Nubeva Announces Expanded Focus On Architectural, Engineering, and Construction (AEC) Industry

Rhea-AI Summary

Nubeva Technologies announces its enhanced efforts to support the Architectural, Engineering, and Construction (AEC) sectors against ransomware through its successful Ransomware Reversal solution. Early adoption has resulted in over $500,000 in contracts within the first 100 days, primarily from AEC firms. The solution rapidly decrypts locked files, facilitating quicker recovery after attacks. The organization plans to leverage this traction in AEC to expand into other verticals, indicating a promising product-market fit and low sales costs.

Positive

• Booked over $500,000 in contracts within the first 100 days of product availability.
• Demonstrated nearly a 50% close rate after initial engagement with clients.
• Ransomware Reversal provides rapid decryption capabilities, restoring operations faster than competitors.
• High demand evidenced by significant early adoption in AEC sector.

Negative

• None.

The company’s breakthrough Ransomware Reversal solution shows strong, early traction in a large vertical market

SAN JOSE, May 16, 2022 (GLOBE NEWSWIRE) -- Nubeva Technologies (TSX-V: NBVA, OTC: NBVAF), a pioneer of next-generation solutions for ransomware, announces expanded efforts to help Architectural, Engineering, and Construction (AEC) firms better protect themselves from ransomware attacks. Based on industry-specific feedback and strong early adoption, the company is increasing its focus on the AEC as there is a clear need and fit for Nubeva's new breakthrough solution across the entire industry.

With input from 100's of AEC firms, Nubeva's industry brief, Understanding Ransomware in the AEC, discusses the specific circumstances and challenges facing thousands of these companies in the United States alone. These organizations play a vital role in building and maintaining critical infrastructure, making them prime targets for ransomware. Due to industry-specific dynamics and computing models, findings are conclusive that the AEC industry experiences as much as 2x the ransomware attack rates as other industries.

"When I first heard about Nubeva's ability to decrypt ransomware from a colleague, I was skeptical. But when we studied and tested it, we quickly realized this was the missing link  in our security strategy and a silver bullet for attacks that get past our firewalls, EDR, backups, and other systems," said Andy Knauf, CIO of Mead & Hunt. "Ransomware Reversal essentially provides instant protection as my team was able to fully deploy Nubeva across all of our systems in hours, not weeks or months. It was really easy."

Nubeva's Ransomware Reversal solution fills a vital gap for when ransomware gets past security systems, and organizations must recover quickly. The software solution enables organizations to decrypt files and systems locked during a ransomware attack to restore operations faster than other solutions. The software is simple to install across distributed environments, has next to zero ongoing maintenance, and is priced for widespread adoption across companies of all sizes.

"It is clear that there is a vital need in this industry. We have booked and billed over $500,000 of contracts in its first 100 days of product availability, with a majority of orders coming from the AEC industry," said Steve Perkins, CMO at Nubeva. "Once a company engages with us, we see nearly a 50% close rate. In my experience, those are very exciting results. Normally enterprise software and infrastructure sales have nine-month average cycles. This is an excellent sign not only for product-market-fit but also pointing to a low cost of sales. As we establish a strong foothold in AEC, we will expand to other vertical industries, as clearly, this is a problem affecting everyone."

Access Nubeva's Industry Brief "Understanding Ransomware in AEC"

To get a demonstration of Nubeva's Ransomware Reversal technology and discuss AEC-specific pricing and programs - Contact Us.

Forward-Looking Statements

This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the Company's business plans and the outlook of the cybersecurity industry. Although the Company believes in light of the experience of its officers and directors, current conditions and expected future developments, and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release, and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws. The Company undertakes no obligation to comment on analyses, expectations, or statements made by third parties regarding the Company, its subsidiaries, their securities, or their respective financial or operating results (as applicable).

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

For additional information, please contact:

Steve Perkins
sperkins@nubeva.com
(714) 261-9948

FAQ

What is Nubeva Technologies' Ransomware Reversal solution?

Nubeva's Ransomware Reversal solution is designed to quickly decrypt files and systems locked by ransomware, allowing organizations to recover faster after an attack.

How much revenue has Nubeva generated from its Ransomware Reversal solution?

Nubeva has booked over $500,000 of contracts within the first 100 days of the product's availability.

In which sector is Nubeva focusing its Ransomware Reversal solution?

Nubeva is primarily focusing on the Architectural, Engineering, and Construction (AEC) sector due to its high vulnerability to ransomware attacks.

What is the close rate for Nubeva's Ransomware Reversal after client engagement?

Nubeva has reported nearly a 50% close rate following initial engagement with potential clients.

What is the significance of the AEC industry in relation to ransomware?

The AEC industry experiences up to 2x the ransomware attack rates compared to other sectors, making it a critical focus for Nubeva's security solutions.