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Safe-T Group Ltd. (SFET) reported a 24% revenue increase to $1.3 million for Q1 2021, driven by customer adoption of Proxy Services and Zero Trust solutions. The company ended the quarter with $21.5 million in cash, marking its highest balance to date. CEO Shachar Daniel highlighted the successful integration of Chi Cooked's technology and growing market opportunities due to federal cybersecurity initiatives. Despite the positive revenue growth, the company reported a net loss of $2.5 million for the quarter, compared to a profit in the same period last year.
Safe-T Group Ltd (NASDAQ: SFET) announced that its subsidiary, Safe-T Data A.R Ltd., will host a series of virtual technology events in May and June 2021, focusing on cybersecurity. Topics will cover the surge in cyberattacks, the introduction of a zero trust biometric solution, and secure work-from-home strategies. These events will feature collaboration with partners from various regions including Europe and the Americas. Registration details will be available on Safe-T's website. The company's solutions aim to secure data and ensure business continuity amid rising cyber threats.
Safe-T Group Ltd (NASDAQ, TASE: SFET) announced its ZoneZero® solution received U.S. GSA registration approval under the Multiple Award Schedule for Industrial Products and Services. This approval, facilitated by Philemon Security USA, enhances Safe-T's ability to sell its Zero Trust Network Access solutions to federal agencies, streamlining procurement processes. The company aims to expand its customer base in the defense and federal sectors, positioning ZoneZero® as a secure access solution adaptable to various applications.
Safe-T Group Ltd (NASDAQ: SFET) has been recognized in Forrester’s New Tech: Zero Trust Network Access Q2 2021 report, showcasing its ZoneZero® solution. This innovative ZTNA solution provides secure remote access and identity-based segmentation for external and internal users. With seamless integration across legacy infrastructures, ZoneZero® includes features like logical micro-segmentation and continuous monitoring. The CEO expressed pride in this recognition, reflecting Safe-T's commitment to enhancing security solutions while enabling digital transformation for organizations.
Safe-T Group Ltd. (NASDAQ, TASE: SFET) will present at the Planet MicroCap Showcase on April 21, 2021. CEO Shachar Daniel will lead a virtual presentation discussing a new agreement with Philemon Security, the company's inclusion in NASA's procurement vehicle, and the recent launch of its IP Proxy platform. Safe-T will also review its 2020 financial results. Interested parties can access the presentation via a provided link.
For more details, visit www.safe-t.com.
HERZLIYA, Israel, April 13, 2021 - Safe-T Group Ltd. (NASDAQ: SFET) announced a joint Zero Trust Access solution with Thales, enhancing secure remote access for organizations. This solution addresses remote access needs, including multi-factor authentication and secure sessions. The combined technologies—Safe-T’s ZoneZero® and Thales SafeNet Trusted Access—allow controlled access to applications on a need-to-know basis. This partnership aims to provide customers with a robust security framework as remote access demands escalate during digital transformation.
Safe-T Group Ltd (NASDAQ: SFET) announced the addition of its ZoneZero solution to NASA's SEWP-V contract, facilitated by its North American distributor, Philemon Security USA. This enables U.S. federal agencies, including the Department of Defense, to access Safe-T's secure access solutions. Shachar Daniel, CEO of Safe-T, emphasized this partnership as a significant milestone targeting the $92 billion government IT sector. The ZoneZero solution provides comprehensive secure access, aligning with Zero Trust security protocols, which are increasingly adopted by government entities.
Safe-T Group Ltd (NASDAQ: SFET) has partnered with Philemon Security USA to enhance its presence in the lucrative $92 billion Government IT sector. Philemon will act as Safe-T’s lead distributor in North America for its ZoneZero™ cybersecurity solutions, targeting federal agencies and commercial markets. Safe-T's Chief Business Officer emphasized the collaboration will address increasing cybersecurity threats to federal entities. The partnership is expected to elevate network security measures, as remote work continues to rise, creating a pressing demand for advanced cybersecurity solutions.
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