Safe-T Group (NASDAQ:SFET) Ltd announced that it has reached a monthly recurring revenue (MRR) milestone for its recently-introduced privacy solution for Apple mobile devices via the App Store, ending 2021 with more than 10,000 paid subscribers worldwide.
The company also said it has experienced a more than 50% increase in subscription revenue quarter over quarter as adoption of its consumer privacy product accelerates.
“The growth in our consumer business is a significant factor behind our expected record 2021 financial performance announced last week, driving our full-year revenue above $10 million, a year-over-year growth of more than 100%,” Safe-T Group (NASDAQ:SFET) CEO Shachar Daniel said in a statement.
READ: Safe-T Group expects estimated fiscal year 2021 revenues to exceed $10M
“We are confident in the potential of our consumer business and look forward to realizing the untapped value we see as millions of consumers seek new cybersecurity and privacy solutions,” Daniel added.
As well, Safe-T Group (NASDAQ:SFET) noted that to capitalize on the growing interest for enhanced consumer privacy it intends to ramp-up global marketing of the product through the first half of 2022 as well as launch its availability on Android mobile devices and personal computers.
As a global provider of cybersecurity and privacy solutions, Safe-T Group operates in three distinct segments: enterprise cybersecurity solutions, enterprise privacy solutions, and consumer cybersecurity and privacy solutions.
The company’s 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. It also has the ZoneZero cybersecurity solutions for enterprises, designed for cloud, on-premises and hybrid networks.
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