HERZLIYA, Israel, Nov. 02, 2021 (GLOBE NEWSWIRE) — Safe-T® Group Ltd. (Nasdaq, TASE: SFET) (“Safe-T” or the “Company”), a global provider of cyber-security and privacy solutions to consumers and enterprises, announced today that Safe-T’s enterprise privacy business unit received a purchase order for a project led by an Israel-based global data services company which intends to utilize Safe-T’s recently announced web Data Collection-as-a-Service (DCaaS) solution in the analysis of online leading social media sites.
The initial value of this high margin project is $180,000 and the potential value from the specific customer is estimated at $500,000 a year. The DCaaS solution was chosen following an intensive testing and evaluation period focused on determining performance metrics including system stability, and the diversity and the scalability of the data collection platform versus existing solutions on the market.
According to a report from Grand View Research, the global data collection market is estimated to grow from around $1.6 billion in 2021 to $8.21 billion in 2028. This represents a compound annual growth rate (CAGR) of 25.6% from 2021 to 2028.
Shachar Daniel, Co-Founder and Chief Executive Officer of Safe-T, noted: “We are pleased to have been selected by this established data services organization following extensive comparison testing of our new DCaaS product against several leading solutions in the market and look forward to expanding this contract. This project is the latest milestone for Safe-T and validates our capabilities in the data collection market, one of several large global opportunities we are now targeting with our portfolio of cyber security and privacy technologies. Based upon customer feedback and growing interest in our DCaaS, we expect to continue to show growth in this segment and to announce additional contracts and partnerships in the near future.”
The web data collection solution, created by the Company’s enterprise privacy business unit, was launched in September 2021 to provide customers with the ability to collect and analyze online, public, web-based data. The solution is delivered as a DCaaS and powered by Safe-T’s unique hybrid enterprise privacy network, which is utilized by hundreds of business customers around the world. The web data collector solution will allow enterprises to gather information at any scale from any public-facing website. Safe-T’s new data collector addresses key needs for data-driven decision making based upon publicly available web information across numerous use-cases including e-commerce, price comparison, brand protection, Search Engine Online (SEO), and market research. This will allow enterprises to achieve competitive advantages in their industry without having to invest significantly in their infrastructure, saving time and reducing workload.
About Safe-T Group Ltd.
Safe-T Group Ltd. (Nasdaq, TASE: SFET) is a global provider of cyber-security and privacy solutions to consumers and enterprises. The Company operates in three distinct segments, tailoring solutions according to specific needs. The segments include enterprise cyber-security solutions, enterprise privacy solutions, and consumer cyber-security and privacy solutions.
Our cyber-security 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.
ZoneZero® cyber-security solutions for enterprises, designed for cloud, on-premises and hybrid networks, mitigate attacks on enterprises’ business-critical services and sensitive data, while ensuring uninterrupted business continuity. Organizations’ access use cases, whether from outside the organization or within the organization, are secured according to the “validate first, access later” philosophy of Safe-T’s zero trust.
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 is the only one that is comprised of both millions of residential exit points 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.
For more information about Safe-T, visit www.safetgroup.com
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 the potential value of the project with a global data services company, the advantages of the DCaaS solution, its potential to address market need and/or demand, potential additional contracts and partnerships, the potential growth of the global data collection market and that Safe-T’s new data collector will allow enterprises to achieve competitive advantages in their industry. 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 22, 2021, 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. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Safe-T is not responsible for the contents of third-party websites.
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