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Cybeats Technologies Corp. (CYBCF) is a global leader in cybersecurity technology, offering industry-leading solutions in SBOM management and software supply chain intelligence. The company recently announced its inclusion in the 'Secure by Design' initiative by the U.S. Cybersecurity and Infrastructure Security Agency (CISA), highlighting its commitment to enhancing security standards across various tech sectors. With a focus on securing enterprise software realms, Cybeats is at the forefront of promoting secure configurations and transparency in software supply chains. Their innovative platform provides customers with visibility and transparency into their software supply chain, empowering them to manage risk, ensure compliance, and secure their software throughout its lifecycle.Cybeats Technologies (CSE: CYBT) (OTCQB: CYBCF) reported significant commercial growth in its SBOM Management solutions. Key highlights include: over $7 million in total contract commitments since May 2022 with 80%+ gross margins, 72% of existing customers increased their spending in 2024, and a 90% conversion rate from pilot to long-term relationships. The company secured a $1.65 million non-brokered private placement to enhance sales, marketing, and product development.
Market research indicates 64% of global organizations faced financial losses from supply chain vulnerabilities in 2024, up from 49% in 2022. With 79% of companies either requesting or planning to request SBOMs from vendors, Cybeats is positioned to capitalize on increasing regulatory requirements in EU and North America.
Cybeats Technologies (CSE: CYBT) (OTCQB: CYBCF) has announced the granting of 7,000,000 stock options to various employees, directors, officers, and consultants. The options are exercisable at $0.16 per share for a five-year period. Of the total, 3,250,000 options were granted to directors and officers. All options are subject to a four-month and one-day resale restriction under securities laws. The company utilized exemptions from valuation and minority shareholder approval requirements under MI 61-101 for the insider participation portion.
Cybeats Technologies has secured a master services agreement with a Top 10 global medical device manufacturer for SBOM Studio, marking their fourth client from the global top 10 in the MDM vertical. The client, while remaining anonymous for security reasons, is among the largest 100 companies in the U.S. by market capitalization.
The company reports a 30% organic contract growth rate, with significant interest from the medical device sector, partly driven by FDA's guidance on SBOMs and software supply chain security. The SBOM Studio offers medical device manufacturers several key benefits including:
- Enhanced cybersecurity and vulnerability management
- Software supply chain security
- FDA 510(k) compliance support
- Regulatory compliance for EU and NIST requirements
- Automated compliance monitoring and improved efficiency
Cybeats Technologies has appointed two cybersecurity industry leaders, Kurt Callewaert and Bob Haack, to its Advisory Board. Haack brings expertise in device security, particularly in medical devices and U.S. Department of Defense Risk Management Framework. Callewaert joins following the recent Cybeats-Capyx partnership, bringing expertise in EU compliance requirements including the Cyber Resilience Act, NIS2, and DORA. As Business Line Director Cybersecurity of Capyx Belgium and founder & co-CEO of Capyx Luxembourg, Callewaert will support Cybeats' commercial expansion. The appointments strengthen Cybeats' position in software supply chain security and regulatory compliance.
Cybeats Technologies (CSE: CYBT) (OTCQB: CYBCF) has appointed Sophic Capital as its investor relations partner to enhance investor awareness through comprehensive communications strategy. The 12-month agreement includes monthly payments of $8,000 and grants Sophic options to purchase 1,000,000 common shares at $0.16 per share, vesting quarterly in four tranches. The partnership aims to communicate Cybeats' growth strategy to investment advisors, dealers, institutions, and financial professionals, leveraging Sophic's established network in capital markets.
Cybeats Technologies announces its readiness to support the U.S. Army's new mandate requiring Software Bills of Materials (SBOMs) from all vendors by February 2025. The company highlights two key products: SBOM Studio for software developers and SBOM Consumer, specifically designed for organizations like the U.S. Army that procure software from multiple vendors. SBOM Consumer offers SBOM validation, quality assessment, and continuous vulnerability monitoring capabilities. The company also introduced AITIC, an AI-powered threat intelligence collection feature that enhances software supply chain security by analyzing public data for vulnerability signals.
Cybeats Technologies Corp. (CSE: CYBT) (OTCQB: CYBCF) has announced a commercial reseller agreement with Capyx, an IT services provider in Belgium. Capyx will act as a value-added reseller, offering Cybeats' SBOM Studio and vulnerability management services in Belgium and Luxembourg. This partnership aims to help organizations meet European regulations like NIS2, EU Cyber Resilience Act (CRA), and Digital Operational Resilience Act (DORA).
To celebrate Cybersecurity Awareness Month, Cybeats and Capyx will host the Cybeats x Capyx: SBOM Summit, Belgium 2024. The event will focus on software supply chain security, SBOM management, and compliance with European regulations. Cybeats recently launched 'SBOM Consumer', a new product for organizations to collect, analyze, and manage SBOMs, improving security practices in sectors like healthcare and utilities.
Cybeats Technologies Corp. (CSE: CYBT) (OTCQB: CYBCF) has been enlisted by the U.S. Department of Defense to deploy its SBOM Studio platform. The technology will be used by multiple components of the US military, including the U.S. Army and U.S. Naval Air Systems Command. This deployment solidifies Cybeats' position as a trusted provider of cybersecurity solutions to the U.S. government, bringing its Software Bill of Materials (SBOM) management solution to three branches of the U.S. military.
The market for Cybeats' solutions has been propelled by Executive Order 14028, which outlined SBOM mandates and enhanced supply chain risk management across the U.S. government. SBOM Studio will identify software supply chain risks in real time, track and manage software vulnerabilities, and help ensure compliance with the executive order.
Cybeats Technologies Corp. (CSE: CYBT) (OTCQB: CYBCF) has launched SBOM Consumer, a new product designed for organizations of all sizes to collect and analyze Software Bill of Materials (SBOM). This product addresses the growing market demand for solutions that leverage SBOMs to manage third-party software risk and respond to software supply chain attacks.
Key features of SBOM Consumer include:
- SBOM validation and quality assessment
- Continuous vulnerability monitoring
- Contextualized threat intelligence
- Real-time alerting capabilities
- Integration with asset management and risk solutions
The launch comes as the U.S. Army announces new SBOM requirements for software vendors by February 2025, positioning Cybeats to support this effort and strengthen national cybersecurity.
Cybeats Technologies Corp. (CSE: CYBT) (OTCQB: CYBCF) has secured a renewed and expanded contract with a Fortune 500 client in the industrial control systems (ICS) sector for its SBOM Studio. This marks the company's fifth major client in the infrastructure space, with a 15% contract expansion. Cybeats has maintained a 100% client retention rate for approximately two years, demonstrating strong satisfaction with its technology.
The company's SBOM Studio helps clients achieve improved cybersecurity outcomes and ROI by automating software vulnerability lifecycle and SBOM management. Cybeats serves a diverse blue-chip customer base and is emerging as a pioneer in SBOM management solutions. The industrial cyber sector is driven by regulations such as NERC CIP, ISA 62443, and Executive Order 14028, which emphasize the importance of cybersecurity in critical infrastructure.
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