Cybeats Launches 'SBOM Consumer': A New Product for Organizations of All Sizes, Broadening Market Reach and Revenue Opportunities

Rhea-AI Summary

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.

Positive

• Launch of SBOM Consumer product, expanding market reach to organizations of all sizes
• Addressing growing market demand for software supply chain security solutions
• Potential to capitalize on U.S. Army's new SBOM requirements for software vendors
• Strengthening position as a trusted partner in security and top innovator in the market

Negative

• None.

Toronto, Ontario--(Newsfile Corp. - September 12, 2024) - Cybeats Technologies Corp. (CSE: CYBT) (OTCQB: CYBCF) ("Cybeats'' or the "Company"), a global leader in software supply chain security, is pleased to announce a new product offering, SBOM Consumer, for security professionals to collect and analyze Software Bill of Materials ("SBOM")^[1] across organizations of all sizes. The new product serves the increasing market demand for solutions that leverage SBOMs to manage third-party software risk and to more quickly respond to increasingly frequent software supply chain attacks.

In contrast with SBOM Studio - which has achieved significant validation across industries that produce software, SBOM Consumer will instead service organizations with a solution that addresses the needs of organizations requiring transparency into the software they are buying and using. Cybeats' new product offers seamless SBOM validation, quality assessment, and analysis, as well as continuous vulnerability monitoring, contextualized threat intelligence, and real-time alerting capabilities. SBOM Consumer simplifies the collection and use of SBOMs multiple vendors, and is built to integrate with asset management and risk solutions. The market for software supply chain solutions was valued at over $9 billion in 2023, with growth being driven by a significant increase in consumer demand.^[2]

"SBOM Consumer is the culmination of years of experience and a robust product strategy, designed to help organizations turn SBOMs into the foundation of their product security practice. This solution expands Cybeats' value to clients such as healthcare organizations and utility providers, where there is a heavy reliance on software and need to receive SBOMs from vendors. With SBOM Consumer, Cybeats continues to lead as a top innovator in the market, further strengthening our position as a trusted partner in security," said Dmitry Raidman, CTO, Cybeats.

U.S. Army Announces New SBOM Requirements

Cybeats acknowledges the U.S. Army's recent directive, which mandates that by February 2025^[3], all software vendors must provide SBOMs as part of new software acquisitions. This policy highlights the Army's need for transparency in the software supply chain and efforts to mitigate cybersecurity risks. SBOMs will soon be a requirement for most software providers to the Army, marking a significant milestone for both Cybeats and U.S. policymakers in strengthening national security against emerging cyber threats.^[4]

As the U.S. Army prepares to collect SBOMs at scale, Cybeats is well-positioned to support this effort, ensuring that SBOMs are effectively managed, analyzed, and operationalized to enhance the nation's cybersecurity posture. With SBOM Consumer, Cybeats offers a scalable solution to meet the Army's future need for efficient SBOM storage and analysis, ensuring that software supply chain risks are mitigated and security standards are met.

About SBOM Studio

As the industry's first and leading SBOM manager, SBOM Studio identifies software supply chain risks in real time, tracks and manages software vulnerabilities, and helps ensure compliance with Executive Order 14028. In the past year alone, more than 75% of software supply chains were exposed to cyberattacks- and 40% of organizations took a month or longer to recover.^[5] With the key benefits of vulnerability monitoring, automated risk analysis, and regulatory compliance, SBOM Studio helps its clients achieve improved cybersecurity outcomes, and serves a broad range of users in the software supply chain.^[6] Learn more here about how Cybeats can help you to manage risk and meet evolving cyber regulatory requirements.

About Cybeats

Cybeats is a cybersecurity company providing Software Bill of Material (SBOM) management and software supply chain intelligence technology, helping organizations to manage risk, meet compliance requirements, and secure their software from procurement to development and operation. Our platform gives customers comprehensive visibility and transparency into their software supply chain, enabling them to improve operational efficiency and increase revenue. Cybeats. Software Made Certain. Website: https://cybeats.com

SUBSCRIBE: For more information, or to subscribe to the Company's mail list, visit: https://www.cybeats.com/investors

Contact:
James Van Staveren
Corporate Development
Phone: 1-888-713-SBOM (7266)
Email: ir@cybeats.com

Forward-looking Information Cautionary Statement

Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the commercialization plans for the products described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Company filings are available at sedarplus.ca.

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^[1] https://federalnewsnetwork.com/wp-content/uploads/2024/09/081624_Army_SBOM_Memo.pdf

^[2] https://www.linkedin.com/pulse/software-supply-chain-security-solutions-market-uwmbc/

^[3] https://federalnewsnetwork.com/wp-content/uploads/2024/09/081624_Army_SBOM_Memo.pdf

^[4]https://federalnewsnetwork.com/ask-the-cio/2024/04/army-has-burned-the-software-development-bridges-behind-them/

^[5]https://www.blackberry.com/us/en/company/newsroom/press-releases/2024/software-supply-chain-attack-have-increased-financial-and-reputational-impacts-on-companies-globally-new-blackberry-research-reveals

^[6] https://www.cisa.gov/sbom

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/223098

FAQ

What is Cybeats' new product called and what does it do?

Cybeats' new product is called SBOM Consumer. It allows organizations to collect and analyze Software Bill of Materials (SBOM) across their systems, helping manage third-party software risk and respond to software supply chain attacks.

How does SBOM Consumer differ from Cybeats' SBOM Studio?

While SBOM Studio is designed for industries that produce software, SBOM Consumer is tailored for organizations that need transparency into the software they are buying and using.

What are the key features of Cybeats' SBOM Consumer?

Key features of SBOM Consumer include SBOM validation, quality assessment, continuous vulnerability monitoring, contextualized threat intelligence, real-time alerting, and integration with asset management and risk solutions.

How might the U.S. Army's new SBOM requirements affect Cybeats (CYBCF)?

The U.S. Army's requirement for software vendors to provide SBOMs by February 2025 positions Cybeats (CYBCF) well to support this effort with its SBOM Consumer product, potentially expanding its market opportunities in the government sector.