Enterprise privacy business turns profitable and marks three record revenue months
HERZLIYA, Israel, Nov. 11, 2022 (GLOBE NEWSWIRE) -- Safe-T Group Ltd. (Nasdaq: SFET) (TASE: SFET) (“Safe-T” or the “Company”), a global provider of cybersecurity and privacy solutions to consumers and enterprises, today announced a surge in NetNut Ltd., the Company's subsidiary and enterprise privacy network (“NetNut”), that doubled its usage volume and processed over 36 billion customer's requests. The sharp increase in volume is a result of the onboarding of several strategic customers, as well as the expansion of NetNut's network and its ability to process record breaking amounts of requests.
In addition, NetNut achieved three record revenue months, transitioning the business to profitability. The recent growth in revenues is attributed to an increase in activity with major customers in the Counter Ad-Fraud market.
“NetNut's robust network is one of the strongest and most reliable in the market. The scalable infrastructure we redesigned in the past few months, enables us to meet growing demands and continue to scale as we expand with our partners and customers. The latest spike in usage and its ability to handle an over 100% increase in traffic loads within a short period of time, is a vote of confidence for its ability to scale the client’s businesses without affecting their performance," stated Shachar Daniel, Chief Executive Officer of Safe-T. "Having a network that supports vast amounts of requests and generates record revenues is something we are very proud of. It is our goal to continue to grow our customer base by utilizing our well-established platform".
Safe-T’s enterprise privacy unit, NetNut, provides businesses with the ability to gather mass amounts of public web data fast. The Company has invested significant resources in re-designing its network architecture in recent months.
About NetNut Ltd. NetNut Ltd., a wholly owned subsidiary of Safe-T Group Ltd., is a provider of fast, reliable and scalable proxy solutions for all web scraping and web data extraction requirements. By utilizing a dynamic network and delivering optimized IP pools, NetNut is the ultimate solution for scraping and collecting web data at high speed and lower rates. NetNut’s use cases includes web data extraction, market research, Search Engine Optimization (SEO) monitoring and Search Engine Results Page (SERP) tracking, price comparison, social media management (SMM), advertising verification, brand protection, travel aggregation and more. NetNut’s proxy network comprises exit points based on its proprietary reflection technology and hundreds of servers located at its ISP partners around the world. The infrastructure is optimally designed to guarantee the privacy, quality, stability, and the speed of the service.
About Safe-T Group Ltd.
Safe-T Group Ltd. (Nasdaq: SFET) (TASE: SFET) is a global provider of cyber-security and privacy solutions to consumers and enterprises. The Company operates in three distinct segments: enterprise cyber-security solutions, enterprise privacy solutions, and consumer cyber-security and privacy solutions.
Our cybersecurity and privacy solutions for consumers provide a wide security blanket against ransomware, viruses, phishing, and other online threats as well as a powerful, secured, and encrypted connection, masking their online activity and keeping them safe from hackers. The solutions are designed for advanced and basic users, ensuring full personal protection for all personal and digital information.
Our privacy solutions for enterprises are based on our world’s fastest and most advanced and secured proxy network, enabling our customers to collect data anonymously at any scale from any public sources over the web using a unique hybrid network. Our network comprises both exit points based on our proprietary reflection technology and hundreds of servers located at our ISP partners around the world. The infrastructure is optimally designed to guarantee the privacy, quality, stability, and the speed of the service.
Our cybersecurity solutions for enterprises, designed for cloud, on-premises and hybrid networks, mitigates attacks on enterprises’ business-critical services and sensitive data, while ensuring uninterrupted business continuity. Organizational data access, storage and exchange use cases, from outside the organization or within, are secured according to the “validate first, access later” philosophy of Safe-T’s zero trust. Our ZoneZero® solutions are available by our reseller, TerraZone Ltd., a global information security provider, as a solution or cloud service.
Forward-Looking Statements This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Safe-T is using forward-looking statements in this press release when it discusses NetNut’s strong and reliable position in the market, its network usage volume, NetNut’s unaudited estimates of revenues, revenue growth and transition to profitability, and NetNut’s ability to meet growing demands, including its ability to scale up its client’s business without impact to their performance. Because such statements deal with future events and are based on Safe-T’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Safe-T could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Safe-T’s annual report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 29, 2022, and in any subsequent filings with the SEC. Except as otherwise required by law, Safe-T undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
The Company is providing revenue estimates in this press release, rather than final amounts, primarily because the financial closing process and review are not yet complete and, as a result, the Company’s final results upon completion of its closing process and review may vary from these preliminary estimates.
