion in 2023 and will grow to $10.5 trillion by 2025.
One cybersecurity company that is focused on leveraging its innovative technology to assist these small businesses and organizations from cyber threats is Sekur Private Data, Ltd. (OTCQX: SWISF) (CSE: SKUR).
What Makes Sekur Unique?
With its sister company and infrastructure located in Switzerland, Sekur Private Data Ltd. is at the forefront of cybersecurity and internet privacy, offering a comprehensive array of Swiss-hosted solutions for secure data handling and communication. The firm provides an integrated suite of secure and private communication tools that include encrypted emails, VPN, encrypted messenger, and in Q4 2023, encrypted voice and video conferencing. These services are available for individual users, businesses, and governments across the globe. Sekur Private Data markets its products via its own websites: www.sekur.com, www.sekurvpn.com and through a network of authorized distributors and telecommunications firms worldwide.
Sekur Private Data's unique selling proposition lies in its Swiss-centric approach to data storage. Unlike other providers that rely on third-party hyperscalers like AWS or Microsoft Azure cloud, Sekur Private Data hosts all client data on its own Swiss servers. The data is stored in an advanced ISO-certified data center in Switzerland, endorsed by Swiss banks. This ensures absolute confidentiality and safekeeping of all data, under the robust protection of Swiss Federal Data Protection Act (FADP) and the Swiss Federal Data Protection Ordinance. These stringent laws offer unparalleled privacy protection globally for individuals and organizations. Moreover, the data centers utilized by Sekur Private Data are also shared by Swiss and international banks, United Nations agencies, multinational corporations, and governmental bodies, thereby ensuring the highest standard of security and confidentiality.
Furthermore, Sekur Private Data's commitment to safeguarding user data extends beyond adherence to Swiss privacy laws; it also incorporates military-grade security mechanisms. This includes physical and network security measures, as well as proprietary and non-open-source encryption, ensuring a secure environment for all information. By marrying non-open source, military-grade encryption security with Swiss data privacy, Sekur Private Data delivers unmatched safeguarding of its users' confidential information.
The suite of products offered by Sekur Private Data is strategically designed to cater to consumers, as well as high-ranking executives and board members of large organizations, and high net-worth individuals who require enhanced levels of privacy and security in communications, such as emails and messaging. This dedicated focus on users with sensitive data requirements distinguishes Sekur Private Data from other cybersecurity providers.
The economic stability, prosperity, and high-tech advancements of Switzerland further enhance Sekur Private Data's market position. Switzerland is acknowledged as one of the richest nations per capita, housing several multinational corporations. The Swiss economy is also recognized as one of the most competitive globally by the World Economic Forum's Global Competitiveness Report.
In conclusion, Sekur Private Data presents an unrivaled blend of Swiss-based data storage, military-grade security, and a dedicated focus on users with enhanced privacy and security requirements. Coupled with Switzerland's robust economy and reputation for innovation, Sekur Private Data emerges as an unparalleled choice for individuals and organizations in search of the most comprehensive cybersecurity and privacy safeguards.
Sekur Releases Q1 2023 Financials Showing a 50% Increase in Sales Y/Y, As Customer Acquisition Costs Plummet
During the first quarter of 2023, Sekur Private Data, Ltd. reported revenue of C$131,739, which represents a 50% increase compared to Q1 2022 when the company reported revenue of C$88,035. At the same time, the company also greatly reduced its expenses year-over-year, thanks in part to the Sekur’s focus on streamlining its marketing and advertising strategy. This has allowed the company to see a dramatic decline in customer acquisition costs (CAC), which now stand around US$74 with some campaigns achieving US$28. Using this streamlined strategy, management says they plan to continue focusing on scaling their marketing efforts to increase the customer base while hopefully continuing to lower their CAC.
Sekur Private Data continues to be very well-capitalized, with cash and equivalents of over C$3.29 million and a total asset count of over C$6.62 million. This provides ample fire-power for the company to continue its growth goals and improve its cybersecurity solutions in order to stay current with rapidly evolving cyber threats.
As a result of new services, such as the SekurVPN, and the lowering of CAC, management estimates Sekur will generate solid sales growth in 2023. The SekurVPN product, which was launched in April 2023, has continued to see a strong start out-of-the-gate. The product, which is also now available in the Apple (NASDAQ: AAPL) Mac App Store, is prices at US$7.00 per month per user or at an annual price of US$70 per user. Furthermore, the VPN product is available globally and can be purchased is a wide-range of different currencies, such as USD, CAD, NZD, SGD, CHF, EUR, and GBP.
In the face of an increasingly complex cyber threat landscape, Sekur Private Data, Ltd. has positioned itself as a formidable champion of cybersecurity and privacy. With the escalating costs of data breaches and a surge in ransomware attacks, the need for advanced, reliable security solutions has never been more critical. Sekur, with its Swiss-based operations, offers a suite of secure communication and data handling tools, protected by robust Swiss privacy laws and enhanced by military-grade security measures. Its services are designed to meet the unique needs of consumers, as well as high-ranking executives, high net-worth individuals, and organizations in need of exceptional data protection.
The company's Swiss location offers a strategic advantage, with Switzerland's prosperous, high-tech economy providing a strong backdrop. Amidst this backdrop, Sekur has recorded impressive financial growth. The first quarter of 2023 saw a 50% increase in sales compared to the same period in the previous year, and a considerable reduction in customer acquisition costs, owing to an effective marketing and advertising strategy.
The company's robust financial position, with cash and equivalents exceeding C$3.29 million and total assets over C$6.62 million, puts Sekur in a strong position to continue its trajectory of growth and innovation in the cybersecurity field. With new services like SekurVPN, which has already seen strong uptake since its launch, Sekur is poised to maintain solid sales growth in 2023.
Overall, in a world where cyber threats are evolving rapidly, Sekur Private Data offers an invaluable solution. By combining Swiss-based data storage, advanced security measures, and a targeted approach to catering to users with heightened privacy needs, Sekur stands out as a robust choice for those seeking the highest level of cybersecurity and privacy protection.
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Sekur Private Data, Ltd.