Plurilock Security Inc said in a corporate update that it has received cumulative contracts and orders representing US$11.7 million in total sales since April, 2021.
“Our rapid sales growth represents is indicative of the demand we are seeing from our growing client base of enterprise customers,” Plurilock Security CEO Ian Paterson said in a statement.
“Since April 2021, the establishment of our Solutions Division has resulted in more contracts and orders signed, as well as a stronger footprint in the US cybersecurity market. Moving forward, we plan to continue securing more clients and expanding our business footprint by executing on our M&A strategy and growth initiatives,” Paterson added.
READ: Plurilock receives US$418,000 order from US defense contractor
Plurilock noted that it continues to secure new contracts and orders through its Solutions Division, leading to four purchase orders worth over US$1 million since April 2021.
The company also said it has signed its first multi-year purchase order worth C$672,000 in a cybersecurity market with a prominent overseas financial institution, in which it will provide a three-year subscription of its continuous authentication DEFEND product.
As part of the procurement process, Plurilock noted it underwent a stringent evaluation over a period of several months, and during that time demonstrated the strength of the DEFEND solutions with an average detection time of roughly one minute.
The company added that it continues to evaluate accretive acquisitions to accelerate its growth and market share in the identity-centric cybersecurity industry, with plans to acquire businesses in the cybersecurity technology space, additional channel partners, and professional services companies.
As well, Plurilock has announced that it will be holding a webinar with Thesis Capital Inc on September 29, 2021 at 1pm ET to inform shareholders and educate potential investors about the company's current operations and growth plans. Interested participants can register here.
Plurilock provides identity-centric cybersecurity which enables organizations to operate safely and securely while reducing cybersecurity friction. The company offers world-class IT and cybersecurity solutions through its Solutions Division, paired with proprietary, AI-driven and cloud-friendly security through its Technology Division. Together, the Plurilock family of companies delivers persistent identity assurance with unmatched ease of use.
Contact Sean at sean@proactiveinvestors.com