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About High Wire Networks Inc. (HWNI)
High Wire Networks Inc. (OTCQB: HWNI) is a globally recognized provider of managed cybersecurity services, specializing in delivering advanced, scalable solutions through its proprietary Overwatch platform. Headquartered in Chicago, Illinois, the company operates a 24/7 Security Operations Center (SOC) and Network Operations Center (NOC), supporting a diverse range of clients, including Fortune 500 companies and major government agencies. High Wire Networks serves its end customers exclusively through a network of over 200 managed service providers (MSPs) and managed security service providers (MSSPs), ensuring localized expertise and global reach.
Core Business Areas
High Wire Networks focuses on three primary business areas:
- Managed Cybersecurity Services: The company’s flagship Overwatch platform provides Managed Extended Detection and Response (MXDR), Security Orchestration, Automation, and Response (SOAR), and Firewall as a Service (FWaaS). These services leverage AI/ML technologies to deliver real-time threat detection, analysis, and remediation, ensuring comprehensive protection for enterprise networks.
- Cyber Advisory Consulting: High Wire offers specialized cybersecurity consulting services, including risk assessments, compliance support, incident response management, and board-level advisory. These services are designed to align clients’ security postures with industry best practices and regulatory requirements.
- Telecom Solutions: Through its Secure Voice Corporation (SVC) subsidiary, High Wire provides VoIP and data network services, enhancing secure communications for its clients.
Market Position and Differentiators
High Wire Networks stands out in the competitive managed cybersecurity market through its innovative use of AI-driven automation and its channel partner-centric business model. The Overwatch platform’s hyperautomation capabilities enable the company to scale efficiently, delivering higher margins and enhanced service quality. Recognized by Frost & Sullivan as a Top 15 Managed Security Service Provider in the Americas, High Wire has also been featured on CRN’s MSP 500 and Elite 150 lists, underscoring its industry leadership.
Channel Partner Network
The company’s extensive network of channel partners is a cornerstone of its business strategy. By collaborating with MSPs and MSSPs, High Wire extends its reach to thousands of end customers across various industries, including retail, healthcare, education, and government. This partner-first approach allows the company to focus on innovation and service delivery while empowering its partners to grow their cybersecurity offerings.
Proprietary Technology
At the heart of High Wire’s operations is Overwatch SOAR™, a proprietary platform that integrates advanced threat detection and response capabilities. By consolidating alerts from multiple sources and applying intelligence-based rules, Overwatch SOAR enhances visibility, improves correlation, and accelerates remediation. This technology serves as a force multiplier for the company’s security analysts, enabling cost-effective and efficient service delivery.
Industry Recognition
High Wire’s commitment to excellence has earned it numerous accolades, including being ranked among the Top 250 MSSPs by MSSP Alert and receiving high rankings in Frost & Sullivan’s cybersecurity industry reports. These recognitions validate the company’s innovative approach and its ability to address the evolving needs of its partners and customers.
Conclusion
High Wire Networks Inc. is a leader in the managed cybersecurity space, known for its cutting-edge technologies and partner-centric approach. By focusing on scalable, high-margin services and leveraging its proprietary Overwatch platform, the company is well-positioned to meet the growing demand for robust cybersecurity solutions. With a strong foundation of industry expertise and a commitment to innovation, High Wire Networks continues to set benchmarks in the managed services industry.
High Wire Networks (OTCQB: HWNI) announced the onshoring of 100% of its 24/7 network and security operation centers to Batavia, Illinois, enhancing its cybersecurity infrastructure. The company reported a 430% growth in its Overwatch managed cybersecurity platform, which now serves nearly 1,000 customers, including Fortune 500 companies. High Wire's MSP Partner Program has expanded to over 200 partners, driving strong demand for cybersecurity solutions. The company also boasts a record backlog of $6.5 million for Overwatch, boosted by the adoption of enhanced cybersecurity policies. The global cybersecurity market is projected to grow at a 13.4% CAGR to reach $376 billion by 2029.
High Wire Networks has appointed Stephen LaMarche as Chief Operating Officer, effective February 6, 2023. LaMarche, who has over 25 years of leadership experience, will manage High Wire’s rapidly growing managed IT services, notably the Overwatch cybersecurity service, which has expanded by 400% to nearly 1,000 customers. This growth is fueled by a robust MSP partner program with over 200 partners globally and rising cybersecurity demand. The global cybersecurity market is projected to reach $376 billion by 2029. High Wire anticipates continued success as it leverages LaMarche’s expertise to enhance its offerings and expand its market presence.
High Wire Networks, Inc. (OTCQB: HWNI) has renewed its contract with a major aerospace company, securing a three-year deal valued at $300,000 for enhanced cybersecurity services. This renewal reflects a 40% increase in the client’s financial commitment compared to previous engagement. The expanded scope includes managed endpoint solutions and other services, highlighting growing demand for High Wire’s AI-powered cybersecurity offerings. The company reports a threefold growth in its Overwatch Managed Security business and a robust global market projected to reach $680 billion by 2030.
High Wire Networks (OTCQB: HWNI) has secured a managed services contract renewal valued at $1.2 million annually from a Fortune 500 healthcare company, doubling the previous contract of $600,000. This renewal broadens the scope to include management of additional end user compute devices. High Wire's services support clinical outcomes and adherence to compliance frameworks, reflecting increasing demand for their Overwatch cybersecurity platform. The global managed services market is projected to grow at 13.8% CAGR to reach $680 billion by 2030.
High Wire Networks (OTCQB: HWNI) has partnered with CMA, a capital markets advisory firm, to enhance its investor relations and public presence. The company reported a 53% revenue increase, totaling $52 million for the last twelve months, and a record backlog of $19.2 million, setting the stage for sustained growth in 2023. High Wire aims to leverage CMA's expertise to attract high-net-worth and institutional investors. The cybersecurity market is projected to grow significantly, with High Wire positioned to benefit from this trend.
High Wire Networks (OTCQB: HWNI) has appointed Stephan Tallent as Chief Revenue Officer for its Overwatch Managed Security Services division. Tallent, a seasoned IT executive with over 20 years of experience, previously held significant roles at Stellar Cyber and Fortinet, achieving major revenue growth in managed security services. Under his leadership, High Wire's cybersecurity revenue has surged by more than 260% year-to-date through its partner community. This strategic appointment aims to enhance partners' capabilities and respond to escalating cybersecurity demands.
High Wire Networks (OTCQB: HWNI) has completed a $6 million Private Investment in Public Equity (PIPE) as part of a total offering of up to $10 million, expected to close in early December. The capital raise aims to provide working capital for growth in managed services, eliminate over $4.5 million in debt, and reduce monthly debt obligations by over $300,000. The funds will also support the company's Managed Cyber Security Services business and position it for a future national exchange listing.
High Wire Networks Inc. (OTCQB: HWNI) reported impressive Q3 results, with $13.5M in revenue, representing a 26% year-over-year increase on a pro forma basis. This marks five consecutive quarters of growth, with quarterly increases ranging from 20% to 80%. Notably, Overwatch revenue surged 373% compared to the same period last year, and paying clients rose 27% quarter-over-quarter. Backlog in technology projects reached $19 million, nearly quadrupling since January 2022, underscoring strong demand in the managed security segment.
High Wire Networks (OTCQB: HWNI) announced a $1.8 million contract for a phone lifecycle refresh project, upgrading over 60,000 IP phone sets at 433 U.S. government sites. This marks their eleventh large-scale government project since 2021. David Hand, Vice President of Global Systems Integrators, expressed confidence in their ability to deliver high-quality results on time. High Wire has been a trusted partner for VARs and telecom providers, offering services in over 180 countries.
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